South Africa Stocks: AVI, Coal of Africa, Basil Read, Sasol Move
The FTSE/JSE Africa All Share Index (JALSH) declined for the first time in four days, dropping less than 0.1 percent to 33,901.72 by the close in Johannesburg. The index slipped 0.8 percent last week.
The following were among the most active equities in the South African market today. Stock symbols follow company names.
AVI Ltd. (AVI) , climbed for a fourth day to its highest close since at least 1990 when Bloomberg started compiling data, as it rose 1 percent to 45.85 rand. South Africa’s second- largest consumer-goods company said it will increase dividend payments as it generates more cash from faster growth at its footwear business.
Basil Read Holdings Ltd. (BSR) , a South African road builder and construction company, advanced after saying it is in talks that may affect the share price. The shares gained 1.4 percent to 15.61 rand.
Coal of Africa Ltd. (CZA SJ), a coal producer, gained for the first time in five days, rising 0.9 percent to 8.20 rand. The company will move its primary listing to London by the end of the year, Chief Executive Officer John Wallington said.
Mediclinic International Ltd. (MDC) jumped to a record in Johannesburg trading, climbing 0.2 percent to 36.91 rand. The company, South Africa’s largest publicly traded private hospital group by market value, said Coronation Asset Management increased its holding to 8.45 percent from 4.47 percent.
Sasol Ltd. (SOL) , the largest producer of motor fuels made from coal, fell to the lowest level this year after cutting back plans to develop shale gas assets in Canada because prices are too low. The shares dropped 2 percent to 384.82 rand, the lowest since Dec. 29.
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