South Africa Stocks Fall For Second Day; DRDGold Climbs Most in Two Weeks

The FTSE/JSE Africa All Share Index fell to its lowest close in a month, losing 274.74, or 0.9 percent, to 31,593.99 by the 5 p.m. close in Johannesburg.

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

ArcelorMittal South Africa Ltd. (ACL) , Africa’s largest steelmaker, plunged to its lowest since March 2009, declining 4.45 rand, or 6 percent, to 69.75 rand. Third-quarter earnings are expected to be “substantially lower” than the previous three months, the group said in its interim report for the six months to June 30.

DRDGold Ltd. (DRD) , South Africa’s fourth-largest producer of the metal, gained the most in a week, rising 3 cents, or 1 percent, to 3.20 rand. Gold climbed to a record of $1,628.05 an ounce as investors sought to protect their wealth against the possibility of a U.S. default that may come as soon as next week.

Lonmin Plc (LMI) , the world’s third-largest platinum producer, advanced the most in two weeks, adding 1.43 rand, or 1 percent, to 144.43 rand. Credit Suisse Group AG raised the stock to “neutral” from “underperform.”

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

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

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