South African Stocks: Chemspec, Ipsa, Pick n Pay, Sentula Mining

South Africa’s FTSE/JSE Africa All Share Index snapped two days of gains, declining 70.55, or 0.2 percent, to 32,204.06 at the 5 p.m. close in Johannesburg.

The following were among the most active stocks in the South African market today.

Chemical Specialities Ltd. (CSP) , a South African paint and coating products distributor, fell to the lowest level since Jan. 26, losing 3 cents, or 7 percent, to 40 cents. The company said it expects its loss to almost double from 12.82 cents a share for the year through March, according to a trading update today.

Ipsa Group Plc (IPSA) , which manages power generation plants in southern Africa, fell to the lowest in a week, retreating 10 cents, or 11 percent, to 85 cents. Ipsa reported a loss of 1.2 million pounds ($2 million) for the year through September.

Pick n Pay Stores Ltd. (PIK) , South Africa’s second- biggest grocer, dropped the most in more than two years, slipping 2.28 rand, or 4.7 percent, to 46.02 rand. Earnings per share excluding one-time items probably fell as much as 30 percent in the year through February, the retailer said in a trading update today.

Sentula Mining Ltd. (SNU) , a coal miner, fell the most in eight months, declining 17 cents, or 5.8 percent, to 2.75 rand. The company said it halted mining at its Matadeni opencast section.

Vivendi Income Fund Ltd. (VIF SJ), a commercial, retail and industrial property investor, rallied the most in six weeks, jumping 15 cents, or 3.3 percent, to 4.75 rand. The company said it will purchase Edgars Church Street for 38 million rand ($5.6 million) from R & A Admin CC.

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

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