S. Africa's JSE closes higher as rand slides

JOHANNESBURG, Nov. 13 -- Share prices on the Johannesburg Stock Exchange (JSE) closed firmer, as the South African rand slide on Monday.

South African rand traded R14.49 to the dollar, its worst level in about a year. Market was on its toes ahead of Moody's and S&P Global Ratings review of the credit ratings of South Africa next week. The financial stock tumbled 0.06 percent and Bank index 0.37 percent.

The local currency could have been spooked by the political issues bedeviling the country. The ruling African National Congress will he holding its elective conference next month.

Reports are also rife that South African President Jacob Zuma will be announcing a free tertiary education plan.

The all share was up 0.08 percent to 59,821.49 points. The blue-chip top 40 index was 0.20 percent higher at 53,531.21 points. These indices were pushed higher by the industrial index, which includes most of the big dual-listed shares with the big market capitalization. The industrial index was 0.1 percent stronger at 89,929.06 points.

Among the stocks on the JSE, AngloGold Ashanti was up 2.84 percent to R143.5 and Gold Fields 1.56 percent to R57.88. Lonmin dropped 6.54 percent to R12.15, following announcement in the company's decision to delay its year-end results.

Among industrials British American Tobacco was up 1.23 percent to R942 and Naspers 0.93 percent to R3,573.91

The resources index recouped 0.38 percent because of the weaker rand. BHP was flat at R271.01 and Sibanye's share price was 0.29 percent lower at R20.28.

Vodacom lost 3.35 percent to R147.34 and Telkom 6.5 percent to R47.22.

Barclays Africa eased 1.03 percent to R141.88 and Nedbank 1.15 percent to R211.70.

Murray & Roberts was up 2.77 percent to R14.83 while PPC lost 4.93 percent to R6.37. Enditem