S. African stocks close firmer with financials under pressure

The Johannesburg Stock Exchange (JSE) closed firmer on Tuesday, but banks and financials shares traded lower on the uncertainty surrounding the position of Finance Minister Pravin Gordhan.

On Monday, South African President Jacob Zuma demanded that Gordhan return home from an investor roadshow to Britain and the United States.

"These roadshows are meticulously planned and form an integral part of the post-budget calendar," The Banking Association of South Africa said in a press statement after the finance minister was unceremoniously recalled.

The rand was trading at R12.87 to the U.S. dollar at 5 p.m. (CAT).

The all share was 1.13 percent up at 52,309.23 points and the blue-chip top 40 added 1.24 percent. Platinums rose 3.09 percent, resources gained 2.45 percent and the gold index was up by 1.07 percent. Banks were down 0.06 percent.

Among the big miners, Glencore rose 2.84 percent to R50.35, BHP Billiton added 2.88 percent to R198.21 and Anglo American rose 1.66 percent to R196.5.

Sasol rallied 5.89 percent to R382.21.

Among banking stocks, Barclays Africa dropped 1.8 percent to R150.68 and Standard Bank lost 0.82 percent to R155.27.

Among retailers, Woolworths shed 2.13 percent to R72.07 and Mr Price dropped 2.84 percent to R167.11. Endit