* Sibanye Gold down more than 6 pct
* Rand seeking direction in quiet week
(Adds closing prices, detail, analyst comment)
JOHANNESBURG, April 19 South Africa's Sibanye
Gold led the bourse lower on Wednesday as it prepared to raise
cash to fund an acquisition in the U.S. as well as a weaker
The benchmark Top-40 index closed 0.22 percent down
at 45,771 points, while the broader All-share index
lost 0.24 percent to 52,545 points.
Sibanye Gold fell 6.33 percent to 31.20 rand as
bullion fell 1 percent on Wednesday.
"Sibanye is falling more than the other gold shares because
it also needs to raise a lot of debt currently," BP Bernstein
trader Vasili Tirasis said.
Sibanye plans to tap shareholders for about $1 billion to
partly fund a takeover of U.S.-based Stillwater Mining Co
and raise a further $1 billion in debt, most likely in
the bond market, to fund the transaction.
Shares in Pick n Pay were down 4.40 percent at
61.69 rand, compared with a 1.1 percent drop in the Johannesburg
Securities Exchange's general retailers index.
Pick n Pay reported slower sales and profit growth in its
full-year results on Wednesday, sending the retailer's shares
lower despite an 18 percent rise in earnings.
On the foreign exchange market, the rand was little
changed 0.11 percent to 13.3100 per dollar by 1612 GMT.
"There's not a lot going on in the market at the moment.
There are no headlines for the rand to take any certain
direction," said TreasuryOne currency dealer Andre Botha.
The dollar crept higher on Wednesday, a day after
dropping to a three-week low against a basket of major
currencies amid a repricing of expectations of the United States
Federal Reserve rate increases and concerns about President
Donald Trump's ability to deliver a promised fiscal boost.
In fixed income, the yield for the benchmark government bond
due in 2026 fell 4 basis points to 8.790 percent.
(Reporting by Olwethu Boso; Editing by Nqobile Dludla/James