{"id":12318,"date":"2012-07-12T00:28:24","date_gmt":"2012-07-11T22:28:24","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africa-stocks-down-as-exxaro-hammered-again\/"},"modified":"2012-07-12T00:28:24","modified_gmt":"2012-07-11T22:28:24","slug":"s-africa-stocks-down-as-exxaro-hammered-again","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-stocks-down-as-exxaro-hammered-again\/","title":{"rendered":"S.Africa stocks down as Exxaro hammered again"},"content":{"rendered":"

\t\t<\/span><\/p>\n

JOHANNESBURG, July 11<\/span> (Reuters) – South African stocks
\nslipped nearly 1 percent on Wednesday, as investors continued to
\nhit Exxaro Resources and other miners over worries that
\nslowing commodities demand would erase profits.<\/span><\/p>\n

<\/span><\/p>\n

Shares of Mondi Ltd edged down 1 percent after the
\npaper maker said it would buy German packaging firm Nordenia
\nInternational from Oaktree Capital, a $782 million deal
\nthat will give it a bigger presence in consumer packaging.<\/p>\n

<\/span><\/p>\n

“The resources just seem to be getting hammered here, the
\nsector is not looking great,” said Richard Juchniewicz, a trader
\nat SBG Securities.<\/p>\n

<\/span><\/p>\n

“This market is going to fall. Guys are saying things could
\nget pretty worse. Right at this time I’m not putting money on
\nthe table.”<\/p>\n

<\/span><\/p>\n

The benchmark Top-40 index closed down 0.93 percent
\nat 29,570.89.<\/p>\n

<\/span><\/p>\n

The All-share index, the broadest measure of South
\nAfrican stock performance, ended 0.81 percent lower at
\n33,724.69.<\/p>\n

<\/span><\/p>\n

Exxaro’ extended its slide into a fourth straight session,
\ndropping 3.3 percent to 173.61 rand. The diversified miner has
\nfallen nearly 16 percent since Friday, when Kumba Iron Ore
\n – in which it owns 20 percent – warned of lower
\nfirst-half profits due to a drop in metal prices.<\/p>\n

<\/span><\/p>\n

Exxaro was also been hurt by a sell-off this week in pigment
\nmaker Tronox Inc. The New York-listed firm, which is
\nnearly 40 percent owned by Exxaro, has tumbled on concerns of
\nweakening demand.<\/p>\n

<\/span><\/p>\n

Resource stocks have also been hurt by Chinese economic
\ndata, which suggests the world’s second-largest economy is
\nfacing its deepest slump since the 2008 crisis.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

JOHANNESBURG, July 11 (Reuters) – South African stocks slipped nearly 1 percent on Wednesday, as investors continued to hit Exxaro Resources and other miners over worries that slowing commodities demand would erase profits. Shares of Mondi Ltd edged down 1 percent after the paper maker said it would buy German packaging firm Nordenia International from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12318"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12318\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}