SA stocks end lower, Nampak slips on write-down
JOHANNESBURG, March 25 (Reuters) – South African stocks fell more than 1 percent on Wednesday, with packaging firm Nampak sliding after saying it would write-down the value of its flexibles division before selling it while cancelling the sale of another unit.
The benchmark Top-40 index shaved off 1.18 percent to 46,182 and the All-share gave up 1.03 to 52,313.
Plastic packaging company Astrapak slid 4.8 percent after the company said it would sell bottle-making unit Cinqpet for 44 million rand ($4 million).
Decliners outnumbered advancers 229 to 99 with 46 shares unchanged, according to preliminary bourse data. Activity was relatively brisk with around 218 million shares changing hands, above last year's daily average of 183 million shares.
($1 = 11.8533 rand) (Reporting by Zandi Shabalala; Editing by James Macharia)