Off the wire
• Chinese businesses reach overseas consumers through Amazon  • China urges US to stop illegal anti-dumping  • Rosberg on form in second practice session for Spanish Grand Prix  • Luis Enrique and Zidane both focused on their sides ahead of last day title deciders  • Ferrari fastest in 1st Spanish GP practice session  • UN appoints Erik Solheim of Norway as environment head  • Zambian leader says comments on elections during Uganda visit misunderstood  • U.S. Navy commander fired over Iran's capture of 10 U.S.sailors  • Rayo squad deny match-fixing allegations  • Zambia's power deficit to reduce to 400 MW next month: president  
You are here: 　 Home

JSE ends higher after tops-turvy trade

Xinhua, May 14, 2016 Adjust font size:

Share prices on the Johannesburg Stock Exchange (JSE) closed higher on Friday after third consecutive day low despite an earlier temporary slump.

The gold mining shares led by 2.80 percent offsetting losses in financial stocks.

The gold price firmed 0.71 percent to 1,271.81 U.S. dollars an ounce at the close of trade.

Economic indicators released towards the end of the week painted a bleak picture of the country's economic prospects, negating earlier optimism when rating agency Moody's decided not to downgrade South Africa's credit rating.

Financial shares were the hardest hit over the past days by the sober economic picture, and the Financial index also lost all the gains made earlier in the week after Moody's announcement on South Africa's credit rating.

The rand was at R15.29 to dollar, R17.25 against the euro, R21.7838 against the pound.

The All-share index was closed 0.28 percent up, while the blue-chip Top 40 index climbed 0.47 percent.

The Industrial index was only 0.42 percent higher, while the Resources index gained a moderate 0.43 percent.

Amongst the top ten movers up was Torre Industries, whose shares gained 12.50 percent to sell at R2.70 after investors exchanged 201,959 shares in 48 deals.

Ranking in the top ten losers was Avi Limited (AVI), whose shares lost 5.65 percent after investors bought and sold 3,823,247 shares in 5,675 deals, sending the share price down to R86.00. Enditem.