S. African stocks close higher

SA stocks
SA stocks

The Johannesburg Stock Exchange (JSE) closed higher on Friday.

Platinum stocks were higher, despite a flat metal price and marginally weaker rand.

The local unit reached a three-week high against the dollar on Friday afternoon, helping to calm inflation concerns.

The rand was at R12.28 to the dollar after firming to R12.30 in overnight trade.

The all share was up 0.72 percent at 58,422.86points and the top 40 added 0.63 percent. Property dropped 0.54 percent, industrials 0.46 percent, banks gained 1.09 percent and food and drug retailers 1.33 percent.

Resources gained 1.11 percent and the platinum index 2.18 percent.

BHP rose 2.35 percent to R283.5 and Anglo American 1.88 percent to R304.

Naspers was 0.44 percent higher at R3,199.12. The company is still vulnerable as Chinese internet company Tencent remains the main driver of share price sentiment. Enditem

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