South African Stocks: Adcock Ingram, AngloGold, Impala, Sasol
June 24, 2010, 12:44 PM EDTBy Janice Kew
June 24 (Bloomberg) -- South Africa’s FTSE/JSE Africa All Share Index dropped for a third day, sliding 204.26, or 0.7 percent, to 27,413.65 in Johannesburg.
The following were among the most active stocks in the South African market today.
Adcock Ingram Holdings Ltd. (AIP SJ) climbed for the first time in four days, gaining 54 cents, or 0.9 percent, to 57.85 rand. Merck & Co. said it will work with Adcock Ingram to market and distribute medicines in South Africa as the U.S. drugmaker seeks to increase sales in emerging markets.
AngloGold Ashanti Ltd. (ANG SJ), Africa’s largest gold producer, rose 3.94 rand, or 1.2 percent, to 335.94 rand. Gold futures rose, rebounding from the lowest price in a week on speculation that the Federal Reserve will keep borrowing costs low for an extended period, weakening the dollar and boosting the appeal of the metal.
Impala Platinum Holdings Ltd. (IMP SJ), the world’s second- largest platinum producer, fell 4.40 rand, or 2.3 percent, to 187.30 rand. Larger rival Anglo Platinum Ltd. (AMS SJ) retreated for a third day, losing 16.99 rand, or 2.2 percent, to 773 rand. The metal used in clean-emissions technology by carmakers declined as much as 2 percent $1,538.75 an ounce.
Sasol Ltd. (SOL SJ), the world’s biggest maker of motor fuel from coal, lost 4.99 rand, or 1.7 percent, to 282.50 rand, bringing its drop in the last three days to 4.6 percent. Crude oil fell for a third day, following equities, as the rising cost to protect Greece from default spurred concern the European debt crisis is worsening.
--Editors: Linda Shen, Ana Monteiro.
To contact the reporter on this story: Janice Kew in Johannesburg at jkew1@bloomberg.net.
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
