The JSE was firmer on Friday morning tracking US‚ European and Asian markets.
Global markets surged after Wall Street closed higher overnight and Asian markets followed suit in the wake of recent market sell-offs amid concern about a slowdown in the Chinese economy.
Chinese equities delivered a second day of gains as Tuesday’s policy easing continued to boost markets.
The Dow Jones industrial average closed 2.27% higher and the Chinese Shanghai Composite index soared 4.75%.
story_article_left1
The Chinese turnaround began on Wednesday after reassuring comments from central bankers and positive US economic data. The Shanghai composite closed up 5.3% on Thursday after five consecutive days of losses.
The Hong Kong Hang Seng index was up 0.58% on Friday morning and the Japanese Nikkei 225 closed 3.03% higher.
At 9.28am‚ the JSE’s all share index was up 1.04% at 49‚637.50 points and the blue-chip top 40 index added 1.04%.
Gold miners led the gainers‚ surging 6.86%‚ followed by platinums‚ up 4.87%‚ and resources‚ which added 3.49%.
Barclays Research analysts said in a global note that attention would turn to the Jackson Hole symposium‚ where Bank of England (BoE) governor Mark Carney and Federal Reserve vice-chairman Stanley Fischer were expected to speak.
The analysts said that volatility remained elevated‚ but the extreme moves in risk assets had abated.
Among individual shares on the JSE‚ Anglo American added 2.33% to R150.17 and rival BHP Billiton gained 3.19% to R228.04.
Gold Fields shot up 9.14% to R40.82 and AngloGold Ashanti was up 5.89% at R103.24.
In the platinum sector‚ Lonmin was up 6.75% to R7.27 and Impala Platinum gained 5.92% to R49.19.
- BDlive
Just R20 for the first month. Support independent journalism by subscribing to our digital news package.