BLBG:Stocks in South Africa Fall for Third Day; AngloGold, BHP Billiton Move
The FTSE/JSE Africa All Share Index fell for a third day, dropping 139.37, or 0.4 percent, to 31,454.62 by 10:33 a.m. in Johannesburg.
The following are among the most active stocks in the South African market today.
AngloGold Ashanti Ltd. (ANG) , Africa’s largest gold producer, headed for its lowest close in almost three weeks, falling 4.85 rand, or 1.7 percent, to 285.23 rand. Gold priced in rand fell for a third day as the currency strengthened to an almost three-month high against the dollar. South African miners sell their metal in dollars and pay local costs in rand.
Harmony Gold Mining Co. (HAR SJ), Africa’s third-largest gold producer, declined 1.29 rand, or 1.4 percent, to 92.85 rand.
BHP Billiton Ltd. (BHP) , the world’s biggest mining group, dropped to its lowest in a month, slipping 2.50 rand, or 1 percent, to 252.50 rand. The group declared force majeure on shipments from Chile’s Escondida copper mine, the world’s largest, as a strike stretched into a seventh day with workers threatening to take control of the site.
Mondi Ltd. (MND) , Europe’s largest maker of office paper, declined the most in almost two weeks, declining 91 cents, or 1.6 percent, to 54.49 rand. Second-half performance will be affected by the planned maintenance shutdown of “a number of” its “large and strongly profitable European mills,” the group said in its first-half results announcement.
Mpact Ltd. (MPT SJ), the South African packaging company spun out of Mondi Group, retreated for a second day, falling as much as 30 cents, or 2.2 percent, to 13.10 rand before trading 0.8 percent down at 13.30 rand. The company said earnings before interest, tax, depreciation and amortization for the six months to June 30 are expected to have risen by 7.1 percent from a year earlier.
Northam Platinum Ltd. (NHM) , the operator of the world’s deepest platinum mine, headed for its lowest close since November 2009, easing 50 cents, or 1.3 percent, to 38.50 rand. The company was downgraded to “hold” from “buy” by Nic Dinham, an equity analyst at Cadiz Securities.
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
