Bloomberg News

South Africa Shares: African Rainbow, Richemont, SABMiller Move

May 24, 2012

The FTSE/JSE Africa All Share Index gained 0.5 percent to 33,046.13 by the close in Johannesburg, after retreating 1.8 percent yesterday.

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, advanced the most in more than a month, climbing 2.5 percent to 169.33 rand. Copper rose in New York, rebounding from the biggest drop in seven weeks, on speculation demand will remain firm in leading global consumer China as producers struggle to maintain output.

Aquarius Platinum Ltd. (AQP SJ), the fourth-biggest miner of the metal, declined for a tenth day, its longest losing streak on record, sliding 5.1 percent to a seven-year low of 9.20 rand. The company expects to lose 75,000 metric tons of ore because of a fire at its Mimosa mine in Zimbabwe and will cover the shortfall by tapping stockpiles. Separately, Morgan Stanley lowered its price estimate for the stock to 11 rand, from 16 rand.

Cie. Financiere Richemont SA (CFR) , the second-largest luxury goods group, fell for a second day, retreating 2.8 percent to 48.30 rand. Swiss watch exports increased at the slowest pace in more than two years last month, according to data released by the Federation of the Swiss Watch Industry.

Mr Price Group Ltd. (MPC) , a South African clothing and furniture retailer, gained the most in almost eight months, jumping 3.7 percent to 100 rand. The company is looking at expanding in Africa, including Nigeria, Ghana and Angola, Chief Executive Officer Stuart Bird said in a presentation in Johannesburg today.

SABMiller Ltd. (SAB) , the world’s second-largest brewer, fell for a second day, slipping 1 percent to 313.91 rand. Earnings before interest, tax and amortization increased 12 percent to $5.63 billion in the year to March 31, missing estimates of $5.7 billion.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at

To contact the editor responsible for this story: Gavin Serkin at

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