MTN Group, Remgro, Zeder Investments: South African Equity Market Preview

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

The FTSE/JSE Africa All Share Index rose 344.23, or 1.1 percent, to 30,971.88 at the 5 p.m. close in Johannesburg.

MTN Group Ltd. (MTN) : Africa’s largest mobile-phone operator holds a shareholders’ meeting. The stock gained 65 cents, or 0.5 percent, to 136.80 rand.

Remgro Ltd. (REM) : Earnings per share after one-time items climbed 18 percent to 8.12 rand in the year through March, from 6.90 rand a year earlier, the group said in a regulatory statement. Remgro increased 1.39 rand, or 1.3 percent, to 110.59 rand.

Zeder Investments Ltd. (ZED) : The agricultural investment group has purchased shares in fruit exporter Capespan Group Ltd., taking its shareholding in the company to 32.7 percent. Zeder has made a buyout offer for the company. The stock advanced 1 cent, or 0.4 percent, to 2.38 rand.

To contact the reporters on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net; 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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