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First Uranium, Telkom, Nictus: South African Equity Preview

Aug. 30 (Bloomberg) -- The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close. The FTSE/JSE Africa All Share Index closed at its highest in almost four weeks, rising 867.71, or 3 percent, to 30,292.76 by the 5 p.m. close in Johannesburg.

First Uranium Corp. (FUM SJ): The Toronto-based producer of the mineral said it had entered an agreement with Vulisango Holdings Ltd., a black economic empowerment company, to help it comply with South Africa’s Mineral and Petroleum Resources Development Act and to guide it on the country’s Mining Charter. The stock added 4.9 percent to 3.20 rand.

Nictus Ltd. (NCS SJ): The seller of vehicles and furniture in South Africa and Namibia said Johan Willemse has been elected as independent non-executive chairman of the group, replacing Johannes Olivier, who has stepped down. The stock closed unchanged at 1.80 rand.

Telkom SA Ltd. (TKG SJ): Africa’s largest fixed-line phone Operator holds its annual general meeting. Shares in the company gained 0.1 percent to 34.69 rand.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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