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Stocks in South Africa Decline for First Day in Four, Led by Anglo and BHP

The FTSE/JSE Africa All Share Index added 28.91, or 0.1 percent, to 32,661.06 at the 5 p.m. close in Johannesburg, taking the week’s gain to 2.3 percent.

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

African Eagle Resources Plc (AEA SJ), the southern and eastern African gold and minerals explorer, jumped to the highest level since June 2008, adding 23 cents, or 18 percent, to 1.50 rand. MWB Ltd. increased its holding to a total 31.5 million shares, or 8.18 percent, African Eagle said in a statement to the stock exchange.

Anglo American Plc (AGL SJ), the diversified mining company that makes up 10 percent of South Africa’s benchmark measure, snapped four days of gains, losing 3.75 rand, or 1 percent to 363.75 rand. Copper fell as much as 0.8 percent to $9,534.25 a metric ton on speculation demand from the metal’s largest consumer, China, is slowing. Zinc and aluminum fell on the London Metals Exchange. BHP Billiton Ltd. (BIL SJ), the world’s largest mining company, dropped 1.12 rand, or 0.4 percent, to 272.20 rand.

Premium Properties Ltd. (PMM SJ), the real-estate investor, fell the most since Nov. 23, losing 30 cents, or 2 percent, to 14.95 rand, the lowest close since July 16. Premium said it intends to raise as much 400 million rand ($58 million) through a partially underwritten rights offer.

Santam Ltd. (SNT SJ), South Africa’s largest property and casualty insurer, declined the most in a month, dropping 3.55 rand, or 2.6 percent, to 131.35 rand. Investec Plc cut its recommendation on the shares to “sell” from “hold.”

Telkom SA Ltd. (TKG SJ), Africa’s largest fixed-line phone company, declined for the third day, falling 64 cents, or 1.7 percent, to 36.36 rand, the lowest since Dec. 14. The company said its Acting Chief Executive Officer, Jeffrey Hedberg, will quit when his contract expires in March.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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