S.African stocks fall on miners, Kap Intl jumps
South African stocks ended slightly lower on Tuesday with miners among the worst performers as growth worries in China hit industrial metal prices.
But industrial firm Kap International surged on news that furniture group Steinhoff plans to swap several industrial assets for a greater stake in the Cape Town-based company.
Kap rallied 10 percent to 2.42 rand while Steinhoff gave up 0.79 percent to 22.44 rand.
Overall, miners weighed on the JSE Top-40 blue-chip index which was down 0.13 percent to 27,762.88. The broader All-share index fell by the same margin to 31,054.2.
We saw a bit of weakness throughout the session after China's disappointing GDP numbers, said Xoli Mokoena, a trader at Global Trader.
China's growth slowed in the third quarter to its weakest pace since early 2009
Kumba Iron Ore fell 2.54 percent to 460 rand, African Rainbow Minerals lost 2.48 percent to 176.20 rand and Lonmin was down 2.22 percent to 132 rand.
Elsewhere, Freeworld Coatings surged 20.9 percent to 11.50 rand after the paint firm's majority shareholder Japan's Kansai Paint said it plans to buy the remaining shares.
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