Ferdi Heyneke News
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Clicks Group Ltd., a South African beauty and pharmaceutical retailer, climbed the most in almost seven months as food and drug retailers continued to recover from an early-year slump driven by slower consumer spending.
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Barloworld Ltd., a seller of equipment to mining and construction companies, fell the most in eight months as a lengthy rally that followed a sharp rise in full-year income was snuffed out.
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South African stocks advanced and were poised for the biggest weekly gain in a month, led by SABMiller Plc , the world’s second-largest brewer by volume, which reported earnings that beat analysts’ estimates.
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Cipla Medpro South Africa Ltd. rose the most in a month as the generic drugmaker said distribution pacts remain intact after Chief Executive Officer Jerome Smith resigned before a disciplinary hearing scheduled for today.
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Adcock Ingram Holdings Ltd., South Africa’s largest supplier of hospital and critical care products, slumped the most on record after first-half profit slid, missing analysts’ expectations.
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MTN Group Ltd., Africa’s largest mobile-phone operator, plans to boost capital expenditure 38 percent this year after growth in subscriber numbers and currency shifts boosted 2011 earnings.
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SABMiller Plc , the world’s second- largest brewer by volume, jumped to the highest level since at least 1995 in Johannesburg trading after reporting a 15 percent increase in earnings yesterday.
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South Africa’s gold mining index fell the most in six months after the metal retreated for a second day as the dollar strengthened on signs the Federal Reserve may refrain from providing more stimulus for the U.S. economy.
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South Africa’s FTSE/JSE Africa All Share Index fell 80.51, or 0.3 percent, to 28,635.76 in Johannesburg. The measure has dropped 1 percent this week, its third weekly decline.
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South Africa’s FTSE/JSE Africa All Share Index lost 131.89, or 0.5 percent, to 26,182.67 in Johannesburg, extending last week’s 3.5 percent drop.
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