South African stocks close weaker Thursday

The Johannesburg Stock Exchange (JSE) closed weaker on Thursday.

The all-share index slipped 0.09 percent to 52,496.62 points, as the resource 20 index lost 0.66 percent. The resource shares were also reeling from a sharp drop in some commodity prices. But banks and retailers were supported, as the rand firmed to a three-week high to the U.S. dollar.

The local currency traded at R13.16 to the dollar at 5:00 p.m. (CAT), from lows of R13.9 last week, easing the stubborn inflation worries that have crept up since President Jacob Zuma fired Pravin Gordhan as finance minister just more than three weeks ago.

On the JSE, Glencore lost 2.37 percent to R49.52, with BHP Billiton dropping 0.36 percent to R203.77 and Anglo American added 0.19 percent to R191.82.

Assore slid 3.23percent to R220.63, with Gold Fields dropping 2.72 percent to R51.81 and Sibanye shedding 4.29 percent to R28.86. Harmony slipped 5.02 percent to R31.42.

Anglo American Platinum was down 4.59 percent to R353 and Impala Platinum lost 2.52 percent to R46.4.

Among the banks, FirstRand was up 1.15 percent to R48.28 and Standard bank rallied 0.51 percent to R142.73. Endit