Stocks in South Africa Climb, Led by Richemont, Metorex, Village Main Reef

South Africa’s FTSE/JSE Africa All Share Index gained for a second day, rising 37.7, or 0.1 percent, to 27,980.60 in Johannesburg.

The following were among the most active stocks in the South African market today.

Amalgamated Appliance Holdings Ltd. (AMA SJ), a household appliances manufacturer and importer, gained 3 cents, or 1.6 percent, to 1.86 rand, the highest closing level in a month. The company posted net income of 38.5 million rand ($5.3 million) in the fiscal year through June compared with a year-earlier loss of 69 million rand.

AVI Ltd. (AVI SJ), a food and cosmetics producer, rose to the highest in at least 20 years, adding 70 cents, or 2.8 percent, to 26 rand. AVI said it will make a special payment of 75 cents a share to investors because of the company’s “strong cash generation.”

Cie. Financiere Richemont SA (CFR SJ), the world’s biggest jewelry maker, rallied to the highest in at least 20 years, gaining 64 cents, or 2.2 percent, to 30.28 rand. Exane BNP Paribas lifted its recommendation to “outperform” from “neutral,” citing a “strong net cash position” and saying that “operating leverage should play out positively on the back of double-digit sales growth in the medium term.”

Metorex Ltd. (MTX SJ), a copper miner, advanced to the highest since Aug. 11, adding 4 cents, or 1.1 percent, to 3.64 rand. Metorex agreed to sell its Cons Murch Mine Ltd. operations to Point Growth Specialists Ltd.

Trans Hex Group Ltd. (TSX SJ) had its biggest drop in almost 18 months, losing 50 cents, or 13 percent, to 3.40 rand. Remgro Ltd. spun off its stake in the diamond producer.

Village Main Reef Gold Mining Co. (VIL SJ), a mining investment company, gained the most since Aug. 18, climbing 10 cents, or 4.8 percent, to 2.20 rand. Village entered discussions that could affect its share prices, the company said.

To contact the reporters on this story: Carli Lourens in Johannesburg at clourens@bloomberg.net;

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