Stock Market

South African stocks end higher

The Johannesburg Stock Exchange (JSE) closed marginally higher on Thursday as rand tests new resistance of 11.90 to the U.S. dollar after breaking below the R12 to the dollar mark for the first time since mid-2015 the previous day.

The local unit on Thursday traded at R11.83 to the dollar from R11.85, at R14.81 to the euro from R14.70, and at R16.93 to the pound from R16.88.

The all share closed 0.1 percent lower at 61,684.77 points and the blue-chip top 40 was off 0.03 percent at 54558.2 points. Industrials were 0.46 percent lower.

In the Anglo stable, Kumba Iron Ore was up 1.17 percent at R375.07 and Platinum added 0.19 percent to R370.19.

Rand hedges British American Tobacco tumbled 2.57 percent to R829.74, Anheuser-Busch InBev 0.47 percent to R1,365.01.

Among the gainers, Banks climbed 2.1 percent, the gold index 0.99 percent and financials 0.97 percent.

Anglo American retreated 1.17 percent to R294.51 as the market digested the group’s production report for the quarter to end-December, released in the morning. Enditem

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