Oct. 26 (Bloomberg) -- The FTSE/JSE Africa All Share Index advanced for a fourth day, gaining 73.01, or 0.2 percent, to 31,736.62 at the 5 p.m. close in Johannesburg.
The following are among the most active stocks in the South African market today.
ArcelorMittal South Africa Ltd. (ACL SJ), Africa’s largest steel-maker, declined for a second day, losing 0.8 percent to 65.94 rand. The company said Johan Fourie will resign from the company as chief operating officer from Dec. 31. Fourie will be replaced by Hans-Ludwig Rosenstock.
Anglo American Plc (AGL SJ), the mining company that makes about 9 percent of the benchmark stock index, rose 0.8 percent to 290.79 rand. Copper rose to a four week high on speculation that China, the world’s second-biggest economy and largest consumer of minerals, may lower interest rates, boosting demand.
BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, added 1 percent to 248.30 rand.
AngloGold Ashanti Ltd. (ANG SJ), Africa’s biggest producer of the precious metal, climbed to the highest in a month, rising 1.8 percent to 347.50 rand. Gold advanced to the highest level in more than a month as concern European leaders may fail to resolve the region’s debt crisis spurred demand for a haven.
Gold Fields Ltd. (GFI SJ), the country’s second-biggest producer, added 2.5 percent to 134.40 rand.
JSE Ltd. (JSE SJ), the operator of Johannesburg’s stock Exchange, advanced for a fourth day, rising 1.5 percent to 67 rand. South Africa’s National Treasury said it intends to allow trade in shares of offshore companies listed on the nation’s stock exchange to be classified as local, easing rules restricting foreign stock ownership.
Sasol Ltd. (SOL SJ), the biggest producer of gasoline from coal, declined for the first time in four days, dropping 1.9 percent to 363 rand. The company was rated “underweight” in new coverage by Morgan Stanley, with a price estimate of 343 rand.
With assistance by Sikonathi Mantshantsha in Johannesburg.
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