South African Stock Movers: Cashbuild, Imperial, Assore, Lonmin
FTSE/JSE Africa All-Share Index falls 0.1% by 1:15 p.m. in Johannesburg with 78 advancers, 68 decliners and 15 unchanged.
ADVANCERS * Cashbuild Ltd. (CSB SJ) +1.1%; heads for highest close since Sept. 13; profit up 82% to 293 million rand ($36 million) in 53 weeks through June. * Imperial Holding Ltd. (IPL SJ) +2.5%; snaps three days of losses. Company acquired healthcare companies including RTT Medical, RTT Trans Africa, RTT Consumer Health and RTT Essentials for 500 million rand. DECLINERS * Assore (ASR SJ) -1.9%; first decline in six days; Australia, the world’s biggest iron-ore exporter, reduced its price forecasts for this year and next on concern that a slowing economy in China, the largest buyer, will curb demand growth * Lonmin (LON SJ) -3.1%; snapping three days of gains; company’s pay offer and striking workers’ reduced demands remain “far apart,” government mediator Afzul Soobedaar said * Pick n Pay Stores (PIK SJ) -2.2%; the grocer said it’s not in talks to sell a stake to Royal Ahold after reports that the Dutch company had abandoned negotiations due to price
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