Bloomberg News

South African Stocks: African Rainbow, Palabora Shares Move

April 13, 2012

The FTSE/JSE Africa All Share Index (JALSH) was little changed, trading up less than 0.1 percent at 33,822.88 by 1:04 p.m. in Johannesburg, bringing this week’s gain to 0.2 percent.

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

African Rainbow Minerals Ltd. (ARI) , a miner of gold and industrial metals, fell 0.7 percent to 175.75 rand. Copper declined, poised for a second weekly drop, as China’s gross domestic product grew by less than expected, raising concerns about demand from the largest user of the metal. Zinc, lead and nickel also fell

Palabora Mining Co. Ltd. (PAM) , a South African copper producer majority owned by Rio Tinto Group and Anglo American Plc, dropped 1.2 percent to 151.99 rand.

PSG Group Ltd. (PSG) , an investment holding company with interests in the financial sector, headed for a record high, jumping 2.3 percent to 53.10 rand. Earnings per share excluding one-time items at its PSG Konsult unit rose 22 percent in the year through February, it said in a statement posted on its website today.

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


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