March 8 (Bloomberg) -- The FTSE/JSE Africa All Share Index fell 470.79, or 1.5 percent, to 31,827.42 at the 5 p.m. close in Johannesburg, a third day of losses.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AGL SJ), the diversified mining company that makes up 11 percent of South Africa’s benchmark stock index, fell to the lowest since Feb. 1, losing 12.31 rand, or 3.3 percent, to 361.19 rand. Copper fell as much as 1.6 percent to $9,346.25 a metric ton on the London Metal Exchange on concern higher oil prices may erode economic growth, reducing demand for industrial metals. BHP Billiton Plc (BIL SJ), the world’s largest mining company, dropped for a second day, falling 10.05 rand, or 3.6 percent, to 267.70 rand.
Esorfranki Ltd. (ESR SJ) added 2 cents, or 1.2 percent, to 1.67 rand. The company said it raised 200 million rand ($29 million) in an offer of stock to existing shareholders. Coronation Asset Management Ltd. bought 64 percent of the stock and Sanlam Investment Management Ltd. 20 percent of the rights shares. The two fund management companies underwrote the 2.15 rand-a-share issue.
Jasco Electronics Holdings Ltd. (JSC SJ), a South African telecommunications company, dropped to the lowest since September 2004, falling 15 cents, or 12 percent, to 1.09 rand. Jasco said earnings per share in the first half through December will probably retreat as much as 75 percent, compared with a year earlier.
RMI Holdings Ltd. (RMI SJ), the investment company with interests in insurance services, made its debut on the bourse, slipping 51 cents, or 4.1 percent, to 12 rand. RMI listed after RMB Holdings Ltd. (RMH SJ) and FirstRand Ltd. (FSR SJ) unbundled their respective insurance interests to form the new company. FirstRand rose 1.3 percent to 19.30 rand while RMB declined 1.5 percent to 26 rand.
Sasol Ltd. (SOL SJ), the largest producer of motor fuels made from coal and gas, fell 3.39 rand, or 0.9 percent, to 383.60 rand, paring its gain this year to 11 percent. The company said it agreed to pay C$1.05 billion ($1.1 billion) for a 50 percent stake in the Cypress A project in Canada, its second shale-gas acquisition in less than three months.
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