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South African stocks close lower as financials lead losses

Xinhua, January 28, 2017 Adjust font size:

Share prices on the Johannesburg Stock Exchange (JSE) closed lower on Friday.

The all share ended 0.81 percent lower with 1.79 percent losses in financial shares leading the downward trend.

The South Africa rand was trading at R13.47 to the U.S. dollar, R16.88 to the British pound and R14.41 to the euro.

Precious metals were weaker, with gold falling 0.28 to sell at 1,184.73 U.S. dollars an ounce, silver declining 0.14 percent to 16.73 U.S. dollars an ounce, and platinum giving up 0.65 percent to sell at 969.58 U.S. dollars an ounce.

Financial shares were the busiest on the JSE in terms of volume. The Banking index traded 3.19 percent lower.

Firstrand was amongst the biggest movers downwards, as shares slid 3.89 percent to R50.4. Impala Platinum Holdings fell 3.3 percent to R52.8 by 5:00 p.m. (CAT).

The dual-listed Old Mutual, which gained more than 7 percent over the past month, was also 0.03 percent softer at R35.88.

Among the big capitalization shares Naspers lost 1.39 percent to R2130 and Sasol traded 1.29 percent softer at R404. Richemont was however up 0.07 percent at R103.82. Endit