South African Stocks: Gijima, Jubilee, MMI Holdings, MTN Group
The following were among the most active stocks in the South African market today.
Gijima Group Ltd. (GIJ) , a South African computer- services company, fell to the lowest level since August 2009, declining 16 cents, or 21 percent, to 61 cents. Gijima reported a loss of 271.8 million rand ($39 million) in the six months through December, from a 85.8 million-rand profit a year earlier.
Jubilee Platinum Plc (JLP) , a mineral exploration company, jumped the most since March 3, climbing 23 cents, or 7.4 percent, to 3.35 rand. The company said it had achieved “exceptional” results with its drilling program at the Tjate platinum mining project. Chief Executive Officer Leon Coetzer also said in a statement that the ConRoast project was on track and would be operational by year-end. Both projects are located in the northwest of South Africa.
MMI Holdings Ltd. (MMI) rallied for a second day, rising 55 cents, or 3.4 percent, to 16.75 rand. The South African insurance company that was created last year from the merger of Metropolitan Group Ltd. and Momentum Group Ltd. said net income advanced 33 percent to 1.08 billion rand in the first half.
MTN Group Ltd. (MTN) , Africa’s largest provider of mobile-phone services, rose the most since May 26, adding 6.14 rand, or 4.9 percent, to 131.89 rand. The number of subscribers rose 22 percent to 141.6 million in the year through December, and MTN aims to add another 16.9 million in 2011, it said in a regulatory filing.
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