In the media

South African Stocks Rise for First Day in Three, Led by DRDGOLD, Impala

[Bloomberg] - DRDGOLD Ltd. (DRD SJ), a South African producer of the metal, rallied the most in two weeks, jumping 11 cents, or 3.7 percent, to 3.11 rand.

South Africa’s FTSE/JSE Africa All Share Index rose for the first day in three, increasing 62.31, or 0.2 percent, to 26,532.78 by 11:02 a.m. in Johannesburg.

The following were among the most active stocks in the South African market today.

Astrapak Ltd. (APK SJ), South Africa’s largest plastic- packaging company, retreated 25 cents, or 2.8 percent, to 8.75 rand, extending yesterday’s 5 percent decline. Astrapak said earnings per share excluding one-time items for the six months through August are expected to fall by between 40 percent and 50 percent from a year earlier.

Basil Read Holdings Ltd. (BSR SJ), a construction company, slid for a third day, dropping 40 cents, or 3.4 percent, to 11.25 rand after saying that first-half earnings per share will fall as much as 30 percent.

DRDGOLD Ltd. (DRD SJ), a South African producer of the metal, rallied the most in two weeks, jumping 11 cents, or 3.7 percent, to 3.11 rand. Net income in the three months through June increased to 240.9 million rand ($33 million) from 9.9 million rand in the prior quarter.

Impala Platinum Holdings Ltd. (IMP SJ), the world’s second- largest producer of the metal, rose 6.16 rand, or 3.6 percent, to 176.66 rand, snapping two days of losses, after fiscal full- year profit fell less than analysts estimated.

Earnings excluding one-time items in the 12 months to June 30 dropped 22 percent 7.86 rand a share compared with the median forecast of 7.59 rand among 11 analyst estimates compiled by Bloomberg.

Massmart Holdings Ltd. (MSM SJ), South Africa’s biggest food and general goods wholesaler, slipped 1.21 rand, or 1 percent, to 116.14 rand. Net income declined 7 percent to 1.13 billion rand in the fiscal year to June 27, mainly because of foreign-exchange losses related to the conversion of earnings from its African operations into rand.

Woolworths Holdings Ltd. (WHL SJ), a food and clothing retailer, gained 6 cents, or 0.3 percent, to 23.50 rand, paring an earlier advance to as much as 23.85 rand. Net income in the 12 months through June increased 1 percent to 1.25 billion rand and the company said economic conditions in South Africa will improve at a slower pace than in the past.