Massmart, Naspers, PBT, Sovereign Could Move: South African Equity Preview
The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close.
The FTSE/JSE Africa All Share Index fell for a third day, declining 14.69, or 0.1 percent, to 29,674.20 in Johannesburg.
Massmart Holdings Ltd. (MSM) : The South African retailer controlled by Wal-Mart Stores Inc. (WMT) will repeat a price-cut promotion at its stores and open 23 new outlets over the next eight months, the company said in a statement. Massmart shares weakened 3.70 rand, or 2.6 percent, to 138.70 rand.
Naspers Ltd. (NPN) : Africa’s largest media group bought Slando, the online advertising company created by Gumtree’s founders for an undisclosed sum. Naspers shares advanced 5.47 rand, or 1.6 percent, to 350.97 rand.
PBT Group Ltd. (PBT) : The computer-services company agreed to buy Prescient Holdings Ltd. for 1.6 billion rand ($200 million) to expand into money management and stockbroking. PBT added 3.7 percent to 1.40 rand.
Rare Holdings Ltd. (RAR) : The maker of pipes and valves said its fiscal full-year loss widened to 91.4 million rand compared with 58.1 million rand a year earlier. The stock declined 5 percent to 19 cents.
Sovereign Foods Investments Ltd. (SOV SJ): The poultry producer said fiscal first-half earnings per share fell to 0.7 cents from 2.6 cents. The shares were unchanged at 4.45 rand.
The following shares begin trading today without rights to their latest dividends:
To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at email@example.com