SA stocks
SA stocks

The Johannesburg Stock Exchange (JSE) closed firmer on Thursday, buoyed by Naspers which kept the local bourse in positive territory as retailers and miners retreated, while banks and financials gained on a firmer rand.

The South Africa’s rand firmed to R12.4392 to the dollar from R12.561, before losing ground again in choppy trade.

The all share closed 0.16 percent higher at 58,005.62 and the top 40 gained 0.42 percent. Banks rose 1.05 percent, financials 0.4 percent, and industrials 0.3 percent.

The platinum index fell 3.6 percent, gold 2.82 percent, general retailers 2.59 percent, and food and drug retailers 2.12 percent.

Naspers gained 3.54 percent to R3,185.08, buoyed by a stronger performance by Chinese internet company Tencent, of which Naspers owns 31.2 percent.

Mining production dropped by an annual 8.4 percent in March, after increasing by 2 percent in February. This was well below consensus expectations of a 3.8 percent drop. Most miners ended the day in negative territory on the firmer rand.

Platinum and gold prices were higher, but stocks in the sectors fell on the local currency’s gains. Platinum was up 0.7 percent to 920 U.S. dollar an ounce at the JSE’s close, while gold had gained 0.44 percent to 1,318 U.S dollar.

Beer giant Anheuser-Busch InBev lost 4.82 percent to R1,173.78 and British American Tobacco 2.07 percent to R648.05.

Impala Platinum slumped 6.07 percent to R18.25. Nedbank jumped 2.27 percent to R307. Enditem

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