By Tiisetso Motsoeneng
The JSE bounced back supported mainly by platinum shares on fresh investment news and renewed optimism after overseas markets shrugged off concerns about China's overheating economy.
The all share index closed 0.96% higher. Resources ended 1.02% stronger, while gold and platinum mining indices added 0.85% and 2.00% respectively.
Industrials were up 0.96%, financials improved 0.81% and banks picked up 1.25%.
The rand was bid at 7.01 per dollar, from 7.03 when the JSE closed on Wednesday, while gold was quoted at US681.55 a troy ounce from $692.35/oz at the JSE's last close.
"The China cloud has evaporated - we are looking very strong," a Johannesburg-based dealer said.
The dealer added that the strong opening on the Wall Street later in the session added to the widespread gains on the local bourse while M&A news in Europe buoyed banks and financials.
A second dealer said that platinum stocks featured strongly on the upside on news that Zurich Cantonal Bank (ZKB) will launch three new exchange-traded funds (ETF) on May 10 - the ZKB Silver ETF, ZKB Platinum ETF and ZKB Palladium ETF.
ETFs are similar to stocks, but track the price of gold or silver. Metal to back ETF shares is put into storage, thus creating actual physical demand.
Platinum producer Impala Platinum (IMP) climbed 2.37%, or 5.80 rand, to 251 rand, Northam Platinum (NHM) surged 3.13%, or 1.80 rand, to 59.30 rand and Anglo Platinum (AMS) was up 1.62%, or 20 rand to 1,258 rand.
But junior platinum miner Wesizwe Platinum (WEZ) tumbled 6.89%, or one rand, to 13.95 rand. Before the opening the company said it was in talks about a possible acquisition.
The Johannesburg-based dealer said that banks gained on the back of strong M&A activity in Europe since the deals required them to do valuations on the planned deals.
Standard Bank (SBK) was up 1.10 rand to 112.60 rand, Fisrtrand (FSR) added 1.55%, or 39 cents, to 25.59 rand and Nedbank (NED) was up 1.76%, or 2.70 rand, to 156.20 rand.
A strong opening on Wall Street, coupled with gains in other overseas markets, heightened optimism that China would apply calculated measures to cool its overheating economy.
London-listed resources giant Anglo American (AGL) picked up 1.15%, or 437 rand, to 383.85 rand and BHP Billiton (BIL) was up 18 cents to 161.50 rand.
Gold miners also rose as the yellow after the yellow metal rallied above $690 rand during the session. AngloGold Ashanti (ANG) gained 1.24%, or 410 rand to 335.99 rand and GoldFields (GFI) added 70 cents to 134 rand.
Petrochemicals group Sasol (SOL) inched up 1.50 rand to 246 rand.
Insurance giant Old Mutual (OML) picked up 1.35%, or 33 cents, to 24.70 rand, Liberty (LGL) rose 2.35%, or 2.07 rand, to 89.97 rand but Sanlam (SLM) tumbled 3.33%, or 75 cents to 21.75 rand.
Elsewhere, consumer goods group Tiger Brands (TBS) soared 7.08%, or 13.25 rand after it said that it has taken an "in-principle" decision to exit the healthcare business following a strategic review of its healthcare interests.
The healthcare businesses to be divested of are the Pharmaceutical and Hospital Products interests of wholly-owned subsidiary company Adcock Ingram Holdings.
London-listed brewer SABMiller (SAB) was up 55 cents to 163.52 rand, and Barloworld (BAW) surged 4.17%, or eight rand, to 200 rand.
I-Net Bridge