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S. African stocks gain on Thursday as gold shares jump

Xinhua, January 13, 2017 Adjust font size:

The Johannesburg Stock Exchange (JSE) edged up at close of session on Thursday as gold shares jumped.

Platinum shares were also stronger and resources gained on sentiment and stronger commodity prices.

Gold had strengthened 1.21 percent to sell at 1205.1 U.S. dollars an ounce, with 0.34 percent losses in industrials weighing on the local bourse. Gold miners however gained 3.14 percent.

The rand was trading at R13.43 to the U.S. dollar, R16.48 to the British pound and R14.35 to the euro at 5 p.m. (CAT).

The stronger rand boosted banking and financial shares, but had a limited effect on retailers, despite an upbeat trading update from Woolworths.

The all share was up 0.1 percent to 52,444.36 and the blue-chip top 40 added 0.06 percent to 45,720.2. The gold index rose 3.34 percent and platinums added 2.23 percent. Resources were up by 0.87 percent.

Global luxury goods company Richemont rose 6.02 percent to R102.89.

Anglo American Platinum surged 4.55 percent to R310.73.

Among gold stocks Harmony rose 3.85 percent to R33.7. Sibanye was up 2.31 percent to R27.48. Barclays Africa rose 0.79 percent to R170.14.

Naspers dropped 3.81 percent to R21,45.75. Endit