South Africa Stocks Advance For First Day in Three, Led by Anglo, Billiton

South Africa’s FTSE/JSE Africa All Share Index climbed the most since Dec. 1, gaining 463.66, or 1.5 percent, to 32,162.15 at the 5 p.m. close in Johannesburg.

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

Afgri Ltd. (AFR SJ), the handler of about a third of South Africa’s grain, rose the most since Dec. 17, advancing 16 cents, or 2.2 percent, to 7.50 rand. South African antitrust authorities rejected a request by farmers to form an export pool to sell excess corn abroad in an effort to strengthen local prices after they produced the largest crop since 1982.

Anglo American Plc (AGL SJ), the diversified mining company that makes up 10 percent of South Africa’s benchmark stock index, rose for the second day, increasing 4.49 rand, or 1.3 percent, to 349.50 rand. Copper strengthened for the first time in four days in New York after Japan said it will buy bonds issued by Europe’s financial-aid funds, helping to ease concern about the fiscal health of nations including Ireland. Lead, nickel and zinc also increased.

BHP Billiton Plc (BIL SJ), the world’s largest mining company, snapped two days of losses, climbing 5.11 rand, or 2 percent, to 266.62 rand. BHP Billiton Plc was raised to “neutral” from “underweight” at JPMorgan Chase & Co.

Capital Shopping Centres Group Plc (CSO SJ), the U.K.’s largest shopping mall owner, dropped to the lowest in more than six weeks, falling 1.07 rand, or 2.6 percent, to 40.84 rand. Simon Property Group Inc., the largest U.S. shopping mall owner, said it abandoned its bid for the company.

Impala Platinum Holdings Ltd. (IMP SJ), the world’s second- largest producer of the metal, advanced the most since Dec. 2, adding 7.31 rand, or 3.2 percent, to 233.89 rand. Platinum increased for the fourth day, rising 0.9 percent to $1,757.5 an ounce. Anglo Platinum Ltd. (AMS SJ), the biggest producer, gained 16.55 rand, or 2.4 percent, to 706.55 rand.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.