The rates were clipped after the steady fall in the Reserve Bank's repurchase rate to 20.206 per cent from 21.855 per cent on 13 October.
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THE SOUTH AFRICAN bourse hitched a ride on positive sentiment after three of the four big banks trimmed their prime lending rates by one percentage point. Nedcor broke the news of a cut to 23.5 per cent shortly before the market opened and the Financial index never looked back. Financials gained 271.7 points or 2.84 per cent to 9,843.4.