South African stocks close weaker as industrials fall

Source: Xinhua| 2017-06-01 00:12:42|Editor: huaxia
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JOHANNESBURG, May 31 (Xinhua) -- The big dual-listed commodity giants on the Johannesburg Stock Exchange (JSE) pulled down the market lower on Wednesday.

Glencore, one of the five biggest companies on the JSE, traded 3.32 percent lower at R48. BHP and Anglo American were also lower.

The resources index lost 0.85 percent, despite the fact that the South African rand weakened to R13.17 to the U.S. dollar.

The all-share index 1.1 percent lower at close of session to 53,562.57 points while the top 40 index shed 1.14 percent to 47,153.91 points. The industrial index dropped 0.7 percent, and financial shares lost 0.8 percent.

Anglo American was 1.47 percent softer at R175.98, while Kumba Iron Ore was down 3.13percent to R157.05, with Assore dropping 4.05 percent to R191.9 following subdued iron ore prices.

Internet and media group Naspers, gave up 3.02 percent to R2,715.56. Telkom was off 2.9 percent to R73.75.

Standard Bank fell 3.63 percent to R146.54, with Barclays down 4.76 percent at R139.

Lonmin was 5.63 percent softer at R12.76.

Among the retail shares, Spar dropped 2.76 percent to R170.92, while Choppies closed 0.14 percent up at R34. Enditem

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