South African Equities: Shoprite, Avusa, Woolworths, Harmony Are Active

South Africa’s FTSE/JSE Africa All Share Index rose for a second day, climbing 73.79, or 0.3, to 27,984.93 by the close at 5 p.m. in Johannesburg.

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

Avusa Ltd. (AVU SJ), a media company, jumped by the most since Aug. 2, adding 75 cents, or 3.7 percent, to 20.95 rand. Avusa withdrew a cautionary notice on the stock after concluding an agreement to acquire Universal Print Group Ltd. and Hirt & Carter Ltd.

Harmony Gold Mining Ltd. (HAR SJ), Africa’s third-biggest producer of the metal, had its biggest increase in three days, while rivals AngloGold Ashanti Ltd. and Gold Fields Ltd. declined. Harmony advanced 96 cents, or 1.2 percent, to 78.80 rand. The company’s stock recommendation was raised to “overweight” from “neutral” at JPMorgan Chase & Co. by equity analyst Steve Shepherd, with a 12-month price estimate of 102 rand per share.

Purple Capital Ltd. (PPE SJ), an investment company, rose 3 cents, or 20 percent, to 18 cents, the biggest gain in 18 months. Purple said it will acquire 75 percent of WIP Treasury Solutions Ltd., which provides treasury management services.

Shoprite Holdings Ltd. (SHP SJ), South Africa’s largest retailer, had its biggest advance in more than two weeks, increasing 2.88 rand, or 3.1 percent, to 95.99 rand. Central Bank Governor Gill Marcus announced a 50 basis-point reduction of the benchmark interest rate to boost the economy.

Woolworths Holdings Ltd. (WHL SJ), a food and clothing retailer, had its first gain in four days, adding 40 cents, or 1.6 percent, to 25.10 rand.

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

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