South African Stocks: African Rainbow, Anglo Platinum, Harmony
The FTSE/JSE Africa All Share Index (JALSH) declined 0.8 percent to 33,629.77 by the 5 p.m. close in Johannesburg, a second day of losses.
The following were among the most active equities in the South African market today. Stock symbols follow company names.
African Rainbow Minerals Ltd. (ARI) , a South African miner of gold and industrial metals, declined 2.5 percent to 183.05 rand. The company said the Modikwa platinum mine, a joint venture with Anglo American Platinum Ltd. (AMS) , was closed after two workers died at the mine on Jan. 27.
Anglo Platinum, the world’s-biggest producer of the metal, declined 2.6 percent to 540.00 rand, a three-week low.
Anglo American Plc (AGL) , the diversified miner that accounts for 9 percent of the benchmark index, dropped for a second day, slipping 2.1 percent to 324.46 rand. Copper fell for a second day. Zinc, nickel and aluminum also dropped.
BHP Billiton Ltd. (BIL) , the world’s biggest miner, fell 1 percent to 263.90 rand.
Impala Platinum Holdings Ltd. (IMP) , the second-largest producer, retreated 2.8 percent to 174.27 rand. Goldman Sachs Group Inc. cut its price estimate for the shares to 160 rand from 170 rand, and most of the workforce at its Rustenburg operation failed to report for duty today following an illegal work stoppage.
Harmony Gold Mining Co. Ltd. (HAR) , South Africa’s third-biggest producer, advanced for a third day, gaining 1.5 percent to 95.40 rand after agreeing to sell its interest in Evander Gold Mines Ltd. for 1.7 billion rand ($216 million).
Imperial Holdings Ltd. (IPL) , which owns South Africa’s largest auto-dealer network, declined for the first time in four days, falling 1.3 percent to 136.81 rand. Citigroup Inc. cut the stock to “neutral” from “buy.”
Miranda Mineral Holdings Ltd. (MMH) , a minerals explorer, jumped the most since January 2006, climbing 37 percent to 26 cents. The Johannesburg Stock Exchange lifted a suspension on its shares after closely held Incubex Minerals Ltd. bought shares in Pretoria-based Miranda and agreed to provide working capital to fund its operations and settle some litigation issues.
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