Bidvest, Nedbank, Northam, Sun May Be Active: South African Equity Preview

The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close.

The FTSE/JSE Africa All Share Index snapped three days of losses, gaining 259.12, or 0.8 percent, to 31,965.59 at the 5 p.m. close in Johannesburg on Feb. 25, limiting last week’s loss to 1.7 percent.

African Rainbow Minerals Ltd. (ARI SJ): The company chaired by South Africa’s richest black businessman said earnings excluding one-time items for the six months ended Dec. 31 rose to 7.34 rand a share from 2.14 rand a year earlier. African Rainbow’s stock gained for the first day in eight, adding 2.1 percent, or 4.34 rand, to 211 rand.

Afrimat Ltd. (AFT SJ): The crushed stone and cement supplier will buy 5 million of its shares between March 1 and May 12 for no more than 17 million rand ($2.4 million). The stock lost 5 cents, or 1.5 percent, to 3.30 rand.

Bidvest Group Ltd. (BVT SJ): The diversified investment group with assets in financial services and auto dealerships said fiscal first-half net income increased 12 percent to 1.73 billion rand. The shares advanced the most since Feb. 2, gaining 2.1 percent, or 3.25 rand, to 157 rand.

Erbacon Investment Holdings Ltd. (ERB SJ): The civil engineering company said it “entered into preliminary negotiations relating to a possible acquisition,” which may affect its share price if successful. Erbacon shares fell 12 percent, or 15 rand, to 115 rand, the most since Nov. 26.

Gold One International Ltd. (GDO SJ): The South African gold miner reported production of 66,445 ounces of the metal in the year ended Dec. 31 from 17,040 ounces a year earlier. The share was unchanged at 2.45 rand.

Hulamin Ltd. (HLM SJ): Africa’s largest aluminum processor said annual earnings fell to 26 cents a share from 37 cents a year earlier. Hulamin slipped to its lowest since at least June 2007, falling 5 percent, or 40 cents, to 7.55 rand.

Nedbank Group Ltd. (NED SJ): The South African bank controlled by Old Mutual Plc announces first-half results. Nedbank advanced 2.2 percent, or 2.77 rand, 128.02 rand, its biggest gain in two weeks.

Northam Platinum Ltd. (NHM SJ): The operator of the world’s deepest platinum mine said fiscal first-half net income declined to 75.9 million rand from 215.6 million rand. Shares in the company gained for the first day in three, adding 0.8 percent, or 38 cents, to 49.38 rand.

Sun International Ltd. (SUI SJ): The hotel and leisure group releases first-half results. Sun gained for the first day in five, jumping 1.6 percent, or 1.50 rand, to 98 rand.

Telkom South Africa Ltd. (TKG SJ): South Africa’s Minister of Communication Roy Padayachie wants to entrench some of the government’s special shareholder rights in Africa’s largest fixed-line phone company after its entitlement to the so-called golden share expires at the end of March, Business Report, said citing the minister. The government is in discussions with the JSE Ltd., the stock exchange, to ensure this does not breach any listing requirements, the Johannesburg-based newspaper said. The stock added 50 cents, or 1.5 percent, to 35.01 rand.

The following shares and funds begin trading without the right to their latest dividend:

Aquarius Platinum Ltd. (AQP SJ), Cullinan Holdings Ltd. (CULP SJ), New Europe Property Investments Plc/Fund (NEP SJ), Palabora Mining Co. Ltd. (PAM SJ), Resilient Property Income Fund Ltd. (RES SJ).

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

Anglo American Plc (AAUKY US) jumped 3.8 percent to $26.61. AngloGold Ashanti Ltd. (AU US) added 0.5 percent to $48.50. BHP Billiton Ltd. (BBL US) rose 3.4 percent to $78.85. DRDGold Ltd. (DROOY US) gained 2.6 percent to $4.75. Gold Fields Ltd. (GFI US) advanced 2.1 percent to $17.63. Harmony Gold Mining Co. (HMY US) climbed 0.3 percent to $11.67. Impala Platinum Holdings (IMPUY US) gained 0.3 percent to $28.83. Sappi Ltd. (SPP US) rose 1.8 percent to $5.15. Sasol Ltd. (SSL US) added 1.7 percent to $55.13.

To contact the reporters on this story: Franz Wild in Johannesburg at fwild@bloomberg.net; Nicky Smith in Johannesburg at nsmith38@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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