South African Stocks: Bidvest, Gold Fields, Raubex, Vodacom Move
The FTSE/JSE Africa All Share Index declined 5.67, or less than 0.1 percent, to 31,911.35 by 10:08 a.m. in Johannesburg. The index fell 3 percent last week.
The following are among the most active stocks in the South African market today.
Bidvest Group Ltd. (BVT) , an industrial holding company, rose 0.6 to 154.35, paring a 3.9 percent decline on Nov. 4. The company was rated “neutral” in new coverage by HSBC Holdings Plc, with a price estimate of 173 rand.
Gold Fields Ltd. (GFI) , the country’s second-biggest producer, headed for its highest close in more than six weeks, adding 1.3 percent to 138.82 rand. Gold advanced to the highest level in more than six weeks as concern Italian Prime Minister Silvio Berlusconi will fail to muster a majority for a key parliamentary vote tomorrow helped stoke demand for a haven.
Harmony Gold Mining Co. (HAR SJ), the continent’s third- largest gold company, rose 2.4 percent to 108.70 rand.
Raubex Ltd. (RBX SJ), a South African road builder, advanced for the first time in five days, climbing 1.1 percent to 13 rand. The group’s order book remains stable at 4.6 billion rand ($576 million), it said in a regulatory filing.
Vodacom Group Ltd. (VOD) , the largest provider of wireless services to South Africans, fell for a third day, slipping 0.8 percent to 88.48 rand. The company said fiscal first-half profit rose 6 percent, missing estimates as it boosted spending to avoid a repeat of network outages.
Vividend Income Fund Ltd. (VIF) , a commercial, retail and industrial property investor, gained for a second day, adding 1.1 percent to 4.80 rand. The company reported earnings of 3.2 million rand in the year through August, its first reporting period since listing on the Johannesburg Stock Exchange in November 2010.
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