Angola’s planned undersea cable to South America will cut data transmission times between stock markets in Brazil and Hong Kong and open a new route between Africa and the U.S., the head of state-owned Angola Cables said.
San Miguel Corp., the largest company in the Philippines by sales, rose the most in more than two years after saying it will declare 240.2 million shares of majority owner Top Frontier Investment Holdings Inc. as a property dividend.
Gold will extend losses into 2014 amid expectations the Federal Reserve will pare stimulus as the U.S. recovers, according to Morgan Stanley, adding to bearish calls from Goldman Sachs Group Inc. and Credit Suisse Group AG.
Zambia’s ZCCM Investment Holdings Plc said it will seek more than needed to repay debt from a share sale so the state-controlled company that has stakes in the nation’s mines can also invest in new developments.
Old Mutual Plc’s South African fixed- income investment unit said its development funds have halted purchases of bonds from unsecured lenders in the country because the high-interest credit they offer is hurting consumers.