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JSE closes higher for 5th straight sessions

Xinhua, July 5, 2016 Adjust font size:

Shares on the Johannesburg Stock Exchange (JSE) closed higher on Friday for the fifth consecutive session on Monday, thanks to higher metal prices that supported commodity-linked shares.

The all-share index was up 0.18 percent to 52,454.24 points at close of session on Friday bringing its gains since June 28 to almost 5 percent.

The blue-chip top 40 index climbed to 0.3 percent as the aftermath shock of Britain's historic vote to leave the EU, fears subsides.

Gold mining shares lifted 5.04 percent and resources climbed 1.59 percent helping to lift the JSE All Share 0.18 percent and offset 0.85 percent losses in financial shares.

The prices for commodity were mostly higher, as sentiments are higher that the US Fed is not expected to hike its interest rate rise this year, and that has weighed on the dollar.

The rand weakened against the three major currencies, and was trading at R14.55 to the U.S. dollar, R19.27 to the British pound and R16.18 to the euro at close of session. Endit