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Anglo American, Kumba and Investec: South African Equity Market 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 snapped two days of losses, rising 182.81, or 0.6 percent, to 28,550.07 by the close in Johannesburg.
Absa Group Ltd. (ASA SJ): South Africa’s third-largest bank by assets said first-half earnings per share excluding one-time items fell as much as 5 percent. Absa gained 1.07 rand, or 0.8 percent, to 138.85 rand.
Anglo American Plc (AGL SJ): The global mining and natural resources company said first-half profit doubled and it resumed dividend payments. Anglo climbed 4.03 rand, or 1.4 percent, to 295.80 rand.
AngloGold Ltd. (ANG SJ): The third-largest producer of the metal was rated new “hold” by Citigroup Global Markets. AngloGold is Citi’s preferred pick in the South African gold sector, it said. Shares in Africa’s largest producer of the precious metal fell 62 cents, or 0.2 percent, to 291 rand.
Gold Fields Ltd. (GFI SJ): Africa’s second-largest gold producer was rated new “sell” by Citigroup Global Markets. The company’s 26 billion rand ($3.5 billion), three-year capital expenditure budget is “unlikely to result in any significant net growth,” Citi said. Shares in Gold Fields added 50 cents, or 0.5 percent, to 96.80 rand.
Harmony Gold Mining Co. (HAR SJ): Africa’s third-largest producer of the metal was rated a new “sell” by Citigroup Global Markets. Harmony’s high-cost assets and concentration of mines in South Africa position the company poorly for longer term value creation, Citi said. Shares in Harmony gained 48 cents, or 0.7 percent, to 72.38 rand.
Kumba Iron Ore Ltd. (KIO SJ): The unit of Anglo American Plc continues talks with the National Union of Mineworkers over a pay dispute. The Pretoria-based company’s shares gained 2.65 rand, or 0.7 percent, to 367 rand.
Investec Ltd. (INL SJ): The private bank and wealth manager is scheduled to release its interim management update. The Johannesburg-based company’s shares added 1.71 rand, or 2.9 percent, to 61 rand.
Shares or American depositary receipts of the following South African companies closed as follows:
Anglo American Plc (AAUKY US) rose 0.1 percent to $19.67. AngloGold Ashanti Ltd. (AU US) dropped 0.3 percent to $39.58. BHP Billiton Ltd. (BBL US) added 0.1 percent to $61.63. DRDGold Ltd. (DROOY US) fell 0.3 percent to $4.06. Gold Fields Ltd. (GFI US) retreated 0.3 percent to $13.05. Harmony Gold Mining Co. (HMY US) advanced 0.2 percent to $9.74. Impala Platinum Holdings (IMPUY US) climbed 0.6 percent to $26.56. Sappi Ltd. (SPP US) fell 1.5 percent to $4.72. Sasol Ltd. (SSL US) climbed 0.6 percent to $39.69.
To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net; Nicky Smith in Johannesburg at nsmith38@bloomberg.net
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