Bloomberg News

South African Equities: Anglo American, First Uranium, Richemont

June 06, 2011

June 6 (Bloomberg) -- The FTSE/JSE Africa All Share Index snapped a three-day losing streak, rising 2.38, or less than 0.1 percent, to 31,578.03 at the 5 p.m. close in Johannesburg.

The following were among the most active stocks in the South African market today.

Anglo American Plc (AGL SJ), the diversified mining company that makes up 10 percent of South Africa’s benchmark stock index, snapped three days of losses, gaining 3.42 rand, or 1.1 percent, to 328.01 rand. Copper rose for a third day in New York as disrupted output at a mine run by Codelco, the world’s biggest producer of the metal, stoked concern supply might run short of demand.

Cie. Financiere Richemont SA, (CFR SJ), the maker of luxury watches, fell for a fourth day, losing 47 cents, or 1.1 percent, to 43.50 rand. The company’s Piaget brand plans to raise prices in July to help gradually offset higher costs from the strength of the Swiss franc, Piaget Chief Executive Officer Philippe Leopold-Metzger said today at a conference on the luxury industry in Lausanne, Switzerland.

First Uranium Corp. (FUM SJ), a Toronto-based company that also mines gold, declined to the lowest level since at least April 2007, losing 15 cents, or 3 percent, to 4.85 rand. The company reported a pretax loss of $76 million, from a loss of $94 million a year earlier, First Uranium said in a regulatory statement today.

--Editors: Ana Monteiro, Linda Shen

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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