South Africa Stocks Snap Six-Days of Gains; Aquarius Declines Most in Week

The FTSE/JSE Africa All Share Index snapped six days of gains, losing 250.15 or 0.8 percent, to 32,315.58 by 3 p.m. in Johannesburg.

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

Aquarius Platinum Ltd. (AQP) , the world’s fourth-largest producer of the metal, fell the most in more than a week, losing 50 cents, or 1.3 percent, to 38.20 rand. Aquarius said it may idle its Blue Ridge mine and instead expand its Everest operation in South Africa at a cost of 850 million rand ($125 million).

BHP Billiton Ltd. (BIL SJ), the world’s biggest mining company, retreated for a second day, losing 2.02 rand, or 0.8 percent, to 268 rand. Copper declined the most in more than a week, falling 1.2 percent to $9,104 a metric ton.

Blue Financial Services Ltd. (BFS) , a provider of unsecured loans, jumped the most since March 7, rallying 4 cents, or 14 percent, to 32 cents. Blue Financial posted a loss of 275.6 million rand ($41 million) for the year ended February, compared with a loss of 1.02 billion rand a year earlier, it said in a statement today.

Huge Group Ltd. (HUG) , a telecommunications company, headed for the biggest slump since Nov. 30, slipping 15 cents, or 13 percent, to 1.05 rand. Publication of results will be delayed, Huge said in a trading update today. It added that earnings for the year through February will be more than 20 percent lower when compared to a year earlier.

Lonrho Plc (LAF) , an investment holding company with infrastructure assets in Africa, declined the most since March 14, dropping 50 cents, or 24 percent, to 1.60 rand. Its loss widened to 3.3 million pounds ($5.4 million) in the six months through March from 1.7 million pounds a year earlier.

Tiger Brands Ltd. (TBS) , South Africa’s biggest food company, rose to the highest in almost a month, climbing 4.05 rand, or 2.1 percent, to 193.81 rand. The company’s recommendation was raised to “buy” from “hold” at Investec Plc.

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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