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The JSE. Photo: Simphiwe Mbokazi.

The JSE maintained a positive tone in midday trade on Wednesday, tracking global markets.

At 12:01 local time, the JSE all-share index was up 0.76% to 34,232.35 points, with the resource counters rallying 1.46%, while gold index added 0.89% and platinum shares rose 0.21%.

Industrials lifted 0.41%, financials climbed 0.37%, and banks were flat (-0.04%).

The rand was trading at 7.54 to the US dollar, from 7.56 at the JSE's close on Tuesday. Gold was quoted at US$1,744.32 a troy ounce from US$1,723.82/oz at the JSE's previous close, while platinum was at US$1,646/oz, from US$1,621.02/oz before.

“The market is reasonably positive on hopes that the Greek policy makers are getting closer to agreement on fresh austerity measures,” said Martin Strauss, equity dealer at PSG Konsult.

European stocks were cautiously higher on Wednesday as investors hoped that Greek lawmakers were close to a deal on the restructuring of Greece's debt, following reports that the European Central Bank is ready to make key concessions over its holdings of Greek bonds.

At noon local time, the FTSE 100 index was 0.30% higher at 5,908.18 points.

Asian stock markets climbed, helped by signs of progress over debt restructuring talks in Greece, while the Tokyo market tapped a three-month high with Toyota Motor surging after upgrading is fiscal year outlook.

Japan's Nikkei Stock Average tacked on 1.1%, topping the 9,000 mark for the first time since October 31. Australia's S&P/ASX 200 added 0.4% while South Korea's Kospi Composite rose 1.1%. China's Shanghai Composite Index added 2.4% and Hong Kong's Hang Seng Index rose 1.54%.

On the JSE, Anglo American (AGL) rallied R8.45 or 2.49% to R348, Sasol (SOL) edged up R1.17 to R400.02, BHP Billiton (BIL) added R4.71 or 1.82% to R263.71. The global resources giant earlier reported basic earnings per share of 186.8 cents for the six months ended December 2011, from 189.2 cents a year ago. Excluding exceptional items, Earnings per share were down 2.9%. Revenue was 9.7% higher at US$37.48 billion, while profit from operations was 8.1% higher at $15.69 billion. A dividend of 55 cents was declared, up 19.6% from 46 cents a year ago.

In gold stocks, AngloGold Ashanti (ANG) gained R3.37 to R345.37, Gold Fields (GFI) picked up R1.52 or 1.21% to R126.92 and RandGold (RNG) gained 8 cents or 2.96% to R2.78.

Impala Platinum (IMP) inched up 51 cents to R168.50, Aquarius Platinum (AQP) added 49 cents or 2.42% to R20.75.

Among other miners, Exxaro Resources (EXX) gained 47 cents to R206.79, Kumba Iron Ore (KIO) added R8.28 or 1.52% to R552.28.

In industrials, SAB (SAB) was up R1.44 to R299.40, while Bidvest (BVT) lifted 78 cents to R172.78.

Sappi (SAP) shed 83 cents or 3.09% to R25.73. The paper and pulp giant posted a profit of US$45 million for the first quarter ending December compared to a $37 million profit for the previous comparable quarter.

The group's operating profit for the quarter on a year-on-year comparative basis however declined from $137 million to $100 million, but it must be noted that the previous comparable quarter benefited from an extra week.

Basic earnings per share were 9 US cents versus 7 US cents previously.

Pick n Pay (PIK) gave up 41 cents to R45.43. The retailer announced earlier that its CEO Nick Badminton would resign from its board effective the end of the financial year.

During the global search for a new CEO, Pick n Pay chairman Gareth Ackerman will move to executive chairman responsible for company strategy.

Deputy CEO Richard van Rensburg will assume day-to-day operational responsibility. Rival Shoprite (SHP) was up R1.52 or 1.17% to R131.57. - I-Net Bridge