Bloomberg News

Discovery Holdings, Alexander Forbes: South Africa Stock Preview

September 01, 2011

Sept. 1 (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 stock index rose 640.37, or 2.1 percent, to 31,005.50 in Johannesburg.

Alexander Forbes Ltd. (AFP SJ): The pension fund administrator said it agreed to merge its broking business with Marsh Ltd., the insurance business of New York-based Marsh & McLennan Cos., and sell some other units to the company for as much as 1.12 billion rand ($160 million). The shares dropped 30 cents, or 3.8 percent, to 7.60 rand

Discovery Holdings Ltd. (DSY SJ): South Africa’s largest medical insurance administrator reports results for the year ended June 30. The company said on Aug. 24 earnings per share rose as much as 55 percent. The stock gained 26 cents, or 0.7 percent, to 38.25 rand.

Murray & Roberts Holdings Ltd. (MUR SJ): The construction company will be in a “significantly better” cash position by the end of June 2012, Chief Executive Officer Henry Laas said in an interview with Bloomberg. The company said earlier it expected a first-half net-cash loss and has halted dividends. The shares gained 16 cents, or 0.6 percent, to 27.81 rand.

--Editors: Stephen Kirkland, Vernon Wessels

To contact the reporter on this story: Robert Brand in Cape Town Nef at rbrand9@bloomberg.net

To contact the editor responsible for this story: Stephen Kirkland at skirkland@bloomberg.net


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