South African Stocks Rise For Second Day: AVI, Gold Fields, Impala Climb

The FTSE/JSE Africa All Share Index rose for a second day, gaining 383.83, or 1.2 percent, to 32,310.38 by the 5 p.m. close in Johannesburg.

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

AVI Ltd. (AVI) , a producer and distributor of consumer goods including food and cosmetics, climbed 45 cents, or 1.4 percent, to 33.25 rand, a second day of gains. AVI said it agreed to sell its Denny Mushrooms Ltd. unit to a group of investors that include the private-equity business of FirstRand Ltd. (FSR)’s Rand Merchant Bank. FirstRand (FSR SJ) rose 5 cents, or 0.3 percent, to 19.45 rand.

Gold Fields Ltd. (GFI) , the world’s fourth-largest gold producer, surged 4.32 rand, or 4.2 percent, to 106.75 rand, the highest since June 3. Gold for immediate delivery advanced for a fourth day to a record. Harmony Gold Mining Co. (HAR SJ) jumped 6.82 rand, or 7.5 percent, to 97.52 rand, the biggest increase since March 24.

Growthpoint Properties Ltd. (GRT) , South Africa’s largest publicly traded real-estate investor, dropped for a fourth day, declining 30 cents, or 1.6 percent, to 18.40 rand. The property company said it will raise about 1.5 billion rand ($219.4 million) in a share sale that begins today.

Impala Platinum Holdings Ltd. (IMP) , the world’s second- largest producer of the metal, gained for the first day in eight, rising 2.20 rand, or 1.3 percent, to 172.20 rand. Platinum increased as much as 2.4 percent to $1,772.75 an ounce.

To contact the reporters on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net; Mike Cohen in Cape Town at mcohen21@bloomberg.net;

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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