Mondi Group, Primeserv, Sentula, ZCI May Move: South African Stock 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 gained for a fourth day, rising 434.65, or 1.4 percent, to 31,726.30 at the 5 p.m. close in Johannesburg.
Mondi Ltd. (MND) : Europe’s largest maker of office paper holds a shareholders’ meeting to vote on whether to approve separating the group and list Mondi Packaging South Africa Ltd. (to be known as Mpact Ltd.) on the stock exchange. Mondi Plc (MNP), the London-listed arm, will also hold a similar meeting. If approved, the listing will take place on July 11. The shares rose 61 cents, or 0.9 percent, to 65.61 rand.
Primeserv Group Ltd. (PMV) : The training-center management company said earnings fell to 9.2 million rand ($1.4 million) in the 15 months through March, compared with the 11.5 million rand in the 12 months through December 2009. The stock was unchanged at 45 cents.
Sentula Mining Ltd. (SNU) : Today is the last day for Shanduka Resources Ltd. to approve an exchange of shares in its coal unit with the listed coal-mining company. Sentula said on June 28 it had been told that the planned transaction with Shanduka wouldn’t be approved by the deadline. Sentula declined 7 cents, or 2.5 percent, to 2.70 rand.
Zambia Copper Investments Ltd. (ZCI SJ): The Bermuda-based copper miner with three mines in Zambia publishes earnings for the year through March. The company said on June 28 that it would report a per share loss of between 7 and 9 U.S. cents for the period. That compares to a loss of 33.5 cents a year earlier. Shares were unchanged at 9 rand.
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