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S. African Stocks Close in Red on Tuesday-Sep 5
 

The Johannesburg Stock Exchange (JSE) closed in red on Tuesday, as the country exited the technical recession with a gross domestic product (GDP) growth of 2.5 percent in the second quarter.

The all share was off 0.3 percent to 56,144.8 points at close. The gold price climbed 0.25 percent to 1,336.75 U.S. dollars per fine ounce, the highest level for the year to date. Platinum gained 0.05 percent to trade at 1,005.86 dollars an ounce.

The resources index was 0.33 percent softer, with BHP trading up 0.06 percent to R249.4. Anglo American was 0.12 percent lower to R238.57, and Glencore dropped 1.36 percent to R60.85.

The South Africa's rand firmed at R12.95 to the dollar, dampening enthusiasm for dual-listed and resources shares which earn most of their income abroad.

Sibanye was the biggest loser among the top gold shares, dropping 3.18 percent to R20.4. AngloGold Ashanti shed 2.67 percent to R133.9.

Pressure continued to build for some food stocks, with Rhodes Foods shedding a hefty 10 percent to R21 following a trading update indicating it expects headline earnings in the year to September to decline by up to 27 percent.

Most of the major banks traded lower, with Standard Bank losing 0.24 percent to R165.6 and FirstRand trading 0.59 percent lower at R55.28. Barclays Africa added 1.24 percent to R150.

Naspers lost 0.58 percent to R2,829. Richemont was 0.53 percent up at R115.96, but British American Tobacco was off 0.77 percent to R802.77.


(www.chinaview.cn 2017-09-06)
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