The JSE ended in the black on Wednesday pushed by positive company earnings in the US, particularly Wells Fargo.

At 5pm the JSE all share index had edged 0.46 percent higher, with gold miners flat, up 0.04 percent, but resources lost 0.16 percent, and platinum producers eased 0.92 percent.

Banks collected 1.88 percent, financials were up 1.40 percent and industrials edged up 0.64 percent.

At 4.50pm the rand was bid at 7.36 to the dollar from 7.35 just before the JSE closed on Wednesday. Gold was quoted at $1060.30 a troy ounce from $1055.17/oz just before the JSE's last close, and platinum was at $1361/oz, from $1344.50/oz at its previous close.

A local trader said: "We had a dip in the market this afternoon, which then perked up not long before close. The catalyst was predominantly Wells Fargo's earnings in the US, which also saw positive earnings from American Express and JPMorgan.

"Wells Fargo, however shot out the lights so to speak, lifting international markets because of its consumer effect. Commodity prices also lifted, while there are only a few soft spots in resources," the trader said.

Dow Jones Newswires reports that US stocks traded higher on Wednesday as Morgan Stanley's first quarterly profit in four quarters and a robust profit from Wells Fargo drove a rallying financial sector.

The Dow Jones Industrial Average recently traded 50 points, or 0.5 percent, higher at 10089. Financials, including American Express and JPMorgan Chase, were among its leading gainers.

Helping spur the move, Morgan Stanley gained 6 percent to US$34.47, as it snapped three straight quarterly losses by posting a profit in the third quarter thanks to investment banking and fixed income sales and trading.

Still, earnings were down 91 percent from the year earlier period, which benefited from a large one-time gain.

In addition, Wells Fargo posted $3.2-billion in third-quarter net income on Wednesday, though its loan losses and non-performing loans continued to rise.

"That Wells Fargo number was very good and confirmed some of what we were hoping," said Thomas Nyheim, a portfolio manager with Christiana Bank & Trust. "That they could do this even with their acquisition of Wachovia, that's the one thing that really sticks out this morning.

On the JSE, Anglo American plc shed 50 cents to 277.50 rand, but BHP Billiton collected one rand to 223 rand.

Petrochemicals group Sasol dropped 1.08 percent to 310.40 rand.

Paper group Sappi gained 2.13 percent to 26.35 rand.

Highveld Steel gave up 4.18 percent to 66.50 rand.

Gold Fields garnered 1.06 percent to 105.10 rand.

Platinum miner Anglo Platinum gave up 2.23 percent to 658 rand, Northam Platinum fell 3.01 percent to 37.05 rand and Lonmin declined 1.27 percent to 206.55 rand.

In diversified miners, African Rainbow moved 1.12 percent to 154.17 rand and Exxaro eased 1.63 percent to 92.47 rand.

Metal group ArcelorMittal declined 1.66 percent to 112.85 rand.

Elsewhere on the JSE, brewer SABMiller firmed 1.99 rand to 202.61 rand and British American Tobacco added 1.09 percent to 243.26 rand, but Imperial was off 5.45 percent to 78 rand.

Tiger Brands subsided 1.50 percent to 153.73 rand.

Pretoria Portland Cement weakened 1.20 percent to 32.90 rand.

Among banks, Standard Bank pocketed 2.27 percent to 104 rand, with FirstRand up 2.92 percent to 17.65 rand.

Discovery moved 2.84 percent higher to 29 rand.

Pioneer Foods saw a 3.77 percent rise to 35.80 rand.

Media group Naspers picked up 1.72 percent to 279.70 rand.

Retailer Spar firmed 1.28 percent to 67.40 rand, JD Group added 1.12 percent to 45.25 rand and Woolies rose 2.80 percent to 17.60 rand.

Truworths firmed 2.25 percent to 45.50 rand but Massmart wavered 1.69 percent to 87 rand.

Pick n Pay profited 2.41 percent to 40.45 rand. On Wednesday the group reported headline earnings per share for continuing operations for the six months ended August 2009 of 100.30 cents — up 11.1 percent from the 90.31 cents reported last year.

Diluted HEPS from continuing operations amounted to 98.85 cents from 89.76 cents and diluted HEPS 84.64 cents from 80.53 cents before.

The group declared an interim dividend per share of 39.75 cents for Pick n Pay Stores (+11.2 percent) and 19.31 cents for Pick n Pay Holdings (+10.6 percent).

Operating profit at R927.8-million was 35.9 percent above last year, and included a profit on the sale of certain properties of R190.9-million.

Turnover for the Pick n Pay group for the period increased 12.3 percent to R26.6-billion.

Construction group Aveng weakened 2.26 percent to 41.05 rand and Murray & Roberts declined 4.52 percent to 56.80 rand.

The group pointed to slow general business conditions in its South African markets through the first quarter of the new financial year.

In a statement following its 61st annual general meeting, Murray & Roberts said that the local economy was expected to take longer than previously forecast to emerge from the effects of recession.

"There is currently little private sector involvement in the South African market, which negatively impacts the short- to medium-term outlook for domestic mining, industrial and commercial project opportunity," it said.

Group Five fell 3.02 percent to 39.50 rand, Cashbuild dropped 2.69 percent to 72 rand, and WBHOVCO eased 2.91 percent to 116.51 rand.

Among telecommunications groups, MTN Group advanced 2.11 percent to 124.25 rand, Telkom picked up 1.81 percent to 45 rand and Vodacom profited 1.41 percent to 54 rand.