S. Africa's JSE closes weaker amid profit taking

Source: Xinhua| 2018-02-20 00:14:26|Editor: huaxia
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JOHANNESBURG, Feb. 19 (Xinhua) -- The Johannesburg stock Exchange (JSE) closed weaker on Monday amid profit taking.

The all share was down 0.71 percent to 58,701.37 points. Industrials lost 1.24 percent, gold miners 0.87 percent and food and drug retailers 0.5 percent. Platinums added 1.61 percent.

At the same time, gold traded at 1,346.89 U.S. dollars an ounce, while platinum had gained 0.22 percent to 1,009.51 dollars an ounce.

Diversified miner BHP was down 1.07 percent to R256.25, ahead of the release of its interim results to end-December on Tuesday.

Kumba Iron Ore lost 2.22 percent to R324.78 and Exxaro 2.01 percent to R146.99.

South Africa's rand dropped on Monday as the market waits for new developments following Cyril Ramaphosa's appointment as president.

The local unit traded at R11.68 to the dollar from R11.59, at R14.46 to the euro from R14.38, and at R16.32 to the pound from R16.26.

The swear-in of Ramaphosa as the new president of South Africa, replacing scandal-ridden Jacob Zuma, had given the market optimism of a rebound in the economy.

African Rainbow Minerals slipped 2.97 percent to R127.40, AngloGold Ashanti 2.65 percent to R120.91 and Gold Fields 2.34 percent to R47.65.

But Anglo American Platinum gained 2.69 percent to R353.53, after declaring a dividend for the first time in six years. Impala Platinum gained 2.89 percent to R33.44.

Diversified industrial group Bidvest was up 1.55 percent to R253.22 while Barloworld lost 1.69 percent to R181.4.

Spar fell 3.16 percent to R210.92 and Shoprite 2.57 percent to R247.09.

Telkom advanced 3.03 percent to R51 while EOH lost 3.88 percent to R62.45. Naspers tumbled 2.52 percent to R3,327. Enditem

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