Stocks ended 412 points higher on Monday, boosted by resource and precious metals counters with a positive Wall Street also providing support.

At 5pm the JSE all share index had gained 1.59 percent, with resources up 2.22 percent, platinum producers rising 1.17 percent and gold miners inching 0.19 percent higher.

Banks advanced 3.65 percent, financials rose 2.42 percent and industrials edged up 0.48 percent.

The rand was bid at 7.40 to the dollar from 7.50 when the JSE closed on Friday. Gold was quoted at $1106.70 a troy ounce from $1096.60 at the JSE's last close, and platinum was at $1356.50/oz, from $1340/oz at its previous close.

"We've had a good day, international fundamentals are still positive," a trader said.

"The dollar remains weak and shows that there is an appetite for risk.

The dollar price of metals has picked up. It appears that the trend seen in the market since February is still in play - when the market pulls back, buyers come in.

"Dow futures are also positive. It looks like it's going to continue, there is good appetite for risk," he said.

Dow Jones Newswire reported that US stocks opened higher on Monday, led by the materials and energy sectors as commodities prices rose and the dollar fell, reflecting a move back into some of the riskier areas of the market that have lagged in recent weeks.

Monday's gains come as the stock market attempts to recover from a weak and volatile past few weeks as investors began shying away from risk after they had flocked toward it for much of the rally since March.

"We now see a lot more people and traders more sceptical of the market, which is a plus," as it means there's plenty of money left to come in to the market and send it higher, said Steven Goldman, market strategist at Weeden & Co.

Goldman added that with some of the market's declines in recent weeks "having cleaned out the excesses", he now expects investors to be more selective in choosing which stocks to buy. "We're likely to see that the lower-quality stocks are no longer the leaders, as we're getting into a little more defensive market."

Still, Monday's action saw some of the areas that are considered riskier leading the gains. The Standard & Poor's 500 increased 1 percent, led by its materials and energy sectors as metals and oil futures climbed.

At the time the JSE closed, the DJIA had last added 0.97 percent.

On the JSE, Anglo American plc added 9.46 rand, or 3.17 percent, to 307.46 rand and BHP Billiton was up 6.79 rand, or 3.19 percent, to 219.61 rand.

Petrochemicals group Sasol gained three rand, or 1.03 percent, to 295 rand.

Paper group Sappi edged up 25 cents to 28.90 rand.

Earlier Sappi reported a full year loss of US$0.37 a share compared to earnings per share of US$0.28 the previous year.

The company's full year sales dropped 8 percent to US$5.37-billion in the year to end September 2009 from US$5.86 billion a year ago.

A full year operating loss of US$73-million was reported against last year's operating profit of US$314 million.

Highveld Steel rose 1.83 rand, or 2.99 percent, to 63 rand, ArcelorMittal added 2.37 rand, or 2.27 percent, to 106.99 rand and Kumba Iron Ore firmed 9.49 rand, or 4.13 percent, to 239.49 rand.

AngloGold Ashanti put on 89 cents to 312.90 rand and Gold Fields collected 88 cents to 106.90 rand, but Harmony weakened 78 cents to 81.41 rand.

Platinum miner Anglo Platinum firmed 2.97 rand to 677.97 rand, Impala Platinum rose 2.40 rand, or 1.41 percent, to 173 rand and Lonmin added 8.01 rand, or 4.11 percent, to 202.75 rand.

In diversified miners, African Rainbow moved three rand, or 1.94 percent, higher to 158 rand and Exxaro put on 1.27 rand, or 1.47 percent, to 87.67 rand.

Elsewhere on the JSE, SABMiller strengthened 1.42 rand to 206.90 rand, Barloworld was up 1.02 rand, or 2.06 percent, to 50.62 rand, Remgro put on 2.87 rand, or 3.30 percent, to 89.86 rand and Imperial added 1.80 rand, or 2.32 percent, to 79.37 rand.

Banker Standard Bank was up 3.29 rand, or 3.55 percent, to 95.90 rand, Nedbank (NED) rose 2.70 rand, or 2.39 percent, to 115.70 rand, Absa gained 2.49 rand, or 2.07 percent, to 122.50 rand and FirstRand collected 83 cents, or 5.08 percent, to 17.18 rand.

Financial services group Old Mutual put on 24 cents, or 1.81 percent, to 13.50 rand and Sanlam collected 56 cents, or 2.69 percent, to 21.37 rand.

Sugar group Tongaat Hulett advanced 5.55 rand, or 5.64 percent, to 103.95 rand.

Media group Naspers declined 4.25 rand, or 1.48 percent, to 282.50 rand.

Retailer Truworths was up 88 cents, or 2.12 percent, to 42.40 rand, JD Group added 1.95 rand, or 4.94 percent, to 41.45 rand and Clicks put on 80 cents, or 3.25 percent, to 25.40 rand.

Lewis rose 1.50 rand, or 3.02 percent, to 51.25 rand. It earlier reported a 3.9 percent fall in headline earnings to 290.5 cents for the six months to end September 2009.

Net profit attributable to ordinary shareholders dipped 3.3 percent to 261.3 million rand and the company declared an interim dividend of 144c a share.

The company said the improving trend in revenue growth experienced in the latter stages of the 2009 financial year had continued, with revenue for the six-month period increasing by 7.9 percent to R1.9-billion and merchandise sales growing by 6.8 percent to R951-million.

Operating profit increased by 4.3 percent to R424.2-million.

Liberty International was up 68 cents, or 1.22 percent, to 56.38 rand.

Cement manufacturer Pretoria Portland Cement strengthened 86 cents, or 2.74 percent, to 32.20 rand.

Among telecommunications groups, MTN Group fell 2.25 rand, or 1.94 percent, to 113.75 rand, but Telkom collected 60 cents, or 1.45 percent, to 42.10 rand.

Vodacom weakened 36 cents to 52.02 rand. It earlier announced that announced headline earnings per share declined 12.4 percent to 219 cents for the six months to end September 2009, from 250 cents earlier.

Earnings per share dropped to four cents, from 248 cents previously.

Vodacom declared an interim dividend of 110 cents per share.

Revenue rose 9.9 percent to R28.7-billion, largely due to the inclusion of Gateway which contributed 5.3 percent to group revenue the 16.5 percent growth in mobile customers to 41.6 million and the 30.1 percent increase in mobile data revenue to R2.031-billion.

Revenue from the South African operations of R24.37-billion was 6.8 percent higher, contributing 85 percent to group revenue.

Investment holdings company with interests in the construction and infrastructure sectors Raubex collected 70 cents, or 2.92 percent, to 24.70 rand. It earlier reported a 10 percent increase in first half diluted headline earnings per share to 157.4 cents from 142.9 cents in the comparative period a year ago.

The company said profit climbed 10 percent to R295.3-million in the six months to end August 2009 from R268.2-million last year.

An interim dividend of 35 cents a share has been declared.

Revenue increased 1.8 percent to R2.3-billion and operating profit increased 10.6 percent to R440.2-million from the corresponding prior period.

Earnings per share increased 10.4 percent to 161.3 cents.

Group operating margin increased 9 percent from 17.8 percent to 19.4 percent compared to the corresponding prior year period.

Cadiz Holdings weakened 10 cents, or 3.33 percent, to 2.90 rand. Cadiz earlier reported a 102 percent rise in diluted headline earnings per share to 17.2 cents for the six months ended September from 8.5 cents a year ago.

The group's operating profit was up 95 percent to R48.5-million.

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