Saturday, Aug 19th

Last update07:20:19 PM GMT

You are here Markets Africa News Update for South Africa’s FTSE/JSE Africa All Share Index

News Update for South Africa’s FTSE/JSE Africa All Share Index

News Update for South Africa's FTSE/JSE Africa All Share Index
South Africa’s FTSE/JSE Africa All Share Index rose for a third straight day, advancing or 0.4 percent, 128.94 points to 29,697.98 at the close. Here is an update of the stocks and commodities in the South African markets.

Anooraq Resources Corp., the platinum-mining company is planning to double its production at its Bokoni mine in South Africa to 240,000 ounces a year by 2013. The stock added 2 cents, or 0.2 percent, to 8.52 rand.

Anglo American Plc: Copper futures fell in London on investor concern the rally in prices to a 27-month high has been overdone. Stock of Anglo, the diversified mining company that makes up almost 10 percent of South Africa’s benchmark stock index, fell 7.17 rand, or 2.4 percent, to 292.10 rand, the most since Aug. 25.

AngloGold Ashanti Ltd.: Gold for immediate delivery snapped two days of gains after reaching a record of $1,366 an ounce as some investors sold the precious metal on speculation that the rally was overdone. Africa’s largest gold producer dropped 3.65 rand, or 1.1 percent, to 319.85 rand, matching yesterday’s 1.1 percent fall.

Sasol Ltd.: Oil futures fell from five-month highs after the dollar rose against the euro and U.S. equities fluctuated. Stock of Sasol, the world’s biggest maker of motor fuel from coal, snapped three days of gains by retreating 2.30 rand, or 0.7 percent, to 324.60 rand.