The JSE ended in positive territory yesterday as the market rebound from yesterday's volatile session.
The JSE all share index gained 2.43% while resources added 2.86% and platinum miners closed 4.22% firmer. Gold miners, however, lost 1.33%.
Banks added 2.03%, financials gained 2.24% and industrials were 1.93% on the day.
The rand was bid at 7.71 to the dollar from 7.72 at the JSE's close yesterday. Gold was quoted at US$1,227.26 a troy ounce from US$1,236.76/oz at the JSE's previous close, while platinum was at $1,539.50/oz from $1,523/oz at the JSE's last close.
"We have had quite a strong day relative to world markets," a local equities trader said, adding that investors were again finding the confidence to return to the market.
The JSE ended in the red yesterday after the local bourse tracked the waxing and waning fortunes of its global counterparts amid continued jitters over the European sovereign debt crisis.
"We have been keeping an eye on international markets," said the local trader, noting that Asian markets also turned positive towards the close while the US was trading higher on Federal Reserve chairman Ben Bernanke's positive statements on the US economy.
Bernanke told the House Budget Committee that the US economy appears to be on track to continue to expand through this year and next.
He did, however caution that the pace of growth was unlikely to be strong enough to fix the jobs market and cut a huge budget deficit.
But Bernanke's testimony went some way to reassuring investors as he said a continued increase in consumer spending and business investment should make up for a fading government stimulus in lifting the economy.
Dow Jones Newswires reported that US stocks rose Wednesday as investors found encouragement in Bernanke's testimony and also on a report of surging Chinese exports.
Chinese exports reportedly surged about 50% in May.
"That's probably what the market's looking for, some assurances that the economy hasn't fallen off a cliff," said Barry Knapp, managing director of equity research at Barclays Capital.
"It just looks as if everything that's happened at this point at least hasn't had a big impact on global growth," Knapp said.
