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South Africa Equities Advance, Led by Anglo American, BHP Billiton and MTN
South Africa’s FTSE/JSE Africa All Share Index rose 101.91, or 0.4 percent, to 27,942.89 in Johannesburg, bringing this week’s gain to 4.5 percent, the first increase in six.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AGL SJ), the third-largest producer of steelmaking coal, rallied 1.41 rand, or 0.5 percent, to 276.91 rand. The mining company is seeking an acquisition that may more than double existing output to meet rising demand from India and China.
BHP Billiton Ltd. (BIL SJ), the world’s largest mining company, climbed 2.26 rand, or 1.1 percent, to 214.17 rand. BHP would get Canadian approval for its $40 billion hostile bid for Potash Corp. of Saskatchewan Inc. by pledging to preserve head- office jobs and support a fertilizer-marketing company, lawyers specializing in foreign investment and a former Canadian minister said.
Cipla Medpro South Africa Ltd. (CMP SJ), which markets prescription medicines, fell 5 cents, or 0.8 percent, to 6.51 rand, snapping three days of gains. Indian drugmaker Cipla Ltd.’s board is considering a proposal to buy a 25 percent stake in the African company’s manufacturing unit, Chief Financial Officer S. Radhakrishnan said by telephone today.
Gold Fields Ltd. (GFI SJ), Africa’s second-largest producer of the metal, dropped 83 cents, or 0.8 percent, to 104.05 rand, taking its retreat in the week to 0.1 percent, the first since the second-last week in July. Gold prices fell the most in two weeks after a rally in equities reduced demand for the precious metal as a haven.
MTN Group Ltd. (MTN SJ), Africa’s largest mobile-network operator, gained 2.50 rand, or 1 percent, to 124.75 rand. MTN will be able to list shares in Nigeria, said Arunma Oteh, director general of the West African nation’s securities regulator.
To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net
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