Bloomberg News

South African Stocks: Anglo, BHP, AngloGold, Impala, Telkom

June 29, 2011

June 29 (Bloomberg) -- The FTSE/JSE Africa All Share Index rose for a fourth day, adding 434.65, or 1.4 percent, to 31,726.30 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 the benchmark stock index, rose to its highest close in four weeks, gaining 6.29 rand, or 1.9 percent, to 331.50 rand. Commodity prices advanced, with copper climbing a second day in London. Other metals, including aluminum, lead, nickel and tin, also increased.

BHP Billiton Plc (BIL SJ), the world’s biggest mining company, jumped for a fourth day, adding 5.79 rand, or 2.2 percent, to 264.39 rand.

AngloGold Ashanti Ltd. (ANG SJ), Africa’s biggest gold miner, rallied for a second day, gaining 6.99 rand, or 2.5 percent, to 287.99 rand. Gold rose a second day.

Gold Fields Ltd. (GFI SJ), the continent’s second-biggest producer of the metal, climbed to its highest close in almost three weeks, adding 1.95 rand, or 2 percent, to 99.46 rand.

Harmony Gold Mining Co. Ltd. (HAR SJ), Africa’s third- largest producer, ended trading at the highest level since June 7, increasing 2.84 rand, or 3.2 percent, to 90.77 rand.

DRD Gold Ltd. (DRD SJ), South Africa’s fourth-largest producer of the metal, advanced 8 cents, or 2.6 percent, to 3.22 rand.

Impala Platinum Holdings Ltd. (IMP SJ), the world’s second- largest platinum producer, rose for a fourth day, increasing 3 rand, or 1.7 percent, to 184 rand. Chief Executive Officer David Brown said palladium may trade at around $700 to $800 an ounce in the next six months or so. Platinum may trade at levels higher than $2,000 an ounce, he said in a speech yesterday.

Murray & Roberts Holdings Ltd. (MUR SJ), South Africa’s second-biggest construction company, had its biggest one-day gain in four months, adding 1.88 rand, or 6.8 percent, to 29.70 rand. The company said its cash position will show “significant improvement” and net debt will decline as the Gauteng project nears completion and after it reached agreement with Hitachi Ltd. and Eskom Holdings Soc Ltd. about costs and cash flows relating to power station construction.

Sentula Mining Ltd. (SNU SJ), fell for the first day in five, dropping 7 cents, or 2.5 percent, to 2.70 rand. The coal- mining company said in a statement it has been advised that shareholders of Shanduka Group Ltd. have not approved a planned exchange of shares and would not approve the plan by the June 30 deadline.

Telkom SA Ltd. (TKG SJ), Africa’s largest fixed-line phone operator, rose to the highest closing level in two weeks, gaining 91 cents, or 2.6 percent, to 36.36 rand. The group said it reached an agreement through which an affiliate of Helios Towers Nigeria Ltd. will acquire full ownership and control of a unit in the West African nation.

--Editors: Linda Shen, Gavin Serkin

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

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


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