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JSE closes lower on Friday

Xinhua, December 31, 2016 Adjust font size:

The Johannesburg Stock Exchange (JSE) closed marginally lower on Friday. Platinums also picked up, and property was a little higher, while banks fared worst of the major indices.

Trade was exceptionally quiet this week with most market participants on leave until at least next week. Turnover on Friday amounted to just 5 billion rands (364 million U.S. dollars).

The JSE all share index ended the day 0.06 percent lower to 50,653.5 points.

Gold shares added 3.21 percent bringing their gains for the week to 12.31 percent. Platinums were up 1.03 percent on Friday.

Banks closed 0.71 percent lower, but ended the year up 26.97 percent, while property was up 0.6 percent and finished the year on a modest rise of 3.84 percent.

Resource stocks on the JSE were a little firmer as the U.S. dollar gave back further recent gains. The resource index is up 26.44 percent for the year, boosted predominantly by Anglo American's surge from about R50 in January to R195.1 at the end of 2016.

Diversified miner Glencore was 0.84 percent higher at R46.68, while Exxaro improved 1.76 percent to R89.5 and ArcelorMittal SA 2.31 percent to R11.5. Endit