South African Stocks Snap Two Days of Gains, Led Down by Anglo, BHP, Sasol

South Africa’s FTSE/JSE Africa All Share Index snapped two days of gains, losing 79.78, or 0.3 percent, to 27,900.82 in Johannesburg at 10:11 a.m.

The following were among the most active stocks in the South African market today.

Anglo American Plc (AGL SJ), the company that makes up almost 10 percent of the benchmark index, retreated 2.63 rand, or 0.9 percent, to 276 rand. Copper fell the most in two weeks on speculation China’s State Reserve Bureau may sell stocks after prices touched a four-month high. BHP Billiton Ltd. (BIL SJ), the world’s largest mining company, shed 69 cents, or 0.3 percent, to 210.10 rand.

Metorex Ltd. (MTX SJ): The copper producer posted a profit of 640 million rand ($88.2 million) for the 12 months through June, compared with a loss of 1.54 billion rand a year earlier, and said production of the metal jumped 60 percent. The stock rose as much as 4.4 percent to 3.80 rand and last traded at 3.67 rand.

Sasol Ltd. (SOL SJ), the largest maker of automotive fuel from coal, dropped 2.98 rand, or 1 percent, to 286.50 rand. Oil slipped for a second day on speculation consumption of fuel will fall now the U.S. summer holiday driving season has peaked.

To contact the reporter on this story: Nicky Smith in Johannesburg at nsmith38@bloomberg.net

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