The FTSE/JSE Africa All Share Index advanced for a third day, climbing 356.03, or 1.2 percent, to 30,244.90 by the 5 p.m. close in Johannesburg. The index gained 1.9 percent this week.
The following are among the most active stocks in the South African market today.
Afrimat Ltd. (AFT) , a crushed stone and cement supplier, rose the most in more than a week, climbing 25 cents, or 6.3 percent, to 4.25 rand. The group has entered discussions which may affect the level its stock trades at, it said in a regulatory filing.
Anglo American Plc (AAL) , the mining company that makes up about 9 percent of the benchmark stock index, increased for a third day, rising 2.70 rand, or 1 percent, to 286.93 rand. Copper for three-month delivery rose on the London Metal Exchange as U.S. payroll growth in September exceeded analysts’ estimates.
BHP Billiton Ltd. (BHP) , the world’s largest mining group, added 1.68 rand, or 0.7 percent, to 229.39 rand.
Cie. Financiere Richemont SA (CFR SJ), the world’s second- biggest luxury-goods company, rose a third day, adding 94 cents, or 2.5 percent, to 38.69 rand. The economic slowdown hasn’t weighed on sales, Juan-Carlos Torres, head of watchmaking unit Vacheron Constantin, told Le Temps.
Impala Platinum Holdings Ltd. (IMP) , the second-biggest platinum miner, gained the most in more than a week, rising 3.80 rand, or 2.4 percent, to 165 rand. The company agreed to a wage deal with South Africa’s National Union of Mineworkers that will see pay increased by between 8.5 percent and 10 percent, Bob Gilmour, a company spokesman, said by mobile phone today.
Massmart Holdings Ltd. (MSM) , the South African retailer controlled by Wal-Mart Stores Inc., closed at its highest in more than a week, gaining 4.07 rand, or 2.9 percent, to 143.40 rand. The company was raised to “hold” from “sell” at Deutsche Bank AG with a 12-month price estimate of 132 rand.
Naspers Ltd. (NPN) , Africa’s largest media group, climbed for a third day, rising 16 rand, or 4.7 percent, to 360 rand. U.S. investor Dodge & Cox Inc. has acquired a 6.99 percent beneficial interest in the media group’s non-voting stock, Naspers said in a regulatory filing.
Sappi Ltd. (SAP) , the world’s largest maker of glossy paper, closed at a one-week high, adding 62 cents, or 2.7 percent, to 23.73 rand. The company said it will cut a “significant” number of jobs in South Africa in the first half of fiscal 2012 as it reorganizes its operations amid falling demand for its products.
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