South African stocks close weaker, taking cue from global markets

The Johannesburg Stock Exchange (JSE) on Tuesday tumbled, taking a cue from the global markets.

The all share index was closed 0.29 percent to 52,892.92 at close of session, weighed down mainly by large-cap resource companies and industrial stocks.

The South Africa rand continued to lose ground against the dollar on Tuesday, ahead of interest-rate announcements this week.

The rand was trading at R14.38 to the U.S. dollar, R18.85 to the British pound and R15.83 to the euro at 5:00 p.m. local time.

Local market participants are keenly waiting for the interest-rate announcement by the Reserve Bank's monetary policy committee on Thursday, after a three-day meeting that began on Tuesday. An interest-rate hike is not expected, given a softer inflation rate and a sluggish economic growth.

Gold had risen 0.20 percent to sell at 1330.83 dollars an ounce.

Among individual shares, Anglo American dropped 2.15 percent to R153.99, with BHP Billiton giving up 2.76 percent to R179.28.

Glencore lost 3.82 percent to R33.99 and Kumba Iron Ore slipped 3.3 percent to R126.18.

AngloGold was up 1.99 percent to R305.00 and Sibanye Gold picked up 3.68 percent to R64.00.

Financial services group Old Mutual slipped 1.19 percent to R38.27.

Among the top gainers list was PPC Limited whose shares rose 7.46 percent to sell at R7.35 after 4,117,245 shares were exchanged in 1,168 deals. Endit