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South Africa Shares: Gold Fields Ltd., Harmony, Impala, Telkom

June 01, 2012

The FTSE/JSE Africa All Share Index (JALSH) fell 0.1 percent to 33,107.46 at the close in Johannesburg.

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

AECI Ltd. (AFE) , Africa’s largest explosives maker, fell to its lowest in six months, sliding 1.9 percent to 79 rand. Earnings per share are expected to decline more than 20 percent for the six months through June, the company said in a statement today.

Aquarius Platinum Ltd. (AQP) , the fourth-biggest miner of the metal, declined to the lowest level since 2005, dropping 12 percent to 8.50 rand. Goldman Sachs Group Inc. cut its price estimate for the stock by 34 percent to 12.83 rand, citing concern over cash generation.

Gold Fields Ltd. (GFI) , the fourth-largest producer of the metal, rose 2.9 percent to 117.45 rand. Gold gained the most since October, adding 2.7 percent to $1,609.10 per ounce. Harmony Gold Mining Co. Ltd. (HAR) increased 3.1 percent to 87.16 rand.

Impala Platinum Holdings Ltd. (IMP) , the second-largest producer of the metal, retreated to the lowest in more than three years, dropping 1.5 percent to 131.96 rand. Remgro Ltd. (REM), a South African investment company, plans to distribute its stake in Impala to its stockholders. That may cause an overhang in the share price, Stephen Meintjes, head of research at Imara S.P. Reid said by phone from Johannesburg.

Telkom South Africa Ltd. (TKG) , Africa’s biggest fixed- line operator, fell to the lowest in more than eight years, dropping 8.3 percent to 21 rand. The South African government, Telkom’s biggest shareholder, won’t support a plan to sell a stake to KT Corp. of South Korea, the company said today.

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

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

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