Africa Stock Market Closing Report | South African stock market fell more than 2%, following the decline in gold prices from their historical highs
On Friday (October 17), the South African FTSE/JSE Africa Leading 40 Index closed down 2.20%, marking its worst single-day performance since April 4 (when it fell over 5.35%), dropping below 103,500 points and moving away from its historical closing high, with a cumulative increase of 0.76% for the week.
Component stock Sibanye Stillwater fell 9.80%, Harmony Gold (HAR.SJ) dropped 9.15%, Valterra Platinum fell 8.96%, making it the third largest decline, while Gold Fields (GFI) decreased by 5.93%, ranking among the top declines.
British American Tobacco (BTI) closed up 1.01%, Anheuser-Busch InBev (ANH) rose 1.66%, and MTN Group increased by 1.90%
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