Bloomberg News

South African Stocks: Afrox, Anglo, Harmony, Old Mutual, SAB

December 16, 2011

Dec. 15 (Bloomberg) -- The FTSE/JSE Africa All Share Index advanced for the first time in six days, gaining 60.60, or 0.2 percent, to 31,787.63 by 12:45 p.m. in Johannesburg, reducing losses for the week to 2.6 percent.

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

African Oxygen Ltd. (AFX SJ), South Africa’s largest producer of industrial gases, rose 0.6 percent to 17.10 rand. Basic earnings per share for the 12 months through December are expected to be at least 20 percent higher than a year earlier, the company said in a trading update.

Anglo American Plc (AGL SJ), the mining company that makes up more than 9 percent of the benchmark stock index, advanced 0.7 percent to 299.20 rand. Copper rose for the first time in four days on speculation yesterday’s 5.1 percent plunge was overdone given forecasts for demand in China, the biggest buyer.

BHP Billiton Ltd. (BIL SJ), the world’s biggest miner, gained for the first day in seven, adding 0.5 percent to 240.23 rand.

Harmony Gold Mining Co. (HAR SJ), Africa’s third-largest gold producer, advanced for the first time in six days, adding 3 percent to 104.31 rand. The company said it has restarted mining activities at its Hidden Valley mine in Papua New Guinea after operations were temporarily suspended following an earthquake.

Metair Investments Ltd. (MTA SJ), a company that manufactures motor vehicle components, gained 0.8 percent to 18.95 rand. Earnings per share for the 12 months through December will be at least 20 percent higher than last year, the company said in a trading statement.

Old Mutual Plc (OML SJ), South Africa’s largest insurer and the third-biggest insurer in the U.K., rose the most since April 2009, climbing 9.2 percent to 15.87 rand. The company plans to sell its Nordic business, excluding Finland, for 2.1 billion pounds ($3.3 billion) to Skandia Liv, it said in a regulatory filing.

SABMiller Plc (SAB SJ), the maker of Grolsch and Peroni beer, fell for the first time in four days, dropping 0.7 percent to 280.51 rand. The stock was rated “sell” in new coverage at Bryan Garnier & Cie, with a six-month price estimate of 21.20 pounds.

--Editors: Peter Branton, Ash Kumar

--Editors:

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; Antony Sguazzin at asguazzin@bloomberg.net


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