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South African stocks close weaker as investors wait for U.S. Fed statement

Xinhua, May 3, 2017 Adjust font size:

The Johannesburg Stock Exchange (JSE) closed weaker on Wednesday as investors wait for U.S. Fed policy statement.

The all share index dropped 0.61 percent to 53,586.63 points, the industrial index lost 1.19 percent, while the financial index closed 0.8 percent lower.

The Resources index lost 1.29 percent on lower commodity prices while the gold index gained 1.82 percent.

The rand weakened against the U.S. dollar on Wednesday as investors waited for the U.S. Fed policy statement for the interest rate outlook. The South Africa rand traded at R13.38 to the dollar, 0.34 percent weaker from Tuesday at close.

Among some stocks on the JSE, Glencore was off 3.99 percent to R49.11, with BHP Billiton losing 1.88 percent to R196.7 and Anglo American dropping 2.77 percent to R179.35.

Kumba Iron Ore was down 5.31 percent to R162.68, with Goldfields regained 1.39 percent to R43.7.

MTN dropped 2.51 percent to R123.62.

Among the top shares, Naspers and Richemont continued their record-breaking runs. Naspers gained 1.35 percent to R2,566.47 and Maker of luxury goods, Richemont lifted 1.17 percent to R113.09.

Anheuser-Busch InBev share lost 0.03 percent to R1507.87.

Shoprite's share dropped 0.11 percent to R210.78 by close of trading. Endit