South Africa, Kenya’s market indices record mixed fortunes
AngloGold Ashanti Lmited, the world’s third-biggest gold producer, climbed for the first time in three days, gaining 1.52 rand, or 0.5 per cent, to 309 rand.
Gold Fields Limited, the second-biggest producer of the metal in Africa, added 48 cents, or 0.5 per cent, to 101.35 rand. Harmony Gold Mining Co. rose 60 cents, or 0.8 per cent, to 76.20 rand. Gold rallied as the dollar extended its retreat from a three-month high against global currencies, buoying demand for the metal.
BHP Billiton Limited rose 1.21 rand, 0.5 per cent, to 236.19 rand, bringing its advance this week to 1.2 per cent. Copper for delivery in three months rallied as much as 1.8 per cent to $7,125.25 a metric ton in London, extending Wednesday’s 1.7 per cent rise.
Nickel, lead, zinc and aluminum prices also gained.
SABMiller Plc, the world’s second-largest brewer, fell for a third day, sliding 2.28 rand, or one per cent, to 217.48.
Talks between SABMiller’s Amalgamated Beverage Industries Ltd. unit in South Africa and the Food and Allied Workers Union continued today after the union started a strike on December 22 to demand higher pay increases, according to a spokeswoman for the company.
Mauritius’ SEMDEX Index reached a two-week peak, rising 0.2 percent to close at 1,665.03 in Port Louis. Namibia’s FTSE/Namibia Overall Index lost 0.1 per cent to 776.84 by 12 p.m. in Windhoek, while the Nigerian market was closed for a public holiday.
Kenya Airways Limited, the region’s third-biggest carrier, rose the most in two weeks after resuming night flights into and from Nairobi’s Jomo Kenyatta International Airport as the facility repaired runway lighting.
The shares climbed as much as 2.9 per cent and closed 2.2 per cent up at 35.25 shillings, the highest since December 16.
Flights were suspended on December 22 because of poor runway lighting.
Kenya Electricity Generating Co., the nation’s biggest power producer, closed at a 3 1/2-month high after saying it is seeking engineering contractors to design two power lines for the company and Ethiopian Electric Power Corp. The shares rose 4.2 per cent to close at 12.50 shillings, the highest level since September 8.