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S. African stocks close firmer on Wednesday

Xinhua, November 17, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) extended gains on Wednesday, powered primarily by rebound in industrials as the share market played catch-up with international peers.

The all-share index was up 1.16 percent to 50,000.82 points, ending a three-day losing streak.

Industrial shares rose 1.63 percent, leading gains across most sectors and helping the all-share end 1.16 percent higher. Gold miners, meanwhile, fell by 1.22 percent.

The rand had weakened against the major currencies, and was trading at R14.27 to the U.S. dollar, R17.71 to the British pound and R15.25 to the euro at 5:00 p.m. (CAT).

Retailers, under intense pressure recently, attracted demand, as did banks and resources.

On the top ten gainers list was DRD Gold, whose shares rose 8.3 percent to sell at R6. Mr Price Group shares climbed 5.89 percent to R141.89.

Finbond Group was among the biggest movers downwards, as shares slid 10 percent to R2.16. Endit