AfroCentric, Arcelor, Exxaro: South African Equity Preview
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 fell for a fourth day, declining 342.65, or 1.1 percent, to 29,718.56 by the 5 p.m. close in Johannesburg.
AfroCentric Investment Corp. (ACT SJ): The investment company with interests in private healthcare, electronics and mining announces results for the 12 months to June 30. Earnings per share excluding extraordinary items will be as much as 75 percent higher than the previous year, the company said in a trading statement on Sept. 16. The stock closed unchanged at 2 rand.
Alert Steel Holdings Ltd. (AET) : The seller of steel, building and hardware materials holds a general meeting following its proposed 50 million rand ($6.2 million) rights offer. Shares in the company were steady at 14 cents.
ArcelorMittal South Africa Ltd. (ACL) : Africa’s largest steelmaker said it will lose an estimated 445,000 metric tons of output following a structural failure of its gas-cleaning plant at its Newcastle facility, resulting in a financial loss of 1.1 billion rand. The stock gained 1.9 percent to 58.39 rand.
Exxaro Resources Ltd. (EXX) : The coal and iron ore miner holds a teleconference with investors and the media to discuss the proposed deal with U.S.-based Tronox Inc. to combine their mineral sands operations in a business valued at 27.8 million rand ($3.3 million). Shares in the company fell 2.1 percent to 175.22 rand.
Holdsport Ltd. (HSP SJ): The sports equipment retailer announces results for the six months through Aug. 31. Earnings per shares rose more than 20 percent, the company said in a trading statement on Sept. 14. The shares dropped 4.5 percent to 30.07 rand.
Jasco Electronics Holdings Ltd. (JSC) : The telecommunications company releases results for the year through June. Earnings excluding the purchase of Spescom Ltd. rose as much as 30 percent, the company said in a trading statement on Sept. 19. Shares in the company closed unchanged at 92 cents.
Pinnacle Point Group Ltd. (PNG) : The property and golf- resorts developer, said an application by Cape Point Vineyards Ltd. to wind up the group would be heard in the Cape High Court today. The stock was unchanged at 1 cent.
Rare Holdings Ltd. (RAR) : The maker of pipes and valves said it will report a basic loss per-share of as much as 92.2 cents for the year to June 30. The shares closed unchanged at 21 cents.
Wesizwe (WEZ) Platinum Ltd. (WEZ SJ): The explorer of the metal releases results for the six months to June 30 and will report a loss per share of as much as 39 cents, it said in a trading statement on Sept 8. Shares in the company dropped 2.2 percent to 1.76 rand.
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