Bloomberg News

South African Stocks: African Rainbow, AngloGold, Firestone Move

December 07, 2011

Dec. 7 (Bloomberg) -- The FTSE/JSE Africa All Share Index advanced 113.34, or 0.4 percent, to 32,832.57 by 10:09 a.m. in Johannesburg, reversing yesterday’s 0.3 percent decline.

The following are among the most active stocks in the South African market today. Stock symbols follow company names.

African Rainbow Minerals Ltd. (ARI SJ), a diversified mining group, rose 0.6 percent to 178.10 rand. Copper advanced on speculation that European leaders will step up their efforts to contain the sovereign-debt crisis at a two-day summit this week, boosting the demand outlook for base metals.

AngloGold Ashanti Ltd. (ANG SJ), Africa’s biggest gold producer, rose for the first time in four days, gaining 1.5 percent to 375 rand. Gold gained after exchange-traded product holdings climbed to a record and speculation that European leaders are making progress in containing the debt crisis boosted the euro and equities.

Gold Fields Ltd. (GFI SJ), the second-largest producer of the metal, climbed 2.6 percent to 136.43 rand.

Harmony Gold Mining Co. Ltd. (HAR SJ), the No. 3 producer, gained 2.8 percent to 113.94 rand.

Firestone Energy Ltd. (FSE SJ), an Australian exploration company with operations in South Africa, climbed the most on record, surging 57 percent to 11 cents. The company said funding for Sekoko Resources Ltd., its partner in the Waterberg Coal Joint Venture, remains in place.

Platmin Ltd. (PLN SJ), a platinum miner, advanced for the first time in three days, gaining 2.5 percent to 1.64 rand. The company plans to relist on the JSE Ltd. in South Africa next year after next week delisting from both the Johannesburg and Toronto bourses, Business Day reported, citing Arne Frandsen, a non-executive director.

--Editors: Peter Branton, Ash Kumar

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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