Bloomberg News

South Africa Stocks: BHP, Central Rand, Gold Fields, SABMiller

December 12, 2011

Dec. 12 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined for a third day, falling 362.86, or 1.1 percent, to 32,270.06 at the 5 p.m. close in Johannesburg. The index gained less than 0.1 percent last week.

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

Anglo American Plc (AGL SJ), the mining company that makes up more than 9 percent of the benchmark stock index, dropped for a fifth day, losing 2 percent to 303.10 rand. Standard & Poor’s GSCI Index of Commodities retreated as Moody’s Investors Service said it will review ratings for countries in the euro region.

BHP Billiton Ltd. (BIL SJ), the world’s biggest miner, declined for a fourth day, sliding 1.7 percent to 244.73 rand.

Central Rand Gold Ltd. (CRD SJ), a gold miner, gained the most in almost three months, adding 80 percent to 9 cents. South Africa’s Department of Mineral Resources agreed to set aside a decision canceling its mining right, the company said in a regulatory filing.

Gold Fields Ltd. (GFI SJ), the country’s second-biggest producer, slipped for a third day, falling 3 percent to 130.24 rand. Gold declined to the lowest since Oct. 24 as concern that Europe’s debt crisis will persist strengthened the dollar, dimming the appeal of the metal as an alternative investment.

Harmony Gold Mining Co. Ltd. (HAR SJ), the third-biggest gold miner, retreated 2.5 percent to 106.74 rand.

Impala Platinum Holdings Ltd. (IMP SJ), the second-biggest producer of the metal, declined for the first time in four days, sliding 4.9 percent to 167.55 rand. Platinum production in South Africa, the world’s largest supplier of the metal, had an “unprecedented” drop in October as the government increased mine inspections, J.P. Morgan Cazenove said.

Pioneer Foods Ltd. (PFG SJ), a food producer, fell for the first time in eight days, slipping 2.9 percent to 57.75 rand. Rival Unilever NV plans to invest 500 million euros ($663 million) in its South African plants over the next five years to better compete against Pioneer Foods and Tiger Brands Ltd. in Africa’s biggest economy, Pier-Luigi Sigismondi, Unilever’s chief supply chain officer, said in an interview on Dec. 9.

SABMiller Plc (SAB SJ), the maker of Grolsch and Peroni beer, advanced 0.9 percent to 279.52 rand. The stock was raised to “neutral” from “underperform” by Exane BNP Paribas, with a price estimate of 23 pounds.

--With assistance from Sikonathi Mantshantsha. 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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