Briefs
SA stocks post biggest daily loss in a year
South African shares plunged more than 2 percent on Tuesday, the biggest one-day drop in a year, as falling oil and commodity prices depressed sentiment and dragged iron ore producers such as Kumba lower.
JOHANNESBURG (Reuters) – South African shares plunged more than 2 percent on Tuesday, the biggest one-day drop in a year, as falling oil and commodity prices depressed sentiment and dragged iron ore producers such as Kumba lower.
"It's going to remain volatile and will depend on underlying commodity prices," he said of the market.
Brent crude oil fell to a 5-year low near $65 a barrel in volatile trade on Tuesday, sliding for a sixth consecutive session on signs of a growing supply glut.
Harmony was up 6.6 percent and Gold Fields gained 3.6 percent.
Trade was robust with more than 219 million shares sold, according to preliminary bourse data, well above last year's daily average of 176 million shares.