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South African stocks close higher on strong financial shares

Xinhua, May 21, 2016 Adjust font size:

The Johannesburg Stock Exchange closed higher on Friday led by financial shares.

The all share index was up 0.51 percent to 52, 638.25 points at 5:00 pm local time, with the blue-chip top 40 index edging up 0.55 percent.

Banking stocks perked up, with Nedbank climbing 4.21 percent to R175.6 and Barclays Africa gaining 3.94 percent to R141.36.

Resource shares, which took a particularly heavy knock on Thursday, bounced back. Platinum miners were up 0.88 percent, with the resource index gaining 1.30 percent.

Among some individual shares on the JSE, Anglo American rebounded 3.98 percent to 137.39.

On the foreign exchange market, a U.S. dollar cost R15.70, a British pound cost R22.76 and a euro cost R17.61, at close of trade on Friday. Endit