BLBG:South African Stocks: AngloGold, Aspen, SABMiller, Sovereign
The FTSE/JSE Africa All Share Index advanced for a second day, rising 170.71, or 0.5 percent, to 31,514.61 by 12:42 p.m. in Johannesburg.
The following are among the most active stocks in the South African market today.
AngloGold Ashanti Ltd. (ANG) , Africa’s biggest producer of the metal, rose for a sixth day, adding 5.80 rand, or 1.6 percent, to 370.50 rand. Gold gained for a second day to trade above $1,800 an ounce as concern the global economy is faltering stoked demand for haven investments including bullion.
Gold Fields Ltd. (GFI) , the continent’s second-biggest gold producer, advanced 2.30 rand, or 1.7 percent, to 137.30 rand. Separately, the miner said it made the second down-payment of $66 million on the option agreements to buy 60 percent of the undeveloped gold-copper Far Southeast deposit in the Philippines.
Harmony Gold Mining Co. (HAR SJ), the continent’s third- largest gold company, added 3.11 rand, or 3.1 percent, to 104.50 rand.
Aspen Pharmacare Holdings Ltd. (APN) , the largest maker of generic medicines in the southern hemisphere, declined for the first time in three days, dropping 1.07 rand, or 1.2 percent, to 89.95 rand. The company was downgraded to “neutral” from “outperform” at Macquarie Research, with a 12-month price estimate of 90 rand.
IFCA Technologies Ltd. (IFC) , an investment company with interests in software solutions and services, climbed to its highest in more than two weeks, rising 1 cent, or 7.1 percent, to 15 cents. The company plans to sell its software unit, purchase an additional 37.5 percent of Johannesburg Expo Centre Ltd. and transfer its listing to the main board of JSE Ltd.
SABMiller Plc (SAB) , the world’s second-largest brewer by volume, rose to its highest since at least January 1995, gaining 4.80 rand, or 1.8 percent, to 271.10 rand. The company agreed to acquire Foster’s Group Ltd. after increasing its offer to A$9.9 billion ($10.2 billion). Separately, the company was raised to “buy” from “hold” at Jefferies, with a price estimate of 25.30 pounds.
Sovereign Food Investments (SOV) Ltd, a poultry producer, dropped to its lowest in more than five weeks, declining 15 cents, or 3.2 percent, to 4.55 rand. The company said earnings per share for the six months through August will be as much as 70 percent lower than the same period a year earlier.
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