Sibanye Gold: Allan Gray raises stake above 10%

Sibanye Gold shares advanced 4.8 percent in early trade yesterday, after investment manager Allan Gray said it would lift its stake in the gold producer on behalf of clients. The fund manager said it had raised its stake in Sibanye to 10.13 percent and also increased its stake in Astral Foods to 15.08 percent. Shares of both companies have performed dismally recently. Sibanye posted poor financial results after it listed on the JSE in the first quarter, and chicken producer Astral Foods said last week that its profit had slumped. Astral Foods’ shares closed 1.31 percent lower at R86.06 and Sibanye closed 4.16 percent higher at R7.01. – Dineo Faku