THE JSE was firmer at midday on Monday, extending its gains for a third consecutive session, as stock markets were upbeat ahead of central bank action this week.
IG’s market analyst, Bernard Aw, said risk sentiment had improved noticeably following the European Central Bank’s monetary policy meeting and ahead of the US Federal Reserve’s open market committee meeting on Wednesday.
"Investors seem more confident that there is little chance of a March Fed hike this week, but they are anticipating some sort of guidance (in the Fed statement)."
As a result, global stocks were higher while the dollar was weaker, which boosted resource and mining assets, Mr Aw said.
At 12pm, the all share had risen 1.27% to 52,399.10 points and the blue-chip top 40 index was 1.46% higher. Resources were up 1.95%. Industrials climbed 1.21%, financials 0.88% and banks 0.43%. Gold miners gained 1.04% and platinums added 0.49%.
European stock markets were firmer.
By noon (CAT), the London FTSE 100 had risen 0.55%, the Paris CAC 40 0.61% and the German DAX 30 1.74%.
Among individual shares on the JSE, Glencore rallied 8.66% to R33.
British American Tobacco was down 1.15% to R878.29.
Harmony Gold surged 4.63% to R53.36. Lonmin Platinum leapt 10.89% to R36.87.
Alexander Forbes Group tumbled 4.32% to R6.80.
Lewis Group fell 4.96% to R52.27.
Naspers rose 3.19% to R2,000.85, while Taste rallied 12.61% to R2.50.
Picture: MICHAEL ETTERSHANK
THE JSE was firmer at midday on Monday, extending its gains for a third consecutive session, as stock markets were upbeat ahead of central bank action this week.
IG’s market analyst, Bernard Aw, said risk sentiment had improved noticeably following the European Central Bank’s monetary policy meeting and ahead of the US Federal Reserve’s open market committee meeting on Wednesday.
"Investors seem more confident that there is little chance of a March Fed hike this week, but they are anticipating some sort of guidance (in the Fed statement)."
As a result, global stocks were higher while the dollar was weaker, which boosted resource and mining assets, Mr Aw said.
At 12pm, the all share had risen 1.27% to 52,399.10 points and the blue-chip top 40 index was 1.46% higher. Resources were up 1.95%. Industrials climbed 1.21%, financials 0.88% and banks 0.43%. Gold miners gained 1.04% and platinums added 0.49%.
European stock markets were firmer.
By noon (CAT), the London FTSE 100 had risen 0.55%, the Paris CAC 40 0.61% and the German DAX 30 1.74%.
Among individual shares on the JSE, Glencore rallied 8.66% to R33.
British American Tobacco was down 1.15% to R878.29.
Harmony Gold surged 4.63% to R53.36. Lonmin Platinum leapt 10.89% to R36.87.
Alexander Forbes Group tumbled 4.32% to R6.80.
Lewis Group fell 4.96% to R52.27.
Naspers rose 3.19% to R2,000.85, while Taste rallied 12.61% to R2.50.
Change: -1.07%
Change: -1.16%
Change: -0.20%
Change: -0.71%
Change: -3.68%
Data supplied by Profile Data
Change: -0.62%
Change: 0.09%
Change: -1.08%
Change: 0.00%
Change: -0.13%
Data supplied by Profile Data
Change: 0.80%
Change: -0.23%
Change: 0.73%
Change: 1.47%
Change: 0.23%
Data supplied by Profile Data
Change: 0.00%
Change: 0.10%
Change: -0.07%
Change: -1.06%
Change: -2.95%
Data supplied by Profile Data