South African Equity Preview: Illovo Sugar, Tiger Brands, Tongaat May Move
The following stocks may rise or fall in South Africa. Symbols are in parentheses and prices are from the last close.
The FTSE/JSE Africa All Share Index rose 404.30, or 1.3 percent, to 32,384.41.
Cadiz Holdings Ltd. (CDZ) : The owner of a stock broker and money manager may release fiscal full-year results. Cadiz on May 5 said earnings per share in the 12 months ended March 31 declined between 40 percent and 44 percent. Cadiz rose 1 cent, or 0.4 percent, to 2.86 rand.
Illovo Sugar Ltd. (ILV) : Africa’s biggest producer of the commodity said fiscal full-year net income declined to 546.2 million rand ($79 million) from 662 million rand a year earlier. Illovo advanced 19 cents, or 0.7 percent, to 25.90 rand.
Tiger Brands Ltd. (TBS) : South Africa’s largest food company said per-share earnings for the year through March jumped to 736.6 cents compared with 650.5 cents a year earlier. The stock advanced 2.31 rand, or 1.2 percent, to 188.51 rand.
Tongaat Hulett Ltd. (TON) : The sugar producer said fiscal full-year earnings excluding one-time items declined to 806 million rand from 815 million rand a year earlier. The share increased 12 cents, or 0.1 percent, to 90.50 rand.
The following shares begin trading today without rights to their latest dividends:
Afrimat Ltd. (AFT SJ), Barloworld Ltd. (BAW SJ), Basil Read Holdings Ltd. (BSR SJ), Capital Shopping Centers Group Plc (CSO SJ), ELB Group Ltd. (ELR SJ), Life Healthcare Group Holdings Ltd. (LHC SJ), Mvelaphanda Resources Ltd. (MVL SJ) and Oasis Crescent Property Fund Ltd. (OAS SJ).
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