Bloomberg News

South African Equities: Anglo, Billiton, Coal of Africa, Sasol

July 29, 2011

July 29 (Bloomberg) -- The FTSE/JSE Africa All Share Index fell for a fourth day, dropping 238.35 points, or 0.8 percent, to 31,208.04 by the 5 p.m. close in Johannesburg, bringing this week’s decline to 2.5 percent. The index fell 2.1 percent in July.

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, retreated for a third day, losing 7.39 rand, or 2.3 percent, to 320.01 rand. Underlying earnings for the six months to June 30 climbed to $3.1 billion, or $2.58 a share, from $2.2 billion, or $1.84 a share, a year earlier, falling short of the $2.63 mean estimate of eight analysts surveyed by Bloomberg News.

BHP Billiton Ltd. (BIL SJ), the world’s biggest mining group, fell to its lowest in more than a month, sliding 3.24 rand, or 1.3 percent, to 250.51 rand. Copper fell in London on concern about a potential U.S. default after lawmakers failed to reach agreement on raising the debt ceiling. Workers at the group’s Escondida unit in Chile pledged to extend their week- long strike that’s halted shipments from the world’s biggest copper mine and helped push up prices for the metal.

Coal of Africa Ltd. (CZA SJ), a producer of coal, closed at its lowest since Dec. 2, slumping 18 cents, or 2.2 percent, to 8.04 rand. The group said the integrated water-use license for its Vele colliery has been suspended after an appeal by a coalition of non-governmental organizations.

Dorbyl Ltd. (DLV SJ), a mechanical engineering company, closed at its highest in almost two months, rising 40 cents, or 16 percent, to 2.85 rand. The group was successful in a high court claim against a former director regarding undisclosed gains by the director, it said in a regulatory announcement.

Harmony Gold Mining Co. (HAR SJ), Africa’s third-largest gold producer, fell for a fourth day, slipping 44 cents, or 0.5 percent to 90.75 rand. The group said a strike at its South African gold mines has had a “major impact” on production.

Sasol Ltd. (SOL SJ), the world’s largest maker of motor fuel from coal, closed at its lowest since December, falling 4.10 rand, or 1.2 percent, to 335.90 rand. Oil slumped as much as 2.6 percent to $94.95 a barrel in New York on concern a failure to reach a deal on raising the U.S. debt limit may cause the nation to default, threatening the economy of the world’s biggest crude consumer.

Tongaat Hulett Ltd. (TON SJ) closed at its highest in a week, rising 1.97 rand, or 2.1 percent, to 94 rand. The country’s second-largest sugar producer said sugar production in South Africa, Mozambique and Zimbabwe will increase.

Trustco Group Holdings Ltd. (TTO SJ) rose for a second day, adding 5 cents, or 5.9 percent, to 90 cents. Revenue increased 25 percent to 147.4 million Namibian dollars ($22 million) in the three months to June 30, the property development and financial services group said in a trading statement.

--Editors: John Kohut, Linda Shen.

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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