Stocks on the move Real-time Equity News
1326GMT 28April2011
Gold One down, to buy Rand Uranium for $250 mln
Shares in junior gold miner Gold One International fall 4.17 percent to 3.45 rand after the company said it would buy Rand Uranium Limited from Harmony Gold and other shareholders for $250 million.
'It is a sizeable amount of money. Everyone's worry is how are they going to raise the money. If you are talking about raising more than half of your market capitalization, that's sizeable,' said Sasha Naryshkine, a mining analyst with Johannesburg-based Vestact.
The deal would raise Gold One's annual output to around 300,000 ounces.
Harmony owns 40 percent of Rand Uranium and will boost its balance sheet with the deal as it prospects for gold in Papua New Guinea with Australian partner Newcrest Mining Limited at a cost of $4 billion.
Harmony shares also take a dive, 2.40 percent lower at 97.40 rand.
(Reporting by Ruona Agbroko)
1230GMT 28April 2011
Air Mauritius gains ahead of year results
Shares in Air Mauritius, the Indian Ocean island's national airline, gain 0.54 percent to 18.50 rupees on Thursday over expectations of better full year results, due out in the next few weeks, traders say.
'The market expects Air Mauritius to return to profit this year after a pretax loss of 5.9 million euro last year as the number of tourist arrivals is on the rise,' Kishen Nadassen, senior research analyst at Cim Stockbrokers says.
Nadassen adds that recent government figures on arrivals and the planned start of direct flights to China in July this year has led to improved investor sentiment about the shares.
The benchmark SEMDEX Index climbs to 2,060.84 points from 2,058.69 on Wednesday. (Reporting by Jean Paul Arouff)
0855GMT 28April2011 - S.African gold stocks fall, profit
taking seen
South Africa's big three gold miners defy fresh record price for precious metal and fall, with one analyst saying some profit-taking seen.
Stronger rand also having an impact but rand/gold price remains near recently scaled peaks.
At 0855 GMT Harmony Gold down 1.73 percent at 98.07 rand, Gold Fields 3.15 percent lower at 115.15 rand while AngloGold Ashanti stumbles 1.87 percent to 326.77 rand.
Reuters messaging: edward.stoddard.reuters.com@reuters.net
Keywords: MARKETS AFRICA STOCKSNEWS
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Stocks on the move Real-time Equity News
1445GMT 28April2011
Impala gains over 2 percent, Amplats flat
Shares in Impala Platinum, the world's second largest producer of the precious metal, rise over three percent at one point before cooling off to be 2 percent higher at 201.670 rand at 1445 GMT.
By contrast, larger rival Anglo Platinum (Amplats) shares are flat at 657 rand despite a platinum rally that saw its spot price hit $1,838.00/oz, its highest since early March.
Dealers and analysts in London and Johannesburg say Impala seems to be closing a gap that has opened with Amplats because of its bigger exposure to Zimbabwe, where the government is in a drive to force foreign miners to surrender 51 percent of their local equity to local black investors.
One analyst says the share has 'been lagging on the back of Zimbabwe' but there is a growing perception that this has been overdone. Monday and Wednesday were holidays this week in South Africa so moves have also been exaggerated by light liquidity.
Reuters messaging: edward.stoddard.reuters.com@reuters.net
Gold One down, to buy Rand Uranium for $250 mln
Shares in junior gold miner Gold One fall 4.17 percent to 3.45 rand after the company said it would buy Rand Uranium Limited from Harmony Gold and other shareholders for $250 million.
'It is a sizeable amount of money. Everyone's worry is how are they going to raise the money. If you are talking about raising more than half of your market capitalization, that's sizeable,' said Sasha Naryshkine, a mining analyst with Johannesburg-based Vestact.
The deal would raise Gold One's annual output to around 300,000 ounces.
Harmony owns 40 percent of Rand Uranium and will boost its balance sheet with the deal as it prospects for gold in Papua New Guinea with Australian partner Newcrest Mining Limited at a cost of $4 billion.
Harmony shares also take a dive, 2.40 percent lower at 97.40 rand.
(Reporting by Ruona Agbroko)
1230GMT 28April 2011
Air Mauritius gains ahead of year results
Shares in Air Mauritius, the Indian Ocean island's national airline, gain 0.54 percent to 18.50 rupees on Thursday over expectations of better full year results, due out in the next few weeks, traders say.
'The market expects Air Mauritius to return to profit this year after a pretax loss of 5.9 million euro last year as the number of tourist arrivals is on the rise,' Kishen Nadassen, senior research analyst at Cim Stockbrokers says.
Nadassen adds that recent government figures on arrivals and the planned start of direct flights to China in July this year has led to improved investor sentiment about the shares.
The benchmark SEMDEX Index climbs to 2,060.84 points from 2,058.69 on Wednesday. (Reporting by Jean Paul Arouff)
0855GMT 28April2011 - S.African gold stocks fall, profit
taking seen
South Africa's big three gold miners defy fresh record price for precious metal and fall, with one analyst saying some profit-taking seen.
Stronger rand also having an impact but rand/gold price remains near recently scaled peaks.
At 0855 GMT Harmony Gold down 1.73 percent at 98.07 rand, Gold Fields 3.15 percent lower at 115.15 rand while AngloGold Ashanti stumbles 1.87 percent to 326.77 rand.
Reuters messaging: edward.stoddard.reuters.com@reuters.net
Keywords: MARKETS AFRICA STOCKSNEWS
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