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South African stocks weaker Wednesday

Xinhua, January 5, 2017 Adjust font size:

The Johannesburg Stock Exchange (JSE) was weaker in quiet trade on Wednesday with only the platinum and gold indices in positive territory as precious metal prices rose.

The all share was off 0.51 percent at 50,760.24 points at close of trading, with losses led by a 1.37 percent drop in resource shares. Gold mining and financial shares gained.

A U.S. dollar cost R13.63, a British pound cost R16.71 and a euro cost R14.25 at 5:00 p.m. (CAT).

The platinum price had gained 0.1 percent to 977.84 U.S. dollars an ounce while gold was up 0.24 percent to 1,272.68 U.S. dollars an ounce. Silver rose 0.26 percent to 17.79 U.S. dollars an ounce.

The stronger rand failed to lift banking and retail shares. Property regained some of its earlier losses.

Naspers fell 0.84 percent to R2,017.66 and Sasol dropped 0.53 percent to R404.4.

Woolworths lost 1.17 percent to R70.63. Shoprite lost 2.05 percent to R169 and Steinhoff lost 1.5 percent to R70.2.

Shoprite gained 19.68 percent in 2016, but Steinhoff lost 9.2 percent.

In the property sector, Redefine was down 1.74 percent to R11.3. Endit