Johannesburg - Stocks, led by big resource companies, declined 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 benchmark JSE Top40 index dropped 1.16 percent to 44580.51 points, while the wider all share index ended 1.1 percent lower at 51609.86 points.
Exxaro led the decliners, falling 7.18 percent to R103.62, commodities trader and miner Glencore dropped 5.94 percent to R51.90 and Kumba Iron Ore shed 5.69 percent to close at R206.54.
China’s iron ore futures slid nearly 5percent at one point, coming off a rapid rally underpinned by expectations that strong infrastructure spending would spur steel demand in the world’s top consumer.
Oil prices fell 1 percent on Friday after US crude inventories advanced for a seventh week.
Gold hit its highest in three-and-a-half months on Friday as the dollar touched a one-week low after the new US finance chief poured cold water on the “Trumpflation trade” that had boosted the greenback this year. Platinum was near a five-month peak.
Meanwhile, the rand was bid at R12.9582 to the dollar on Friday, 11.17c softer than same time on Thursday.