11 de septiembre de 2015 / 16:13 / en 2 años

UPDATE 1-Gold shares lead S.Africa bourse lower, rand flat

* Main indices fall the most in a week

* Gold stocks under pressure from prices

* Rand sees biggest weekly gain since late March

* Bond yields dip as buyers return (Updates rand, adds stocks closing prices, fresh quotes)

JOHANNESBURG, Sept 11 (Reuters) - South Africa’s stocks fell the most in a week as AngloGold Ashanti and Harmony Gold came under pressure from a lower bullion price on Friday, while the rand was flat on the day but on track for its biggest weekly gain since March.

AngloGold, Africa’s biggest bullion producer, led the losers, falling 9.4 pct to 96.75 rand, while Harmony saw its share price fall 7.5 percent to 9 rand.

Harmony, which is trading near 22-year lows, said on Friday its secondary listing in New York was in jeopardy because its average closing price over a period of 30 days had fallen below the mininum threshold of $1.

“The rand is strengthening and the gold price is lower today, those two in sync put quite a bit of pressure on gold companies,” said Piru Harington, a trader at Global Trader.

Investment firm Brait SE fell the most in almost a year after announcing plans to raise $541 million for acquisitions. Brait, which owns everything from a gym chain to a clothing retailer, said it would raise the money through a convertible bond. Its shares fell 7.85 percent to 130 rand.

The benchmark Top-40 index fell 1.31 percent to 43,450 points while the broader All-share index slipped 1.2 percent to 48,930 points.

On the foreign exchange market, the rand traded at 13.6300 by 1528 GMT, barely changed from Thursday’s New York close at 13.623 but was stronger this week.

The rand has pulled back about 2.9 percent after testing a record low of 14.0175 on Monday, as investors fretted about the global impact of slowing Chinese growth.

“A correction was on the cards after the kind of levels we saw earlier this week, but the rand remains hostage to the Fed next week,” a trader with a commercial bank said, referring to the U.S. central bank’s policy meeting on Wednesday and Thursday.

Investors have dumped emerging markets in anticipation that U.S. interest rates could start rising in September, but those expectations have now largely been pushed back to December.

In fixed income, yields headed lower as buyers returned to be market after a sell-off over the past six weeks. The yield on paper due in 2026 fell 1 basis point to 8.475 percent.

“Over the last six weeks, your 186 benchmark has sold off 50 basis points,” Investec trader Steve Arnold said. “There’s a bit of profit taking on short positions around current levels, and there’s reinvestment of coupons - September is a big coupon month.” (Reporting by Stella Mapenzauswa and Zandi Shabalala; Editing by James Macharia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below