Bloomberg News

South African Stocks: Anglo, AngloGold, SABMiller, Sasol Move

September 02, 2011

Sept. 2 (Bloomberg) -- The FTSE/JSE Africa All Share Index broke a five-day winning streak, declining 569.20, or 1.8 percent, to 30,518.92 by the 5 p.m. close in Johannesburg. The index gained 3.7 percent this week.

The following were among the most active stocks in the South African market today.

Anglo American Plc (AGL SJ), the mining company that makes up about 9 percent of the benchmark stock index, dropped the most in more than two weeks, easing 8.96 rand, or 3.1 percent, to 282.35 rand. Copper fell after a report showed employment in the U.S. unexpectedly stagnated last month, fueling concern that a weaker economy may reduce demand for industrial materials.

BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, declined 5.98 rand, or 2.5 percent, to 231.85 rand.

AngloGold Ashanti Ltd. (ANG SJ), Africa’s biggest producer of the metal, gained the most in almost two weeks, rising 4.56 rand, or 1.4 percent, to 322.13 rand. Gold jumped the most in almost four weeks after a drop in industrial metals and equities lifted demand for haven assets.

Gold Fields Ltd. (GFI SJ), the continent’s second-largest gold producer, added 2.97 rand, or 2.6 percent, to 118.90 rand.

Harmony Gold Mining Co. (HAR SJ), Africa’s third-biggest gold company, closed at its highest in three weeks, appreciating 3.21 rand, or 3.4 percent, to 96.75 rand.

ArcelorMittal South Africa Ltd. (ACL SJ), Africa’s largest steelmaker, declined the most in more than a month, falling 2.57 rand, or 4.1 percent, to 59.70 rand. A structural failure at its gas cleaning plant in Newcastle on Aug. 5 cut expected output by 400,000 metric tons. The company secured 240,000 metric tons of steel to supply to customers, it said in an e-mailed statement today.

Optimum Coal Holdings Ltd. (OPT SJ), a coal producer, climbed to its highest in almost seven months, advancing 1.95 rand, or 5.8 percent, to 35.50 rand. Glencore International Plc, the company that has proposed a takeover of the local producer, said it had raised its stake in Optimum to 14.2 percent.

SABMiller Plc (SAB SJ), the world’s second-largest brewer by volume, fell for the first time in three days, dropping 4.68 rand, or 1.8 percent, to 253.50 rand. The company, which has made a hostile $10 billion bid for Foster’s Group Ltd., questioned the Australian brewer’s statements on its financial performance in a submission to the country’s Takeovers Panel.

Sasol Ltd. (SOL SJ), the world’s largest maker of motor fuel from coal, declined for the first day in six, falling 12.93 rand, or 3.8 percent, to 326 rand. Crude oil fell, paring its second weekly gain, after a the U.S. employment report raised concern that fuel consumption will drop in the world’s largest economy.

--Editors: Ana Monteiro, 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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