The FTSE/JSE Africa All Share Index fell for a second day, declining 104.49, or 0.3 percent, to 31,911.81 by 12:28 p.m. in Johannesburg.
The following are among the most active stocks in the South African market today.
BHP Billiton Ltd. (BIL SJ), the world’s biggest mining group, headed for its lowest close in a week, dropping 3.08 rand, or 1.2 percent, to 259.72 rand. Copper fell in London as a lack of progress in raising the U.S. debt ceiling boosted concern that the world’s largest economy may default, hurting industrial commodities.
AngloGold Ashanti Ltd. (ANG SJ), Africa’s largest gold producer, climbed the most in a week, gaining 4.29 rand, or 1.4 percent, to 307.49 rand. Gold rallied to a new high, strengthening as much as 1.4 percent to $1,624.07 an ounce, as U.S. lawmakers failed at the weekend to reach an agreement on raising the federal debt limit, boosting demand for gold as a haven investment on concern that the government of world’s largest economy may default next week.
Gold Fields Ltd. (GFI SJ), Africa’s second-biggest producer, headed for its highest close in a week, advancing 1.06 rand, or 1 percent, to 106.85 rand.
Exxaro Resources Ltd. (EXX SJ), the biggest seller of coal to South African power utility Eskom Holdings SOC Ltd., declined 2.09 rand, or 1.1 percent, to 184.41 rand, a second day of losses. South African workers today started a strike over pay at mines producing coal for use at local, Indian and European power plants.
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
