South African Stocks: Harmony, Iliad, Northam Platinum, Petmin,
The FTSE/JSE Africa All Share Index snapped two days of losses, climbing 81.53, or 0.3 percent, to 31,926.55 at the 5 p.m. close in Johannesburg.
The following were among the most active stocks in the South African market today.
Gold Fields Ltd. (GFI) , Africa’s second-biggest producer of the metal, gained 3.08 rand, or 3.1 percent, to 102.43 rand, the highest closing price since June 6. Gold futures, little changed in New York, may rise on mounting demand for a haven amid Europe’s escalating debt crisis.
Harmony Gold Mining Co. Ltd. (HAR SJ), Africa’s third- largest producer of the metal, rose for a second day, adding 1.46 rand, or 1.6 percent, to 90.70 rand.
Iliad Ltd. (ILA SJ), a producer of building supplies, retreated 80 cents, or 13 percent, to 5.50 rand, its lowest point since November 2008. Iliad said costs associated with realigning some of its businesses will have a “significant adverse impact” on interim results.
Northam Platinum Ltd. (NHM) , the operator of the world’s deepest platinum mine, fell for an eighth day, losing 41 cents, or 1 percent, to 39.10 rand. South Africa’s National Union of Mineworkers said it has declared a dispute with Northam over pay.
Petmin Ltd. (PET) , South Africa’s largest anthracite coal miner, reversed yesterday’s gains, dropping 10 cents, or 3.23 percent, to 3 rand. FirstRand Bank Ltd. now owns 5.2 percent of the company’s ordinary shares, Petmin said in a statement.
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