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South African Equities: Discovery, Impala, Netcare, Sappi Moved

The FTSE/JSE Africa All Share Index gained for a second day, adding 45.04, or 0.1 percent, to 32,261.65 by the 5 p.m. close in Johannesburg. The index has gained 1.1 percent this week.

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

Discovery Holdings Ltd. (DSY SJ), South Africa’s largest medical insurance administrator, declined 0.4 percent, reversing yesterday’s 0.9 percent gain. Co-founder Barry Swartzberg sold about 8.4 million rand ($1.1 million) of shares in the company in two transactions, the company said in a stock exchange statement today.

Impala Platinum Holdings Ltd. (IMP SJ), the second-biggest producer of the metal, gained for a second day, adding 1.7 percent to 182.06 rand. Platinum rose for the first day in three, climbing 1.1 percent in London trading.

Anglo American Platinum Corp. Ltd. (AMS SJ), the biggest producer, advanced 1.3 percent to 566.50 rand.

Netcare Ltd. (NTC SJ), South Africa’s largest private-hospital operator, gained the most in two weeks, climbing 2.9 percent to 13.79 rand. The company said it expects to report that earnings per share for the 12 months to Sept. 30 increased by as much as 26 percent from a year earlier.

SacOil Holding Ltd. (SCL SJ), an African oil and natural-gas explorer, had the largest two-day jump in more than a year, climbing 7.3 percent to 59 cents, after advancing 22 percent yesterday. The company said yesterday that profit will rise sevenfold after the sale of assets.

Sappi Ltd. (SAP SJ), the world’s largest maker of glossy paper, slid 1.3 percent to 22.06 rand, paring yesterday’s 5.5 percent gain. The stock was downgraded to “underperform” from “outperform” at Macquarie Group Ltd., with a 12-month price estimate of 20 rand. BMO Capital Markets Ltd. downgraded the shares to “market perform” from “outperform” with a 12-month price estimate of $3.

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