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JSE closes lower across the board

Xinhua, August 20, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) stumbled on Friday and closed weaker.

The all share index was off 0.41 percent to 52,771.95 points , weighed down by some profit taking in the financial stocks, particularly banks following the strong rally in recent sessions. Losses were incurred across the board.

Financial and bank indices dropped 0.64 percent and 0.89 percent respectively.

The blue- chip top 40 index was down 0.41 percent at 45,877.01 points, while Industrial index fell 0.23 percent.

The South Africa rand was trading at R13.47 to the US dollar, R17.59 to the British pound and R15.27 to the euro at 5 pm.

Nedbank, which has rallied more than 10 percent this month, gave up 1.8 percent to R223.41 and Standard Bank gave back 1.93 percent to R150.04 after gaining 7 percent on Thursday following its interim results. Capitec was off 2.17 percent at R607.52.

Bucking the trend, petrochemical group Sasol was up 1.19 percent to R382.00 and Kumba Iron Ore gained 2.33 percent to R141.21. Endit