Bloomberg News

South African Stocks: Anglo American, Bidvest, Brait, Chrometco

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. The gauge dropped 123.53, or 0.4 percent, to 32,130.71 by 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, declined for the first time in nine days, dropping 2.26 rand, or 0.7 percent, to 335.99 rand. Copper for three-month delivery fell 0.5 percent to $9,494 a metric ton on the London Metal Exchange after 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.

Bidvest Group Ltd. (BVT SJ), a diversified management group, rose to its highest since at least August 1990, according Bloomberg records, adding 7.46 rand, or 4.8 percent, to 162 rand. The group said it received “unsolicited proposals” for its Foodservice business.

Brait SA (BAT SJ), South Africa’s largest private equity company, climbed 25 cents, or 1.5 percent, to 16.95 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

Chrometco Ltd. (CMO SJ), a chrome development company, added 6 cents, or 20 percent, to 36 cents. A special resolution to dispose of the Rooderand subsidiaries to DCM Chrome was not passed by shareholders at a general meeting today.

Coal of Africa Ltd. (CZA SJ), a producer of coal, gained the most since October 2008, surging 1.50 rand, or 19 percent, to 9.59 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.

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. The spot price of gold rose to the highest in almost two weeks, increasing as much as 1.6 percent to $1,533.88 an ounce.

Harmony Gold Mining Co. Ltd. (HAR SJ), the third-largest producer, increased 2.19 rand, or 2.6 percent, to 88.19 rand.

--Editors: John Kohut, Linda Shen.

To contact the reporters on this story: Lauren van der Westhuizen in Cape Town Nef at lvanderwesth@bloomberg.net; Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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