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JSE slips as local currency firms

Xinhua, May 12, 2017 Adjust font size:

The Johannesburg Stock Exchange (JSE) tumbled on Friday weighted down by the strength of the South African rand.

The JSE was pulled down by the Richemont, one of the biggest shares on the bourse which dropped 5.09 percent on Friday following the release of its full-year results.

This weighed down on the industrial and overall indices. The Industrial index closed 0.45 percent down and led to the all-share index losing 0.09 percent to 54,063.34 points. The blue chip top 40 index was 0.12 lower at 47 430.43 points.

The South Africa's rand firmed to R13.38 against the U.S. dollar at the close of session, supporting rand-hedge stocks and gold miners.

Naspers gained 1.81 percent to R2,728.49. Telkom was up 3.85 percent to R81.4. MTN traded 0.2 percent up at R121.04 and Vodacom lost 0.19 percent to R151.89.

Gold Fields gained 3.09 percent to R47.01 while Anglo American Platinum shed 2.82 percent to R311.49.

Woolworths was off 1.63 percent to R69.49 while Aveng rose 10.49 percent to R5.69 and PPC gained 3.74 percent to R6.1. Endit