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The JSE closes slightly higher, with some loses

Xinhua, July 15, 2016 Adjust font size:

Shares on the Johannesburg Stock Exchange (JSE) were choppy on Thursday, as the global sentiment is slightly subdued after a five consecutive session of rally of nearly 4 percent.

The shares opened weaker in the morning but rebounded at the close of session on Thursday, with all-share index edging up slightly 0.04 percent to 52837.03 points, supported by a handful gains in resource and gold mining stocks offset losses in industrial shares. The top 40 blue-chip closed weaker, 0.03 percent.

A US dollar cost R14.18, a British pound cost R18.88, and a euro cost R15.75 at 5:00 pm (CAT).

Afrifocus Securities portfolio manager Ferdi Heyneke told Xinhua, "Global markets have had a good recovery from initial Brexit shock. We will have to see if this momentum can hold."

In the UK, the Bank of England has held the UK's main interest rate at 0.5 percent despite speculation that it would cut rates. After the announcement, the British Sterling rose as high as $1.3480, but it later fell back to $1.3312.

Among individual shares on the JSE, Anglo American was up 3.07 percent R398.80, with Kumba Iron Ore gaining 5.95 percent to R133.50, and AngloGold picking up 0.01 percent to R299.04.

Standard bank was up 0.46 percent to R129.78 and Barclays Africa gained 1.00 percent to R145.10.

PPC was off 1.95 percent to R6.55 while Telkom dropped 2.39 percent to R64.42.

Among the losers, Pan African Resource tumbled 4.76 percent to R4.00.

Telkom SA slid 3.79 percent to R63.50. Endit