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Abil, AngloGold, Foschini: South Africa Stock Preview

The following is a list of companies whose shares may have unusual price changes in South Africa. Stock symbols are in parentheses after company names and prices are from the last close.

South Africa’s FTSE/JSE Africa All Share Index added 163.70, or 0.6 percent, to 27,309.06 in Johannesburg, snapping two days of losses.

African Bank Investments Ltd. (ABL SJ): Morgan Stanley raised it share-price estimate on South Africa’s largest provider of unsecured loans to 30 rand from 26 rand. Abil, as the company is known, rose 45 cents, or 1.4 percent, to 31.90 rand.

AngloGold Ashanti Ltd. (ANG SJ): The world’s third-largest gold producer will cut its exploration spending in Australia if a proposed tax on mining profits is approved. AngloGold slid 21 cents, or 0.1 percent, to 327.78 rand.

Capitec Bank Holdings Ltd. (CPI SJ): South Africa’s second-largest provider of unsecured loans holds its annual general meeting. Capitec added 65 cents, or 0.7 percent, to 99.25 rand.

Cie Financiere Richemont SA (CFR SJ): The world’s second-largest luxury-goods maker completed its acquisition of Net-A- Porter Ltd., and has a stake of more than 93 percent in the company. Richemont added 11 cents, or 0.4 percent, to 25.47 rand.

Dynamic Technology Holdings Ltd. (DTH SJ): The supplier of packaged software and computer components has received an offer from Xantha Properties Ltd. of 1.05 rand per share for 28.7 million shares. Dynamic’s stock was unchanged at 70 cents.

Exxaro Resources Ltd. (EXX SJ): South Africa’s fourth-largest coal producer may increase output by 33 percent in four years to meet demand from new power plants, a company official said. Exxaro slid 30 cents, or 0.3 percent, to 110.80 rand.

Foschini Ltd. (FOS SJ): Bank of America Merrill Lynch raised its share-price estimate on South Africa’s third-largest clothing retailer to 73.50 rand, from 70 rand, citing the stock’s valuation. Foschini fell 1.77 rand, or 2.7 percent, to 64.98 rand.

Massmart Holdings Ltd. (MSM SJ): South Africa’s largest food and general-goods wholesaler denied a labor union accusation that the company is cutting 1,500 jobs to prepare for a transaction with Wal-Mart Stores Inc., Business Report said, citing the company. Massmart slid 86 cents, or 0.7 percent, to 117.34 rand.

Netcare Ltd. (NTC SJ): Workers started a strike over a pay dispute at 11 of the Johannesburg-based company’s hospitals in South Africa, the Health & Other Services Personnel Trade Union of South Africa said. Netcare fell 25 cents, or 1.9 percent, to 13.15 rand.

Peregrine Holdings Ltd. (PGR SJ): The money manager and stockbroker reports full-year earnings through March. The stock added 10 cents, 0.8 percent, to 12 rand.

Santam Ltd. (SNT SJ): South Africa’s largest property and casualty insurer holds its annual general meeting. The shares added 2.15 cents, 2 percent, to 109 rand.

Sappi Ltd. (SAP SJ): The world’s largest producer of glossy magazine paper was raised to “outperform” from “neutral” at Credit Suisse Group, which cited higher European global shipments and price recovery in the paper and packaging sector. Sappi added 35 cents, or 1.2 percent, to 29.35 rand.

Sephaku Holdings Ltd. (SEP SJ): The mineral exploration and development company will sell 779 million rand ($101 million) of shares to Dangote Industries Ltd., a Nigerian conglomerate, to fund a cement project. The shares retreated 4 cents, or 1.3 percent, 3 rand.

Telkom South Africa Ltd. (TKG SJ): Africa’s largest fixed-line operator should sell a bigger stake in the company to black investors, Business Day said, citing the government’s Department of Communications. Telkom slid 52 cents, or 1.4 percent, to 36.48 rand.

Shares or American depositary receipts of the following South African companies closed as follows:

Anglo American Plc (AAUKY US) dropped 1 percent to $18.82. AngloGold Ashanti Ltd. (AU US) slid 0.9 percent to $41.55. BHP Billiton Ltd. (BBL US) slumped 3 percent to $53.24. DRDGold Ltd. (DROOY US) declined 1.6 percent to $4.35. Gold Fields Ltd. (GFI US) slid 0.3 percent to $13.71. Harmony Gold Mining Co. (HMY US) gained 0.3 percent to $9.71. Impala Platinum Holdings Co. (IMPUY US) declined 3.4 percent to $24.16. Sappi Ltd. (SPP US) slid 0.5 percent to $3.75. Sasol Ltd. (SSL US) fell 2.7 percent to $35.02.

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