By Stanley Karombo JOHANNESBURG, (Xinhua)
-- Shares on the Johannesburg Stock
Exchange (JSE) firmed on Wednesday, as opposition political
members took to the streets demanding the South African
president to step down.
The all share was up
0.03 percent to 53,551.31 points at close of trading. Banks and
Financial share rebound after last week’s sell-off. The top 40
index tumbled by 0.02 percent.
The South Africa
rand, which reached R13.63 to the U.S. dollar in intra-day trade
from close to R14 on Tuesday.
Banks stocks were
the hardest hit by the cabinet reshuffle. The international
rating agencies then downgraded the country’s credit rating last
week, leading to the local unit tumbling.
stocks, such as British American Tobacco, down 1.22 percent to
R918.99, Sasol was up 1.43 percent to R416.16.
regained 3.83 percent to R143.49, with FirstRand recouping 3.22
percent to R47.08 and Barclays Africa recovering 1.38 percent to
R144.97. MMI Holdings climbed 3.64 percent to R22.8.
Mr Price gained 3.65
percent to R153.4 and Massmart edged up 3.31 percent to R135.33.
Naspers rose 0.87
percent to R2,471.59.
JSE closes firmer on Tuesday
JOHANNESBURG, (Xinhua) --
The Johannesburg Stock Exchange (JSE) performed
beyond expectations on Tuesday, as banks and retailers regained
from a recent sharp sell-off.
The all share index
was up 0.74 percent to 53,535.16 points at close of trading. The
performance is its best since January, with the blue chip top 40
gaining 0.72 percent.
The Gold index was
again the star performer, and gained 1.39 percent on the back of
The South African
rand dropped by 0.56 percent against the U.S. dollar. The local
unit traded at R13.87 to dollar and R17.15 to the British Pound
at 5:00 p.m. (CAT).
shares, Salol was down 2.44 percent to R411, while Richemont
reached yet another 52-week high on Tuesday, gaining 1.69
percent to R110.75.
Naspers traded 0.09
percent softer at R2 445.022. Steinhoff was 1.03 higher at
dropped 0.96 percent to R209.96.
Among retailers, Mr
Price was up 1.78 percent to R148 and TFG recovered 3.46 percent
to R146.44. Massmart recouped 2.7 percent to R131.85.