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S. African stocks close firmer ahead of monetary policy statement

Xinhua, October 26, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) closed firmer on Tuesday ahead of Finance Minister Pravin Gordhan's expected subdued medium-term budget policy statement.

Commodity prices were higher with gold rising 0.6 percent to 1,271 U.S. dollars an ounce, while platinum lifted 3.1 percent to 962.11 dollars an ounce.

The all share index was 0.13 percent higher at 51,749.86 and the blue-chip top 40 added 0.15 percent. Platinums lifted 3.46 percent and resources rose 1.03 percent. Industrials added 0.07 percent. Banks were down 0.27 percent. The gold index was up 0.15 percent.

"An appraisal of the performance of the JSE all share in recent months clearly illustrated the range-bound trading nature, reflecting the battle between the bulls and bears on the domestic market," Momentum SP Reid analysts said in an early morning note.

Anglo American was 2.27 percent higher at R186.09. The group said it experienced quarterly operational improvements, including a 4-percent production increase in copper.

Anglo American Platinum was up 4.87 percent to R338.21 on a reported 1-percent rise in overall production levels.

Among banks Standard Bank slid 0.18 percent to R140.6.

Gold Fields edged up 0.24 percent to R57.95.

MTN was up 5.34 percent to R115.37 after a trading update released on Monday continues to be well received in the market. Endit