Oct. 29 (Bloomberg) -- Kapsch TrafficCom AG, an Austrian maker of road-toll systems that’s a supplier to the South African road operator, rose by the most in two months after South Africa’s government said it will proceed with plans for toll roads around Johannesburg and Pretoria.
Kapsch rose as much as 5 percent, the biggest increase since Aug. 31 and traded 4.6 percent higher at 43.95 euros by 11:39 a.m. in Vienna. The stock capped four straight sessions of losses, which saw it lose 10 percent. The Vienna bourse was closed for a holiday Oct. 26.
South Africa last week said the South African National Roads Agency SOC Ltd., could start electronic road tolls following a 30-day public consultation over the plan. The government cut planned fees to quell opposition from labor unions and consumer groups.
“It’s positive because they also announced the launch of the system,” said Daniel Lion, an analyst at Erste Group Bank AG in Vienna, who recommends buying Kapsch shares. “The fact that the fees are lowered has an impact for Kapsch only in the Czech Republic, where some bonus payments are linked to the toll revenue.”
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