Anglo American Drops to One-Week Low, Trailing London Decline

Anglo American Plc, the mining company that makes up 10 percent of South Africa’s benchmark equity index, fell to its lowest level in a week in Johannesburg.

The stock slid 6.50 rand, or 2 percent, to 326 rand a share, after dropping 0.5 percent yesterday. The shares listed in London fell 2.4 percent in the last hour and a half of trading yesterday, after the Johannesburg exchange had closed.

“Today’s decline could only be to catch up with the overnight price in London,” Des Kilalea, a mining analyst at RBC Capital Markets in London, said in a phone interview.

The FTSE/JSE Africa All Shares Index declined 0.3 percent as of 4:25 p.m. in Johannesburg.