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South African Stocks: Anglo, Capitec, Exxaro, Harmony, Kumba

Oct. 31 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined for the first time in seven days, slipping 545.57, or 1.7 percent, to 32,348.54 by the 5 p.m. close in Johannesburg. The gauge has gained 9 percent in October, the biggest monthly advance since July 2009.

The following were among the most active stocks in the South African market today.

Anglo American Plc (AGL SJ), the mining company that makes up about 9 percent of the benchmark stock index, fell for the first time in four days, sliding 3.8 percent to 297.23 rand. Copper declined, trimming the biggest monthly advance since December and leading a retreat in industrial metals, after Chinese Premier Wen Jiabao said the government will maintain property curbs and the dollar jumped.

BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, dropped 2.7 percent to 252.44 rand.

Capitec Bank Holdings Ltd. (CPI SJ), South Africa’s fastest-growing bank, headed for its lowest close in almost two months, declining 4.2 percent to 182 rand. The lender plans to raise capital to fund growth by issuing 4.6 million new shares.

Country Bird Holdings Ltd. (CBH SJ), a chicken producer, advanced to its highest in more than two weeks, climbing 3.5 percent to 4.40 rand. The company repaid 200 million rand ($26 million) in borrowings from major shareholder Synapp International, allaying concern that the loan would be converted to equity.

Exxaro Resources Ltd. (EXX SJ), the coal miner that exports about 42 percent of its production, dropped for the first time in three days, sliding 1.9 percent to 179.50 rand. Coal export prices at Richards Bay, Africa’s biggest terminal for shipping the fuel, fell to the lowest level this year, according to data on Bloomberg from researcher IHS McCloskey. Separately, Morgan Stanley cut its price estimate for the company to 204 rand from 209 rand.

Harmony Gold Mining Co. (HAR SJ), the continent’s third-largest gold company, rose to its highest closing level in five weeks, adding 1.5 percent to 104.51 rand. Fiscal first-quarter profit excluding one-time items jumped more than threefold as the price of the precious metal surged from a year earlier.

Invicta Holdings Ltd. (IVT SJ), a seller of ball bearings and transmission equipment, rose to its highest closing level in more than three months after saying earnings per share for the six months through September will be as much as 35 percent higher than in the year-earlier period. The shares climbed 3.2 percent to 48.00 rand

JD Group Ltd. (JDG SJ), a South African furniture retailer, advanced for a fifth day, rising 0.6 percent to 44.40 rand. Earnings per share are expected to be as much as 34 percent higher in the year to Aug. 31 from a year earlier.

Mondi Ltd. (MND SJ), Europe’s largest maker of office paper, climbed to its highest close in more than two weeks, adding 1 percent to 63 rand. The company posted third-quarter operating profit of 136 million euros, and said it was higher than in the year-earlier period, without giving the year-earlier figure.

Kumba Iron Ore Ltd. (KIO SJ), an iron ore-producing unit of Anglo American, slid for the first day in three, dropping 1 percent to 471.99 rand. Morgan Stanley cut its price estimate for the company to 469 rand from 479 rand.

Tiger Brands Ltd. (TBS SJ), South Africa’s largest food company, snapped four days of gains, dropping 1.2 percent to 228.71 rand. The stock was cut to “equal weight” from “overweight” by analysts at Morgan Stanley.

To contact the reporters on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net Robert Brand in Cape Town at rbrand9@bloomberg.net

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

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