JSE closes in red, weighted down by resource index

The Johannesburg Stock Exchange (JSE) stumbled on Wednesday, as crude oil price damped investor appetite for riskier assets.

At close of trading session, the resource index, which includes Anglo American and BHP Billiton had declined 2.77 percent amid weaker metal prices.

This left the all share 0.72 percent lower at 53518.36 points at the close of trading session, with the blue chip top 40 sliding 0.97 percent.

A U.S. dollar cost R15.59, a British pound cost R22.41, and an Euro cost R17.39 at close of session.

Much attention was focused on the proposed takeover of SABMiller by Anheuser-Busch InBev as deal was approved on Tuesday by the South African Competition Commission, with certain conditions.

AB InBev's share price was 0.64 percent higher at R2 006.97 and the share price has now increased 8.2 percent over the past 30 days. SABMiller, which reached R990 earlier in the week, lost 0.35 percent and traded at R975.80.

Among individual shares, Anglo American, which continues to be very volatile, rose 3.32 percent to R363.00, with BHP Billiton dropping 5.17 percent to R 179.99 and Glencore dropping 4.87 percent to R28.71.

Among industrial stocks, British American Tobacco fell 2.05 percent to R950 and Richemont dropped 1.09 percent to R91.90.

Gold stocks bucked the weaker trend, with Gold Fields gaining 2.58 percent to R56.03 and Harmony climbing 4.51 percent to R47.99. Enditem