The FTSE/JSE Africa All Share Index declined 257.41, or 0.8 percent, to 30,944.41 by 9:40 a.m. in Johannesburg, erasing yesterday’s 0.8 percent advance. The index has slumped 2.7 percent this week.
The following are among the most active stocks in the South African market today. Stock symbols follow company names.
Anglo American Plc (AGL) , the mining company that makes up more than 9 percent of the benchmark stock index, fell for a third day, slipping 1 percent to 287 rand. Copper retreated, heading for a fourth weekly decline, after Germany ruled out joint euro-area borrowing and an expanded role for the European Central Bank in fighting the region’s debt crisis.
BHP Billiton Ltd. (BIL) , the world’s largest mining group, dropped 0.8 percent to 228.57 rand.
AngloGold Ashanti Ltd. (ANG) , the world’s third-largest producer of the metal, slipped 0.8 percent to 370.51 rand. Gold declined as investors seeking a protection of wealth during Europe’s sovereign-debt crisis turned to the dollar, curbing demand for the precious metal.
Gold Fields Ltd. (GFI) , the country’s second-biggest producer, slipped 1.2 percent to 130.90 rand.
Liberty Holdings Ltd. (LBH SJ), the insurer controlled by Africa’s largest bank, gained for a second day, adding 0.6 percent to 79.55 rand. The company said long-term insurance indexed new business rose 14 percent to 3.69 billion rand ($433.4 million) in the nine months through September.
Royal Bafokeng Platinum Ltd. (RBP) , a producer of the metal, headed for its biggest gain in two months, climbing 2.2 percent to 54.89 rand. The stock was rated “overweight” in new coverage by HSBC Holdings Plc, with a price estimate of 68.90 rand.
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