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JSE closes weaker on Thursday

Xinhua, October 14, 2016 Adjust font size:

The Johannesburg Stock exchange (JSE) closed weaker on Thursday with the major indices losing more than 2 percent at close of session.

The All-share index was 2.04 percent lower at 50,494.51 points, while the Top 40 index traded 2.31 percent down at 44,005.78 points. The rand dropped back to R13.47 to the U.S. dollar. The Gold index was 4.07 percent higher.

Naspers, which represents almost 20 percent of the All-share, lost more than 3 percent.

The Resources index was 2.42 lower at close. Mining shares were 2.32.

MTN lost 3.52 percent to R109.5 and Steinhoff was 2.67 percent lower at R72.82.

Anglo American, which was trading at a 52-week high on Wednesday, lost 4.26 percent to R172.68. BHP Billiton shed more than 3.59 percent to R206.69 after American bank Citigroup cut its rating on BHP Billiton from "neutral" to "sell". Endit