Monday, 11 February 2013 20:57
JOHANNESBURG: South African stocks edged back from record highs on Monday, with shares of platinum mining companies hit after Impala Platinum warned of lower earnings.
Shares of Sibanye Gold made their debut on the Johannesburg Stock Exchange, ending the day at 13.57 rand.
This was at the lower end of analyst estimates and valued the mining company at around 10 billion rand ($1.1 billion).
"The resources did get hit a bit today. Amplats has moved down as well, in sympathy with Implats," said Kyle Dutton, a stockbroker at Mercato Financial Services in Johannesburg.
"Everyone thinks that they've turned the corner and then something will hit them again."
The benchmark Top-40 index finished down 0.18 percent at 36,410.73. Earlier in the session it touched a record of 36,544.99.
The broader All-share index edged down 0.15 percent to 40,832.67. It hit a new high of 40,959.28 in early trade.
Shares of Impala Platinum, or Implats, fell 1 percent to ...