Bloomberg News

South African Stocks: Anglo, BHP, Implats, Massmart, Old Mutual

February 22, 2012

Feb. 22 (Bloomberg) -- The FTSE/JSE Africa All Share Index fell for the first time in four days, declining 0.4 percent to 34,006.52 by the 5 p.m. close in Johannesburg.

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

Anglo American Plc (AGL SJ), a diversified miner that makes up about 9 percent of the index, slipped 1.4 percent to 325.10 rand. Copper for May delivery declined 0.9 percent to $3.809 a pound.

BHP Billiton Ltd. (BIL SJ), the world’s biggest miner, declined 0.7 percent to 252 rand.

Impala Platinum Holdings Ltd. (IMP SJ), the second-biggest producer, fell for a second day, sliding 1.3 percent to 161.01 rand. Deliveries of the metal to customers may be about 50 percent less than usual at its largest mine, which remains closed after an illegal strike, the company said.

“It’s an absolute guess, because it’s too early to know,” Derek Engelbrech, Johannesburg-based Impala’s marketing executive, said by mobile phone today.

The company may also lose more than 100,000 ounces of platinum production due to recent disruptions in South Africa, Credit Suisse Group AG said in an e-mailed report today.

Massmart Holdings Ltd. (MSM SJ), a retailer controlled by Wal-Mart Stores Inc., fell for the first time in four days, declining 0.6 percent to 181.51 rand. Profitability is under pressure because of expansion costs, the company said in a regulatory filing today.

Mpact Ltd. (MPT SJ), the South African packaging company spun out of Mondi Group, advanced the most in two weeks, jumping 2 percent to 15.13 rand. Basic earnings per share for the 12 months to Dec. 31 increased to between 52 cents and 56 cents from 22.4 cents a year earlier, the company said in a trading statement today.

Old Mutual Plc (OML SJ), Africa’s largest insurer, dropped the most in three months, falling 1.6 percent to 19.02 rand. The insurer said Togo’s Ecobank Transnational Inc. accepted its preliminary offer for Nigeria’s Oceanic Life.

O-line Holdings Ltd. (OLI SJ), a maker of cable ladders, anchors and mechanical supports, climbed to its highest in a week, adding 4.2 percent to 1.23 rand. Germany’s OBO Bettermann GmbH & Co. KG planned to offer shareholders 1.30 rand a share for 100 percent of the company, it said after yesterday’s market close.

PSV Holdings Ltd. (PSV SJ), a supplier of pumps to mines, rose the most since Dec. 7, gaining 25 percent to 20 cents. PSV announced plans to sell five of its pump businesses for 54 million rand ($7 million) to pay off debt, build working capital and return cash to shareholders.

Rolfes Technology Holdings Ltd. (RLF SJ), a color pigment manufacturing company, gained the most in more than a week, adding 1.9 percent to 3.31 rand. Earnings per share rose 16 percent to 17.1 cents in the six months through December, the company said in a regulatory filing today.

--Editors: Linda Shen, Peter Branton

To contact the reporters on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net; Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

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


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