BLBG: Anglo Platinum, Harmony, Nedbank: South African Equity Preview
By Janice Kew
Feb. 8 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in South Africa. Stock symbols are in parentheses after company names and prices are from the last close.
South Africa’s FTSE/JSE Africa All Share Index fell 525.30, or 2 percent, to 25,793.06 in Johannesburg. The measure dropped 3.3 percent last week, its biggest weekly fall in almost a year.
Anglo Platinum Ltd. (AMS SJ): The world’s biggest platinum producer reports annual earnings. AngloPlat, as the company is known locally, fell 12 rand, or 1.7 percent, to 688 rand.
Harmony Gold Mining Co. (HAR SJ): Africa’s third-largest producer of the precious metal reports second-quarter earnings. Harmony said on Jan. 26 that it expects an improvement in the rand price received for its gold led to “significantly” higher profit in the three months through December. Harmony added 16 cents, or 0.2 percent, to 71.49 rand.
Illovo Sugar Ltd. (ILV SJ): Africa’s biggest sugar producer plans to spend about 6 billion rand ($774 million) over the next five years expanding in Africa, Business Day reported, citing Managing Director Graham Clark. The company plans to boost output to as much as 2.7 million metric tons, from 1.7 million tons, the Johannesburg-based newspaper said. Illovo dropped 70 cents, or 2.1 percent, to 32.50 rand.
Nedbank Group Ltd. (NED SJ): South Africa’s fourth biggest bank said it’s being sued over alleged losses from futures trading in Acc-Ross Holdings Ltd., which later changed its name to Pinnacle Point Group Ltd. The lender may be sued for 1.3 billion rand ($167 million), Sunday Times reported, citing court papers. Nedbank fell 4.56 rand, or 3.7 percent, to 117.25 rand.
The following stocks will begin trading without the right to the latest dividends:
