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South African Shares: Absa, Anglo American, Hudaco, Merafe Move

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June 29 (Bloomberg) -- The FTSE/JSE Africa All Share Index gained for the first time in three days, adding 0.6 percent to 33,443.39 as of 1:34 p.m. in Johannesburg. The index has gained 4.5 percent this year.

The following are among the most active equities in the market today. Stock symbols follow company names.

Absa Group Ltd. (ASA SJ), the South African lender controlled by Barclays Plc, fell to a seven-month low, losing 2.4 percent to 135.75 rand. The company lost “credibility” after it posted a surprise slump in profit related to bad mortgages, Tracy Brodziak, an analyst at Old Mutual Plc, said.

Anglo American Plc (AGL SJ), the diversified miner that makes up about 8 percent of the index, climbed the most in more than two weeks, adding 2.4 percent to 269.90 rand. Commodities jumped the most in almost six months on optimism Europe’s debt crisis may be contained.

BHP Billiton Ltd. (BIL SJ), the biggest miner, gained 2.7 percent to 231.70 rand.

Hudaco Industries Ltd. (HDC SJ), a South African auto-parts manufacturer, advanced for a second day after saying first-half sales increased by 13 percent. The stock gained 2.8 percent to 109 rand.

Merafe Resources Ltd. (MRF SJ), part-owner with Xstrata Plc of the world’s biggest ferrochrome producer, declined after saying third-quarter European ferrorchrome contract prices have been settled at 7.4 percent lower than the previous quarter. The shares fell 1.3 percent to 79 cents.

Vukile Property Fund Ltd. (VKE SJ), which invests in South African real estate, rose to an eight-month high, adding 2.6 percent to 17.25 rand. The company said it plans to grow its portfolio “far more aggressively” after increasing its distribution to shareholders by 6.1 percent in the year through March.

To contact the reporter on this story: 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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