GM Sells Stake in Ally Financial for $900 Million
South African Shares: Anglo, BHP Billiton, Sasol, Telkom Move
The FTSE/JSE Africa All Share Index (JALSH) advanced for a third day to a record in Johannesburg, climbing 0.8 percent to 34,714.06 by the close.
The following were among the most active equities in the market today. Stock symbols follow company names.
Accentuate Ltd. (ACE) , a South African cleaning and maintenance company, climbed to the highest in more than six weeks, jumping 11 percent to 71 cents. The company’s Safic (Pty) Ltd. unit concluded a joint venture agreement with Ion Exchange (India) Ltd. to widen its water treatment operations in South Africa.
Anglo American Plc (AAL) , the diversified miner that makes up almost 8 percent of the index, rose for a third day, jumping 1.2 percent to 282.30 rand. Copper futures rallied for a fifth straight sessions on signs of recovery in the U.S. housing market and prospects for improving demand in China, the world’s largest consumer of industrial metals.
BHP Billiton Ltd. (BIL) , the world’s biggest commodity producer, climbed 1 percent to 243 rand.
First Uranium Corp. (FIU) , a uranium and gold producer, closed at the highest in almost five months, jumping 6.5 percent to 1.97 rand. The company said shareholders holding almost 92 percent of its equity voted in favour of selling assets to AngloGold Ashanti Ltd. and Gold One International Ltd.
Sasol Ltd. (SOL) , the largest producer of motor fuels made from coal, rose for a fifth day, gaining 0.7 percent to 374.56 rand. Oil advanced on optimism that Europe’s debt crisis is easing and speculation that the Federal Reserve will announce a package to boost the U.S. economy.
Telkom South Africa Ltd. (TKG) , Africa’s largest fixed- line operator, jumped to the highest in more than two weeks, adding 2.4 percent to 20.84 rand. Business Day reported South Africa is considering buying the shares in the company it doesn’t already own and delisting it from the Johannesburg bourse. Shares pared their gains after the government said it has no plans to buy out minority shareholders.
Editors: Peter Branton, Ash Kumar
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