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South African stocks close lower as Zuma recalls finance minister from UK road show
                 Source: Xinhua | 2017-03-28 00:09:12 | Editor: huaxia

JOHANNESBURG, March 27 (Xinhua) -- The Johannesburg Stock Exchange(JSE) closed weaker after South African President Jacob Zuma recalled Finance Minister Pravin Gordan from a road show in Britain, saying the "trip was not authorized."

The South Africa rand was spooked by the news. The rand closed at R12.75 to the U.S. dollar from a previous close of R12.42.

The all share was 0.18 percent lower at 51,724.92 points and the blue-chip top 40 was flat.

Gold miners and platinum stocks gained 5.79 percent and 0.84 percent respectively. Banks shed 3.05 percent and financials lost 1.35 percent.

Diversified miners were all down, led by Glencore which shed 2.59 percent to R48.96.

Kumba iron Ore dropped 5.02 percent to R189.9 and rand hedge stocks were firmer with British American Tobacco up 3.61 percent to R839.

Harmony gained 6.51 percent to R31.42, Sibanye Gold was up 9.35 percent to R30.16 and Gold Fields 4.59 percent to R46.25.

Impala Platinum was 3.08 percent firmer at R43.5. Enditem

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South African stocks close lower as Zuma recalls finance minister from UK road show

Source: Xinhua 2017-03-28 00:09:12

JOHANNESBURG, March 27 (Xinhua) -- The Johannesburg Stock Exchange(JSE) closed weaker after South African President Jacob Zuma recalled Finance Minister Pravin Gordan from a road show in Britain, saying the "trip was not authorized."

The South Africa rand was spooked by the news. The rand closed at R12.75 to the U.S. dollar from a previous close of R12.42.

The all share was 0.18 percent lower at 51,724.92 points and the blue-chip top 40 was flat.

Gold miners and platinum stocks gained 5.79 percent and 0.84 percent respectively. Banks shed 3.05 percent and financials lost 1.35 percent.

Diversified miners were all down, led by Glencore which shed 2.59 percent to R48.96.

Kumba iron Ore dropped 5.02 percent to R189.9 and rand hedge stocks were firmer with British American Tobacco up 3.61 percent to R839.

Harmony gained 6.51 percent to R31.42, Sibanye Gold was up 9.35 percent to R30.16 and Gold Fields 4.59 percent to R46.25.

Impala Platinum was 3.08 percent firmer at R43.5. Enditem

[Editor: huaxia ]
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