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S. Africa stocks close higher on Tuesday

Xinhua, October 19, 2016 Adjust font size:

Banking stocks on the Johannesburg Stock Exchange (JSE) on Tuesday rallied along with retailers.

The all share index edged up 0.7 percent to 51,1126.79 points at the close of session.

Banking stocks gained 1.64 percent, showing signs of recovery from last week's 6 percent plunge, its biggest weekly loss since August.

The platinum price, which has dropped substantially recently, rebounded 1.34 percent to 9464.91 U.S. dollars per ounce, lifting companies such as Anglo American Platinum.

Retailers, which are sensitive to rand and interest rates, gained. Shoperite was up 5.43 percent to R192.61 and Woolworths picked up 2.32 percent to R77.95. Endit