U.S. Initial Jobless Claims Rose 10,000 Last Week to 379,000
South African Stocks Gain for Third Day, Led by Anglo American, Pioneer
South Africa’s FTSE/JSE Africa All Share Index advanced for a third day, adding 35.63, or 0.1 percent, to 31,180.81 at 4:01 p.m. in Johannesburg.
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 South Africa’s benchmark stock index, rose 4 rand, or 1.3 percent, to 324 rand. Copper rose on the London Metal Exchange, headed for the first weekly advance in four.
Impala Platinum Holdings Ltd. (IMP SJ), the world’s second- largest producer of the metal, advanced for a third day, climbing 3.51 rand, or 1.6 percent, to 221.99 rand. Platinum advanced for a fourth day, rising as much as 0.9 percent.
FirstRand Ltd. (FSR SJ), South Africa’s second-biggest financial-services company, gained 7 cents, or 0.3 percent, to 20.51 rand. The company said first-half profit will increase by at least 20 percent.
Pioneer Food Group Ltd. (PFG SJ), a producer of cereals and juices, rose 50 cents, or 1 percent, to 49.25 rand, the highest in more than a week. The company said it offered 12 rand a share, or 827.8 million rand ($120 million), for liquor company KWV Holdings Ltd.
Standard Bank Group Ltd. (SBK SJ), Africa’s largest lender, fell 81 cents, or 0.8 percent, to 101.07 rand. The stock was cut to “sell” from “neutral” by analysts at UBS AG.