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JSE closes firmer on Monday as banks, financial stocks rebound

Xinhua, April 24, 2017 Adjust font size:

Shares at the Johannesburg Stock Exchange (JSE) closed firmer on Monday but gold-mining stocks tumbled, while banks and financial stocks rebounded as a result of a stronger rand.

The South Africa rand rose to a three-week high against the U.S. dollar, trading at R12.99 to the U.S. dollar at the close of trading. The dollar dropped to 1.0935 to the euro over the weekend, as the French elections took center stage.

On the JSE, the "all share" index was 0.39 percent higher at 52?921.41 points and the top 40 added 1.51 percent. Gold miners lost 5.4 percent, platinum dropped 2.6 percent and resources lost 0.01 percent.

Banks rose 2.9 percent and general retailers were up 2.36 percent. Financials added 1.12 percent, and industrials firmed 1.77 percent.

BHP Billiton rose 0.79 percent to reach R203.4.

Iron-ore producers were mostly down. Kumba Iron Ore lost 4.44 percent to R176.54.

Gold Fields tumbled 6.53 percent to R47.46. AngloGold Ashanti shed 6.03 percent to R157.56.

Impala Platinum lost 3.55 percent to R44.27.

Among financials, Sanlam added 3.56 percent to R69.84 and Discovery 3.58 percent to R131.73.

Steinhoff International gained 5.3 percent to R67.39. Endit