The JSE ended 453 points firmer on Tuesday on improved market sentiment and optimism as the global financial sector shows signs of recovery.

By 5pm, the JSE all share index had added 2.07 percent, with resources up 2.46 percent and platinum counters adding 2.67 percent. However, gold miners were flat, down 0.40 percent.

Banks were up 3.43 percent, financials firmed 2.13 percent and industrials put on 1.58 percent.

The rand was last bid at 8.46 to the dollar from 8.64 when the JSE closed on Monday. Gold was quoted at $926.42/oz a troy ounce from $921.90/oz at the JSE's last close, and platinum was at $1135/oz, from $1130.50/oz at its previous close. Brent crude was at $58.28 from its previous close of $58.47.

"We ended firmer on the market. The sentiment is positive and there is optimism in the market. The banks are starting to believe in each other again.

"The market has run quite a lot and we might see some profit taking after this good run. In the short term, the market is overdone. With signs of recovery everyone wants to get into the market.

"Gold counters are slightly under pressure. There is risk appetite in the market. Gold stocks are considered to be a safe haven. When the market is positive there is a move away from gold counters," he said.

Dow Jones Newswires reports that US stocks were trading in a narrow range.

Data showing a surprising decline in residential construction squelched the housing-related hopes that were a key ingredient in the previous session's stock-market boom, leaving major US stock indexes slightly lower on Tuesday morning.

The US Commerce Department reported that housing starts unexpectedly fell in April, brought down by a large decline in apartment groundbreakings that offset a modest increase in single-family housing starts. Housing starts dropped 12.8 percent to a seasonally adjusted 458 000 annual rate compared to the prior month, the Commerce Department said.

The report ran counter to recent readings of builder sentiment and earnings at major home-improvement chains that painted a rosier picture of the housing market, whose woes are at the epicentre of the US recession.

However, most traders and analysts remain cautiously bullish on stocks, based in part on the idea that pressure is rising for investors sitting on the sidelines to put to work their excess cash, which is garnering little interest because of the Federal Reserve's rock-bottom target aimed at spurring an economic recovery.

When the local market closed, the DJIA had edged up 0.12 percent.

On the JSE, Anglo American was up 5.69 percent to 208 rand and BHP Billiton added 2.22 percent to 193.71 rand.

Petrochemicals group Sasol was up 1.60 percent to 304.30 rand.

Kumba Iron Ore put on 5.17 percent to 193 rand and ArcelorMittal was up 7.22 percent to 94 rand.

Gold miner AngloGold Ashanti lost two rand to 300.50 rand.

Platinum miner Anglo Platinum jumped 2.70 percent to 495 rand, Impala Platinum rose 3.10 percent to 166.50 rand and Lonmin collected 1.82 percent to 153.75 rand.

In diversified miners, African Rainbow gained 1.40 percent to 126.50 rand and Exxaro was up 1.97 percent to 77 rand.

Among industrials, brewer SABMiller weakened 1.18 rand to 164.40 rand but Bidvest was up 3.20 percent to 97.01 rand, Barloworld rose 6.73 percent to 38.55 rand and Imperial added 6.34 percent to 59.55 rand.

Tiger Brands firmed 1.89 percent to 135 rand. The group earlier reported a 16 percent decline in diluted headline earnings per share of 624.5 cents for the six months ended March 2009 from 739.5 cents a year ago. An interim dividend of 245 cents per share was declared, which is in line with that of 2008.

HEPS from continuing operations amounted to 607.1 cents - an eight percent increase on that achieved in the six months ended March 2008. Earnings per share from continuing operations increased by 24 percent to 610.7 cents per share.

The group said the higher percentage improvement in EPS compared to HEPS is primarily due to the inclusion in March 2008 of an abnormal charge of R112.3-million, which related to the impairment of the carrying value of the goodwill associated with the Beverages business.

Total group HEPS decreased by 17 percent to 627.3 cents compared to the same period last year. Total headline earnings of R984-million and group profit attributable to ordinary shareholders of R990.1-million are not directly comparable with the 2008 results as the prior year includes the results of the unbundled Healthcare interests.

Banking group Standard Bank advanced 3.20 percent to 87.20 rand, Nedbank put on 6.18 percent to 93.70 rand, Absa was up 4.09 percent to 105.70 rand and FirstRand collected 2.73 percent to 13.90 rand.

Financial services group Old Mutual rose 1.65 percent to 9.23 rand.

Sugar group Illovo added 3.76 percent to 27.60 rand but Tongaat-Hulett shed 3.03 percent to 76.50 rand.

Media group Naspers lost 1.51 percent to 196 rand.

Among retailers, Woolies was up 2.48 percent to 12.40 rand, Lewis added 3.46 percent to 44.80 rand, JD Group firmed 4.29 percent to 36.50 rand and Steinhoff rose 4.98 percent to 11.60 rand.

Liberty International gained 3.47 percent to 50.70 rand.

Construction group Aveng collected 5.90 percent to 31.40 rand, Group Five put on 5.85 percent to 33.50 rand and Murray & Roberts was up 10.13 percent to 50 rand.

Stefanutti Stocks added 8.39 percent to 8.40 rand. It earlier reported diluted headline earnings per share of 174.57 cents for the year ended 28 February up from 99.23 cents during the previous period.

A final dividend of 58 cents per share was declared.

The group also reported diluted earnings per share of 173.56 cents, from 99.59 cents in the same period the previous year.

Operating profit increased 113 percent, to R392.2-million, along with revenue up 144 percent, to R6.2-billion.

ICT group UCS Group was unchanged at 1.60 rand. It earlier reported diluted headline earnings per share down 60.2 percent to 5.1 cents per share for the six months ended March 2009 compared with 12.8 cents in 2008.

The interim dividend was maintained at four cents per share.

The group reported revenue growth of 27.6 percent to R725-million, 11 percent of which was organic. Profit for the period was down 89.2 percent at R5.035-million.

John Bright, CEO commented: "Trading conditions for the six months to 31 March 2009 continued to be difficult for UCS Group. Certain international projects were cancelled or postponed."

The non-food retail sector, which is a focus of the Group, remained under intense pressure due to weak consumer spend locally and internationally.

Telecommunications group MTN Group added 4.16 percent to 119 rand, but Telkom was down 1.85 percent to 58.89 rand.

Telkom earlier said that it expected basic earnings per share and headline earnings per share for the year ended March to decrease by 50 percent to 60 percent and approximately 40 percent to 50 percent respectively, from the previous period.

Discontinued operations include Vodacom Group, Telkom Media and Swiftnet.

The group said the main differences between basic earnings and headline earnings are the impairments and write-offs relating to property, plant and equipment and intangible assets, adding that the aggregate amount of these adjustments in the period was R879-million.

Vodacom weakened 3.40 percent to 56.80 rand. The newly listed mobile operator earlier reported diluted headline earnings per share of 417.4 cents for the year ended March 2009 from 528.4 cents for a year ago.

EPS amounted 409 cents from 525 cents before.

The group reported a 14.5 percent growth in revenue to R55.2-billion. Revenue from the South African operations increased 10.8 percent to 4R7.483-billion, contributing 86 percent to group revenue for the year ended. EBITDA grew to R18.2-billion, up 10.5 percent from the previous period.

It added that its customer base grew 6.5 percent to 39.6 million, while its broadband customers grew 80 percent.

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