Around the world's markets: Johannesburg

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The Independent Online
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.

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.