South Africa Stocks Fall for Second Day Led By Richemont, Northam Platinum

South Africa’s FTSE/JSE Africa All Share Index fell for a second day, dropping 15.64, or less than 0.1 percent, to 27,649.65 as of 9:52 a.m. in Johannesburg.

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

AngloGold Ashanti Ltd. (ANG SJ), Africa’s largest gold producer, climbed 4 rand, or 1.3 percent, to 324.50, its highest intraday level since July 1. Gold for immediate delivery increased as much as 0.4 percent to $1,260.52 an ounce in London, close to a record $1,265.30 reached on June 21.

Harmony Gold Mining Co. (HAR SJ) rose 97 cents, or 1.2 percent, to 79.60 rand, while Gold Fields Ltd. (GFI SJ) gained 60 cents, or 0.6 percent, to 107.75 rand.

Cie. Financiere Richemont SA (CFR SJ) fell for a second day, dropping 31 cents, or 1 percent, to 29.64 rand. The world’s biggest jewelry maker posted a 37 percent increase in sales in the five months through August. Chairman Johann Rupert said it was “far too soon to draw any conclusions about the sustainability of the economic recovery or whether the recession is truly behind us.”

Northam Platinum Ltd. (NHM SJ) fell for the first day in six, dropping 39 cents, or 0.9 percent, to 44 rand. The platinum producer said it’s losing about 9 million rand ($1.2 million) per day in revenue due to a pay strike at its Zondereinde mine, where about 80 percent of the 6,800 permanent employees have downed tools.

To contact the reporters on this story: Nasreen Seria in Johannesburg at nseria@bloomberg.net

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