South Africa Stocks Fluctuate as Miners Counter Naspers Strength
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South Africa’s main stock index is little changed as of 10:20 a.m. in Johannesburg, swinging between gains of as much as 0.5% and a drop of the same magnitude as heavyweight global luxury retailer Richemont and mining giant Anglo American Plc weigh on the market, countering a rising Naspers Ltd.
An index of mining stocks retreated 0.6% amid signs that tightness in the global iron ore market is easing. Anglo American fell 0.7%, while Exxaro Resources Ltd. dropped 1.7%. Richemont caused the biggest drag on the key stocks gauge, slumping 0.9%.