September 14, 2011 / 1:58 PM / 7 years ago

STOCKS NEWS AFRICA-Implats jumps as Zimbabwe changes tone

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1347GMT 14Sept11 - Implats jumps as Zimbabwe softens tone


Impala Platinum’s stock gains more than 2 percent after Zimbabwe says it has not intention of canceling any mining licences.

Shares of South Africa’s Implats, which is the majority owner of Zimbabwe Platinum , have been under pressure since Zimbabwe asked foreign miners to hand over majority shareholding to locals owners or risk losing their permits.

However, Zimbabwe softened its tone on Tuesday, with ministers saying the country would be willing to make some exceptions for foreign miners.

Implats shares have lost 1.7 percent since Aug. 19, when the government issued an 14-day ultimatum to foreign firms to submit acceptable share transfer proposals.

They are now 2.3 percent stronger at 164.36 rand, outpacing Johannesburg’s Top-40 index of blue chips that is 1.7 percent stronger.

Reuters Messaging:

1320GMT 14Sept11 - Sasfin declines after earnings fall


Shares of Sasfin Holdings decline nearly 5 percent, making it the worst performer on Johannesburg’s All-Share index , after the financial services firm says full-year earnings are down 16 percent.

The South African financial services firm says diluted headline earnings per share fell 16 percent to 297 cents in the year to end-June as non-banking businesses such as property private equity suffered.

Sasfin shares are down 4.7 percent lower at 30.51 rand, although on a very low volume. The broad All-Share index is up 1.6 percent.

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0824GMT 14Sept11 - First Uranium up, lifts profit, dividend


Shares in First Uranium fall more than 3 percent in Johannesburg, albeit on low volumes, as the South Africa-focused uranium and gold miner halts Ezulwini mine operations after an accident killed an employee.

First Uranium, whose primary listing is Toronto , is off 3.33 percent at 2.90 rand.

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