STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 0900GMT 11Oct12 - Village Main Reef ticks higher on production --------------------------------------------------------------
Shares of Village Main Reef add 1.6 percent to 1.29 rand after theSouth African mining company reports an 11 percent rise in gold production forthe July-September quarter.
The company says production improved at all its operations, with a 15percent increase at its Tau Lekoa mine.
Reuters Messaging: david.dolan.thomsonreuters.com@reuters.net 0829GMT 11Oct12 - Absa recovers after sell-off ----------------------------------------------
Shares of South Africa's Absa Group recover more than 1 percent to136.11 rand following a sharp sell-off in the previous session, when shares werehit by news a group of black shareholders had sold a stake in the bank worthabout $370 million.
Shares of Absa slid nearly 3 percent on Wednesday.
Batho Bonke Capital, a consortium of black investors led by prominentbusinessman and politician Tokyo Sexwale, offloaded a roughly 3.4 percent stakein Absa, almost all of its holding, allowing it to exit one of thepost-apartheid era's high profile "black empowerment" deals.
South African companies have used such deals - loan shares to blackinvestors or selling stakes at a discount - to increase their black ownershipand meet government targets to help those disadvantaged by the apartheid regime.
Reuters Messaging: david.dolan.thomsonreuters.com@reuters.net
Keywords: MARKETS AFRICA STOCKSNEWS