Bloomberg News

South African Stocks: Anglo, Capitec, Exxaro, Harmony, Kumba

November 01, 2011

Oct. 31 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined for the first time in seven days, slipping 410.82, or 1.3 percent, to 32,483.29 by 12:41 p.m. in Johannesburg. The gauge has gained 9.5 percent in October, heading for its biggest monthly advance since July 2009.

The following are 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, fell for the first time in four days, sliding 2.2 percent to 302.10 rand. Copper declined, trimming the biggest monthly advance since December and leading a retreat in industrial metals, after Chinese Premier Wen Jiabao said the government will maintain property curbs and the dollar jumped.

BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, dropped 2.6 percent to 252.78 rand.

Capitec Bank Holdings Ltd. (CPI SJ), South Africa’s fastest-growing bank, headed for its lowest close in almost two months, declining 4.2 percent to 182 rand. The lender plans to raise capital to fund growth by issuing 4.6 million new shares.

Country Bird Holdings Ltd. (CBH SJ), a chicken producer, advanced to its highest in more than two weeks, climbing 3.5 percent to 4.40 rand. The company repaid 200 million rand ($26 million) in borrowings from major shareholder Synapp International, allaying concern that the loan would be converted to equity.

Exxaro Resources Ltd. (EXX SJ), the coal miner that exports about 42 percent of its production, dropped for the first time in three days, sliding 2.5 percent to 178.49 rand. Coal export prices at Richards Bay, Africa’s biggest terminal for shipping the fuel, fell to the lowest level this year, according to data on Bloomberg from researcher IHS McCloskey. Separately, Morgan Stanley cut its price estimate for the company to 204 rand from 209 rand.

Harmony Gold Mining Co. (HAR SJ), the continent’s third- largest gold company, headed for its highest close in more than 2 1/2 years, surging 3.3 percent to 106.38 rand. Fiscal first- quarter profit excluding one-time items jumped more than threefold as the price of the precious metal surged from a year earlier.

JD Group Ltd. (JDG SJ), a South African furniture retailer, advanced for a fifth day, rising 1.2 percent to 44.65 rand. Earnings per share are expected to be as much as 34 percent higher in the year to Aug. 31 from a year earlier.

Mondi Ltd. (MND SJ), Europe’s largest maker of office paper, declined 1.4 percent to 60.49 rand. The company said global economic uncertainties in the third quarter resulted in slowing demand and “moderately lower” sales prices.

Kumba Iron Ore Ltd. (KIO SJ), an iron ore-producing unit of Anglo American, slid for the first day in three, dropping 1.7 percent to 468.62 rand. Morgan Stanley cut its price estimate for the company to 469 rand from 479 rand.

Tiger Brands Ltd. (TBS SJ), South Africa’s largest food company, snapped four days of gains, dropping 1.7 percent to 227.63 rand. The stock was cut to “equal weight” from “overweight” by analysts at Morgan Stanley.

--Editors: Ana Monteiro, Peter Branton

To contact the reporters 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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