Bloomberg News

Argent, Alert Steel, Avusa: South African Equities Preview

September 28, 2011

Sept. 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 declined, losing 413.37, or 1.3 percent, to 30,339.03 by the 5 p.m. close in Johannesburg, extending its drop this quarter to 4.8 percent.

Argent Industrial Ltd. (ART SJ): The investment-holding company holds an annual general meeting. The stock retreated 14 cents, or 2 percent, to 6.91 rand.

Alert Steel Holdings Ltd. (AET SJ): The seller of steel, building and hardware materials is expected to release its results for the year through June today. The shares lost 1 cent, or 7.1 percent, to 13 cents.

Avusa Ltd. (AVU SJ): The media company that owns South Africa’s Sunday Times said Group Chief Executive Officer Prakash Desai will resign on Oct. 3. Michael Robertson will act in his position. The stock advanced 1 cent, or less than 0.1 percent, to 22.51 rand.

--Editors: Linda Shen, Emily Bowers

To contact the reporter on this story: ana Monteiro in Johannesburg at Amonteiro4@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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