Bloomberg News

South Africa Stocks: Anglo, AngloGold, Bidvest, First Uranium

July 06, 2011

July 6 (Bloomberg) -- The FTSE/JSE Africa All Share Index fell for the first day in nine, ending its longest winning streak in more than 1 1/2 years, dropping 48.49, or 0.2 percent, to 32,205.75 by 12:26 p.m. in Johannesburg.

The following are 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, declined for the first time in nine days, dropping 1.84 rand, or 0.5 percent. Copper for three-month delivery fell 0.5 percent to $9,494 a metric ton on the London Metal Exchange, declining as China raised interest rates. The company said copper production at its Collahuasi mine in Chile’s Atacama Desert had been affected by snowstorms and rain.

AngloGold Ashanti Ltd. (ANG SJ), Africa’s largest gold producer, gained for a second day, rising 6.60 rand, or 2.4 percent, to 285.95 rand. The spot price of gold rose to the highest in almost two weeks, increasing as much as 0.2 percent to $1,518.75 an ounce.

Gold Fields Ltd. (GFI SJ), Africa’s second-biggest producer of the metal, added 2.98 rand, or 3.1 percent, to 99.98 rand.

Harmony Gold Mining Co. Ltd. (HAR SJ), the third-largest producer, increased 1.91 rand, or 2.2 percent, to 87.91 rand.

Bidvest Group Ltd. (BVT SJ), a diversified management group, rose to its highest since at least August 1990, according Bloomberg records, adding 9.86 rand, or 6.4 percent, to 164.40 rand. The group said it received “unsolicited proposals” for its Foodservice business.

Brait SA (BAT SJ), South Africa’s largest private equity company, headed for its highest close since May 11, rising 37 cents, or 2.2 percent, to 17.07 rand. The company said it had completed its 6.4 billion-rand ($947.6 million) capital raising and had 1.7 billion rand available for future investments

Coal of Africa Ltd. (CZA SJ), a producer of coal in South Africa, gained the most since October 2008, surging 1.68 rand, or 21 percent, to 9.77 rand. The company said it will resume mining at its Vele project after getting environmental approval for the venture, located near a United Nations World Heritage site.

First Uranium Corp. (FUM SJ), a Toronto-based company that mines gold as well as uranium, jumped 15 cents, or 4 percent, to 3.85 rand. The company said it will list rand notes on the JSE Ltd. from July 15.

--Editors: John Kohut, Stephen Kirkland.

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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