Stocks closed marginally up on the JSE on Thursday, taking their lead from the Dow, which showed signs of a recovery from a battering yesterday.

By its close, the JSE all share index had nudged 0.50 percent higher, led by platinum counters, up 1.90 percent and industrials, 1.64 percent higher.

Resources slipped 0.41 percent, with gold miners down 2.37 percent. Banks gave up 0.29 percent and financials weakened 0.38 percent.

The rand was last bid at 8.57 to the dollar from 8.48 when the JSE closed on Wednesday. Gold was quoted at $926.20/oz a troy ounce from $926.85/oz at the JSE's last close, and platinum was at $1109/oz, from $1097/oz at its previous close.

A local trader said: "The Dow is showing signs of recovery at the moment after some (recovery from previously) bad numbers in retail sales. The local market seems to be following on from that, showing signs of resilience.

"Platinum is up slightly after a few weak sessions, and a slightly weaker rand is also benefiting local stocks," the trader said.

Dow Jones Newswires reports that buyers trickled back to the battered US stock market on Thursday, encouraged by surprisingly steady results from major retailers.

That news, combined with participants' usual impulse to hunt for bargains after a big market decline, outweighed glum big-picture data on the US economy. New readings of initial jobless claims and wholesale-level inflation were worse than expected.

Major indexes posted small gains. The Dow Jones Industrial Average, which suffered a 184-point slide on Wednesday, was up 29 points at 10.20am EDT.

The Nasdaq Composite Index was up 0.9 percent and the S&P 500 gained 0.4 percent. Its two consumer sectors, covering companies that sell everyday items and ones whose products do well when shoppers are splurging, each rose about 0.8 percent.

Though Thursday's showing among consumer names wasn't eye-popping, it represented a marked improvement over the previous session, when a worse-than- expected reading of retail sales from the Commerce Department sparked a broad market decline.

Wal-Mart Stores shares slipped 1.2 percent after it said earnings in the period came in flat and forecast second-quarter results in line with expectations.

Kohl's shares climbed 0.9 percent after its earnings slipped by a less-than-expected 10 percent but revenue and margins improved. Urban Outfitters rose one percent after posting a 12 percent decline in first-quarter earnings, less than analysts expected.

Initial claims for state jobless benefits increased 32 000 to 637 000 in the week ended 9 May the Labour Department said, and the total number of unemployed drawing jobless benefits also climbed, to a record 6.56 million. The four-week average of claims rose by 6000 to 630 500. Claims receded slightly last week, raising some hopes that the job market may be stabilising after months of deep job losses.

The continued weakness in the job market, which is closely linked to spending, has left some investors sceptical of the stock-market rebound and the recent consensus that the US economy is due for a rebound soon.

In other economic data on Thursday, treasury prices were higher, as the 10- year note climbed to 18/32, yielding 3.112 percent. Oil futures were slightly lower but still near $58 a barrel. Gold futures were flat. The dollar gained against the euro and the yen.

Asian stocks suffered on Thursday, with the Hang Seng losing 3.1 percent. The Nikkei 225 dropped 2.6 percent in Tokyo. Stocks in Europe also sank.

Back in Johannesburg, Anglo American was down 95 cents to 189.05 rand but BHP Billiton advanced 1.41 rand to 181.41 rand.

Petrochemicals group Sasol fell 2.74 percent to 284 rand.

Paper group Sappi lost 14 cents to 24.50 rand but rival Mondi was up 5.66 percent to 29.70 rand.

ArcelorMittal declined 2.82 percent to 86 rand while Kumba Iron Ore picked up 5.71 percent to 185 rand.

Among gold miners, AngloGold Ashanti shed 2.25 percent to 312.21 rand, Gold Fields gave up 2.51 percent to 105 rand and Harmony lost 2.30 percent to 90.86 rand.

Platinum miner Anglo Platinum was up three rand to 480 rand and Impala Platinum added 2.41 percent, to 170 rand but Lonmin lost one rand to 150 rand.

Diversified miner African Rainbow was down 2.46 percent to 123 rand.

Among industrials, brewer SABMiller picked up 1.23 percent to 160.25 rand.

The group earlier reported a four percent decline in adjusted headline earnings per share to 137.5 US cents for the year ended March 2009 from 143.1 cents a year ago.

In UK currency EPS were up four percent to 79.7 pence, while in South African rands, EPS were up 19 percent to 1218.6 SA cents. The Board has recommended a final dividend of 42.0 US cents per share, which will be paid to shareholders on 28 August 2009. This brings the total dividend to 58.0 US cents, unchanged from the prior year.

Group revenue was up six percent at US$25.30-billion and profit before tax was down nine percent at $2.958-billion.

Lager volumes were up two percent to 210 million hectolitres, with organic lager volumes level with the prior year despite weakened consumer demand. Organic soft drinks volumes were up five percent. The group reported organic, constant currency group revenue growth of nine percent, benefiting from strong pricing.

Barloworld lost 25 cents to 37.25 rand, Tiger Brands was down 2.26 percent to 127.30 rand and Imperial declined 2.09 percent to 53.70 rand. AECI gained 5.01 percent to 47.35 rand.

Among banks, Standard Bank was down 80 cents to 81.30 rand and Santam shed 3.47 percent to 75.05 rand while Absa picked up 1.28 percent to 95 rand. Investec added 2.88 percent to 41.15 rand.

Media group Naspers jumped 9.67 rand or 5.08 percent to 200 rand.

Among retailers, Truworths was down 1.16 percent to 34.16 rand, however, Shoprite added 2.18 percent to 51.09 rand.

ICT group Datatec declined 1.45 percent to 14.98 rand. It earlier reported underlying earnings per share of 33.1 US cents for the year ended February 2009 from 47.3 US cents a year ago.

Revenue rose to US$4.2-billion from $4.0-billion in 2008, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined to $126-million from $151-million. Cash generated from operations rose to $195-million from 2008's $77-million.

The capital distribution per share of 12 US cents was unchanged from 2008.

The group said its scale and diversity continues to mitigate the impact of the current economic climate and the group has shown relative resilience in a tough market.

Approximately 50 percent of EBITDA has been derived from integration, services and consulting, it noted.

A highlight was the strong performance from Logicalis in all regions with the division reporting EBITDA up 57 percent to $57-million.

Technology group Reunert shed 5.47 percent to 38 rand.

Telecommunications group MTN Group advanced 3.77 percent to 111.55 rand with Telkom up 2.25 percent to 113.50 rand.

I-Net Bridge