Bloomberg News

South African Equities: Anglo, Brait, Kumba, Naspers, PPC

November 09, 2011

Nov. 9 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined for the first time in three days, sliding 351.22, or 1.3 percent, to 32,252.34 by 12:17 p.m. in Johannesburg.

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 six days, dropping 1.3 percent to 304.20 rand. Copper for three-month delivery fell as much as 1.5 percent in London, reversing an earlier gain.

BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, slid 1.6 percent to 253 rand.

Brait SA (BAT SJ), South Africa’s largest private equity company, headed for its highest close in eight months, advancing 0.8 percent to 19.71 rand. Earnings per share rose fourfold to 346 cents in the six months to Sept. 30, the company said in a regulatory filing.

Kumba Iron Ore Ltd. (KIO SJ), an iron ore-producing unit of Anglo American, declined for the first day in six, sliding 1.2 percent to 501 rand. The stock was downgraded to “underperform” from “neutral” at Credit Suisse AG with a price estimate of 400 rand per share.

Naspers Ltd. (NPN SJ), Africa’s largest media group, fell for a second day, dropping 2.1 percent to 371.80 rand. Tencent Holdings Ltd., the Chinese Internet company in which Naspers has a 34 percent stake, missed analyst estimates for third-quarter profit after increasing spending to develop new services.

Pretoria Portland Cement Co. (PPC SJ), South Africa’s biggest cement producer, headed for its highest close in more than three months, gaining 1.4 percent to 26 rand. The stock was raised to “hold” from “sell” at Deutsche Bank AG with a 12- month price estimate of 27.50 rand.

--Editors: Linda Shen, Wojciech Moskwa

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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