south african stocks
"A ripe melon falls by itself" - Zimbabwe proverb
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South African Stocks Shares Move UpBy Janice Kew found at bloomberg.com Jan. 21 (Bloomberg) -- South Africa’s FTSE/JSE Africa All Share Index declined for a third day, falling 414.06, or 2 percent, to 19,881.01 at 11:15 a.m. in Johannesburg. The following are among the most active stocks in the South African market today. Aquarius Platinum Ltd. (AQP SJ) slumped 1.43 rand, or 6.4 percent, to 21 rand. Morgan Stanley cut its recommendation on the platinum producer to “underweight” from “equal-weight.” BHP Billiton Ltd. (BIL SJ) dropped 6.31 rand, or 3.8 percent, to 158.87, extending yesterday’s 4.9 percent decrease. The world’s biggest mining company said it may take $1.7 billion in one-time charges after closing an Australian nickel mine and slashing 6,000 jobs. Separately, copper for delivery in three months slid for a second day, losing as much as 1.7 percent to $3,285 a metric ton in London. Nickel, lead, zinc and aluminum prices also dropped. Harmony Gold Mining Co. (HAR SJ) rallied for a fourth day, climbing 1.47 rand, or 1.4 percent, to 103.47. Merrill Lynch & Co. raised its rating on Africa’s third-largest producer of the metal to “buy,” recommending the stock on changes in operations and financial “restructuring” and on gold prices. JSE Ltd. (JSE SJ) slipped 74 cents, or 1.7 percent, to 42.50, erasing yesterday’s 0.7 percent decline. Credit Suisse Standard Securities cut its share-price estimate on the operator of Africa’s largest exchange by 10 percent to 45 rand. Lewis Group Ltd. (LEW SJ) slid 1.10 rand, or 2.4 percent, to 44.75. The furniture retailer said its nine-month doubtful debt provision through December was 15.4 percent, higher than the 14 percent in December 2007. To contact the reporters on this story: Janice Kew in Johannesburg at jkew1@bloomberg.net. Last Updated: January 21, 2009
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