South African Stocks: Anglo, Freeworld, KAP, Pinnacle, Trustco

The FTSE/JSE Africa All Share Index declined for a second day, slipping 41.03, or 0.1 percent, to 31,054.20 by the 5 p.m. close in Johannesburg.

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

Anglo American Plc (AGL) , the mining company that makes up more than 9 percent of the benchmark stock index, fell for a second day, sliding 2.23 rand, or 0.8 percent, to 288 rand. Copper fell the most in two weeks as economic growth slowed to a two-year low in China, the world’s largest metals consumer.

BHP Billiton Ltd. (BHP) , the world’s largest mining group, slipped 1.63 rand, or 0.7 percent, to 237.37 rand.

Freeworld Coatings Ltd. (FWD) , a manufacturer of paint, advanced to the highest in four months, gaining 1.99 rand, or 21 percent, to 11.50 rand. Japan’s Kansai Paint Co. said it is offering 12 rand per share for the remaining stock in Freeworld that it doesn’t already own and plans to delist the company from the Johannesburg bourse.

KAP International Holdings Ltd. (KAP) , an investment company, rose the most since January, adding 22 cents, or 10 percent, to 2.42 rand. The company said it agreed to buy the industrial assets of Steinhoff International Holdings Ltd. (SHF) for 8.9 billion rand ($1.1 billion). Steinhoff declined 18 cents, or 0.8 percent, to 22.49 rand.

Pinnacle Technology Holdings Ltd. (PNC) , a supplier of computer and networking equipment, closed at its highest on record, climbing 13 cents, or 1.3 percent, to 10.20 rand. Pinnacle agreed to buy the 49 percent it doesn’t own of Explix Business Solutions (Pty.) Ltd. for 3.5 million rand.

Trustco Group Holdings Ltd. (TTO) , an investment holding company with interest in insurance, education and financial services, closed at its highest since Sept. 6, gaining 9 cents, or 13 percent, to 81 cents. The company said the Zimbabwe High Court has issued an order enabling it to enforce the terms of its contractual agreement with Econet Wireless Ltd.

To contact the reporters on this story: Stephen Gunnion in Johannesburg at Renee Bonorchis in Johannesburg at

To contact the editor responsible for this story: Gavin Serkin at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.