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South African stocks close higher, led by financials

Xinhua, May 26, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) took a cue from the global markets rally on Wednesday to perform its best level in four weeks on Wednesday.

The all-share index was up 1.27 percent to 53, 721.88 points at the close of trading session, with blue chip to 40 climbing 1.47 percent. Financial index was 2.19 percent up.

The picture in the resources market was somewhat mixed, with gold miners shedding 4.67 percent as the gold price extended losses into a sixth straight session, while gold slide 0.28 percent to sell at 1221.60 U.S. dollars an ounce.

The resurgent dollar has hit the gold price and other commodities amid talk of a looming interest-rate increase in the U.S..

The rand was trading stronger at R15.69 to the U.S. dollar, R23.05 to the British pound and R17.49 to the euro.

Gold Fields was amongst the biggest movers downwards, as shares tumbled 7.55 percent to R55.01 after investors bought and sold 4,627,990 shares in 5,212 deals.

After 62 deals exchanged a total of 1,271,982 shares, The Pivotal Fund (VKE) fell 5.71 percent to R16.50. Endit