Bloomberg News

South Africa Shares: African Rainbow, Richemont, SABMiller Move

May 24, 2012

The FTSE/JSE Africa All Share Index gained 0.3 percent to 32,996.46 by 1:18 p.m. 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, headed for its biggest advance in two weeks, climbing 1.7 percent to 168.06 rand. Copper rebounded from the lowest in more than four months as leaders in China, the top consumer, pledged to intensify “fine-tuning” of policies and before a report that may show durable goods orders in the U.S. climbed in April.

Aquarius Platinum Ltd. (AQP SJ), the fourth-biggest miner of the metal, declined for a tenth day, its longest losing streak on record, sliding 3 percent to 9.40 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.

Cie. Financiere Richemont SA (CFR) , the second-largest luxury goods group, fell for a second day, retreating 2.4 percent to 48.50 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, headed for its biggest gain 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 0.7 percent to 314.65 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 sgunnion@bloomberg.net

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


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