Bloomberg News

Lonmin, Mercantile, Pinnacle: South African Equity Preview

July 05, 2011

July 5 (Bloomberg) -- The following stocks may rise or fall in South Africa today. Symbols are in parentheses and prices are from the last close.

The FTSE/JSE Africa All Share Index rose for a seventh day to its highest close in more than a month, adding 152.32, or 0.5 percent, to 32,077.79 in Johannesburg.

Afgri Ltd. (AFR SJ): The handler of about a third of South Africa’s grain said its subsidiary, GroCapital Financial Services (Pty) Ltd., was in talks to dispose of its farmers’ lending book to the Land and Agricultural Development Bank of South Africa. Shares added 11 cents, or 1.7 percent, to 6.70 rand.

Lonmin Plc (LON SJ): South Africa’s third-largest platinum producer hosts a media tour of its Marikana mine and smelting operations near Rustenburg, South Africa. The stock gained 70 cents, or 0.5 percent, to 157 rand.

Mercantile Bank Holdings Ltd. (MTL SJ): The lender, which is currently a takeover target by Bidvest Group Ltd., said its purchase of 51 percent of Multi Risk Investment Holdings (Pty) Ltd. was implemented on July 1. Shares rose 1 cent, or 3 percent, to 31 cents.

Pinnacle Technology Holdings Ltd. (PNC SJ): The computer and networking group said it would buy a further 40 percent stake in Datanet Infrastructure Group (Pty) Ltd. for 16.8 million rand ($2.5 million). The stock gained 28 cents, or 3.1 percent, to 9.35 rand.

--Editors: John Kohut, Ana Monteiro.

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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