South Africa’s FTSE/JSE Africa All Share Index declined for a second day, falling 11.37, or less than 0.1 percent, to 32,788.86 at the 5 p.m. close in Johannesburg.
The following were among the most active stocks in the South African market today.
Alert Steel Holdings Ltd. (AET SJ), a seller of steel, building and hardware materials, fell to the lowest since Jan. 28, dropping 4 cents, or 15 percent, to 22 cents. The company said it has sold Alert Plumbing for 8.24 million rand ($1.1 million).
Capitec Bank Holdings Ltd. (CPI SJ), a South African provider of loans not backed by assets, jumped to the highest since its shares started trading in February 2002, climbing 6.01 rand, or 3.6 percent, to 174.01 rand. Capitec said it expects earnings to increase as much as 50 percent in the year ending February compared with the same period last year.
Hosken Consolidated Investments Ltd. (HCI SJ), an investment company, rose for a second day, adding 74 cents, or 1 percent, to 78.79 rand. HCI said it bought a 33.9 percent stake in South African wine and spirits maker KWV Holdings Ltd. for 274.12 million rand to diversify its earnings base.
Lonmin Plc (LON SJ), the world’s third-largest platinum miner, dropped the most since Jan. 24, losing 6 rand, or 2.8 percent, to 208.50 rand. Lonmin will focus on cost cuts and other improvements to current operations for now as barriers to acquisitions have increased, according to Chief Executive Officer Ian Farmer.
Mvelaphanda Resources Ltd. (MVL SJ), a mining investment company, gained the most since Nov. 26, surging 1.50 rand, or 4 percent, to 39.20 rand. Mvela said it will spin off its shares in Northam Platinum Ltd. (NHM SJ), which then plans to buy the South African mining investment company. Northam advanced 50 cents, or 1.1 percent, to 45.50 rand.
Pallinghurst Resources Ltd. (PGL SJ), a commodities investment company, gained for the first time in three days, rising 4 cents, or 1 percent, to 4.14 rand. The company said the development of the Tshipi Borwa manganese mine in which it has a 17 percent interest will commence in the first half of this year.