BLBG:South African Stocks Climb: Real Africa Gains Most in Four Months on Offer
The FTSE/JSE Africa All Share Index was little changed, climbing 28.48, or less than 0.1 percent, to 30,321.24 by 10:22 a.m. in Johannesburg, after earlier declining as much as 0.3 percent.
The following are among the most active stocks in the South African market today.
AngloGold Ashanti Ltd. (ANG) , Africa’s largest producer of the metal, rose for a second day in three, advancing 2 rand, or 0.6 percent, to 316 rand. Gold rebounded after yesterday’s steep decline as some investors saw optimism the U.S. recovery may be sustained as excessive amid ongoing debt woes in Europe.
DRDGold Ltd. (DRD) , South Africa’s fourth-largest producer of the metal, advanced for a second day, gaining 12 cents, or 3.2 percent, to 3.82 rand.
Real Africa Holdings Ltd. (RAH) , the investment company with interests in gaming and tourism, advanced the most in more than four months, adding 15 cents, or 4 percent, to 3.90 rand. The company said it has received an expression of interest letter from Sun International Ltd. (SUI SJ) to buy all the shares in the company that Sun doesn’t already own.
Sun International Ltd. gained 99 cents, or 1.2 percent, to 87 rand.
Sasol Ltd. (SOL) , the world’s largest maker of motor fuel from coal, rose for a third day, adding 2.63 rand, or 0.8 percent, to 322.63 rand. Oil traded near the highest in almost two weeks in New York as signs of a strengthening U.S. economy countered speculation that crude stockpiles are increasing in the world’s biggest consumer of the commodity.
Spur Corp Ltd. (SUR) , a restaurant franchise, advanced to its highest in four weeks, gaining 51 cents, or 3.8 percent, to 13.86 rand. The company said it entered into talks regarding a possible acquisition, which if successfully concluded, may affect the price of the company’s shares.
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