The FTSE/JSE Africa All Share Index fell 13.72, or less than 0.1 percent, to 31,855.02 by 12:26 p.m. in Johannesburg, a second day of declines.
The following are among the most active stocks in the South African market today.
ArcelorMittal South Africa Ltd. (ACL) , Africa’s largest steelmaker, slid to its lowest since March 2009, declining 4.70 rand, or 6.3 percent, to 69.50 rand. Third-quarter earnings are expected to be “substantially lower” than the previous three months, the group said in its interim report for the six months to June 30.
BHP Billiton Ltd. (BHP) , the world’s biggest mining group, rose the most in over a week on a closing basis, adding 2.75 rand, or 1.1 percent, to 258.80 rand. The group is refusing to negotiate with workers at its Escondida unit in Chile as a strike at the world’s biggest copper mine stretched into a fifth day, fueling concern that the stoppage may worsen a global supply shortage.
DRDGold Ltd. (DRD) , South Africa’s fourth-largest producer of the metal, gained the most in two weeks, rising 5 cents, or 1.6 percent, to 3.22 rand. Gold climbed to a record of $1,625.70 an ounce as investors sought to protect their wealth against the possibility of a U.S. default that may come as soon as next week.
Lonmin Plc (LON) , the world’s third-largest platinum producer, advanced the most in more than a month, adding 2.55 rand, or 1.8 percent, to 145.55 rand. Credit Suisse Group AG raised the stock to “neutral” from “underperform.”
To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
