The FTSE/JSE Africa All Share Index snapped two days of gains, losing 405.32, or 1.3 percent, to 31,412.98 as at 10:37 a.m. in Johannesburg.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AAL) , the diversified mining company that makes up 9.9 percent of South Africa’s benchmark stock index, fell the most since June 3, losing 5.62 rand, or 1.7 percent, to 324.38 rand. Copper slipped for the first time in four days as concern about an economic slowdown grew after Federal Reserve Chairman Ben S. Bernanke didn’t signal fresh stimulus as the recovery slows.
AngloGold Ashanti Ltd. (ANG) , Africa’s largest producer of the precious metal, dropped to the lowest intraday price since Aug. 3, shedding 5.59 rand, or 1.9 percent, to 293.71 rand. Gold declined as European debt concerns eased, eroding the appeal of the precious metal as a haven asset. Silver, platinum and palladium also fell.
Harmony Gold Mining Co. (HAR SJ), the third-largest producer, lost 1.94 rand, or 2.1 percent, to 89.75 rand, heading for the lowest close since March 23. Gold Fields Ltd. (GFI) , the second-largest African gold mining company, matched its longest losing streak since February, slipping 85 cents, or 0.8 percent, to 100.50 rand, a sixth day of declines.
BHP Billiton Plc (BIL) , the world’s largest mining company, dropped 5.90 rand, or 2.3 percent, to 254 rand. Workers at the company’s Queensland, Australia, coal mines will go on strike for three days next week, the union’s president said by telephone.
Sanlam Group Ltd. (SLM SJ), the largest South Africa-based insurer, snapped two days of advances, declining 42 cents, or 1.5 percent, to 27.21 rand. The insurer will today publish its operational update for the four months through April.
Telkom South Africa Ltd. (TKG SJ), Africa’s largest fixed- line telephone operator, fell as much as 3.4 percent and was down 25 cents, or 0.7 percent, to 36.45 rand. A Nigerian court found in favor of Helios Towers Nigeria in a dispute with Telkom’s Multi-Links unit about the validity of a lease contract for which Helios claims it’s owed $252 million.
To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
