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Aveng, Exxaro, Northam, Richemont May Move: South African Equities 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 gains, losing 315.31, or 1.1 percent, to 27,665.29 at the close in Johannesburg.
Anglo American Plc (AGL SJ): Copper fell for a second day after an unexpected decline in German factory orders signaled growth may be slowing in Europe’s biggest economy. Stock of Anglo, the diversified mining company that makes up almost 10 percent of South Africa’s benchmark stock index, declined 4.55 rand, or 1.6 percent, to 274.08 rand. Shares in larger rival BHP Billiton Plc (BIL SJ) dropped 3.23 rand, or 1.5 percent, to 207.56 rand.
Aveng Ltd. (AEG SJ): The construction company said profit for the year to end-June retreated 11 percent to 1.87 billion rand ($257 million), according to a stock exchange filing. The shares fell 49 cents, or 1.3 percent, to 37.50 rand.
Cie. Financiere Richemont SA (CFR SJ): The world’s largest jewelry maker reported a 37 percent increase in five-month revenue, according to a statement on its website today. That beat a median estimate for a 28 percent advance. Stock of Richemont, as the company is known, slipped 33 cents, or 1.1 percent, to 29.95 rand.
Exxaro Resources Ltd. (EXX SJ): The coal producer is scheduled to meet with the National Union of Mineworkers and the Commission for Conciliation, Mediation and Arbitration to resolve a pay strike. The company’s stock slumped 2.36 rand, or 2 percent, to 116.29 rand.
MTN Group Ltd. (MTN SJ): Africa’s biggest mobile-phone company will appeal before the Independent Communications Authority of South Africa’s Complaints and Compliance Committee following a disagreement with state-owned fixed-line operator Telkom South Africa Ltd. over interconnection fees. MTN fell 2 rand, or 1.6 percent, to 122.50 rand. Telkom (TKG SJ) declined 7 cents, or 0.2 percent, to 33.55 rand.
Northam Platinum Ltd. (NHM SJ): The producer of the precious metal is losing about 9 million rand per day in revenue due to a pay strike at its Zondereinde mine, where about 80 percent of the 6,800 permanent employees have downed tools. Northam stock rose for a fifth trading day, adding 71 cents, or 1.6 percent, to 44.39 rand.
Sasfin Holdings Ltd. (SFN SJ): The financial services company releases earnings. The company’s stock was unchanged at 37.20 rand.
Sasol Ltd. (SOL SJ): Oil declined for a third day, losing as much as 0.6 percent to $73.63 a barrel. Stock of Sasol, the world’s biggest maker of motor fuel from coal, fell 5.67 rand, or 2 percent, to 283.81 rand.
Shares or American depositary receipts of the following South African companies closed as follows:
Anglo American Plc (AAUKY US) declined 3.3 percent to $18.77. AngloGold Ashanti Ltd. (AU US) gained 1 percent to $44.39. BHP Billiton Ltd. (BBL US) fell 2.5 percent to $58.36. DRDGold Ltd. (DROOY US) fell 1 percent to $4.09. Gold Fields Ltd. (GFI US) added 0.9 percent to $14.78. Harmony Gold Mining Co. (HMY US) rose 1.9 percent to $10.82. Impala Platinum Holdings Co. (IMPUY US) slumped 4.4 percent to $24. Sappi Ltd. (SPP US) fell 4.4 percent to $4.74. Sasol Ltd. (SSL US) fell 2.1 percent to $38.98. Telkom South Africa Ltd. (TLKGY US) advanced 0.9 percent to $18.37.
To contact the reporter on this story: Garth Theunissen in Johannesburg gtheunissen@bloomberg.net
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