The FTSE/JSE Africa All Share Index declined the most in 16 months, dropping 988.13, or 3.2 percent, to 30,323.04 by the 5 p.m. close in Johannesburg, a second day of losses.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AGL SJ), the mining company that makes up about 9 percent of the benchmark stock index, fell to the lowest in more than a week, sliding 12.85 rand, or 4.4 percent, to 282.65 rand. Copper fell to a one-year low in New York and headed into a bear market in London after a China factory index signaling contraction added to speculation of slowing metals demand.
BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, declined 12.15 rand, or 5.2 percent, to 220.65 rand.
AngloGold Ashanti Ltd. (ANG SJ), Africa’s biggest producer of the metal, dropped for the first day in seven, slipping 5.64 rand, or 1.5 percent, to 371.50 rand. Gold fell to a four-week low in New York as the dollar’s rally cut demand for the metal as an alternative asset after the Federal Reserve said it will buy longer-maturity U.S. debt.
Gold Fields Ltd. (GFI SJ), the continent’s second-biggest gold producer, slid 1.69 rand, or 1.2 percent, to 139.32 rand.
Harmony Gold Mining Co. (HAR SJ), the continent’s third-largest gold company, dropped 1 rand, or 0.9 percent, to 105 rand.
Kumba Iron Ore Ltd. (KIO SJ), an iron ore-producer, declined the most in more than two weeks, dropping 23.52 rand, or 5 percent, to 442.75 rand. Iron ore is set for the first four-year drop since at least 1982 as supplies surge. Global prices may fall 29 percent to an average $123 a metric ton in 2015 from a record $173 this year, according to the median estimates of 10 analysts surveyed by Bloomberg News.
SABMiller Plc (SAB SJ), the world’s second-largest brewer by volume, retreated the most in a month, slipping 5.46 rand, or 2.1 percent, to 259.54 rand. The maker of Peroni and Grolsch beer fell as European stock markets slumped and analysts said the company may be paying a high price for Foster’s Group Ltd.
Sasol Ltd. (SOL SJ), the world’s largest producer of motor fuel from coal, declined for a second day, falling 7 rand, or 2 percent, to 339.50 rand. Oil fell to a one-month low after the Federal Reserve cited “significant downside risks” to the economy of the U.S., the world’s biggest crude-consuming nation.
The Foschini Group Ltd. (TFG SJ), a clothing retailer, dropped the most in almost 2-1/2 years, sliding 4.88 rand, or 5.3 percent, to 87.90 rand. The rand plunged to an almost two-year low against the dollar, raising input costs and cutting rate-cut chances in the continent’s biggest economy.
Truworths International Ltd. (TRU SJ), declined 3.10 rand, or 4.1 percent, to 71.95 rand.