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Absa, African Bank, Coronation, Investec: South African Stocks Preview

The following is a list of companies whose shares may have unusual price changes in South Africa. Stock symbols are in parentheses after company names and prices are from the last close.

South Africa’s FTSE/JSE Africa All Share Index rose to the highest level since May 2008, climbing 139.73, or 0.4 percent, to 33,094.06 in Johannesburg.

Absa Group Ltd. (ASA SJ): South Africa’s largest retail bank said full-year net income increased 19 percent to 8.12 billion rand ($1.1 billion). The shares fell 2.50 rand, or 1.9 percent, to 131.25 rand.

African Bank Investments Ltd. (ABL SJ): The financial services company was rated new “overweight” at Barclays Capital by equity analyst Richard Ladbrook, who set a one-year target price of 40.59 rand per share. African Bank gained 30 cents, or 0.8 percent, to 36.49 rand.

Astral Foods Ltd. (ARL SJ): South Africa’s second-largest chicken producer addresses the media about its views on the industry. The stock increased 74 cents, or 0.6 percent, to 127 rand.

Comair Ltd. (COM SJ): The airline operator releases first- half earnings for the period through December. The company said it expected the earnings to be about 10 cents a share, which represents an increase of as much as 28 percent compared with the same period a year earlier. Comair declined 3 cents, or 1.3 percent, to 2.36 rand.

Coronation Fund Managers Ltd. (CML SJ): The asset management company was rated new “equal weight” at Barclays Capital by Ladbrook, who set a target price of 18.03 rand. Coronation added 29 cents, or 1.7 percent, to 16.99 rand.

Investec Ltd. (INL SJ): The private bank and wealth manager was rated new “underweight” by Barclays Capital’s Ladbrook with a target price of 57.02 rand. Investec fell 38 cents, or 0.7 percent, to 55 rand.

Nictus Ltd. (NCS SJ): The seller of vehicles and furniture in South Africa and Namibia said it has received the Namibian Competition Commission’s approval for the acquisition of a General Motors dealership for 7.1 million rand. The shares were unchanged at 1.10 rand.

Tiger Brands Ltd. (TBS SJ): The country’s largest food company holds an annual shareholders’ meeting. The stock gained 87 cents, or 0.5 percent, to 182.87 rand.

Shares or American depositary receipts of the following South African companies closed as follows:

Anglo American Plc (AAUKY US) rose 0.4 percent to $27.48. AngloGold Ashanti Ltd. (AU US) gained 0.7 percent to $45.07. BHP Billiton Plc (BBL US) climbed 1.7 percent to $82.11. DRDGold Ltd. (DROOY US) lost 0.2 percent to $4.59. Gold Fields Ltd. (GFI US) jumped 0.2 percent to $15.87. Harmony Gold Mining Co. (HMY US) added 0.9 percent to $10.74. Impala Platinum Holdings (IMPUY US) dropped 2.6 percent to $29.36. Sappi Ltd. (SPP US) rose 0.2 percent to $5.20. Sasol Ltd. (SSL US) declined 1 percent to $51.92.

To contact the reporters on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

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

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