BLBG:South African Stocks Advance For a Third Day; Golds Fields, Harmony Climb
The FTSE/JSE Africa All Share Index advanced for a third day, adding 7.55, or 0.02 percent, to 31,236.91 as at 10:37 a.m. in Johannesburg.
Gold Fields Ltd. (GFI) , Africa’s second-largest producer of the precious metal, rose the most in four days, adding 1.04 rand, or 1.1 percent, to 99.49 rand. Gold snapped three days of losses as the metal benefited from its haven status as concerns that a rescue plan for debt-saddled Greece will take longer to craft as euro-area finance chiefs failed to break a deadlock yesterday on a bailout.
Harmony Gold Mining Co. Ltd. (HAR SJ), the third-largest producer on the African continent, jumped the most since May 30, increasing 61 cents, or 0.7 percent, to 87.64 rand.
Paladin Capital Ltd. (PLD) , a private-equity company, rose to the highest intraday level since June 9, adding jumped 10 cents, or 3.7 percent, to 2.80 rand. Paladin said in a cautionary statement that it is considering possible acquisitions that may affect its share price if successfully concluded.
Sentula Mining Ltd. (SNU) , a coal miner, declined for a second day, falling 12 cents, or 4.5 percent, 2.55 rand, the lowest since May 24. Sentula said profit fell to 35 million rand ($5.1 million) in the year through March, from 239 million rand a year earlier, according to a regulatory statement published today.
To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net