Exxaro Resources, IPSA, Liberty and Massmart: South African Equity 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 dropped the most since Jan. 28, falling 512.13, or 1.6 percent, to 31,932.07 at the 5 p.m. close in Johannesburg.
Exxaro Resources Ltd. (EXX SJ): The South African coal- mining company releases earnings results for the year ended December. The company said on Feb. 17 that earnings a share excluding one-time items rose 91 percent to 110 percent to between 13.90 and 15.32 rand. The share fell 2.11 rand, or 1.4 percent, to 151 rand.
Fortress Income Fund Ltd. (FFA SJ): The property portfolio investor said first-half income through December dropped to 23.7 million rand ($3.3 million), from 148.9 million rand a year earlier. The stock was unchanged at 11.10 rand.
IPSA Plc (IPS SJ): The London-based builder of power stations in southern Africa said it signed a new gas supply contract with Spring Lights Gas (Pty) Ltd. for its Newcastle Cogeneration subsidiary. The contract is conditional upon IPSA giving notice of commencement of supply within 60 days. The stock climbed 19 cents, or 27 percent, to 89 cents.
Liberty Holdings Ltd. (LBH SJ): The insurer owned by Standard Bank Group Ltd., South Africa’s largest lender, publishes earnings results for the year through December. Liberty Holdings declined 2.10 rand, or 2.7 percent, to 75.40 rand.
Massmart Holdings Ltd. (MSM SJ): South Africa’s largest food and general goods retailer publishes first-half earnings for the period through December. Shares in Massmart retreated 1.51 rand, or 1 percent, to 144.99 rand.
Pinnacle Point Group Ltd. (PNG SJ): The property and golf- resorts developer said hearings on a liquidation application brought to the Cape High Court against the company’s subsidiaries by Investec Bank Ltd. have been postponed to June by mutual agreement. Pinnacle dropped 50 percent, or 1 cent, to 1 cent.
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