IRON ORE PRODUCERS WEIGH ON BOURSE

African Rainbow Minerals tumbled 10.7 percent to R85, Assore dropped 9.4 percent to R221 and Kumba Iron Ore was down 8.89 percent to close at R170.04.
Nedbank, the largest investor in Nigeria’s Ecobank, weakened 3.45 percent to R224.56 after it flagged the pan-African lender’s fourth-quarter losses. Ecobank reported a loss for 2016 blaming a recession in Nigeria and a strong US dollar.
Aspen Pharmacare, Africa’s largest generic drugmaker, dropped 4.14 percent to R268.50 after a report in Britain’s Times newspaper accused the firm of withholding drugs to try to drive up prices in European markets.
Aspen declined to comment on specific allegations because it could be in breach of sub-judice laws that apply to matters that are the subject of legal processes.
Source: iol.co.za

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