Johannesburg - The JSE was lifted by overseas markets in early trade on Monday to recover by 240 points after it closed in the red on Friday.
By 9.23am, the all share index was 0.87 percent firmer, with resources advancing 2.26 percent, golds 1.42 percent and banks 1.59 percent. The platinum index was up 0.93 percent and financials just 0.42 percent, but industrials lost 0.66 percent.
The rand was bid at R7.56 to the dollar from R7.54 when the JSE closed on Friday, while gold was quoted at $961.15 per ounce from $958 at the JSE's last close.
"We have had some good earnings from the States and Asian markets giving us a boost this morning," said Deon Strydom from Nedbank Capital Markets.
However, there is a difficult week ahead, with the market waiting to see if resources stabilise and the rand moves weaker, he said.
Added to this is concern that financials will end their recent good run.
"No one will just want to buy - we will be data driven this week," he said.
Dow Jones Newswires reported European shares are tipped to start very slightly higher on Monday, after markets edged higher on Friday, gaining as better-than-expected results from Citigroup offset some downbeat news on sales and earnings trends from supermarket group Delhaize and cosmetics firm L'Oreal.
Wall Street futures are mixed on Monday, after Citigroup and General Motors rallied on Friday, while coal miners and Google slid.
Asian markets jumped on Monday, with Hong Kong stocks surging on steep gains in market heavyweight HSBC Holdings, as Citigroup's results eased worries about the health of the US banking sector.
"People are saying that Citigroup's losses weren't that great, so the ultra-negative sentiment toward other global banks such as HSBC has possibly been overdone," said Andrew Sullivan, a sales trader at Main First Securities in Hong Kong.
Japanese markets were closed for a holiday.
On the JSE, resource giant Anglo American advanced R9.70, or 2.31 percent, to R430 and BHP Billiton collected R7.93, or 3.29 percent, to R249.33. Sasol also reversed from its strong losses on Friday to add R6, or 1.50 percent, to R406.
AngloGold Ashanti gained R4, or 1.47 percent, to R276 and Harmony was R2.24, or 2.50 percent better, at R91.99. Anglo Platinum was up by R10, or 1.03 percent, to R979 and Impala Platinum by R3, or 1.33 percent, to R229.
Brewer SABMiller lost 79 cents to R173.49, Richemont was unchanged at R44.10, but consumer foods brands maker Tiger Brands was up R4.80, or 3.33 percent, to R148.80.
MTN - not surprisingly - lost a whopping R7.80, or 5.99 percent, to R122.50 after talks with India's second-largest mobile carrier Reliance Communications broke down.
MTN said in a statement after the market had closed on Friday: "Owing to certain legal and regulatory issues, the parties are unable to conclude a transaction.
"Accordingly, it has been mutually decided to allow the exclusivity agreement to lapse and caution is no longer required to be exercised by shareholders when dealing in MTN securities."
Banks, which have had a strong run late last week, were a little more mixed. Standard Bank was 90 cents, or 1.06 percent, in the black at R86, but Nedbank was down by 30 cents to R100.80. Absa had gained R2.37, or 2.58 percent, to R94.37.