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.
Shoprite dismisses plans to close Tanzania shop
21/05/2013 - 08:56
The South African supermarket chain, Shoprite, which invested its business in the country some years ago has dismissed recent speculations regarding the imminent closure of some of its stores and possible exit from Tanzania for good.
Namibia: Pick n Pay benefits from anonymous tip-off line
20/05/2013 - 11:42
Shrinkage costs Pick n Pay During the financial year 2011/2012, Pick n Pay lost almost N$8million as a result of theft and pilferage which took place in a number of Pick n Pay stores across the country. In a bid to bring down shrinkage in its stores, the retailer introduced an anonymous tip-off line for the public and its stakeholders.
Zimbabwe: Lifestyle Holdings introduce TN Virtual Mart
14/05/2013 - 08:46
Diversified company Lifestyle Holdings has introduced a TN Virtual Mart — where it will deliver groceries to its clientele’s doorstep, as competition in the country’s retail sector intensifies.
Namibia: Give poultry industry protection
13/05/2013 - 11:18
A Namibia Trade Forum official has defended proposed government plans to grant interim protection to the local broiler industry against cheap imports.
Zimbabwe: Big brands knock out small retailers
06/05/2013 - 10:36
Experts contend that the introduction of the multiple-currency system in 2009 has seen low income retail shops which thrived during the years of economic meltdown scale down their operations due to heightened competition.