By Janice Kew
Nov. 6 (Bloomberg) -- South Africa’s FTSE/JSE Africa All Share Index added 35.65, or 0.1 percent, to 25,933.45. The measure lost 1.6 percent in the week, its second weekly drop.
The following were among the most active stocks in the South African market today.
AngloGold Ashanti Ltd. (ANG SJ), Africa’s largest gold producer, rose 10.70 rand, or 3.6 percent, to 312.01 rand, bringing its gain this week to 7.6 percent. Gold Fields Ltd. (GFI SJ), the second-biggest, added 1.92 rand, or 1.8 percent, to 106.02 rand. Harmony Gold Mining Co. (HAR SJ), South Africa’s third-largest gold producer, slid 2.20 rand, or 2.8 percent, to 82.19 rand. Gold futures jumped to a record, topping $1,100 an ounce, on mounting speculation that low U.S. borrowing costs will drive the dollar lower, boosting the appeal of the precious metal as an alternative investment.
Hosken Consolidated Investments Ltd. (HCI SJ) fell for a fifth day, sliding 75 cents, or 1.1 percent, to 68.15 rand. The investment company with gaming interests said first-half net income fell 40 percent to 125 million rand.
Vodacom Group Ltd. (VOD SJ) dropped 27 cents, or 0.5 percent, to 52.38 rand, paring yesterday’s 2.1 percent rally. BofA Merrill Lynch Global Research cut its recommendation on the largest provider of wireless services to South Africans to “neutral” from “buy,” saying it was turning more pessimistic on the dynamics of South Africa’s mobile market.
To contact the reporter on this story: Janice Kew in Johannesburg at jkew1@bloomberg.net.
Last Updated: November 6, 2009 11:08 EST
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