Stocks extend losses after Nene sacking

Pulse Staff 08:54 - 11 December 2015

People walk near the reception at the Johannesburg Stock Exchange (JSE) in Sandton, Johannesburg, South Africa December 10, 2015. REUTERS/Siphiwe Sibeko

Banks, which are most at risk if South Africa's credit rating is downgraded in the wake of the removal of Nhlanhla Nene, led the decliners, with Barclays Africa plummeting nearly 20 percent.

South Africa's main stock index slumped more than 2 percent on Friday as jittery investors continued to pull out of the market after Wednesday's shock dismissal of the finance minister.

Banks, which are most at risk if South Africa's credit rating is downgraded in the wake of the removal of Nhlanhla Nene, led the decliners, with Barclays Africa plummeting nearly 20 percent.