JSE closes firmer Friday as industrial shares gain

The Johannesburg Stock Exchange (JSE) closed firmer on Friday as industrial and property stocks rebounded in thin-volume trade.

Banks and financials were higher from oversold levels on Thursday, but food and drug retailers remained under pressure.

The all share was 1.47 percent higher at 51,216 points and the benchmark top 40 had gained 1.77 percent. Industrials were up 2.07 percent.

The South African rand was trading at R13.65 to the U.S. dollar, R16.79 to the British pound and R14.41 to the euro at 5:00 p.m. (CAT).

The gold index had given up 0.26 percent to sell at 1176.39 dollars an ounce, which was its second consecutive rise from Thursday after the release of less hawkish minutes from the U.S. Federal Reserve.

The platinum price tumbled 0.06 percent to 963.63 dollars an ounce after a weak start in the morning, with gold marginally weaker at 1,178 dollars an ounce.

Among individual shares Glencore was up 1.8 percent to R49.12.

Global luxury goods firm Richemont rose 2.83 percent to R90.38 in what has been a generally good morning for rand hedges.

British American Tobacco gained 0.35 percent to R770.96.

Among gold stocks Sibanye was 0.48 percent higher to R27.01.

FirstRand added 1.1 percent to R53.23. Standard Bank rose 0.92 percent to R150.38. Among financials Old Mutual rose 1.07 percent to R34.91. Endit