Platinum Miners Pull Down South African Stocks

Reuters reported South African stocks fell on Monday as platinum miners dragged traders down even as the bourse upgraded its trading platform.

As quoted in the market news:

Overall, the benchmark Top-40 index closed 0.26 percent lower at 29,561.58 while the broader All-Share Index lost 0.17 percent to 33,652.69.

Amplats, the world’s largest platinum producer, was the biggest blue-chip loser on the day, shedding over 5 percent to 460.11 rand after the company said in a profit warning it expected first half earnings to fall at least 20 percent on depressed sales and prices.

Impala Platinum, the world No. 2 producer of the precious metal, fell almost 4 percent.

Click here to read the full Reuters report.