S. Africa's JSE closes firmer following global markets

Source: Xinhua| 2017-11-17 00:45:59|Editor: huaxia
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JOHANNESBURG, Nov. 16 (Xinhua) -- The Johannesburg Stock Exchange (JSE) closed higher on Thursday, as it tracked the positive sentiment on global markets.

The market is upbeat as the Federal Reserve is expected not to hike repurchase rates in December.

Locally, the all share was up 0.62 percent to 59,549.22 points at the close of the session, as the blue-chip top 40-index was at that stage 0.71 percent higher at 53,378.66 points. The resources index however, dropped 0.06 percent, but the financial index was only 0.42 percent higher.

The industrial index gained 0.99 percent complemented by financial stocks.

Retailers were best performers, as the local unit extended its recovery against major global currencies. The South Africa's rand was at R14.22 to the dollar, from the R14.57 seen at the start of the week.

Steinhoff rose for the first time in seven sessions, gaining 2.65 percent. Naspers advanced 1.41 percent to settle at R3713. Naspers is by far the biggest share on the JSE, traded on Thursday at close at a new all-time high.

Telkom also received some support, after it lost ground following its interim results last week.

Technology group EOH stock tumbled 2.97 percent to settle at R88.98, its lowest since June 2014.

Mr Price added 1.48 percent to R193.78, while Woolworths dropped 3 percent to R53.43 following an earlier trading update, in which it said it expected sales for the 20 weeks to November 12 to rise 2.6 percent.

Shoprite was up 2.35 percent to R211.86 and Spar 5.35 percent to R178.26.

Transport and logistics provider Imperial added 2.36 percent to R203.70.

Private equity group Brait was off 5.05 percent to R45.29.

Sibanye-Stillwater lost 4.70 percent to R18.45 and Harmony 3.1 percent to R25.34.

Standard Bank rose 0.12 percent to R162.98 and FirstRand 0.67 percent to R52.92. Enditem