Bloomberg News

South African Stocks: Anglo, FirstRand, Impala, Mvelaserve Move

February 27, 2012

The FTSE/JSE Africa All Share Index (JALSH) declined for the first time in three days, falling 1.1 percent to 33,871.32 by the close in Johannesburg. The gauge gained 0.5 percent last week.

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

Anglo American Plc (AGL) , the diversified miner that makes up about 9 percent of the index, closed at the lowest in more than a month, sliding 1.8 percent to 318.61 rand. Copper declined on concerns that demand will remain muted after the International Monetary Fund warned of a global slowdown in economic growth and the Group of 20 nations rebuffed European calls for assistance.

BHP Billiton Ltd. (BIL) , the world’s biggest mining company, dropped 0.5 percent to 244.80 rand.

Calgro M3 Holdings Ltd. (CGR) , a housing developer, closed at the highest since its 2007 listing, jumping 2.6 percent to 4.30 rand. Earnings per share may rise more than 225 percent in the year to Feb. 29, the company said in a trading update today.

FirstRand Ltd. (FSR) , South Africa’s second-largest banking group, fell the most in more than four months, slipping 3.2 percent to 23.96 rand. The company’s 14-day relative strength index, which shows how rapidly prices advanced or dropped during a specified time period, was 73 on Feb. 24, the highest since Jan. 23. A reading of 70 or above may be a signal to some investors who study technical charts that prices are set to decline.

Impala Platinum Holdings Ltd. (IMP) , the second-largest producer, retreated the most in more than a week, declining 2.7 percent to 163 rand. The company must transfer a 29.5 percent stake in its Zimplats unit to a Zimbabwean government fund, Saviour Kasukuwere, the indigenization minister, said in a letter addressed to the company obtained by Bloomberg News today. Separately, the stock was cut to “equal-weight” from “overweight” at RMB Morgan Stanley.

Mvelaserve Ltd. (MVS) , the security and facilities management company spun off from Mvelaphanda Group Ltd., gained the most since its November 2010 listing, jumping 13 percent to 11.85 rand. BB Investment Co., a unit of Bidvest Ltd., bought stock in Mvelaserve and now owns 5.16 percent of its shares, the company said in a regulatory filing.

To contact the reporters 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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