Oct. 7 (Bloomberg) -- The FTSE/JSE Africa All Share Index advanced for a third day, climbing 356.03, or 1.2 percent, to 30,244.90 by the 5 p.m. close in Johannesburg. The index gained 1.9 percent this week.
The following are among the most active stocks in the South African market today.
Afrimat Ltd. (AFT SJ), a crushed stone and cement supplier, rose the most in more than a week, climbing 25 cents, or 6.3 percent, to 4.25 rand. The group has entered discussions which may affect the level its stock trades at, it said in a regulatory filing.
Anglo American Plc (AGL SJ), the mining company that makes up about 9 percent of the benchmark stock index, increased for a third day, rising 2.70 rand, or 1 percent, to 286.93 rand. Copper for three-month delivery rose on the London Metal Exchange as U.S. payroll growth in September exceeded analysts’ estimates.
BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, added 1.68 rand, or 0.7 percent, to 229.39 rand.
Cie. Financiere Richemont SA (CFR SJ), the world’s second-biggest luxury-goods company, rose a third day, adding 94 cents, or 2.5 percent, to 38.69 rand. The economic slowdown hasn’t weighed on sales, Juan-Carlos Torres, head of watchmaking unit Vacheron Constantin, told Le Temps.
Impala Platinum Holdings Ltd. (IMP SJ), the second-biggest platinum miner, gained the most in more than a week, rising 3.80 rand, or 2.4 percent, to 165 rand. The company agreed to a wage deal with South Africa’s National Union of Mineworkers that will see pay increased by between 8.5 percent and 10 percent, Bob Gilmour, a company spokesman, said by mobile phone today.
Massmart Holdings Ltd. (MSM SJ), the South African retailer controlled by Wal-Mart Stores Inc., closed at its highest in more than a week, gaining 4.07 rand, or 2.9 percent, to 143.40 rand. The company was raised to “hold” from “sell” at Deutsche Bank AG with a 12-month price estimate of 132 rand.
Naspers Ltd. (NPN SJ), Africa’s largest media group, climbed for a third day, rising 16 rand, or 4.7 percent, to 360 rand. U.S. investor Dodge & Cox Inc. has acquired a 6.99 percent beneficial interest in the media group’s non-voting stock, Naspers said in a regulatory filing.
Sappi Ltd. (SAP SJ), the world’s largest maker of glossy paper, closed at a one-week high, adding 62 cents, or 2.7 percent, to 23.73 rand. The company said it will cut a “significant” number of jobs in South Africa in the first half of fiscal 2012 as it reorganizes its operations amid falling demand for its products.
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