South Africa Stocks: 1time, Anglo, BHP, Mvelaserve, Trencor
The FTSE/JSE Africa All Share Index (JALSH) advanced for the fourth time in five days, gaining 0.8 percent to 34,175.39 by the close in Johannesburg.
The following were among the most active equities in the South African market today. Stock symbols follow company names.
1time Holdings Ltd. (1TM) (1TM SJ), a South African low-cost airline and technical maintenance company, fell to the lowest in almost four weeks, dropping 5 percent to 19 cents. Rodney James quit as chief executive officer of 1time Airline (Pty) Ltd. and Executive Director Michael Kaminski also resigned, the company said in a statement today, without giving reasons for the resignations.
Anglo American Plc (AAL) , the diversified miner that makes up about 9 percent of the index, added 0.8 percent to 307.35 rand, erasing yesterday’s decline. Copper climbed to the highest price in more than a week on speculation an accelerating economic recovery in the U.S., the world’s second-biggest consumer of the metal, will fuel demand.
BHP Billiton Ltd. (BIL) , the world’s biggest miner, gained 1.8 percent to 242.36 rand, the highest in more than a week.
Mvelaserve Ltd. (MVS) , a securities and facilities management company, fell the most since its listing on the stock exchange in November 2010. Earnings per share for the six months through December will be as much as 85 percent lower than a year earlier, the company said today.
Trencor Ltd. (TRE) , an investment company, increased to 42.3 rand, the highest level since at least August 1990, when Bloomberg started compiling data. Non-executive director Herman Wessels bought 25,000 shares on March 9, boosting confidence in the stock, Hennie Fourie, a portfolio manager at PSG Konsult, said by telephone from Pretoria.
York Timber Holdings Ltd. (YRK) climbed to its highest in more than seven weeks, advancing 0.8 percent to 3.65 rand, after the sawmill operator said earnings per share excluding one-time items more than doubled to 13 cents in the six months through December from a year earlier.
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