Oct. 20 (Bloomberg) -- The FTSE/JSE Africa All Share Index closed at its lowest in a week, falling 360.46, or 1.2 percent, to 30,836.89 by the 5 p.m. end of trading in Johannesburg.
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 more than 9 percent of the benchmark stock index, closed at a two-week low, dropping 1.8 percent to 283 rand. Copper and zinc led a decline among base metals as a split emerged among European leaders on a rescue plan and concerns mounted about the recovery of the U.S. economy, threatening the demand outlook for commodities.
BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, fell 1.4 percent, to 235 rand. Separately, European steelmakers, under “real pressure,” are reducing capacity, Chief Executive Officer Marius Kloppers told reporters after the company’s annual general meeting in London.
Palabora Mining Co. (PAM SJ), a copper miner, slumped 3.8 percent to 113.71 rand.
Anglo American Platinum Ltd. (AMS SJ), the world’s biggest producer of the metal, declined to its lowest in more than five weeks, sliding 3.6 percent to 530.05 rand, as the spot price of platinum dropped a third day.
Harmony Gold Mining Co. (HAR SJ), the continent’s third- largest gold company, closed at its lowest in three weeks, slipping 3.1 percent to 92.64 rand. Gold fell to a two-week low as commodities declined on concern demand for raw materials may wane as Europe has yet to find a solution to its debt crisis.
Kumba Iron Ore Ltd. (KIO SJ), an iron ore-producing unit of Anglo American, fell to its lowest in almost two weeks, declining 3.7 percent to 441 rand. The company said iron-ore prices will remain volatile in the short term as it reported a 7 percent decline in sales volumes between June and September.
Mondi Ltd. (MND SJ), Europe’s largest maker of office paper, closed at its lowest in more than two weeks, dropping 4.9 percent, to 57.55 rand. The company was cut to “underperform” from “neutral” by analysts at Credit Suisse Group AG.
--Editors: Linda Shen, Emily Bowers
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