Stocks hung on to earlier gains at noon on Monday supported by firmer overseas markets, but the stronger rand and faltering gold prices restricted gains, traders said.

By midday on Monday the JSE's broader all share index was 0.77 percent in the black. Resources were up 1.21 percent, the platinum mining index advanced 0.34 percent, but the gold mining index fell 0.70 percent. Industrials improved 0.55 percent, banks firmed one percent but financials eased 0.13 percent.

The rand was bid at 7.78 to the dollar from 7.76 when the JSE closed on Friday, while gold was quoted at $917.17 a troy ounce from $912.42 at the JSE's last close.

"There's not much on the local front, we are following overseas markets and in London the guys seems to have welcomed plans by the Bank of England to swap banks' mortgages for government bonds," one trader said.

Traders said attributed the losses among gold miners on the easing bullion price and the strengthening rand.

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