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JSE closes higher, led by financial shares

Xinhua, August 5, 2016 Adjust font size:

Financial shares on the Johannesburg Stock Exchange (JSE) rallied on Thursday with gains in financial and resource shares offsetting losses in gold mining stocks.

The rand rallied to its best level to the dollar in about nine months, a positive move for the South African consumers who have been battling inflation and a possible interest rates hike.

The benchmark gauge was up 0.02 percent to 52,543.37 points at close of trading session.

The blue-chip JSE Top-40 index was down 0.06 percent at 45,533.22. The Financial index was up 0.55 percent.

The rand was trading at R13.76 to the US dollar, R18.04 to the British pound and R15.33 to the euro at 5 pm. Endit