South African Stocks Rise; Gold One Climbs Most Since Listing on Citic Bid

By Robert Brand and Franz Wild - May 16, 2011 6:58 PM GMT+0200
Bloomberg - http://www.bloomberg.com/news/2011-05-16/stocks-in-south-africa-fall-gold-one-kelly-group-petmin-vodacom-move.html

South Africa’s FTSE/JSE Africa All Share Index rose for second day, adding 196.08, or 0.6 percent, to 32,156.01 in Johannesburg.

The following are among the most active stocks in the South African market today.
Gold One International Ltd. (GDO) , a South African gold mining company, increased 33 cents, or 9.9 percent, to 3.68 rand, the biggest jump since trading of the stock started in May 2009. Citic Group, China’s biggest state-owned investment company, and partners agreed to buy Gold One for about A$444 million ($469 million), the company reported.

Kelly Group Ltd. (KEL SJ), a human resources company, fell 5 cents, or 1.3 percent, to 3.81 rand, the lowest since March 28. Revenue climbed 4 percent to 1.02 billion rand ($145.1 million) in the six months through March, the company said.

Sun International Ltd. (SUI SJ), a hotels and casinos operator, fell 1.53 rand, or 1.7 percent to 87.80 rand, the biggest decline in almost two months. Sun International and Grand Parade Investments Ltd. (GPL) said they signed a binding agreement through which they plan to restructure certain common interests.
Grand Parade Investments (GPL SJ) gained 10 cents, to 3.2 percent, to 3.20 rand.

Tongaat Hulett Ltd. (TON) slid 1.15 rand, or 1.2 percent, to 92.41 rand, the lowest level in a month. The country’s second-largest sugar producer said profit in the year through March probably fell 11 percent.

Vodacom Group Ltd. (VOD) , the largest provider of wireless services to South Africans, rose 1.80 rand, or 2.3 percent, to 81.70 rand, the highest level since trading in the shares started in May 2009. The company said net income for the 12 months to March 31 increased to 8.25 billion rand from 4.2 billion rand a year earlier.