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Naspers leads JSE higher

Johannesburg - South African stocks ended higher on Monday, snapping two straight sessions of losses.

It was led by Naspers - Africa's biggest media and e-commerce group - that rebounded from several days of steep falls.

Naspers added the most points to Johannesburg's benchmark index, jumping 5.6% to R1 220.

Naspers owns about a third of Tencent, China's biggest internet firm, that last week posted slower quarterly growth.

A week earlier, China's central bank ordered a halt to some mobile payment methods used by internet firms such as Tencent.

"A lot of the upside is coming from Naspers - up about 6% - and that's really carrying the market forward," said Deryck Janse van Rensburg, a trader at Nedbank Private Wealth.

The benchmark JSE Top-40 index added 0.82% to 42 227 and the broader All-share index gained by almost the same margin to 46 875.

Investec rallied 4.11% to R82.40 - its highest level in more than five years.

The investment bank and asset manager said late on Thursday full-year profit likely rose as much as 7%.

Hosken Consolidated Investments gained 4.11% to R147 rand after the investment firm said it would spin-off and separately list US energy firm Montauk on the Johannesburg bourse.

Advancers outnumbered decliners 184 to 115 with 52 issues unchanged, according to preliminary bourse data.

Trade was average with 170 million shares changing hands.

* Fin24 is part of Naspers.
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Rand - Dollar
18.94
-0.0%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.41
+0.1%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.13
-0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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