South African stocks extended losses into a third straight session on Friday, weighed down by bullion producers such as AngloGold Ashanti and Sibanye Gold, which continued to struggle with worries about labour strife. Retailers also took a hit, with discounter Massmart clocking its lowest close in nine months, after poor results from clothing store Truworths earlier in the week continued to spark worries about weakening consumer demand.
Investors are concerned about the on-going wage dispute in South Africa between unions and gold producers, fearing it could lead to labour unrest. The benchmark Top-40 index fell 0.6 percent to 36,026.19, while the broader All-Share index was down 0.59 percent to 40,497.81. AngloGold Ashanti, Africa's biggest bullion producer, fell 4.2 percent to 131.29 rand, the biggest decliner on the Top-40. Smaller rival Sibanye Gold skidded 6.64 percent to 8.15 rand, the biggest decliner on the All-Share.
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