South African Stocks Snap Two-Days of Gains: Impala Rises For a Second Day
Stock Chart for Impala Platinum Holdings Ltd (IMP)
The FTSE/JSE Africa All Share Index snapped two days of gains, dropping 106.44, or 0.3 percent, to 32,203.94 at the 5 p.m. close in Johannesburg.
The following were among the most active stocks in the South African market today.
Anglo American Platinum Ltd. (AMS SJ), the world’s largest producer of the metal, reversed yesterday’s losses, adding 13.51 rand, or 2.3 percent, to 612.52 rand. The price of the metal climbed for a third day.
Impala Platinum Holdings Ltd. (IMP) , the world’s second- largest producer of the metal, advanced for a second day, increasing 3.80 rand, or 2.2 percent, to 176 rand.
BHP Billiton Plc (BIL) , the world’s biggest mining company, closed at its lowest since June 28, retreating 4.83 rand, or 1.8 percent, to 263.48 rand. Copper fell for the first time in three days on concern that demand may wane from China and the U.S., the world’s largest consumers.
Gold Fields Ltd. (GFI) , Africa’s second-biggest producer of the metal, snapped three days of gains, dropping 1.85 rand, or 1.7 percent, to 104.90 rand. Gold futures fell to $1,581.80 an ounce in New York.
Harmony Gold Mining Company Ltd. (HAR SJ), Africa’s-third largest gold producer, retreated for the first day in four, falling 1.88 rand, or 1.9 percent, to 95.64 rand.
Growthpoint Properties Ltd. (GRT) , South Africa’s largest publicly traded real-estate investor, retreated for a fifth day, dropping 20 cents, or 1.1 percent, to 18.20 rand. Growthpoint said it raised about 1.8 billion rand ($263 million) through the sale of 100 million new shares.
Northam Platinum Ltd. (NHM) , the operator of the world’s deepest platinum mine, advanced 1 rand, or 2.5 percent, to 40.50 rand, a second day of gains. Northam said it resumed underground operations at its Zondereinde mine in South Africa, following the death of a worker in an accident on July 6.
SacOil Holding Ltd. (SCL) , an oil and natural-gas explorer, declined for a fifth day, dropping 3 cents, or 4.6 percent, to 62 cents. Crude oil fell after Federal Reserve Chairman Ben S. Bernanke said the increase in inflation this year is one reason why the Fed won’t immediately embark on a third round of bond-buying to stimulate economic growth.
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