South African Stocks: Anglo, Esorfranki, FirstRand Move

The FTSE/JSE Africa All Share Index (JALSH) fell the most in three months, declining 1.9 percent to 33,387.04 by the close in Johannesburg, a third day of losses.

The following were among the most active equities in the South African market today. Stock symbols follow company names.

Anglo American Plc (AAL) , the diversified miner that makes up about 9 percent of the index, fell for a fourth day in its longest losing streak in almost three months, sliding 2.7 percent to 303 rand. Copper fell for a third day in New York, heading for the biggest retreat in three weeks, on concern demand may be poised to weaken as economies shrink in Europe and slow elsewhere.

BHP Billiton Ltd. (BIL) , the world’s biggest miner, slipped 2.8 percent to 232.89 rand.

AngloGold Ashanti Ltd. (ANG) , Africa’s biggest producer of the metal, closed at the lowest in seven months, dropping 3 percent to 300.10 rand. Gold futures slumped to five-week lows as the dollar’s rally eroded demand for precious metals as alternative investments.

Hospitality Property Fund Ltd. (HPA) (HPA SJ), a South African investor in hotels and resorts, fell the most since June 2008, declining 9.2 percent to 11.80 rand. The company reported a 19.1 million-rand ($2.5 million) loss for the six months through December.

Impala Platinum Holdings Ltd. (IMP) , the world’s second- largest producer of the metal, retreated to its lowest in almost three weeks, falling 2.7 percent to 158.81 rand. Zimbabwe rejected a request by the company’s Zimplats unit for an extension on the country’s requirement that it cede a 29.5 percent stake to a government agency.

Imperial Holdings Ltd. (IPL) , which owns South Africa’s largest auto-dealer network, dropped 0.8 percent to 147.31 rand, a third day of losses. The stock was downgraded to “neutral” from “outperform” at Credit Suisse Group AG, with a 150 rand price estimate.

JSE Ltd. (JSE) , the operator of Johannesburg’s stock Exchange, declined the most in six months, sliding 4.4 percent to 76.36 rand. Earnings per share for the year through December fell as much as 12 percent after it took an impairment charge of 223 million rand for its Systems Replacement Project and employee and consultancy fees.

Lonmin Plc (LON) , the third-biggest platinum miner, fell the most in 10 months, declining 5.4 percent to 123.60 rand. Spot platinum dropped as much as 3.5 percent to $1,604.50 an ounce.

MMI Holdings Ltd. (MMI) , the South African insurance company that was created in 2010 from the merger of Metropolitan Group Ltd. and Momentum Group Ltd., fell the most since November 2010, dropping 4.8 percent to 18.30 rand. First-half profit declined 25 percent after the merger proved to be “very challenging and complex,” the company said in a regulatory filing today.

To contact the reporters on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net;

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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