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S. African stocks lower Wednesday

Xinhua, February 16, 2017 Adjust font size:

The Johannesburg stock Exchange (JSE) was slightly lower on Wednesday after being in negative territory from the previous day, pulled down by a strong rand in an uncertain global environment.

The South African rand extended its gains against the U.S. dollar, resetting an 18-month best level of R13.07 on Tuesday to R12.98. It was trading at R13.04 against the U.S. dollar at 5:00 p.m. (CAT).

The all share index was 0.04 percent lower at 52,485.16 points and the blue-chip Top 40 shedding 0.06 percent.

Local indices were mixed with mining and precious metals down. Gold miners led the losses at 1.15 percent. Banks rose 0.52 percent along with the U.S. Federal Reserve chair Janet Yellen's hawkish comments about U.S. rate hikes.

Financials were marginally firmer by 0.28 percent while industrials gained 0.18 percent.

Rand-hedge stocks were down. British American Tobacco lost 1.26 percent to R803.76, while Richemont shed 0.26 percent to R99.11.

AngloGold Ashanti shed 1.9 percent to R179.98 and Sibanye lost 1.41 percent to R2,930.

Nedbank led the gains amongst the banks, up 2.57 percent to R249.

Naspers gained 0.47 percent to R2,119. Endit