South African Stocks: Anglo, FirstRand, Imperial, SABMiller Move
The FTSE/JSE Africa All Share Index closed at its highest in more than a week, gaining 420.31, or 1.4 percent, to 29,888.87 by the 5 p.m. close in Johannesburg, a second day of gains.
The following are among the most active stocks in the South African market today.
Anglo American Plc (AGL) , the mining company that makes up about 9 percent of the benchmark stock index, gained the most in more than a week, adding 6.73 rand, or 2.4 percent, to 284.23 rand. Copper futures jumped almost 5 percent on speculation that European officials will contain the region’s fiscal woes.
BHP Billiton Ltd. (BHP) , the world’s largest mining group, added 7.05 rand, or 3.2 percent, to 227.71 rand.
FirstRand Ltd. (FSR) , South Africa’s second-largest banking group, gained for a second day, rising 39 cents, or 2 percent, to 20.20 rand. The lender was raised to “overweight” from “neutral” at HSBC Holdings Plc with a price estimate of 23 rand.
Gooderson Leisure Corp. (GDN SJ), a hotel operator and food-services company, advanced for the first time in five days, adding 5 cents, or 13 percent, to 45 cents. Earnings per share rose as much as 65 percent in the six months to Aug. 31, the company said in a regulatory filing.
Imperial Holdings Ltd. (IPL) , which owns South Africa’s largest auto-dealer network, rose for a second day, advancing 87 cents, or 0.9 percent, to 97.76 rand. Executive director Manuel de Canha bought stock in the company valued at 17.4 million rand ($2.2 million), the company said in a regulatory filing.
SABMiller Plc (SAB) rallied 9.80 rand, or 3.8 percent, to 270.17 rand after Brazilian news website IG reported that the brewer was in talks to be bought by Anheuser-Busch InBev NV in a deal that could be valued at about $80 billion.
Sasol Ltd. (SOL) , the biggest producer of gasoline from coal, advanced for the first time in three days, adding 8.02 rand, or 2.5 percent, to 328.50 rand. Crude oil increased after European Central Bank President Jean-Claude Trichet announced a bond-purchase program to stimulate economic growth.
Uranium One Inc. (UUU) , a Vancouver-based producer of the nuclear fuel, gained for a second day, rising 60 cents, or 3.6 percent, to 17.27 rand. World uranium demand is expected to exceed production by 29 percent, according to data supplied by the World Nuclear Association.
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