JSE follows world stocks higher

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The JSE board in Sandton in Johannesburg. Photo: Leon Nicholas.

The JSE edged up in early trade on Wednesday‚ taking its lead from world markets‚ after a positive start to the US fourth-quarter corporate earnings season last night.

At 9.34am‚ the all share index was up 0.17% at 40‚222.14 points‚ with the top 40 index up by the same margin at 35‚691.76.

“The markets are still looking for the catalysts post the US fiscal cliff deal. The state of US corporate balance sheets will determine whether we get a further leg up or much-needed pullback. Markets have thus far welcomed Alcoa’s results‚ which kicked off the US earnings season‚” said Devin Shutte‚ a trader at stockbrokerage Newstrading.

The all-share index is up 2.57% so far this year.

Leading Asian shares were mostly higher on Wednesday‚ with Japan’s Nikkei average index rising 0.67% while Hong Kong’s Hang Seng index gained 0.44%.

Among individual stocks on the JSE‚ Aquarius Platinum (AQP) recovered 1.99% to R8.70 and financial services group MMI Holdings (MMI) lifted 1.24% to R22.90 while construction group WBHO (WBO) lost 1.47% to R161 and property fund Hyprop (HYP) gained 1.18% to R77.20. - I-Net Bridge


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