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BLBG:South African Stocks Fall: Sasol Drops as Oil Industry Strike Hits Secunda
 
The FTSE/JSE Africa All Share Index fell 278.72 or 0.9 percent, to 32,009.71 by 1:18 p.m. in Johannesburg. The index gained 0.9 percent last week.
The following are among the most active stocks in the South African market today.
AngloGold Ashanti Ltd. (ANG) , Africa’s largest gold producer, rose to its highest in almost seven weeks, gaining 7.55 rand, or 2.5 percent, to 314.05 rand. Gold gained for an 11th day in its longest winning streak since 1980 as debt concerns in Europe and the U.S. boosted demand for the metal as a protection of wealth.
Gold Fields Ltd. (GFI) , Africa’s second-biggest producer of the metal, traded at its highest since June 2, climbing 2.38 rand, or 2.2 percent, to 109.41 rand.
Harmony Gold Mining Co. (HAR SJ), Africa’s third-largest gold producer, advanced 2.02 rand, or 1.4 percent, to 100.70 rand, the highest since May 3.
ArcelorMittal South Africa Ltd. (ACL) , Africa’s largest steelmaker, fell for a third day, dropping 1.51 rand, or 2 percent, to 75.84 rand. About 320,000 workers in South Africa’s metals and engineering industries will return to work after employers agreed to a wage increase of 10 percent, above an earlier offer of 7 percent.
Metmar Ltd. (MML) , a South African mining investment company, headed for its highest in more than four weeks, gaining 15 cents, or 4.7 percent, to 3.35 rand. The group said earnings would be improved by its purchase of a further 60 percent interest in Eastern Belt Chrome Mines.
Sasol Ltd. (SOL) , the world’s largest maker of motor fuel from coal, fell to its lowest in a week, dropping 5.76 rand, or 1.6 percent, to 353.99 rand. The oil company lowered production rates at parts of its Secunda plant in South Africa “in the interest of safety” amid a strike over wages, the company said in an e-mailed statement.
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
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