JSE firmer ahead of jobs report

The JSE opened firmer on Friday in quiet trade as investors awaited US nonfarm payrolls data‚ which are due for release later in the day.

The data are expected to provide more clues on a possible US rate hike this year.

US markets closed flat on Thursday. The JSE mainly following upbeat European markets on Friday morning. The FTSE 100 gained 0.91%‚ the Paris CAC 40 was up 1.07% and the DAX added 1.08%.

The JSE all share has performed well in 2015 compared with other markets‚ despite the resources rout. It is up 1.50% year to date. Over the same period the Dow Jones industrial average has fallen 8.70% and the Hang Seng has lost 9.30%.

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Momentum SP Reid said in an early morning note that despite some improvement in global markets and the JSE over the past few weeks‚ outright upside momentum remained challenging.

At 9.25am‚ the all share was up 0.44% to 50‚740.50 and the blue-chip top 40 had added 0.55%. Industrials gained 0.61% and financials were up 0.30%. The gold index fell 3.16% and platinums were down 1.43%.

Among the global miners‚ Glencore bounced back‚ gaining 2.95% to R19.20.

Market giant British American Tobacco added 1.55% to R765.41.

Among gold stocks‚ Sibanye was down 4.5% at R15.72. But platinum producer Lonmin was up 5.26% at R4.

Massmart gained 2.32% to R109.79. RCL Foods was down 9.39% at R14.86.

Mondi plc added 1.59% to R294.

- BDlive