The JSE came off its earlier best levels, but still managed to end in the black on Thursday as the market saw some profit on the back of weakening commodity prices with the strong local currency also adding pressure.

Positive trade on the Dow, however, was helping keep the bourse afloat, a trader said.

At 5pm the JSE all share index had collected 0.91 percent, with resources gaining 1.47 percent and platinums up 1.37 percent. However, gold miners weakened 0.18 percent.

Banks were down 0.33 percent, financials were flat, up 0.01 percent, and industrials were up 0.76 percent.

At 4.22pm, the rand was bid at 7.37 to the dollar from 7.47 just before the JSE closed on Wednesday. Gold was quoted at $1045.60 a troy ounce from $1041.03/oz just before the JSE's last close, and platinum was at $1333/oz, from $1323.50/oz at its previous close.

"We have come off our earlier highs, we just managed to hold on to our gains. Dow futures came off from their earlier highs," the trader said.

"I think we are seeing a bit of profit taking at these high levels. The strong rand has also put these resources under pressure. The positive Dow is keeping us afloat. We have some results out tonight and that will give some direction to the market," he said.

Dow Jones Newswires reports that basic materials stocks led the US stock market higher on Thursday morning following a better-than-expected profit report from Alcoa to kick off the third-quarter earnings season.

Stocks pared their gains, however, as US wholesale inventories declined more than Wall Street expected in August. Inventories shrank 1.3 percent to a seasonally adjusted $381.2-billion compared with the prior month, according to Commerce Department data on Thursday. Economists surveyed by Dow Jones Newswires forecast a decrease of 1.0 percent in August wholesale inventories.

The DJIA was recently up 36 points, or 0.4 percent, to 9761.48, helped by gains in 24 of its 30 components. Alcoa was up 3.6 percent after it reported a $77-million profit in the third period, ending a string of losses.

The Nasdaq Composite Index was up 0.5 percent. The S&P 500 rose 0.4 percent, helped by gains in every sector. The materials category posted the biggest rally, up 1.2 percent.

Investors on Thursday also hailed a deeper-than-expected decline in new claims for unemployment benefits, which helped to offset recent jitters sparked by weak readings of declining US payrolls and slowing manufacturing growth.

Initial claims for jobless benefits fell by 33 000 to 521 000 in the week ended October 3, the Labour Department said, the lowest level since 3 January. The number of continuing claims drawn by workers for more than one week in the week ended September 26 fell by 72 000 to 6 040 000 from the preceding week's revised level of 6 112 000. That represents the lowest figure since 28 March.

Also helping lift stocks, retailers posted better-than-expected September same-store sales. Shares of Macy's were up 1 percent after the department-store operator said comparable sales fell 2.3 percent, less than expected.

The DJIA was last up 0.42 percent.

Back in Johannesburg, Anglo American plc was up 3.43 percent to 256.50 rand and BHP Billiton added 1.77 rand to 208.77 rand.

Petrochemicals group Sasol put on 1.49 percent to 291.29 rand.

Paper group Sappi lost 2.70 percent to 27.44 rand.

Kumba Iron Ore firmed 2.11 percent to 241.50 rand and ArcelorMittal was up 1.02 percent to 114 rand.

Gold miner AngloGold Ashanti gave up 1.48 rand to 329.52 rand and Gold Fields weakened 80 cents to 110.20 rand, but Harmony picked up 1.60 percent to 86.75 rand.

Platinum miner Anglo Platinum put on 3.18 percent to 714 rand, Impala Platinum collected 43 cents to 173.43 rand and Lonmin profited 2.49 percent to 190.64 rand.

In diversified miners, African Rainbow moved four percent higher to 156 rand and Exxaro firmed 1.11 percent to 91 rand.

Elsewhere on the JSE, SABMiller gained 2.22 percent to 188.45 rand and Imperial added 1.53 percent to 81.77 rand but Famous Brands weakened 1.32 percent to 18.75 rand.

Among banks, Standard Bank weakened 30 cents to 96.10 rand, Nedbank gave up 81 cents to 117 rand and Absa declined 1.01 percent to 121.01 rand.

Retailer Woolies was up 2.43 percent to 16.84 rand, Truworths collected 1.61 percent to 43.59 rand, Foschini rose 2.80 percent to 62.40 rand and Mr Price was up 2.37 percent, to 34.60 rand.

Construction group Aveng added 2.08 percent to 44.20 rand and Murray & Roberts was up 1.62 percent to 59 rand.

Telecommunications group MTN Group weakened 86 cents to 129.05 rand and Telkom was off 1.38 percent to 42.30 rand, but Vodacom was up 1.85 percent to 55 rand.

I-Net Bridge