Johannesburg - The JSE gained in Tuesday morning trade led by firmer world markets, and after last week's sell off, buyers were starting to take advantage of the local bourse.
At 9.26am, the JSE all share index was 0.82 percent higher, as banks added 2.05 percent, the gold mining index gained 1.44 percent and the platinum mining index climbed 1.31 percent. Financials edged up 1.12 percent, industrials collected 0.76 percent and resources shot up 0.73 percent.
The rand was bid at R7.10 to the US dollar from R7.15 when the JSE closed on Monday while gold was quoted at $665.35 per ounce from $662.00 at the JSE's last close.
"Buyers are taking advantage of the JSE after last week's sell off, and with the Dow index up, we are getting our drive from there," said a local trader.
He added that generally, world markets were giving the JSE direction.
Anglo American perked up R2.29, or 0.57 percent, to R405.50, and BHP Billiton recovered R1.57, or 0.77 percent, to R205.50.
Among gold miners, Anglogold Ashanti added R5.80, or 1.96 percent, to R302.00 and GoldFields edged up R1.68 to R118.48.
African gold miner AngloGold Ashanti on Tuesday reported adjusted headline earnings of $82 million for the quarter ended June, lower than $98 million in the previous quarter, due to stronger local operating currencies, higher exploration spend and continued hedge book reduction.
Gold production was up slightly to 1.35Moz from 1.33Moz last quarter, due to higher volumes mined, partially offset by lower recovered grade, while total cash costs were steady at $333 per ounce from $332.
Headline earnings adjusted for the profit on unrealised non-hedge derivatives, other commodity contracts and fair value adjustments on convertible bond amounted to 207 cents from a previous 251 cents.
An interim dividend of 90 South Africa cents, or 13 US cents, was declared.
Exxaro firmed 90 cents to R71.00.
Anglo Platinum collected R6.00, or 0.59 percent, to R1 015.00, and Impala Platinum lifted R4.00, or 1.97 percent, to R207.50.
Diversified industrial group Remgro was R1.97 higher at R180.47 and Barloworld was unchanged from its Monday close of R124.50.
Paper maker Mondi Ltd added R0.90 to R61.00 and Sappi edged up 52 cents to R115.00.
York Timber Organisation dipped 99 cents, or 3.96 percent, to R24.00. On Monday shares in York Timber Organisation plunged more than 37 percent which analysts attributed to news of fire damage to one of its plantations and sawmills but also the fact that its shares started trading ex-rights on Monday.
In real estate, property unit trust group Liberty International PLC eased 49 cents to R151.93 and among life assurers, Old Mutual edged six cents higher to R22.97.
In banks, Standard Bank collected R3.00 to R105.00, and Absa climbed 62 cents to R134.62.
Retailers Massmart and JD Group added 1.18 percent and 1.56 percent to R84.99 and R71.80 respectively.
Mobile Telecommunications Company, MTN Group edged R1.50 higher to R102.50 and fixed line operator Telkom added R1.46 or 0.87 percent to R170.01.
Petrochemical Giant Sasol was R1 higher at R266 and brewer SABMiller added 24 cents to R180.25.
AFX reported that Tokyo shares ended the morning session narrowly mixed on Tuesday, with the benchmark index under pressure, as an overnight rebound on Wall Street failed to completely wipe out concerns about the US housing and credit markets and their impact on equities.
In New York, Wall Street found a foothold on Monday as investors, still anxious that a credit crunch could crimp US growth, took advantage of low prices after last week's steep losses. The DJ Industrial average surged more than 90 points.
Solid earnings and takeover activity boosted the stock market, which was coming off the Dow's and the Standard & Poor's 500 index's biggest weekly drops in nearly five years.
The market initially wavered between positive and negative territory on Monday, but then pushed higher in afternoon trading as investors re-entered the market to scoop up bargains. - I-Net Bridge