Dovish means there is a less likelihood of interest rates rising‚ while hawkish means rates are set to go increase.
Momentum SP Reid said in an early morning note that the minutes indicated that US policy makers were concerned that tight global financial conditions could undermine the US economy and the committee had considered changing its planned path of interest rates hikes in 2016.
At 9.25am‚ the all share was up 0.42% to 50‚250.80 and the blue-chip top 40 gained 0.55%. Resources led the gainers‚ adding 1.81%. Platinums were up 1.09%. Banks added 0.85% and industrials gained 0.19%. The gold index was down 1.77%.
The local market was following Wall Street’s strong performance on Wednesday. The Dow Jones industrial average was up 1.59% at the close.
Momentum said the US markets had delivered their most substantial three-day advance since late August 2015.
"A recovery in global oil prices on the back of comments from Iran that they would be prepared to consider production cuts and some upbeat economic data created the upside momentum over the past three days‚" it said.
The Brent crude price was down 0.40% to $34.72 a barrel in early morning trade.
Asian markets were also firmer in morning trade with the Nikkei 225 adding 2.28% and the Hang Seng in Hong Kong gaining 1.97%.
Momentum said the JSE was likely to experience "upside momentum of a modest nature" on Thursday.
Among individual shares on the JSE‚ Anglo American was up 6.1% at R103.30. It last crossed R100 in October last year. Anglo is up 63.4% so far this year.
BHP Billiton added 2.78% to R167.35.
Kumba Iron Ore rose 1.79% to R63.11. Kumba has risen 85% so far in 2016.
Among gold stocks‚ Harmony added 3.21% to R39.90‚ but Sibanye was down 2.81% at R44.95.
Barclays Africa was 1.34% higher at R152.97.
Among retailers‚ Massmart dropped 6.87% to R92.99.
MTN added 1.88% to R154.85.
Super Group was up 0.86% at R40.96.
- TMG Digital/BDlive
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