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JSE weaker as investors digest allegations of currency fixing

Xinhua, February 18, 2017 Adjust font size:

The Johannesburg Stock Exchange (JSE) closed slightly weaker on Friday after hitting hard by the strength of rand this week.

The market spooked by banks after the allegations of currency manipulation by the Competition Commission, led to major indices tumbling down.

The all share shed 0.69 percent to 52,223.54 points, and the blue-chip top 40 lost 0.9 percent.

Banks extended their losses, shedding 1.26 percent, after the Treasury raised a flag and possible punishment of banks on the allegations currency fixing.

Financials were 0.77 percent down while gold miners gained 0.14 percent.

South Africa major four banks were recently fingered in the collusion scandal. Standard lost 1.33 percent at R146.35 and Sanlam lost 0.76 percent at R67.25. Endit