THE JSE continued to trend higher at midday on Friday after a firm opening, as the market followed stronger Asian and European markets. The Dow Jones industrial average closed 1.29% higher on Thursday. Group of 20 leaders at their meeting in Shanghai committed themselves to support further global growth measures, despite some constraints developing, mainly in China. The Japanese Nikkei 224 closed 0.3% higher, the Hong Kong Hang Seng index added 2.52% and the Chinese Shanghai Composite firmed 0.95%. The FTSE 100 gained 1.23% at midday and the Dax was 2.31% higher. At 11.53am, the all share was 2.03% higher at 49,357.30 points. The blue-chip top 40 added 2.39%. All the main indices, bar gold, were trading in positive terrain, with industrials leading the upside, adding 2.28%, followed by resources, up 1.90%. Banks firmed 1.64% and financials added 1.56%. Platinums rose 0.84% despite a softer platinum price. The gold index dropped 0.88%. Chinese shares edged higher on Friday after being sold off the day before, Nedbank CIB analysts said. Exporters in Japan also gained ground. European markets were higher after two days of declines as investors concentrated on positive economic data and overlooked a fall in Chinese shares and a suppressed oil price. Brent crude rose on Thursday as lower US inventory number proved supportive. But Nedbank CIB analysts said a persistent glut in the oil market over the medium term was still expected. "We predict crude to test $30 a barrel again," they said. At 12.05pm the Brent crude price was 2.62% up at $36.09 a barrel. In the US, a second official estimate of fourth-quarter gross domestic product (GDP) growth, currently 0.7%, will be released later in the day. January data for personal income and spending are also due for release on Friday. Among individual shares on the JSE, South32 rocketed 13.32% to R14.63. Anglo American rose 0.65% to R95.78 after gaining more than 6% on Thursday. Sasol was up 2.26% at R425.42. Platinum counter Northam (NHM) gained 0.68% to R34.01 after the miner reported on Friday morning a loss of R273m for the six months to end-December, compared with a profit of R354m a year ago. It recorded a headline loss per share of 66.3c from earnings of 89.4c before. Among banks Standard Bank was 2.73% higher at R112.26 ahead of results next week. FirstRand rose 1.48% to R45.95. Discovery rebounded 2.73% to R118.40. Among property stocks Intu gained 3.49% to R62.82. The group left its dividend for the full year to end-December unchanged at 13.7 pence.

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