The JSE, after opening slightly weaker, managed to gain some momentum by noon on Thursday on the back of overseas markets, which were showing some signs of picking up.
“Markets have managed to pick up a little,” a local trader said.
The trader said that European markets were pretty strong and that “is what is sparking some bullishness in the market”.
“Local markets are picking up their momentum from stronger overseas markets,” added the trader.
At noon, the all-share index was 0,29% higher, with resources up 0,04%. Platinum miners lost 2,38% while gold stocks were 0,52% higher.
Industrials were up 0,13%, financials were up 1,26% and banks jumped 2,22%.
The rand was bid at 8,15 to the dollar from 8,13 when the JSE closed on Tuesday, while gold was last quoted at $889,57 a troy ounce from $898,45 when the JSE closed on Tuesday.
Platinum was trading at $1 209,50/oz from a previous close of $1 192,50/oz.
Brent crude was at $101,19 per barrel, from its previous close of $102,45 per barrel.
Dow Jones Newswires reports that FTSE 100 trades added 0,4% at 5 118,1, moving into positive territory with stocks remaining fairly mixed across the board.
In local markets, Anglo American was down R9,20, or 2,85%, to R313,50 with rival BHP Billiton gaining R6,96, or 3,28%, to R219,22.
Sasol gained R2,45 to R345,44.
Gold miner AngloGold gave up R2,42, or 1,17%, to R204,58, Gold Fields added R2,25, or 2,93%, to R79 and Harmony was up R1,05, or 1,25%, to R84,75.
Among platinum miners Lonmin jumped R19, or 4,99%, to R400, while Anglo Platinum was down R17,04, or 2,08%, to R802,96 and Impala Platinum gave up R5,50, or 3,11%, to R171,50.
Among other miners Kumba Iron Ore gained R2,47, or 1,25%, to R199,97 while African Rainbow lost R1,28 to R180,72.
Financial-services group Old Mutual lost 32 cents, or 2,58%, to R12,06 and Sanlam was up 15 cents to R17,21.
Among banks Standard Bank gained R1,60, or 1,83%, to R89,10, Nedbank was up R3,20, or 3,31%, to R100, while FirstRand was up 48 cents, or 2,95%, to R16,73.
Among industrials on the JSE, brewer SABMiller was virtually unchanged, up three cents, to R167,76, Swiss luxury goods group Richemont was down R1, or 2,45%, to R39,75 while Bidvest was up R3,84, or 3,66%, to R108,84.
Telecommunications group MTN was up R2, or 1,88%, to R108,50 while Telkom gained R1,50, or 1,38%, to R110. — I-Net Bridge