* Top-40 index down 1.16 percent
* All-share 1.1 percent lower
(Updates with closing prices)
JOHANNESBURG Feb 24 South African stocks, led
by big resource companies, fell on Friday after a broad-based
commodity sell off but some gold and platinum producers bucked
the trend as precious spot prices hit multi-month highs.
The rand, classified as both an emerging market and
a commodity currency, was 0.50 percent softer at 1500 GMT at
Bonds were little moved with the yield on the benchmark
government bond due in 2026 up half a basis point to
On the bourse, the benchmark Top-40 index fell 1.16
percent to 44,580.51 while the wider All-share index
ended 1.1 percent lower at 51,609.86.
Coal producer Exxaro lead the decliners, falling 7.2
percent to 103.62 rand, Commodities trader and miner Glencore
lost almost 6 percent and Kumba Iron Ore shed
China's iron ore futures slid nearly 5 percent at one point,
coming off a rapid rally underpinned by expectations that strong
infrastructure spending would spur steel demand in the world's
Oil prices fell 1 percent on Friday after U.S. crude
inventories rose for a seventh week.
Copper clawed back some of the previous session's hefty
losses on Friday as supply disruptions in Chile and Indonesia
lent support, but stayed on track for a second straight weekly
drop as concerns over the demand outlook weighed.
But gold hit its highest in 3-1/2 months on Friday as
the dollar hit a one week low after the new U.S. finance chief
poured cold water on the "Trumpflation trade" that had boosted
the greenback this year. Platinum was near a five-month
Harmony Gold rose almost 2.2 percent and Anglo
American Platinum, the world's top producer of the
precious metal, closed 1.15 percent higher.
(Reporting by Ed Stoddard; Editing by Alison Williams)