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The JSE closes higher with positive gains in financial and industrial stocks

Xinhua, July 26, 2016 Adjust font size:

The Johannesburg Stock Exchange HE (JSE) closes up, taking its lead from positive sentiment on global markets and buoyed by financial and industrial stocks.

The all-share index was up 0.54 percent to 53, 292.52 points by close of session, the best level since June 23 when the UK voted to leave the EU, an outcome that shook global markets.

The blue-chip to 40 Index climbed 0.56 percent, while Resources lost 0.87 percent, financial index climbed 1.08 percent.

At the market close, gold was trading at USD1319.04 per an ounce. The rand was changing hands at R14.37 to the USD.

The all share lost an estimated R700bn in the immediate aftermath of the Brexit vote before subsequently recovering in line with other markets.

Diversified miners led the rally despite the relatively strong dollar that exerted pressure on commodity prices.

Anglo American tumbled 1.66 percent to R138.52 and BHP Billiton tumbled 1.17 percent to R172.47.

Standard bank was up 1.21 percent to R138.55, with Barclays Africa gaining 1.14 percent percent to R15.00.

Amongst today's gainers was PPC Limited which rose 6.58 percent to trade at R8.10 per share after 837 deals sold 4,761,141 shares. While Arcelormittal SALtd climbed up 4.81 percent to trade at R8.50.

Resource stocks were amongst the losers as Anglogold Ashanti Ltd lost 4.95 percent to trade down to R288.90 per share following 1,465,964 shares changing hands in 4774 deals.

Gold Fields Ltd slipped 4.75 percent to trade at R79.80. Endit