Bloomberg News

South African Stocks: Anglo, AVI, Coal of Africa, Invicta, Sasol

November 02, 2011

Nov. 1 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined the most in four weeks, falling 624.32, or 1.9 percent, to 31,724.11 by the 5 p.m. close in Johannesburg, a second day of losses. The gauge gained 9 percent in October, the biggest monthly advance since July 2009.

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, closed at its lowest in a week, sliding 2.7 percent to 289.10 rand. Copper fell the most in more than a week as a planned referendum on Greece’s bailout fueled concern that Europe’s debt crisis will worsen, dimming prospects for demand. Nickel and aluminum led losses among commodities.

BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, dropped 2.4 percent to 246.38 rand.

AVI Ltd. (AVI SJ), South Africa’s third-largest consumer goods company, advanced for a fourth day, climbing 1.4 percent to 36.10 rand. Group revenue from continuing operations for the quarter ended Sept. 30 was 11 percent higher than a year earlier due to “improved sales volumes in most key categories,” the company said.

BSI Steel Ltd. (BSS SJ), a steel trader and processor, closed at its highest in almost two months, gaining 1.6 percent to 65 cents. Earnings per share rose as much as 125 percent in the six months through September, the company said in a trading statement.

Coal of Africa Ltd. (CZA SJ), a coal producer, snapped a three-day winning streak, dropping 1.8 percent to 6.95 rand. Sales of export coal fell 44 percent to 277,499 metric tons in the three months to September as demand declined, the company said in a regulatory filing.

Invicta Holdings Ltd. (IVT SJ), a seller of ball bearings and transmission equipment, rose to a record, climbing 8.3 percent to 52 rand. Earnings per share for the six months to Sept. 30 rose as much as 35 percent, the company said in a trading update yesterday.

Sasol Ltd. (SOL SJ), the biggest producer of gasoline from coal, slid for a third day, falling 3.1 percent to 347 rand. Oil dropped in New York on speculation commodity demand will falter as Chinese manufacturing slows and European leaders struggle to contain the region’s debt crisis.

--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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