South African Stocks: Anglo, Calgro M3, Mvelaphanda Group, Sappi
The FTSE/JSE Africa All Share Index advanced 62.53, or 0.2 percent, to 31,783.90 by the 5 p.m. close in Johannesburg, paring the year’s losses to 1 percent.
The following are among the most active stocks in the South African market today. Stock symbols follow company names.
Anglo American Plc (AGL) , the mining company that makes up more than 9 percent of the benchmark stock index, advanced 1.3 percent to 300.50 rand. Copper rose in New York after a report showed U.S. housing starts rose last month, boosting the outlook for metals. Separately, the company announced the commissioning of the third of its four major growth projects in 2011 with the Kolomela development, five months ahead of schedule.
BHP Billiton Ltd. (BIL) , the world’s biggest miner, added 1.1 percent to 239 rand.
Calgro M3 Holdings Ltd. (CGR) , a housing developer, jumped the most in three weeks, 6.8 percent to 3.15 rand. The company agreed to a 1.3 billion rand ($155 million) joint venture to develop and manage an integrated housing project at Belhar in Cape Town, Business Day reported, citing Chief Executive Officer Ben Pierre Malherbe.
Mvelaphanda Group Ltd. (MVG) , an investment company, dropped to a two-week low, sliding 2.3 percent to 3.40 rand. Blackstar Group SE abandoned its plan to buy Mvelaphanda after investors owning more than 20 percent of the company’s stock opposed the plan.
Sappi Ltd. (SAP) , the world’s largest maker of glossy paper, retreated for a seventh day, declining 2.1 percent to 23.38 rand. The company plans to cut jobs at four South African paper mills, potentially affecting 959 employees, the Solidarity labor union said in an e-mailed statement today.
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