South African stocks retreated from a record as shares in miners tumbled the most in a month, with metals prices falling amid doubts regarding the approval of a U.S. stimulus package.
The benchmark FTSE/JSE Africa All Share Index dropped 0.5% from Thursday’s all-time high.
The gauge still narrowly eked out a third consecutive weekly gain for the first time since August after closing at record peaks on five days this month
Anglo American Plc led declines, sliding 3.4%, while global diversified mining peer BHP Group Plc dropped 2.1%. African Rainbow Minerals Ltd. was the worst performer in the local index of mining stocks, falling 5.2%. The sector gauge lost 1.5% in its sharpest descent since Dec. 18, tracking declines in European peers, which headed for their worst session since October.
The sector gauge lost 1.5% in its sharpest descent since Dec. 18, tracking declines in European peers, which headed for their worst session since October.
