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JSE dips to three-week low Friday

Xinhua, June 11, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) dipped to a three-week low on Friday as global risk aversion gripped global markets.

The all share index shed 0.33 percent to 53,018.20 points in early afternoon trade, dragged down mainly by resource shares, which weakened due to lower commodity prices.

The resource and platinum indices gave up 1.84 percent and 3.21 percent respectively, but gold shares rose 1.29 percent as risk-averse investors put their money into gold because of its perceived safe-haven status.

At the close of session, the rand was trading stronger against the majors: 15.10 to the U.S. dollar, 21.60 to the British pound and 17.05 to the euro. Endit