Bloomberg News

South African Stocks: Cullinan Holdings, Harmony Gold, Metorex

December 29, 2011

Dec. 28 (Bloomberg) -- The FTSE/JSE Africa All Share Index declined for the first time in three days, dropping 34.38, or 0.1 percentage point, to 32,092.87 at the the close of trading in Johannesburg.

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

Cullinan Holdings Ltd. (CUL SJ), a travel operator, rose to an almost four-month high, adding 33 percent to 85 cents. The company said it will resume paying dividends in 2012 after suspending it in 2008.

Harmony Gold Mining Co. Ltd. (HAR SJ), South Africa’s third-biggest gold producer, dropped 4 percent to 95.99, the lowest since Oct. 24, after the price of gold fell for a second day to the lowest level in a week.

AngloGold Ashanti Ltd. (ANG SJ), Africa’s biggest producer of the metal, slipped 2.7 percent to 343.39 rand. Gold Fields Ltd. (GFI SJ), the country’s second-biggest producer, lost 3.4 percent to 125.99 rand.

Metorex Ltd. (MTX SJ), a miner of copper and cobalt that is being acquired by China’s Jinchuan Group Ltd, gained 2.3 percent to 8.83 rand after saying all conditions for the takeover have been fulfilled.

--Editors: Ash Kumar, Linda Shen

To contact the reporter on this story: Robert Brand in Cape Town at rbrand9@bloomberg.net

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


Best LBO Ever
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus