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Absa, AECI, ArcelorMittal SA, Kumba May Move: South African Stock Preview
The following is a list of companies whose shares may have unusual price changes in South Africa. Stock symbols are in parentheses after company names and prices are from the last close.
South Africa’s FTSE/JSE Africa All Share Index fell for the first time in six days, losing 37.52, or 0.1 percent, to 28,461.48 at the close in Johannesburg. Trading closed one hour late at 6 p.m. local time following a six-hour stoppage that resulted from technical problems.
Absa Group Ltd. (ASA SJ): Statistics South Africa publishes its June inflation data, giving an indication of whether the central bank may have room to lower its 6.5 percent benchmark interest rate. Barclays Plc-owned Absa, South Africa’s largest retail bank, fell 1.40 rand, or 1 percent, to 138.60 rand. Standard Bank Group Ltd. (SBK SJ): Africa’s biggest lender was unchanged at 117 rand.
AECI Ltd. (AFE SJ): The explosives and chemicals company releases annual earnings. The Johannesburg-based company’s stock rose 30 cents, or 0.4 percent, to 68.63 rand.
ArcelorMittal South Africa Ltd. (ACL SJ): The unit of the world’s largest steel producer releases first-half earnings. The Vanderbijlpark-based company rose 40 cents, or 0.5 percent, to 84.50 rand.
Kumba Iron Ore Ltd. (KIO SJ): The unit of Anglo American Plc will meet the National Union of Mineworkers to discuss a pay dispute. Kumba’s stock rose 2 rand, or 0.5 percent, to 370 rand. Anglo American Plc (AGL SJ): The diversified mining company that makes up almost 10 percent of South Africa’s benchmark stock index rose 1.50 rand, or 0.5 percent, to 290 rand.
Telkom South Africa Ltd. (TKG SJ): Africa’s largest fixed- line phone company’s acting Chief Executive Officer hosts a breakfast in Johannesburg. Telkom’s stock was unchanged at 33.50 rand.
To contact the reporter on this story: Garth Theunissen in Johannesburg gtheunissen@bloomberg.net
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