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JSE closes higher on second consecutive day

Xinhua, May 18, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) closed sharply higher for the second consecutive day on Tuesday, supported by mining companies' recorded gains.

Brent crude was up 0.51 percent to 49.30 dollars a barrel soon after the JSE's opening.

At the close of session the all share was up 0.22 percent higher at 52,528.84 while the blue chip top 40 was climbed 0.29. The Industrial Index was 15 percent, with resources up 1.75 percent and platinums adding 0.94 percent. Financial index was also down 0.01 percent and banks tumbled 0.99 percent. The gold index was 0.52 percent higher.

The spot gold price and the gold index shrugged off reports that billionaire investor George Soros planned to shift his portfolio away from equities into gold. The gold price was flat at 1,280.40 dollars at the close of the session.

Anglo American added another 4.74 percent to R143.65 after surging 10 percent.

Standard Bank was also lost 1.73 percent to R114.45 .Endit