Avusa, Fortress, Nedbank: South Africa Stocks Preview

(Corrects to remove incorrect reference to Old Mutual and Standard Chartered being in talks in Nedbank item.)

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 gained 181.26, or 0.6 percent, to 32,385.32 at the 5 p.m. close in Johannesburg.

Avusa Ltd. (AVU) : Shareholders owning about 20 percent of Avusa Ltd. are against a 2.7 billion-rand ($403 million) bid for the media company, the Sunday Times reported, citing Gavin Wood, chief investment officer for Kagiso Asset Management, which holds a 12.5 percent stake in Avusa, and Rob Forsyth, head of industrials at Investec Asset Management, which holds about 5 percent of Avusa. Shares in the company rose 43 cents, or 1.8 percent, to 25 rand.

Fortress Income Fund Ltd. (FFA) : The South African capital fund issued 10.3 million Fortress A linked units and the same number of Fortress B linked to independent public unitholders. The stock gained 10 cents, or 0.9 percent, to 11.05 rand.

Metorex Ltd. (MTX) : Chief Operating Officer Darryll Castle resigned from the base metals mining company effective April 30. Metorex fell 2 cents, or 0.3 percent, to 6.45 rand.

Nedbank Ltd. (NED SJ): Standard Chartered Plc (STAN) may bid for Old Mutual Plc (OML)’s 52 percent stake in South Africa’s Nedbank, Johannesburg’s Sunday Times reported, without saying where it got the information. Nedbank added 1.46 rand, or 1 percent, to 143 rand.

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

Bell Equipment Ltd. (BEL SJ), Bowler Metcalf Ltd. (BCF SJ), Efficient Group Ltd. (EFG SJ), Exxaro Resources Ltd. (EXX SJ), Metrofile Holdings Ltd. (MFL SJ), Miranda Minerals Holdings Ltd. (MMH SJ), Nedbank Ltd. (NED SJ), Putprop Ltd. (PPR SJ), Sasol Ltd. (SOL SJ), Standard Bank Group Ltd. (SBK SJ), Universal Industries Corp. Ltd. (UNI SJ).

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

Anglo American Plc (AAUKY US) advanced 1.2 percent to $26.12. AngloGold Ashanti Ltd. (AU US) gained 1.9 percent to $48.85. BHP Billiton (BBL US) jumped 1.3 percent to $80.63. DRDGold Ltd. (DROOY US) slipped 1.9 percent to $5.20. Gold Fields Ltd. (GFI US) advanced 0.5 percent to $17.54. Harmony Gold Mining Co. (HMY US) climbed 2.4 percent to $15.22. Impala Platinum Holdings (IMPUY US) jumped 4 percent to $29.90. Sappi Ltd. (SPP US) rose 1.9 percent to $5.41. Sasol Ltd. (SSL US) fell 0.6 percent to $57.63.

To contact the reporter on this story: Franz Wild in Johannesburg at fwild@bloomberg.net

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

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