South African stocks close lower as rand firms

Source: Xinhua| 2017-05-30 02:18:56|Editor: huaxia
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JOHANNESBURG, May 29 (Xinhua) -- Shares on the Johannesburg Stock Exchange (JSE) closed lower on Monday, weighed down by public holidays in the United Kingdom and the Unites States.

The South African rand closed firmer notwithstanding news that President Jacob Zuma survived yet another vote of no confidence, the second in six months.

Investors are keeping their ears on the ground as S&P Global Ratings is set to review SA's sovereign credit rating.

The all share index was off 0.1 percent to 53,944.22 points at close of session on Monday.

Among some stocks on the JSE, Anglo American was up 1.74 percent to R176.81, with Lonmin regaining 2.45 percent to R14.65.

The Top 40 index, which includes all the big dual-listed shares, was flat at 47,533.5 points. The industrial index traded 0.14 percent lower and the financial index dropped 0.62 percent of its value. The resources index was 0.7 percent higher despite the strong rand.

The four biggest banks were among the busiest shares on the JSE, but they all traded lower. FirstRand lost 0.84 percent to R50.67 and Barclays Africa dropped 0.43 percent to R147.03. Standard Bank gave up 0.89 percent of its value to trade at R151.99. Enditem

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