South African Stocks, Anglo American, ArcelorMittal, Pick n Pay
Bloomberg Businessweek - Jan 10th 2012, 09:57
Dec. 19 (Bloomberg) -- The FTSE/JSE Africa All Share Index slipped 285.33, or 0.9 percent, to 31,721.37 by the close in Johannesburg. The index has weakened 1.2 percent this year.
The following are among the most active stocks in the South African market today. Stock symbols follow company names.
Anglo American Plc (AGL SJ), the mining company that makes up more than 9 percent of the benchmark stock index, dropped 1.8 percent to 296.79 rand. Copper declined for the first time in three days in London on concern demand in China, the biggest metal buyer, will slow after property prices fell.
BHP Billiton Ltd. (BIL SJ), the world’s biggest miner, retreated 2.3 percent to 236.37 rand.
ArcelorMittal South Africa Ltd. (ACL SJ), Africa’s largest steelmaker, dropped for the first time in four days, falling 1.9 percent to 64.72 rand. The stock is excluded from the Johannesburg Stock Exchange’s Top 40 index from today following a quarterly review of companies’ index weightings.
Imperial Holdings Ltd. (IPL SJ), which owns South Africa’s largest auto-dealer network, fell the most since Dec. 14, sliding 0.7 percent to 120.70 rand. Imperial said it will spend 126 million rand ($15 million) buying the shares it doesn’t already own in various companies from Ukhamba Holdings Ltd.
Kagiso Media Ltd. (KGM SJ), a publishing and broadcasting group, slipped the most since Jan. 7, losing 5.3 percent to 17 rand. Kagiso said it has offered to buy Juta & Co. for 300 million rand.
Pick n Pay Stores Ltd. (PIK SJ) rose 1.1 percent to 46.88 rand. December has started “extremely well,” Chief Executive Officer Nick Badminton said, according to the Johannesburg-based Business Day newspaper.
Steinhoff International Holdings Ltd. (SHF SJ), Africa’s largest furniture maker, slid for a third day, retreating 2.9 percent to 22.89 rand. The company agreed to buy a 20 percent stake in PSG Group Ltd. for 1.6 billion rand, paying mainly with stock.
Telkom South Africa Ltd. (TKG SJ), Africa’s largest fixed- line phone company, declined 1.5 percent to 28.95 rand. Moody’s Investors Service downgraded the company’s senior unsecured issuer rating to Baa2 from Baa1 with a stable outlook.
DionWired unveils multichannel retailing to meet shopping trends
05/12/2013 - 15:33
DionWired has embraced the multichannel retail concept with the launch of its brand new website, which was developed to give consumers a highly positive, symmetrical shopping experience between the web and the brick-and-mortar stores.
Pick n Pay’s Zimbabwean partner bullish about prospects
03/12/2013 - 09:35
Harare - John Moxon, the chairman of Zimbabwe’s Meikles Africa, which runs TM Supermarkets jointly with South African grocer Pick n Pay, is bullish about future prospects in the country’s retail industry, saying the company has adopted a robust expansion plan to capitalise on the expected shift for the better in consumer spending patterns.
Double blow for Adcock suitor
03/12/2013 - 08:00
Johannesburg - A Chilean group's $1.2bn (R12.6bn) bid for drugmaker Adcock Ingram [JSE:AIP] was challenged on two fronts on Monday, as a group led by Bidvest [JSE:BVT] sought nearly a third of Adcock's shares and launched a court action against the bid.
Pick n Pay opens two premium stores as part of six month plan to open 64 stores
29/11/2013 - 10:27
After an improved performance at the half year, Pick n Pay is demonstrating its commitment to pursuing positive growth through focused, streamlined operations and an expanding store footprint, with plans to open over 60 new stores in the six months to end February 2014.
R140 million Victoria Wharf Construction at V&A Waterfront completed
28/11/2013 - 23:11
Undertaking an extensive expansion programme while minimising the impact on an estimated 24 million visitors per annum is no small feat. In a R140 million upgrade to its Victoria Wharf Shopping Centre, the V&A Waterfront has managed to not only improve its retail trade performance over the nine month construction period, but also increase the number of visitors to the Centre over the same period.