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South Africa stocks close higher on 3rd consecutive day

Xinhua, May 19, 2016 Adjust font size:

The Johannesburg Stock Exchange closed higher on Wednesday buoyed by financial and industrial shares offsetting losses in gold mining and resource shares.

The all share index was up 0. 51 percent to 52,797.23 points, while the blue- chip top 40 index gained 0.52 percent. The Industrial index was up 0.60 percent, and the Resources index lost 0.69 percent.

Financial stocks, which have been depressed since December, recovered 1.29 percent.

The rand was trading at R15.73 to the US dollar, R22.97 to the British pound and R17.75 to the euro at 5 pm.

The resources sector paused after a three-day rally, which boosted companies such as Anglo American.

Anglo American was off 3.18 percent to R139.08 and Glencore lost 1.94 percent to R29.77.

On the top ten gainers list on Wednesday was Adcorp Holdings, whose shares were up 19.48 percent to sell at R16.50 after 134,980 shares were exchanged in 99 deals on Wednesday. Also on the list was Wescoal Holdings, whose shares climbed to R1.73 after 91 deals traded 1,331,549 shares, a boost in the share price of 10.90 percent.

York Timber Holdings was amongst the biggest movers downwards, as shares slid 6.90 percent to R2.70 after investors bought and sold 1,629,501 shares in 63 deals. After 12 deals exchanged a total of 103,175 shares, Argent Industrial fell 4.12 percent to R4.1. Enditem