Stocks in South Africa Advance 1.2% in Week, Led by Anglo American, Impala
Stock Chart for Anglo American PLC (AAL)
South Africa’s FTSE/JSE Africa All Share Index fell 51.37, or 0.2 percent, to 28,413.56 by the close at 5 p.m. in Johannesburg, paring its gain this week to 1.2 percent.
The following were among the most active stocks in the South African market today.
Anglo American Plc (AGL SJ), the diversified mining company that makes up almost 10 percent of the benchmark index, increased the most in four days, rising 2.05 rand, or 0.7 percent, to 282.55 rand. Copper advanced as much as 1.4 percent to $7,810 a metric ton on the London Metal Exchange. Nickel, tin and zinc also rose.
Impala Platinum Holdings Ltd. (IMP SJ), the world’s second- largest producer of the metal, rose to the highest level in more than two weeks, adding 3.10 rand, or 1.7 percent, to 182.65 rand. The company announced it paid dividends out at a rate of 11.0871 rand to the British pound. Platinum gained for the fifth consecutive day, rising as much as 1.2 percent to $1,631.50.
Investec Ltd. (INL SJ) dropped the most since Aug. 3, falling 2.13 rand, or 3.7 percent, to 55.27 rand. The investment bank and wealth manager’s recommendation was reduced to “add” from “buy” at Numis Securities. Investec yesterday said first- half operating earnings per share will be lower last year.
Spur Corp Ltd. (SUR SJ), a restaurant franchise, fell the most since Sept. 1, losing 15 cents, or 1.1 percent, to 13 rand. The company expects “continued pressure” on franchisee profitability form increased electricity, rates, taxes and property costs, according to a company presentation.
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