Stocks moved in line with world markets and extended gains by noon on Monday, supported by resources and precious metal counters after markets saw a sell off on Friday.

At 12.05pm the JSE all share index had gained 1.25 percent, with resources up 1.97 percent, gold miners collecting 0.55 percent and platinum producers adding 2.12 percent.

Banks put on 1.41 percent and financials and industrials were up 0.97 percent and 0.66 percent respectively.

The rand was bid at 7.35 to the dollar from 7.33 just before the JSE closed on Friday. Gold was quoted at $1055.10 a troy ounce from $1050.99/oz just before the JSE's last close, and platinum was at $1351/oz, from $1338.50/oz at its previous close.

"We have extended gains, platinum stocks are very strong. Also the general miners are up and they are supporting our market," a trader said.

"We are moving up in line with world markets. Europe is up and Dow futures are currently up. We are seeing buying come back into the market after the sell off we had late in Friday's session.

"There are corporate earnings out and the market will focus on that this week. As long as these earnings come out in line with expectations, we will see markets move higher," she said.

Dow Jones Newswires reports that the FTSE 100 remained firm on Monday, with healthy mining stocks offering the index support, as base metal prices rise in Asia overnight. Still, with economic data thin on the ground, traders look to Fed chairman Bernanke's speech in California at 3pm GMT.

"Investors will be looking for any signs of an easing in economic stimulus or movements in interest rates as concerns about the weakness of the dollar start to grow," said Nick Mitchell, trader at CMC Markets.

The FTSE 100 was last up 1.21 percent.

US stocks are expected to open positively on Monday, as Asia reverses losses and European markets remain solid. David Morrison at GFT called DJIA up 30 points and S&P 500 up three points. Morrison noted this was a big week for earnings as half of the companies in the DJIA and a quarter in the S&P 500 will report. Before the bell there will be earnings news from BB&T, Boston Scientific and Hasbro, while Apple and Texas Instruments report after the close. Elsewhere, the Fed chairman will speak on the economy at 3pm GMT.