Already a Bloomberg.com user?
Sign in with the same account.
Nov. 23 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined 333.44, or 1.1 percent, to 31,036.30 by 1:44 p.m. in Johannesburg, reversing yesterday’s 0.8 percent gain.
The following are 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, sank 2 percent to 292.75 rand. Copper fell in London as reports showed manufacturing contracted in Europe and may shrink the most in more than two years in China, fueling concern demand might weaken.
BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, dropped 2.4 percent to 230.30 rand.
Illovo Sugar Ltd. (ILV SJ), Africa’s biggest producer of the sweetener, declined for a third day, slipping 0.9 percent to 25.36 rand. A drought in South Africa may reduce output as much as 10 percent in the year to March 31, the company said in a regulatory filing.
Naspers Ltd. (NPN SJ), Africa’s largest media group, dropped 2.2 percent to 345.76, wiping out yesterday’s advance. The stock was rated “underperform” in new coverage by Jefferies, with a 12-month price estimate of 300 rand.
Sasol Ltd. (SOL SJ), the biggest producer of gasoline from coal, rose 1 percent to 368.48 rand, a second day of gains. Earnings for the six months through December will probably increase by at least 45 percent compared with a year earlier, the company said in a regulatory filing.
Tiger Brands Ltd. (TBS SJ), South Africa’s largest food company, fell for a fourth day, sliding 0.9 percent to 223 rand. The company said unemployment and rising commodity prices will restrain growth next year even as it reported profit for 2011 that exceeded analysts’ estimates.
--Editors: Stephen Kirkland, Linda Shen
To contact the reporter on this story: Stephen Gunnion in Johannesburg at firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com