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S. African stocks gain for second consecutive day

Xinhua, November 9, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) headed for solid back-to-back gains on Tuesday as it rode positive global market momentum ahead of the U.S. presidential poll.

Financial stocks led the charge in a broad-based rally that drove the all share index higher. The all share index was up 0.79 percent to 50,700.7 points at close of session.

The South African Rand was trading at R13.33 to the U.S. dollar, R16.46 to the British pound and R14.73 to the euro at 5.00 p.m. (CAT).

Commodity prices held onto gains despite a relatively strong U.S. dollar, with the price of platinum back above 1,000 dollars per ounce for the first time since early October, boosting platinum shares.

The copper price on Monday cracked the 5,000 dollars per tonne barrier for the first time since April, which may boost diversified miners, such as Anglo American. Endit