The JSE ignored a strong opening on Wall Street and ended flat on Monday, with a trader noting that participants were tentative and opted to take profits in a market that lacked direction.

By 5pm, the JSE all share index was flat, down 0.15 percent, with resources losing 0.93 percent. Platinum miners were off 0.80 percent and gold counters edged down 0.26 percent.

Banks lost two percent and financials weakened 0.46 percent, but industrials were up 1.02 percent.

The rand was last bid at 9.93 to the dollar from 9.97 when the JSE closed on Friday. Gold was quoted at $923.20/oz a troy ounce from $928.85/oz at the JSE's last close, and platinum was at $1057/oz from its previous close of $1054.50/oz.

"We are flat - it's quite a mixed bag out there. Resources are down but industrials are up," a Johannesburg-based trader said.

"Everyone is tentative. We are reaching some significant technical levels. If we break higher, we could see more upside on the market. But at the moment there is some profit taking and everyone is waiting to see what will happen.

"The Dow is up and Europe was up too. At the moment it's touch and go. People are sitting on the sidelines ahead of the futures close-out on Thursday," he said.

Dow Jones Newswires reports that US stocks climbed on Monday amid continued gains for banking shares, extending a rally that lifted markets from bear-market lows last week.

Stock markets knitted together four straight days of gains last week, bolstered by assurances from the CEOs of big banks that the first two months of the year were profitable, a flurry of merger activity in the healthcare sector and better-than-forecast retail sales. The Dow industrials rose nine percent and the S&P 500 gained 10 percent.

Hope that the recession may end before 2009 is out and that regulators worldwide will step up efforts to unclog banks' balance sheets helped stocks build on those gains.

Federal Reserve Chairman Ben Bernanke said in television interview broadcast on Sunday that the US recession would likely end this year but that a recovery would hinge on the health of financial markets. "The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis," Bernanke said.

At the time the JSE closed, the DJIA had last collected 1.03 percent.

Among equity movers on the JSE, Anglo American was down 1.17 rand to 158.83 rand and BHP Billiton lost 3.08 percent to 183.81 rand.

Petrochemicals group Sasol was up 1.98 percent to 263.20 rand.

Highveld Steel weakened 1.83 percent to 67.49 rand but ArcelorMittal was up 1.19 percent to 69 rand and Kumba Iron Ore added 4.03 percent to 155 rand.

Gold miner AngloGold Ashanti was off 1.44 percent to 337.01 rand but Gold Fields edged up 40 cents to 123.50 rand and Harmony added 2.52 percent to 113.80 rand.

Platinum miner Anglo Platinum added 3.16 percent to 460 rand but Impala Platinum gave up 2.54 percent to 139.42 rand and Lonmin weakened 3.76 percent to 179 rand.

In diversified miners, African Rainbow put on 5.78 percent to 120.80 rand and Exxaro was up 2.81 percent to 65.80 rand.

Among industrials, brewer SABMiller firmed 2.15 percent to 138.11 rand, Remgro gained 3.79 percent to 69.80 rand and British American Tobacco strengthened 1.16 percent to 235 rand.

Banker Standard Bank put on 2.43 percent to 76.35 rand, Nedbank lost 1.75 percent to 76.93 rand, Absa gave up 3.11 percent to 90.20 rand and FirstRand weakened 2.50 percent to 11.70 rand.

Financial services group Old Mutual eased four cents to 5.53 rand but Sanlam was up 2.11 percent to 15.47 rand.

Sugar group Tongaat-Hulett lost 1.52 percent to 74.50 rand.

Media group Naspers added 3.29 percent to 157 rand while Caxton weakened 4.55 percent to 10.50 rand.

Retailer Massmart gave up 7.31 percent to 63.31 rand, but Lewis was up 2.23 percent to 35.79 rand, JD Group added 4.31 percent to 30.25 rand, Shoprite collected 2.40 percent to 49.16 rand and Steinhoff rose 1.83 percent to 9.47 rand.

Liberty International put on 4.70 percent to 49.21 rand.

Gaming and entertainment group Gold Reef Resorts collected four cents to 16.94 rand. It earlier announced a 69.8 percent increase in headline earnings per share from 76.7 cents to 130.7 cents for the year ended December. On an adjusted basis, however, earnings were down 9.4 percent to 136.5 cents.

The group maintained the dividend for the period at 65 cents per share, covered 2.1 times by adjusted HEPS.

The group increased revenue by 29.1 percent to R2.2-billion with the first full year of contribution from Silverstar Casino expanding the Group's share of the Gauteng gaming market to 24.5 percent. Silverstar Casino contributed R510-million to group revenue and R191-million to EBITDAR on an adjusted basis.

Construction group WBHO was up 1.20 percent to 85.50 rand.

Cement manufacturer Pretoria Portland Cement firmed 2.29 percent to 29 rand.

Telecommunications group MTN Group edged up 75 cents to 98.95 rand but Telkom lost 32 cents to 100.68 rand.

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