South Africa: Stock Markets Rally As Gold Rises to Three-Month High

Johannesburg — STOCK markets rallied yesterday, ending a week of steep losses, as Barclays moved to reassure investors that it was financially sound, leading to a surge in banks' share prices.

The JSE gold index ramped up 12% at its best as the price of gold rose to its highest in three months. A rise in copper and nickel prices on Friday also helped propel mining companies higher. After hitting R10,47/$ on Friday, the rand recovered to R10,12.

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