South Africa Stocks: AngloGold, MTN, Richemont, RMI, Telkom Move
The FTSE/JSE Africa All Share Index (JALSH) advanced for the first time in four days, gaining 0.5 percent to 33,566.43 by 1:13 p.m. in Johannesburg.
The following are among the most active equities in the South African market today. Stock symbols follow company names.
AngloGold Ashanti Ltd. (ANG) , Africa’s biggest producer of the metal, rose for the first time in six days, climbing 1.8 percent to 305.48. Gold gained for the first time in four days in London as investors bought the metal after its drop to the lowest level in almost six weeks.
Cie. Financiere Richemont SA (CFR) , the world’s second- largest luxury goods maker, which makes almost a quarter of its sales in China and Hong Kong, rose for the second time this week, adding 1 percent to 45.43 rand. China will cut import taxes on “a large number” of consumer and luxury goods this year to boost domestic consumption, the China Daily reported today, citing former Vice Commerce Minister Wei Jianguo.
Compu-Clearing Outsourcing Ltd. (CCL) , a freight forwarding and clearing company, advanced to a two-month high, climbing 1.7 percent to 3 rand. Earnings per share rose 36 percent to 12.2 cents in the six months through December, the company said today.
MTN Group Ltd. (MTN) , Africa’s biggest mobile-phone company, headed for its highest level in more than a month, climbing 2.4 percent to 138.40 rand. Total subscribers increased 16 percent to 164.5 million in the year through December, the company said today.
RMI Holdings Ltd. (RMI) (RMI SJ), the investment company with interests in insurance services, fell for a second day, dropping 1.2 percent to 15.80 rand. The group’s casualty and property insurance unit, known as OUTsurance, expects its personal lines business to remain under pressure while its commercial lines unit will continue to gain market share, it said today.
Telkom South Africa Ltd. (TKG) , Africa’s biggest fixed- line phone company, headed for its biggest gain in almost three months, rising 2.5 percent to 25.97 rand. KT Corp., South Korea’s largest phone and Internet company, said it is still in talks to buy a stake in Telkom amid speculation the offer may be lowered or scrapped.
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