Bidvest, Grand Parade, RMB May Move: South African Equity Market Preview

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

South Africa’s FTSE/JSE Africa All Share Index snapped two days of losses, gaining 377.03, or 1.2 percent, to 32,350.12 at the 5 p.m. close in Johannesburg.

Bidvest Group Ltd. (BVT) : The diversified investment group said today it anticipates a positive impact on earnings excluding one-time items of between 300 million rand ($43.3 million) and 400 million rand from the sale of half of its economic interest in Mumbai International Airport Pvt Ltd. The share fell 77 cents, or 0.5 percent, to 154.13 rand.

Grand Parade Investments Ltd. (GPL) : The investment company with interests in tourism and gambling releases earnings, which it said on March 1 will likely be between 30 percent and 50 percent higher in the first half through December, compared with the same period a year earlier. The stock jumped 10 cents, or 3.6 percent, to 2.90 rand.

RMB Holdings Ltd. (RMH) : Today is the last day to trade in the company’s shares on the JSE in order to participate in the unbundling of its interest in RMI Holdings, before the latter is listed on the exchange. RMB fell 34 cents, or 0.9 percent, to 37.50 rand.

Sallies Ltd. (SAL) : The fluorspar producer said its loss for the first half through December widened to 33.8 million rand, from 27.6 million rand a year earlier. Sallies said it doesn’t expect that sales of sufficient magnitude will be achieved during the remainder of the current fiscal year to eliminate the losses made to Dec. 31.

The company has adequate cash resources to meet its commitments “until at least the end of 2011,” Sallies said. The company also renewed a cautionary notice, saying a previously announced transaction remains conditional. The stock was unchanged at 21 cents.

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

Anglo American Plc (AAUKY US) advanced 3.2 percent to $27.31. AngloGold Ashanti Ltd. (AU US) declined 1 percent to $49.30. BHP Billiton Ltd. (BBL US) gained 1.9 percent to $80.97. DRDGold Ltd. (DROOY US) dropped 1 percent to $4.90. Gold Fields Ltd. (GFI US) slipped 1.9 percent to $17.78. Harmony Gold Mining Co. (HMY US) fell 0.4 percent to $11.74. Impala Platinum Holdings (IMPUY US) added 1.9 percent to $29.95. Sappi Ltd. (SPP US) rose 1 percent to $5.28. Sasol Ltd. (SSL US) gained 3.1 percent to $56.44.

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

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.