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The JSE weaker on Brexit

Xinhua, June 25, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) closed weaker on Friday as investors pondered the effect of Britain's exit from the EU.

On Friday, 4.78 percent losses in financial shares and other sectors weighed on the local bourse, offsetting 11.43 percent gains in gold mining shares.

A US dollar cost R14.90, a British pound cost R20.49, and a euro cost R16.55 at close of session.

The all share index was off 3.56 percent at 51,679.66 points, with the top-40 index having shed 3.97 percent in a broad-based sell-off that hit banking and financial stocks particularly hard. Property groups with interests in the UK were also punished.

Stocks also took a knock, but gold shares climbed 4.64 percent to $1314.08 as investors sought safe-haven assets.

Among global miners on the JSE, Anglo America slid 8.01 percent to R135.72, with Glencore plummeting almost 11.31 percent to R28.93.

Standard Bank shed 3.02 percent to R126.05, and First Rand dropped 4.03 percent to R44.34. Old Mutual was 7.51 percent lower. Capital & Counties plummeted 17.79 percent.

SABMiller fell 4.71 percent to R871.88, with Imperial Holdings tumbling 8.64 percent to R148.91.

Among gold stocks, Gold Fields jumped 9.92 percent to R255.49, with Harmony rallying 12.53 percent to R53.45 and Sibanye Gold soaring 13.26 percent to R49.45. Endit