South African Stocks: Anglo American, ArcelorMittal, Pick n Pay
The FTSE/JSE Africa All Share Index slipped 313.24, or 1 percent, to 31,693.46 by 1:26 p.m. in Johannesburg. The index has weakened 1.3 percent this year.
The following are among the most active stocks in the South African market today. Stock symbols follow company names.
Anglo American Plc (AGL) , the mining company that makes up more than 9 percent of the benchmark stock index, dropped 1.8 percent to 296.75 rand. Copper declined for the first time in three days in London on concern demand in China, the biggest metal buyer, will slow after property prices fell.
BHP Billiton Ltd. (BIL) , the world’s biggest miner, retreated 1.9 percent to 237.32 rand.
ArcelorMittal South Africa Ltd. (ACL) , Africa’s largest steelmaker, dropped for the first time in four days, falling 2.8 percent to 64.17 rand. The stock is excluded from the Johannesburg Stock Exchange’s Top 40 index from today following a quarterly review of companies’ index weightings.
Pick n Pay Stores Ltd. (PIK) rose 1.2 percent to 46.89 rand. December has started “extremely well,” Chief Executive Officer Nick Badminton said, according to the Johannesburg-based Business Day newspaper.
Steinhoff International Holdings Ltd. (SHF) , Africa’s largest furniture maker, slid for a third day, retreating 2.6 percent to 22.96 rand. The company agreed to buy a 20 percent stake in PSG Group Ltd. for 1.6 billion rand ($191 million), paying mainly with stock.
Telkom South Africa Ltd. (TKG) , Africa’s largest fixed- line phone company, declined 1.4 percent to 29 rand. Moody’s Investors Service downgraded the company’s senior unsecured issuer rating to Baa2 from Baa1 with a stable outlook.
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