South African Stocks: BHP, Gold Fields, Morevest, Wilson Bayly
The FTSE/JSE Africa All Share Index (JALSH) advanced for a second day, rising less than 0.1 percent to 34,106 by the close in Johannesburg. The index gained 0.6 percent last week.
The following were among the most active equities in the South African market today. Stock symbols follow company names.
BHP Billiton Ltd. (BHP) , the world’s biggest miner, climbed 0.4 percent to 252 rand. Copper in London jumped as much as 2.7 percent, rising for the first time in seven days, as base metals rallied after China said it will cut banks’ reserve ratios for the second time in three months to spur lending
Gold Fields Ltd. (GFI) , South Africa’s second-largest gold miner, declined to the lowest in four months, sliding 2.4 percent to 122.99 rand. The stock was downgraded to “sell” from “hold” at Deutsche Bank AG, with a 12-month price estimate of 100 rand.
Morevest Business Group Ltd. (MOR) (MOR SJ), a computer-services company, gained the most in more than two months, jumping 9.1 percent to 24 cents. The company said fiscal first-half profit excluding one-time items increased 11 percent and that it will continue buying back stock in the second half.
Onelogix Group Ltd. (OLG) , a South African logistics company, rose for a second day, advancing 2.3 percent to 1.82 rand. First-half earnings, excluding one-time items, increased 18 percent, the company said in a regulatory filing today.
Wilson Bayly Holmes-Ovcon Ltd. (WBO) , a construction company, gained to its highest in almost a year, jumping 1.4 percent to 117.80 rand. The group’s order book increased to 21.1 billion rand ($2.7 billion) at the beginning of 2012 from 16.2 billion rand in June, the company said in a regulatory filing.
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