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S. African stocks slip 0.39 pct on Thursday

Xinhua, September 9, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) slipped by 0.39 percent on Thursday, with weakness in financial and industrial shares offsetting a rebound in the resources sector.

The all share index dropped to 53,250.25 points at lunchtime, with the Top 40 dipping 0.40 percent

Financial stocks were mostly lower on account of the poorly received financial results from Sanlam, which reported a 7-percent drop in first-half normalized headline earnings.

Gold miners however gained 0.88 percent, and resource shares rose 0.19 percent despite the stronger rand.

Gold had retreated to sell at 1344.98 USD per ounce.

The rand was trading at R13.95 to the U.S. dollar, R18.55 to the British pound and R15.73 to the euro at close of session. Endit