South African stock prices edged lower on Friday, concluding the worst quarterly performance for over a year, as concerns about the eurozone debt crisis weighed on resource companies and others sensitive to global demand.
ArcelorMittal South Africa, the local unit of the global steelmaker, was one of the worst performers during the quarter, dropping nearly 25% on worries a global slowdown would blunt demand for steel.
"The reality of underlying market conditions is setting in and guys seem nervous at this stage," said Nilan Morar, head of trading at Global Trader.
"In the short term you could see some relief rallies across the markets."
The Top 40 share index finished the day down 0.11% at 26375.82 to register a 4.7% fall for the month and a 7.6% drop in the last three months, its biggest quarterly decline since the second quarter of 2010.
The broader All Share index finished the day down 0.05% at 29674.20.
The Johannesburg-listed shares of luxury goods group Richemont, the maker of Mont Blanc pens and Cartier watches, fell 5.6% to R36.05 after data showed that China's manufacturing sector contracted for a third straight month in September, fuelling concerns for a market that has been a major revenue driver for Richemont.
Conversely, Johannesburg's gold mining index rose 4.3% on Friday as investors piled into the sector, attracted by relatively low prices, a weak local currency and bullion's safe haven status.
Harmony Gold climbed 5.2% to R95.35 and AngloGold Ashanti, Africa's biggest gold producer, gained 4.3% to R338.90.
A total of 135 companies advanced, while 134 declined and 62 were flat.
Total traded volume was 252.5million shares, according to Friday's late exchange data, from 228million on Thursday. -
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