The JSE remained firm at midday today up just over 1% as strong commodity prices buoyed the market.
Platinum miners were the star performers, with the index up more than 2%.
By noon the JSE all share index had added 1.15%, with resources 1.28% firmer and platinum miners 2.25% stronger. However, gold miners gave up 1.82% after their recent strong run. Banks were 1.36% higher, financials collected 1.31% and industrials garnered 0.90%.
The rand was bid at 7.73 to the dollar from 7.74 at the JSE's close on Tuesday. Gold was quoted at US$1,236.05 a troy ounce from US$1,247.17/oz at the JSE's previous close while platinum was at $1,532.50/oz from $1,525.50/oz at the JSE's last close.
A local trader said global markets are still jittery. Overnight the US had a volatile session, but managed to close on a positive note, with the Dow Jones industrial average up 1.26%. However, Asian markets were mixed this morning.
Local gold counters pulled back after a strong run on Tuesday, and are taking a breather, but platinum miners continued to benefit from a strong platinum price.
The trader added that he expected volumes on the JSE to be fairly low in the near future, as World Cup fever grips the nation and with schools closed for the duration of the FIFA World Cup.
He added the JSE was having a bit of a rebound, but there was no particular reason other than it might be a rebound after a poor performance last month.
He noted good support for the alsi index at 26,000. "It is a good sign and hopefully we can form a base there," he said.
Dow Jones Newswires reports US stocks are called to open lower Wednesday, in line with futures, says David Morrison at GFT.
The DJIA is called down 20 points at 9920 and the S&P 500 down two at 1060.
Morrison notes traders have taken some comfort from a late bounce in US equities and a strong rally in Chinese stocks overnight, "but their bullishness was tempered by the Nikkei closing at a six-month low as exporters were weighed down by yen strength."
It was a mixed picture on Asian stock markets, with the Nikkei ending down just over 1%, but the Hang Seng up 0.7%. In London, the FTSE100 was last down 13.5 points.
On the JSE, Anglo was up R5.01, or 1.8%, to R279.31 and BHP Billiton added R4 or 2% to R200. Sasol advanced R2.36 to R271.36.
Platinum miner Anglo Platinum soared R28.99 or 4% to R754.99, while Impala Platinum added R2.38 or 1.3% to R181.45.
Among gold miners, AngloGold Ashanti shed R6.85, or 2% to R325.95, while Goldfields was R1.04 lower at R104. Harmony was off R2.24 or 2.9% to R75.75.
Diversified miner Exxaro advanced R2.82 or 2.6% to R109.20, while Kumba was up R4.03 or 1.36% to R300.03. Highveld was up R2.45, or 3.8%, to R66.50.
Among industrials, BAT added R1.50 to R239 and SABMiller advanced R1.80 to R211.30.
Bidvest advanced R1.47 to R125.47 and Barloworld was 30 cents better at R42.80.
Among banks, Standard Bank added R1.25 or 1.23% to R102.95 and Nedbank firmed R2.39 or 1.9% to R126.89.
MTN was R2.08 or 2% firmer at R100.30, while rival Vodacom collected 87 cents or 1.5% to R59.87.
Specialist chemicals group Omnia earlier reported diluted headline earnings per share of 123.8 cents for the year ended March 2010 from 1,059.1 cents a year ago.
Revenue was down 21% to 8.8 billion rand, while profit for the year declined 88% to R58m from R491m a year ago. Operating profit was down 68% to R279m. Its share price was down R2 or 3.2% to R60.
Remgro was up 77 cents to R92.27. Earlier it advised that for the year ended March 2010, its reported headline earnings per share (HEPS) is expected to be between 28% and 32% lower than those of the comparative year ended March 2009.
This decrease is mainly due to the unbundling of the investment in British American Tobacco (BAT) to Remgro shareholders as an interim dividend in specie on 3 November 2008. As a result no income from BAT was accounted for during the year under review, while BAT was still being equity accounted for the seven months ended October 2008 in the comparative year.
