S. African stocks close weaker Thursday

The Johannesburg Stock Exchange (JSE) closed weaker on Thursday in global risk-off trade after the U.S. Federal Reserve held interest rates unchanged.

Losses on the JSE were broad-based, led by gold shares, despite the gold price holding up above the 1,300 U.S. dollars per ounce level as the stronger rand acted as a drag on the sector. General retailers were also weaker.

The all share closed down 0.29 percent at 50,239.27 points and the blue-chip top 40 lost 0.28 percent. The gold index dropped 1.42 percent, general retailers 1.15 percent, banks 0.89 percent, financials 0.28 percent and industrial 0.42 percent.

Investors will be waiting for the release of U.S. nonfarm payroll data on Friday. A strong number could strengthen the case for a December rate hike.

Among individual shares on the JSE, Sasol shed 0.13 percent to R370.5. Brent crude rose marginally by 0.3 percent to 47.18 U.S. dollars a barrel in early morning trade.

Gold Fields retreated 3.33 percent to R57.12.Lonmin lifted 3.34 percent to R37.48.

Barclays Africa led the losers among banks, dropping 2.15 percent to R153.99. Endit