Bloomberg News

African Dawn, Erbacon, Insimbi: South African Equity Preview

October 06, 2011

Oct. 7 (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 closed at its highest in more than a week, gaining 420.31, or 1.4 percent, to 29,888.87 by the 5 p.m. close in Johannesburg.

African Dawn Capital Ltd. (ADW SJ): The financial-services company holds its annual general meeting. The shares fell 25 percent to 9 cents.

Erbacon Investment Holdings Ltd. (ERB SJ): The civil- engineering company expects to announce a loss per share of as much as 44.13 cents when it releases results for the six months to Aug. 31., it said in a trading statement on Oct. 5. The stock closed unchanged at 62 cents.

Insimbi Refractory & Alloy Supplies Ltd. (ISB SJ): The foundry-supplies company reports results for the six months to Aug. 31. Earnings per share fell as much as 10 percent, the company said in a trading update on Sept. 12. The stock climbed 24 percent to 51 cents.

Miranda Mineral Holdings Ltd. (MMH SJ): The minerals explorer said the prospecting right for its Rozynenbosch lead, silver and zinc deposit in South Africa’s Northern Cape province was awarded to a third party in 2007 and would be removed as an asset from its balance sheet, resulting in a reduction in the company’s net asset value per share of as much as 89 percent. The stock fell 6.9 percent to 27 cents.

Raubex Ltd. (RBX SJ): The South African road builder holds its annual general meeting. Shares in the company declined 0.7 percent to 13.50 rand.

--Editor: Ana Monteiro

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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