South African stocks closes in the red, led by gold miners losses

The Johannesburg Stock Exchange (JSE) traded in negative on Monday and gold mining shares tumbled 1.05 percent.

Investors are still on their toes awaiting Fitch's ratings announcement this week after South Africa dodged downgrade from the S&P Global Ratings' on Friday.

The all share was 0.50 percent lower at 53,990.76 points and the blue-chip top 40 had fallen 0.54 percent at the close of trading session at 5:00 pm (CAT).

Platinum stocks led the gainers, up 0.64 percent amid a firmer platinum price, followed by gold miners, adding 0.24 percent, despite a softer metal price.

Banks were 0.35 percent up, followed by industrials, down 0.92 percent, as rand-hedge stocks lost steam due to a firmer local currency.

A U.S. dollar cost R14.90, a British pound cost R21.53 and a euro cost R16.94 at 5:00 pm(CAT).

The spot price of gold was 0.25 percent up at 1,246.97 dollars an ounce, after strong gains on Friday after the release of weak U.S. jobs data, reducing the likelihood of an imminent U.S. interest-rate increase.

Among individual shares on the JSE, Anglo American surged 8.32 percent to R147.95, while Sasol plummeted 10.82 percent to R 432.52 after warning on Monday that its full-year headline earnings per share (HEPS) would fall by between 10 percent and 30 percent due to lower oil prices.

The chemical group also issued a statement saying it was going ahead with its U.S. plant in Lake Charles, Louisiana, despite a rise to 11 billion dollars in its estimated cost.

Rand hedge SABMiller declined 2.90 percent to R 933.49 and British American Tobacco gave back 1.36 percent to R925.12.

AngloGold Ashanti lifted 0.59 percent to R237.54 and platinum player Lonmin gained 3.25 percent to R41.25.

Banking counter Standard Bank was down 0.42 percent to R 129.55, while Barclays Africa Group rose 0.42 percent to R 154.02.

U.S. Federal Reserve chairwoman Janet Yellen's speech on Monday is expected to provide market direction to global investors. Endit