S. African stocks close weaker for two consecutive days

The Johannesburg Stock Exchange (JSE) retreated for the second consecutive days on Thursday following global markets.

The JSE drop came as global economic growth concerns weighed on equity markets around the world.

The all-share index dropped 0.8 percent to 51,139.66 points at close of session, with the top 40 losing 0.93 percent.

The South African rand was trading at R13.89 to the U.S. dollar, R16.88 to the British pound and R15.17 to the euro at 5:00 p.m. (CAT).

Gold had edged up 0.13 percent to 1267.8 dollars an ounce.

Financials are lower, following the medium-term budget policy statement, which analysts largely welcomed, even as doubt lingers over whether it goes far enough.

Industrial stocks were notably lower, as the sector reflected a variety of economic activities, such as retailing.

Petrochemical company Sasol's share price was off 0.88 percent to R384.2, while BHP Billiton dropped 1.93 percent to R206.79. AngloGold shed 1.99 percent to R186.46 and Sibanye retreated 7.11 percent to R38.79.

Luxury goods maker Richemont was off 1.7 percent to R90.56

Standard Bank dropped 0.81 percent to R140.60 and Barclays Africa lost 0.74 percent to R153.65. Endit