JSE closes weaker as the South Africa's rand firms

Source: Xinhua| 2018-07-11 00:30:07|Editor: huaxia
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JOHANNESBURG, July 10 (Xinhua) -- The Johannesburg Stock Exchange (JSE) closed slightly lower on Tuesday as the market sought direction amid concern about further political turmoil in Britain.

The South African rand was steady on Tuesday at the close of the session, but off intraday best levels as the dollar turned around against the euro.

The local currency firmed to R13.33 against the U.S. dollar, up from R13.41.

Property stocks rebounded in the early morning of trading, but Naspers pulled down banks and financials, following weak Tencent trading in Hong Kong.

Internet and gaming company Tencent, of which Naspers owns 31.2 percent, earlier announced that it would list its music business in the U.S.

Naspers shed 0.4 percent to R3,496.

Naspers accounts for 22.45 percentof the market capitalization-weighted top 40 index, so its movements tend to direct the JSE's average.

The all-share index was 0.33 percent lower at 58,027.11 points and the top 40 lost 0.38 percent.

The platinum index dropped 0.69 percent, industrials 0.34 percent, financials 0.74 percent, general retailers 1.76 percent and banks 1.2 percent.

The gold index added 0.16 percent, resources 0.15 percent.

Arcelor Mittal rose 6.98 percent to R2.3.

British American Tobacco dropped 0.55 percent to R697.93.

FirstRand shed 1.46 percent to R65.63 and Old Mutual 1.28 percent to R28.49.

Steinhoff rose 6.86 percent to R1.87.

Sirius Real Estate rose 3.74 percent to R11.65.

Netcare dropped 0.07 percent to R28.45. Enditem

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