JSE closes weaker on Friday

The Johannesburg Stock Exchange (JSE) closed weaker on Friday as investors digest the results of the local government election.

The JSE all share closed 0.37 percent lower to 52,348.36 points on Friday with losses across the board led by a 3.21 percent drop in gold mining stocks. Gold had fallen 1.69 percent to sell at 1,338.29 U.S. dollars an ounce.

The blue-chip top 40 index was down 0.38 percent, resources were also 0.28 percent lower, while gold miners lost 1.59 percent.

The rand was trading at R13.77 to the US dollar, R17.95 to the British pound and R15.24 to the euro at 5pm. Endit