AngloGold Ashanti said a wildcat strike had spread to the majority of its 35 000 workers. (SABC)
Shares prices of JSE-listed gold mines have declined by around 3% after AngloGold Ashanti said a wildcat strike had spread to the majority of its 35 000 workers.
The world’s number three bullion producer says workers have embarked on an unprotected strike, but have not said what the current demands are. South Africa accouned for about 32 % of the group’s global output of just over a million ounces of gold in the first half of this year.
At Gold Fields, the world’s fourth largest bullion producer, says workers have reneged on a deal to end a two-week strike at its KDC West operation. It says miners at its Beatrix mine have also downed tools.
Violent protests by the Spanish and Greek public against austerity measures caused European shares to fall. In London, the FTSE 100 closed 1-point-5-7% lower at 5 768. In Paris, the CAC 40 was 2.81 % weaker at 3 415, while Frankfurt’s DAX closed 1.99 % down at 7 277.
Asian shares rebounded this morning, but sentiment was vulnerable due to uncertainty over a bail-out for Spain.
On the capital market the yield on the R157 government bond ended at 5.29%.
US and European markets
The Dow Jones finished 0.32 %weaker at 13 414; the Nasdaq declined by 0.76 % to 3 094; and the SP 500 lost 0.6 %to 1 433.
Asian markets
Asian shares rebounded this morning but sentiment was vulnerable due to uncertainty over a bail-out for Spain and signs of Europe struggling to find a unified approach to tackling its debt crisis as global lenders wrangled over Greek restructuring.
In Tokyo, the Nikkei is trading 0.1 % lower this morning at 8 889, and in Hong Kong, the Hang Seng is 0.5 % firmer so far at 20 622.
In Australia, the All Ordinaries Share index is trading 0.2 % higher at 4 391.
Platinum is trading at $1 627.52/oz and the Brent crude oil is trading at $110.13-cents a barrel.