Bloomberg News

Anglo, AngloGold, Oando, Remgro: South African Equity Preview

July 29, 2011

July 29 (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 fell for a third day, closing at its lowest in a month as it dropped 147.60 points, or 0.5 percent, to 31,446.39 by 5 p.m. in Johannesburg.

Anglo American Plc (AGL SJ): South Africa’s biggest mining investor reports results for the six months ended June 30. The stock fell 1 percent to 327.40 rand.

AngloGold Ashanti Ltd. (ANG SJ): Unionized workers at AngloGold, Gold Fields Ltd. (GFI SJ) and Harmony Gold Mining Co. (HAR SJ), Africa’s largest producers of the metal, started a strike demanding pay increases of almost three times inflation. Shares in AngloGold fell 3.1 percent to 281.11 rand. Gold Fields ended unchanged at 103.50 rand. Harmony dropped 3.1 percent to 91.19 rand.

Anglo American Platinum Ltd. (AMS SJ): The world’s largest producer of the metal offered to raise employees’ pay to 6 percent for higher-category workers and 7 percent for lower- category employees at talks yesterday. The stock slipped 1.6 percent to 586.51 rand.

Oando Plc (OAO SJ): The Nigerian oil producer reported a 23 percent increase in profit to $43.7 million for the six months to June 30. The shares were unchanged at 2.45 rand.

Remgro Ltd. (REM SJ): The investment-holding company said earnings excluding one-time items were expected to be at least 20 percent higher in the 15 months through June compared with the 12 months through March 2010. The increase is mainly because of the extension of the reporting period by three months, it said in a trading statement. Shares in the company rose 1 percent to 112.28 rand.

--Editors: Ana Monteiro, 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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