South African Stocks Retreat for a Third Day, Led by Anglo American, Sasol

The FTSE/JSE Africa All Share Index weakened for a third day, losing 274.50, or 0.9 percent, to 31,582.14 at the 5 p.m. close of trade in Johannesburg.

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

Anglo American Plc (AAL) , a diversified mining company that comprises 10 percent of the benchmark stock index, dropped 4.50 rand, or 1.4 percent, to 327 rand, the lowest close since Dec. 9. Copper headed for the lowest closing level since Dec. 3, falling 4.1 percent to $8,752.25 a metric ton on the London Metal Exchange, on concern economic growth will slow as central banks around the world raised interest rates to curb inflation. BHP Billiton Plc (BIL) , the world’s largest mining company, fell for a sixth day, dropping 2.57 rand, or 1 percent, to 264.39 rand.

AngloGold Ashanti Ltd. (ANG) , Africa’s largest producer of the precious metal, declined 1.70 rand, or 0.5 percent, to 312.50 rand, the lowest level since March 22. Gold fell for a third day, losing 1.5 percent to $1,488.19 an ounce. Gold Fields Ltd. (GFI) , the continent’s second-biggest producer of the metal, weakened for a third day, losing 1.50 rand, or 1.4 percent, to 108.50 rand, the lowest close since Nov. 3.

Harmony Gold Mining Ltd. (HAR SJ), Africa’s third-largest producer of the metal, retreated 1.25 rand, or 1.3 percent, to 92.75 rand, a third day of decreases. Output in the first nine months of its fiscal year dropped 10 percent from a year earlier as the company struggled with technical breakdowns, it said in a regulatory statement today.

Mondi Plc (MNP) , Europe’s largest maker of office paper, climbed 1.71 rand, or 2.7 percent, to 65.71 rand, the highest price since April 8. Cost pressures have moderated in the second quarter, the company said.

Sasol Ltd. (SOL) , the world’s biggest maker of motor fuel from coal, declined for a third day, dropping 6.90 rand, or 1.9 percent, to 354.50 rand, the lowest price since March 15. Oil slipped for a fourth day, retreating 7.50 percent to $101.08 per barrel as a drop in gasoline demand added to signs of slowing growth in the U.S., the world’s biggest crude consumer.

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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