Stocks in South Africa Rise for a Third Day; AngloGold, Real Africa Climb
Stock Chart for AngloGold Ashanti Ltd (ANG)
The FTSE/JSE Africa All Share Index rose for a third day, adding 72.37, or 0.2 percent, to 30,365.13 by the 5 p.m. close in Johannesburg.
The following were among the most active stocks in the South African market today.
AngloGold Ashanti Ltd. (ANG) , Africa’s largest producer of the metal, closed at its highest in a week, advancing 3.52 rand, or 1.1 percent, to 317.52 rand. Gold increased in New York on speculation that the Federal Reserve will ease monetary policy further to stimulate the economy, boosting the appeal of the precious metal as an alternative asset.
Gold Fields Ltd. (GFI) , the continent’s second-biggest gold producer, gained 1.41 rand, or 1.2 percent, to 115.31 rand.
DRDGold Ltd. (DRD) , South Africa’s fourth-largest producer of the metal, added 13 cents, or 3.5 percent, to 3.83 rand.
Labat Africa Ltd. (LAB) , a provider of management and financial services, surged the most in more than a week, rising 4 cents, or 1.4 percent, to 39 cents. The company said it has entered into negotiations, which if successfully concluded may have an effect on the price of its shares.
Real Africa Holdings Ltd. (RAH) , the investment company with interests in gaming and tourism, rallied the most in four weeks, adding 5 cents, or 1.3 percent, to 3.80 rand. The company said it has received an expression of interest letter from Sun International Ltd. (SUI SJ) to buy all the shares in the company that Sun doesn’t already own.
Sun International gained 99 cents, or 1.2 percent, to 87 rand.
Spur Corp Ltd. (SUR) , a restaurant franchise, rose the most in four days, advancing 15 cents, or 1.1 percent, to 13.50 rand. The company said it has entered into talks regarding a possible acquisition, which if successfully concluded may affect the price of the company’s shares.
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