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South African Stocks: Adcock, Aspen, Lonmin, Metorex, Pioneer

South Africa’s FTSE/JSE Africa All Share Index advanced for the second day, climbing 101.46, or 0.3 percent, to 31,666.64 at the 5 p.m. close in Johannesburg.

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

Adcock Ingram Holdings Ltd. (AIP SJ), South Africa’s second-largest pharmaceutical company, dropped for a third day, sliding 2.68 rand, or 4.4 percent, to 58.99 rand. The drug manufacturer said it won 4 percent of a 4.16 billion rand ($609 million) government tender for anti-AIDS drugs, less than what it was awarded previously.

Aspen Pharmacare Holdings Ltd. (APN SJ), the largest maker of generic medicines in the Southern Hemisphere, gained for the first time in four days, adding 2 rand, or 2.2 percent, to 94.5 rand. Aspen said it was awarded 40 percent of a South African government tender for the supply of AIDS drugs. Cipla Medpro South Africa Ltd. (CMP SJ), a generic drugs maker, advanced 19 cents, or 2.7 percent, to 7.18 rand. Cipla was awarded contracts estimated at 633 million rand.

Clover Industries Ltd. (CLR SJ), South Africa’s biggest dairy company, climbed to 10.9 rand on its debut on the Johannesburg bourse. Clover listed after raising 575 million rand in an over-subscribed share sale.

Lonmin Plc (LON SJ), the world’s third-largest platinum producer, declined for the second in three days, losing 2.10 rand, or 1 percent, to 200.89 rand. The company failed to reach a wage agreement with South Africa’s National Union of Mineworkers after meeting with the Commission for Conciliation, Mediation and Arbitration yesterday, the union said.

Metorex Ltd. (MTX SJ), the company that mines copper and cobalt in Africa, advanced for the second day, adding 14 cents, or 2.8 percent, to 5.12 rand, the highest close since January. Metorex was raised to “neutral” from “sell” at UBS.

Pioneer Food Group Ltd. (PFG SJ), a food producer, increased for the second day, gaining 72 cents, or 1.3 percent, to 55.72 rand, the highest since Dec. 8. The company said it started to implement a Competition Commission ruling to reduce the price of bread and wheat flour, and was paying down its cash fine.

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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