An index of South African ADRs fell in afternoon trading Friday as the broader markets reeled after disappointing earnings from General Electric Co., though some of that nation's shares pertaining to gold and commodities rose.
The Bank of New York South Africa ADR Index shed 0.17 points to 448.57. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.
Harmony Gold Mining Co. Ltd. posted the largest gain, adding 18 cents to $11.43. The company was the second-most heavily traded share on the index.
South Africa is one the world's largest miners of gold and diamonds, two resources that have become increasingly important as technology _ which uses them both heavily _ advances.
On the New York Mercantile Exchange Friday, Gold for June delivery fell $4.80 to close at $927 an ounce.
Shares of miner AngloGold Ashanti Ltd. rose 37 cents to $37.09, and shares of Sasol Ltd., an oil and gas producer, gained 9 cents to $53.42.
Gold Fields Ltd. traded the most heavily in afternoon trading, but fell 10 cents to $14.41.
Shares of DRDGOLD Ltd. shed the most, down 48 cents, or 5 percent, to $9.20, but its shares were sparsely traded.
The Bank of New York Emerging Markets ADR Index _ which includes shares of companies based in China, South Africa, Brazil and more _ lost 5.98 points to 350.04.
The Bank of New York Composite ADR Index dropped 2.42 points to 173.18 as the U.S. markets fell in afternoon trading.
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