The Johannesburg Securities Exchange (JSE) ended the week on a negative note with fears of interest rate increases prompting massive selling of local economy- centered stocks.

The all share index shed 0.95 percent at 20,499.83. Industrials and financials tumbled 2.38 percent and 3.08 percent respectively, while the banks index plunged 4.34 percent.

Resources rose 1.27 percent, the gold mining index gained 1.55 percent and the platinum mining index perked up 0.83 percent.

The rand was bid at 7.37 per U.S. dollar from 7.31 when the JSE closed on Thursday, while gold was quoted at 578.25 dollars a troy ounce from 585.75 dollars at the JSE's last close.

On the all share index, 118 shares were down, 16 were unchanged and 26 were up. There were 30 decliners on the Top 40 index compared with 11 advancers.

Despite Friday's losses, the all share index was up 4.1 percent for the week. It is down 0.3 percent for June but remains 13.3 percent in the black for the year.

Source: Xinhua