Bloomberg News

South African Stocks: Anglo, AngloGold, Merafe, Mondi, Sasol

April 11, 2012

The FTSE/JSE Africa All Share Index (JALSH) advanced less than 0.1 percent to 33,632.76 by the close in Johannesburg.

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

Anglo American Plc (AGL) , the diversified miner that makes up about 9 percent of the index, rose as much as 1.2 percent to 286.54 rand, and closed 0.2 percent higher. South Africa’s Competition Tribunal unconditionally approved the company’s plan to increase its stake in De Beers.

AngloGold Ashanti Ltd. (ANG) , the third-largest producer of the metal, advanced for the first time in five days, jumping 3.1 percent to 268.23 rand, its biggest gain in more than two months. The stock’s 14-day relative strength index, which shows how rapidly prices advanced or dropped during a specified time period, reached 17.1 yesterday, the lowest in almost two years. A reading of 30 or below signals to some investors that the share price will increase.

Invicta Holdings Ltd. (IVT) , a seller of ball bearings and transmission equipment, gained 3.2 percent to 64 rand. Earnings per share for the 12 months through March probably rose more than 25 percent from the previous year, the company said in a trading statement today.

Merafe Resources Ltd. (MRF) , part-owner with Xstrata Plc of the world’s biggest ferrochrome producer, jumped to the highest in more than four months, gaining 5.6 percent to 95 cents. The European benchmark ferrochrome price was settled at $1.35 per pound for the second quarter of 2012, an increase of 17 percent from the $1.15 per pound price in the first quarter, the company said today.

Mondi Ltd. (MND) , Europe’s largest maker of office paper, added 0.9 percent to 68.45 rand, its highest in almost a week. The company won acceptance from 27 percent of Mondi Swiecie SA shareholders for its bid to buy the remaining 34 percent of its Polish unit.

Sasol Ltd. (SOL) , the largest producer of motor fuels made from coal, gained for the first time in four days, adding 0.5 percent to 363.47 rand. Crude oil for May delivery rose $1.18, or 1.2 percent, to $102.20 a barrel the New York Mercantile Exchange.

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


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