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Johannesburg - South African stocks fell for the first time in four sessions on Monday as investors globally sold off risky assets on the rising threat of war between Ukraine and Russia.
But shares of bullion producers such as AngloGold Ashanti and Sibanye Gold rose as the tensions in eastern Europe put the precious metal's safe-haven status firmly back on the radar screen of investors.
Gold's spot price gained around 1.5%.
"The jitters are around what is happening in Ukraine. We are seeing a bit of a risk off on the market as a result of that," said Martin Lentsoane, managing director at brokerage Lehumo Capital.
"The only ones benefiting are oil and gold."
The blue-chip index fell 0.45% to close at 42 577.64 while the broader All-share index shed 0.4% to end the session at 47 138.32.
Among the decliners was e-commerce and media group Naspers, which has stakes in companies in Russia and Ukraine, and fell 2.22% to R1 270.00. Banking group Nedbank lost 2.83% to end at 205.03 rand.
On the other hand, AngloGold rose 4.11% to R198.38 while Sibanye added almost 5% to R22.74 as they rode the wave of the "war commodity's" reputation as a safe bet for investors when geopolitical sabres are rattling.
But shares of bullion producers such as AngloGold Ashanti and Sibanye Gold rose as the tensions in eastern Europe put the precious metal's safe-haven status firmly back on the radar screen of investors.
Gold's spot price gained around 1.5%.
"The jitters are around what is happening in Ukraine. We are seeing a bit of a risk off on the market as a result of that," said Martin Lentsoane, managing director at brokerage Lehumo Capital.
"The only ones benefiting are oil and gold."
The blue-chip index fell 0.45% to close at 42 577.64 while the broader All-share index shed 0.4% to end the session at 47 138.32.
Among the decliners was e-commerce and media group Naspers, which has stakes in companies in Russia and Ukraine, and fell 2.22% to R1 270.00. Banking group Nedbank lost 2.83% to end at 205.03 rand.
On the other hand, AngloGold rose 4.11% to R198.38 while Sibanye added almost 5% to R22.74 as they rode the wave of the "war commodity's" reputation as a safe bet for investors when geopolitical sabres are rattling.
