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Anglo, Evraz Highveld: South African Equity Preview (Correct)
(Corrects to remove reference to Mr Price, which held its annual general meeting yesterday.)
The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close.
The FTSE/JSE Africa All Share Index rose 402.61 or 1.5 percent, to 26,873.08 in Johannesburg.
Anglo American Plc (AGL SJ): The diversified mining company is challenging South Africa’s Department of Mineral Resources in court over the award of some coal mining rights in the country, according to company spokesman Pranill Ramchander. Shares in Anglo rose 7.23 rand, or 2.8 percent, to 262.25 rand.
BHP Billiton Ltd. (BIL SJ): The world’s largest mining company’s $39 billion takeover bid for Potash Corp. of Saskatchewan faces an obstacle in the shape of Canpotex, the pricing and marketing cartel created by Potash Corp., Mosaic Co. and Agrium Inc. almost 40 years ago, the Financial Times reported. BHP climbed 4.28 rand, or 2.1 percent, to 204.78 rand.
Dimension Data Plc (DDT SJ): The computer services company that has been in talks about a $3.26 billion takeover by Nippon Telegraph & Telephone Corp. received approval from the South African Reserve Bank for the transaction, the companies said. Didata added 9 cents, or 0.7 percent, to 13.71 rand.
DRDGold Ltd. (DRD SJ): The gold producer plans to spend 300 million rand ($41 million) building a 50 kilometer (31 mile) pipeline near Johannesburg to allow it to transport mine waste to a reprocessing site, Business Day reported, citing Chief Executive Officer Niel Pretorius. DRD shares gained 2 cents, or 0.7 percent, to 3.02 rand.
Evraz Highveld Steel and Vanadium Ltd. (EHS SJ): The steelmaker posted an operating loss of 255 million rand for the six months through June, compared with a profit of 65 million rand a year earlier. Shares in the company fell 10 cents, or 0.1 percent, to 80.90 rand.
Exxaro Resources Ltd. (EXX SJ): The mining company said production from the smelter at its Hillendale sands operation in South Africa is continuing amid a pay strike by workers. Shares in Exxaro rose 3.05 rand, or 2.8 percent, to 111 rand.
Naspers Ltd. (NPN SJ): Africa’s largest media company has made a strategic investment in OLX, the online classifieds company, TechCruch reported, citing OLX’s founders Alec Oxenford and Fabrice Grinda.
Naspers will also hold its annual general meeting. Shares in the company rose 10.30 rand, or 3.6 percent, to 294.40 rand.
Sun International Ltd. (SUI SJ): The hotel and casino group posted net income of 513 million rand for the 12 months through June, 2.4 percent higher than a year earlier, and said it’s resuming dividend payments. Shares in the company were unchanged at 85 rand.
Shares or American depositary receipts of the following South African companies closed as follows:
Anglo American Plc (AAUKY US) rose 0.9 percent to $17.68. AngloGold Ashanti Ltd. (AU US) gained less than 0.1 percent to $42.84. BHP Billiton Ltd. (BBL US) increased 0.1 percent to $55.34. DRDGold Ltd. (DROOY US) rose 0.2 percent to $4.10. Gold Fields Ltd. (GFI US) climbed 1.9 percent to $14.27. Harmony Gold Mining Co. (HMY US) gained 0.3 percent to $10.34. Impala Platinum Holdings Co. (IMPUY US) rose 0.5 percent to $23.80. Sappi Ltd. (SPP US) fell 2 percent to $4.40. Sasol Ltd. (SSL US) declined 0.6 percent to $37.56.
To contact the reporter on this story: Nicky Smith in Johannesburg at nsmith38@bloomberg.net
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