Bloomberg News

Racec, Sanlam Group, Telkom : South African Equities Preview

June 08, 2011

June 8 (Bloomberg) -- 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 rose for a second day, adding 240.27, or 0.8 percent, to 31,818.30 at the 5 p.m. close in Johannesburg.

Racec Group Ltd. (RAC SJ): The rail and civil engineering company publishes earnings statements for the first half through March. Racec expects per share earnings of as much as 3.1 cents, compared to a loss of 2 cents a share in year earlier, it said on May 9. Racec was unchanged at 43 cents.

Sanlam Group Ltd. (SLM SJ): The largest South Africa-based insurer publishes its operational update for the four months through April. The chief executive officer, Johan van Zyl, will then host a conference call for investors, analysts and the media. Sanlam, which also holds a shareholders’ meeting, gained 39 cents, or 1.4 percent, to 27.63 rand.

Telkom South Africa Ltd. (TKG SJ): Africa’s largest fixed- line company said a Nigerian court has found against its subsidiary, Multi-Links, in a $252 million contractual dispute with Helios Towers Nigeria, a company owned by Helios Investment Partners LLP, according to a regulatory statement. Telkom’s shares increased 50 cents, or 1.4 percent, to 36.70 rand.

--Editor: Ana Monteiro

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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