South African Stocks: Afrox, Anglo, AngloGold, BHP, Standard

South Africa’s FTSE/JSE Africa All Share Index rose 42.24, or 0.1 percent, to 31,560.07 at the 5 p.m. in Johannesburg.

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

Africa Oxygen Ltd. (AFX SJ), the largest producer of industrial gases, lost 55 cents, or 2.6 percent, to 20.45 rand, a third day of decreases. The company said it expected earnings excluding one-time items to be as much as 30 percent lower in the year through December.

Anglo American Plc (AGL SJ), which makes up about 10 percent of South Africa’s benchmark stock index, gained 8.20 rand, or 2.5 percent, to 335.80 rand. The mining company said shipments from its Collahuasi mine in Chile aren’t being affected by a wage strike. Copper surged to a record in London after China’s inflation accelerated at the highest pace in two years, prompting investors to buy commodities as a hedge against rising prices.

AngloGold Ashanti Ltd. (ANG SJ), the world’s third-largest producer of gold, surged 7.13 rand, or 2 percent, to 357 rand. The company posted net income of 443 million rand ($64.4 million) for the three months through September, compared with a loss of 1.36 billion rand in the previous quarter.

BHP Billiton Plc (BIL SJ), the world’s largest mining company, rose 1.76 rand, or 0.7 percent, to 267.36 rand. The company may seek to acquire oil and gas producer Woodside Petroleum Ltd. if its $40 billion bid for Potash Corp. of Saskatchewan Inc. fails, Morgan Stanley said.

Metropolitan Holdings Ltd. (MET SJ), the insurer merging with Momentum Group, declined 35 cents, or 2 percent, to 17.05 rand, the biggest drop since Sept. 17. Annual premium-equivalent sales for the nine months ended September dropped 9 percent, the company said in a regulatory filing.

Standard Bank Group Ltd. (SBK SJ), South Africa’s biggest lender, declined for a second day, losing 1.84 rand, or 1.8 percent, to 103.21 rand. Renaissance BJM placed a “sell” recommendation on the bank, with a 12-month price estimate of 89.26 rand. Separately, the lender is drafting a letter proposing to extend consultations with labor union Sasbo over job cuts, Tim Brandis, its lawyer, said in the Johannesburg Labor Court today. Standard Bank’s consultation process with its main labor union over job cuts was a “sham,” union lawyer Chris Roodt told the court.

Sun International Ltd. (SUI SJ) advanced for an eighth consecutive day, gaining 1 rand, or 1 percent, to 104.50 rand. South Africa’s largest gaming company said it will spend 2.2 billion rand on expanding and refurbishing its facilities.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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