April 8 (Bloomberg) -- South Africa’s FTSE/JSE Africa All Share Index fell for a second day, losing 234.79, or 0.8 percent, to 29,030.38 in Johannesburg.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AGL SJ) retreated 4.19 rand, or 1.3 percent, to 323.77 rand, extending yesterday’s 1 percent slide. Copper fell for a second day in London as the dollar strengthened and investors judged that a rally to a 20-month high was excessive.
Anooraq Resources Corp (ARQ SJ) dropped for a second day, losing 10 cents or 0.9 percent, to 11.70 rand. The platinum exploration company said its full-year loss widened to C$51.8 million ($51.5 million) in the 12 months through December from C$14 million a year earlier.
Aveng Ltd. (AEG SJ), South Africa’s largest construction and engineering company by market value, retreated 20 cents, or 0.5 percent, to 38.80 rand before a decision by the World Bank over whether to lend Eskom Holdings Ltd. $3.75 billion to help fund expansion. The stock had climbed 4.3 percent in the previous two days.
“Construction stocks have been rising in the last few days in anticipation of the Eskom loan approval,” said Henre Herselman, a derivatives trader at Nedbank Group Ltd.’s BoE Stockbrokers in Johannesburg. If the loan is not approved it may raise concerns of possible delays in the building of government funded infrastructure projects, he added.
BSI Steel Ltd. (BSS SJ) rallied 5 cents, or 8.3 percent, to 65 cents, the biggest advance since March 3. The steel trader and processor said its fiscal second-half “shows fair improvement,” both compared to its first-half and to the year earlier period.
FirstRand Ltd. (FSR SJ), South Africa’s second-largest banking group, slumped 82 cents, or 4 percent, to 19.67 rand, the biggest retreat in almost a year. FirstRand Empowerment Trust is seeking to raise about 1.5 billion rand ($204 million) by selling 76 million shares of FirstRand Ltd. at 19.50 rand apiece.
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