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JSE edges weaker as firmer South African rand pulls down mines

Xinhua,June 03, 2018 Adjust font size:

JOHANNESBURG, May 30 (Xinhua) -- The Johannesburg Stock Exchange (JSE) dropped for a third consecutive session on Wednesday, as South Africa's rand pulled down mines.

The food and drug retailers and banks gained on a firmer local currency that traded at R12.56 to the U.S. dollar from R12.69.

The South African rand has been relatively robust against the greenback. A stronger U.S. dollar usually negatively affects the entire emerging markets.

Gold gained 0.25 percent to 1,302.16 U.S. dollar an ounce and platinum 0.17 percent to 908.67 U.S. dollar an ounce.

At 5:00 p.m. (CAT), the all share fell 0.6 percent to 55,601.63 points and the top 40 0.68 percent. General retailers fell 1.13 percent, industrials 1 percent and gold miners 0.9 percent. Platinums firmed 1.01 percent and food and drug retailers 0.78 percent. Enditem