STOCKS NEWS AFRICA-Richemont S.Africa shares surge as H1 shines

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 1130GMT 12Nov2010 - Richemont S.Africa shares surge as H1 shines ---------------------------------------------------------------- Johannesburg-listed shares of Richemont surge after the luxury goods maker's first-half profit nearly doubles, beating expectations thanks to strong demand for Cartier watches, Montblanc pens and jewellery in Asia. "A blow-out set of figures," says Jon Cox of Kepler Capital Markets. Shares of Richemont, which are up nearly 50 percent this year already, jump 4.8 percent to 38.30 rand. Reuters Messaging rm//: 0715GMT 12Nov2010 - S.Africa's Top-40 lower as global shares slump ------------------------------------------------------------------- Johannesburg's Top-40 index falls 0.8 percent to 27,875.61, on track for its biggest one-day loss in about three weeks as investors unload mining firms and other recent gainers after risk appetite is blunted by a sell-off in Asia and investor concern over Ireland's debt woes. Shares of AngloGold Ashanti fall 2.8 percent to 347.05, erasing gains from the previous session when it rose after beating its third-quarter guidance. Asian stocks fell on Friday, with Shanghai tumbling more than 5 percent and Japan's Nikkei falling more than 1 percent, hit by concern about possible further monetary tightening by China. Concern about further euro zone debt troubles also weighed on shares. Reuters Messaging rm//: 0715GMT 12Nov2010 - Coal of Africa surges, resolves with government ------------------------------------------------------------------- Shares of Coal of Africa surge in Johannesburg trade after the miner says it has reached an agreement with South Africa's Mpumalanga provincial government over environmental concerns that could have caused the closure of its Mooiplaats colliery. The government told Coal of Africa last week to shut down the operation within 24 hours or submit an application to show how the environmental issues would be rectified, a company official told Reuters last week. The official declined to elaborate on the environmental problem. Shares of Coal of Africa are up 7 percent at 8.4 rand, having risen as much as 12 percent at the start of trade. Reuters Messaging rm//: Keywords: MARKETS AFRICA STOCKSNEWS COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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