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S. African stocks close higher on Tuesday

Xinhua, September 14, 2016 Adjust font size:

Financial shares were the star performers on the Johannesburg Stock Exchange (JSE) on Tuesday, as investors were cheered by news that a rise of interest rates in the United States is unlikely next week.

The all share rebounded 0.01 percent to 52,805.96 points at close of session, after dropping as much as 2 percent a day earlier. The blue chip top 40 was off 0.04 percent at 46,274.97 points.

Financial stocks led the rebound on the local share market. The financial share gained 0.63 percent, while gold had lost 0.23 percent to 1324.92 U.S. dollars an ounce.

The South African rand was trading at R14.43 to the U.S. dollar, R18.99 to the British pound, and R16.22 to the euro at the close.

Among some individual shares, Standard Bank rebounded 3.54 percent to 141.09, with FirstRand regaining 3.12 percent to R47.54. Sanlam recovered 1.44 percent to R63.40 and MMI Holdings gained 1.01 percent to R24.00. Endit