JOHANNESBURG – South Africa’s main stock benchmark declines 0.3% by 9:42 a.m. in Johannesburg, before the release of data that may show the unemployment rate in the country rose to a record in the second quarter.
Banks retreated after surging by the most in almost three weeks in Monday’s session.
Unemployment is expected to increase to 35%, according to the median estimate in an economist survey, the highest among 83 countries tracked by Bloomberg.
- An index of bank stocks falls 0.9% as the rand weakens; sector retraces some of Monday’s surge of 6.4%, which was the sharpest gain since Sept. 9
- FirstRand Ltd. -0.9%, Absa Group Ltd. -1.2%, Standard Bank Group Ltd. -0.5%, Capitec Bank Holdings Ltd. -0.9%, Nedbank Group Ltd. -0.1%
- Financials drop 0.8%
- Remgro Ltd -1.3% after company publishes results for the year to June
- Reinet Investments SCA -1%, Quilter Plc -1.3%, Rand Merchant Investments Holding -1.3%, JSE Ltd. -1.4%
- Insurers -0.9%
- Old Mutual Ltd. -2%, Sanlam Ltd. -0.8%, Discovery Ltd. -1%, Liberty Holdings Ltd. -0.8%
- Naspers Ltd. -0.3%, Sasol Ltd. -2.4%, Richemont -0.3%
- Gains by gold producers counter weakness among diversified miners, lifting gauge pf mining stocks, which rises 0.3%
- Sub-index of gold stocks rises for a third day, the longest winning streak since July 27, as bullion gains amid igns of further stimulus in the U.S. and Europe
- Gold Fields Ltd. +2.3%, AngloGold Ashanti Ltd. +1.1%, Harmony Gold Mining Co Ltd. +2.3%, DRDGold Ltd. +2.2%, Pan African Resources Plc +1.7%
- BHP Group Plc -0.7%, Anglo American Plc -0.7%, Glencore Plc -1.7%, Exxaro Resources Ltd. -0.3%, African Rainbow Minerals Ltd. -0.4%
- Foreigners remained net sellers of South African stocks for a seventh day Monday, disposing of 206 million rand worth of shares, according to exchange operator JSE Ltd.