The JSE closed just over a percent higher on Friday, amid a volatile day and on the back of strong commodities.

At its close, the JSE all share index had added 1.40 percent, with gold mining stocks rising 1.50 percent and resources adding 2.57 percent. Platinum miners were flat, up 0.23 percent, with industrials also marginally up (0.18 percent). Banks climbed 0.90 percent and financials gained 1.09 percent.

The rand was last bid at 8.41 to the dollar, from its last total of 8.42 when the JSE closed on Thursday. Gold was quoted at $908.03/oz a troy ounce from $911.65/oz at the JSE's last close, and platinum was at $1140/oz, from 1145.50/oz at its previous close.

A local trader said: "We started off strong this morning, but lost a bit in the middle part of the day, pulling back again this afternoon. It's Friday, and after a strong week, there has been profit taking.

"Commodities remain strong, with the rest of the market flat or down," he said.

Dow Jones Newswires reports US stocks were stronger on Friday despite a report showing that job losses are still accumulating at a brisk rate.

The Dow Jones Industrial Average was higher by 111 points. The S&P 500-stock index was up 1.4 percent, while the Nasdaq Composite Index rose 0.9 percent.

Though the headline payrolls number was not as bad as many feared it would be, the report painted a stark picture of an economy that is still shedding jobs at an historic clip. One of the few sectors of the economy-adding workers is the government; a jump in hiring for the Census helped boost the overall data.

Non-farm payrolls fell 539 000 in April, the Labour Department said, better than the mean expectation for a 610 000 decline. The government added 72 000 jobs but construction, manufacturing and retail saw deep losses. Economists pointed out that without the government hiring, job losses would have met the forecast.

The unemployment rate jumped 0.4 percentage point to 8.9 percent, the highest level since September 1983. Many economists expect the rate to eventually top 10 percent.

Meanwhile, banks were mostly higher after the results of the government's stress tests were aired. Banks broadly must raise US$75 billion in fresh capital to cover a potential US$599 billion of credit losses over two years, the tests found.

Wells Fargo and Morgan Stanley immediately announced plans to raise capital, and shares of both banks declined on the dilution those deals will represent for existing shareholders. But Bank of America and Citigroup rose sharply in early trading. Bank of America needs to raise $34-billion, the largest amount of any of the banks with a capital hole. Citigroup needs to raise $5.5-billion, less than some analysts had feared.

Many regional banks that were told to raise more capital were also rising. Fifth Third Bancorp, which needs US$1.1-billion, surged 34 percent, while Regions Financial, which is facing a $2.5-billion capital gap, was up 3 percent. SunTrust Banks, which needs to raise $2.2-billion, was up more than 2 percent.

Crude oil futures continued to climb along with the stock market, pushing north of $58 a barrel in recent activity. That jump pumped up energy stocks, as oil majors like Chevron, up three percent, and Exxon Mobil, up one percent, helped lead the market.

Overseas, stocks were mostly higher. The Nikkei 225 closed 0.5 percent higher in Tokyo. The FTSE 100 was up 1.1 percent.

Among movers on the JSE, Anglo American added 4.08 percent to 203.60 rand and BHP Billiton picked up 1.67 percent to 193.49 rand.

Petrochemicals group Sasol added 5.33 percent to 294.99 rand. Brent crude is up to $57.14 per barrel, up 1.19 percent.

Among gold miners, AngloGold Ashanti added 1.07 percent to 296.10 rand and Gold Fields advanced 2.98 percent to 99.90 rand.

Harmony picked up 30 cents to 83.80 rand after South Africa's third- largest gold producer earlier reported a 1.7 percent increase in headline earnings for the quarter to end March with HEPS recorded at 123 cents compared with 121 cents for the previous quarter.

The improvement was more notable on a year-on-year basis with HEPS climbing 95.2 percent from the 63 cents reported for the March quarter last year.

Production for the quarter at 349 801 ounces was 3.4 percent lower than the December quarter's 362 242 ounces.

Platinum miner Anglo Platinum clawed back 2.05 rand to 499.50 rand after giving up more than 11 rand earlier in the day. Lonmin added 3.04 percent to 203.30 rand and Aquarius added 9.86 percent to 39 rand.

Diversified miner Exxaro added 6.24 percent to 74.90 rand with Kumba Iron Ore adding 7.55 percent to 188.70 rand.

British American Tobacco picked up 2.47 percent to 214.50 rand while Bidvest advanced 2.17 percent to 94 rand and Tiger Brands picked up 2.09 percent to 130.73 rand. SABMiller shed 1.92 percent to 154 rand.

Among bankers, Standard Bank added a rand, or 1.24 percent, to 81.60 rand. Investec plc picked up 2.35 rand, or 5.68 percent, to 43.75 rand.

Among retailers, Foschini dropped 2.06 percent to 47.50 rand while Spar was up 6.39 percent to 54.79 rand.

Publisher Naspers added 2.91 percent to 188 rand.

I-Net Bridge