South African stocks fell in volatile trade on Monday as poor manufacturing data hit chemicals maker AECI while iron ore producers extended their 2014 slide as Chinese demand for their commodity remains subdued. Domestic data on Monday showed that manufacturing production contracted 1.3 percent in November, well below expectations by analysts polled by Reuters of 1.7 percent growth.
Speciality chemicals maker AECI fell 1.43 percent. "The manufacturing production number came out and we saw a bit of a pull back in our market at that point, it was a disappointment," said Viv Govender, a senior analyst at Vunani Private Clients. Mining companies such as Kumba Iron Ore and Assore fell for a fourth straight session as demand slowed in the world's top consumer, China.
Kumba, one of the JSE's biggest losers last year, fell 2.2 percent while smaller rival Assore shed 1 percent. A supply glut saw the price of iron ore almost halve last year. The benchmark Top-40 index fell 1.2 percent to 42,478 while the wider All-share index lost 0.98 percent to 48,468. AngloGold Ashanti zipped up 5.65 percent and has risen about 17 percent over the last six sessions on the back of a higher gold price.
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