Bloomberg News

South African Equities: Harmony, Naspers, Optimum Coal, Wescoal

November 16, 2011

Nov. 16 (Bloomberg) -- The FTSE/JSE Africa All Share Index snapped a four-day winning streak, declining 1.51, or less than 0.1 percent, to 32,672.67 at the 5 p.m. close in Johannesburg.

The following were among the most active stocks in the South African market today.

BHP Billiton Ltd. (BIL SJ), the world’s largest mining group, fell 0.9 percent to 252.01 rand. The company will invest $822 million in developing an iron ore mine in Western Australia.

Harmony Gold Mining Co. Ltd. (HAR SJ), South Africa’s third-biggest producer of the metal, declined for the first day in four, retreating 0.7 percent to 113 rand. The company said it suspended operations at its Kusasalethu mine after a “fall of ground” incident injured two workers and trapped another.

Naspers Ltd. (NPN SJ), Africa’s largest media group, fell 1.6 percent to 365 rand after saying it expects earnings per share for the six months through September to be 40 percent to 50 percent lower than the prior period’s 921 cents.

Optimum Coal Holdings Ltd. (OPT SJ), South Africa’s fourth- biggest exporter of the fuel, fell the most in more than a month, declining 4.1 percent to 35.50 rand after saying Glencore International Plc unit Piruto B.V. and Lexshell 849 Investments, owned by Cyril Ramaphosa, will postpone a take-over offer for the company until it has antitrust approval for transactions it had already entered into.

Sentula Mining Ltd. (SNU SJ), a South African provider of services to mining companies, dropped the most in six weeks after saying it expects to report a loss of as much as 38.97 cents a share for the six months through September. The shares tumbled 5.1 percent to 2.03 rand, a two-year low.

Wescoal Holdings Ltd. (WSL SJ), a South African coal miner, rose 5.9 percent to 72 cents after saying it expects earnings per share to be between 9.2 cents and 11.2 cents in the six months through September, from 8.1 cents.

--Editors: Peter Branton, Linda Shen

To contact the reporters on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net Jana Marais in Johannesburg at jmarais@bloomberg.net Robert Brand in Cape Town at rbrand9@bloomberg.net

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


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