Around the World's Markets: Johannesburg

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The Independent Online
MARKETS IN Johannesburg made solid gains as brokers were encouraged by brighter news on the world economy and hopes of further cuts in interest rates.

The South African All Share index closed 1.141 per cent higher at 5,828.3, buoyed by strong European markets. Hopes of a rate cut were supported by encouraging data on the country's money supply and consumer credit. The central bank's variable repo rate has already been cut by one percentage point to 20.718 per cent.