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S. African stocks edge up as resources gain

Xinhua, December 1, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) edged up 0.1 percent to 50,209.43 points at close of session on Wednesday, while the blue-chip top 40 was 0.2-percent up.

The rand was weaker against the major currencies, trading at R14.01 to the U.S. dollar, R17.43 to the British pound and R14.86 to the euro at 5:00 p.m. (CAT).

Gold had slipped 0.75 percent to 1178.03 U.S. dollars an ounce, silver was down 0.15 percent to 16.58 dollars an ounce, and platinum had lost 0.34 percent to 912.93 dollars an ounce.

Oil prices are up on optimism that representatives of OPEC member nations will agree at talks in Vienna to limit oil output to halt the slide in oil prices that weakens their currencies.

For the most part, diversified miners struggled against the tide as traders cashed in on recent gains and the price momentum of copper and iron ore slowed.

Banks were narrowly mixed but were on course to close out November on a strong note despite the volatility that followed Donald Trump's election victory. The broader financial sector was higher while retailers lost ground marginally. Endit