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Volume in Q Data sees shares climb in ho... |
Volume in Q Data sees shares climb in hope of Persetel dealENORMOUS volume in Q Data saw spin-off climbs in linked shares on renewed hope that a deal might be struck with the fancied Persetel. Q Data picked up 23% this week alone to R11.25. Grinaker added 10% to 780c, 11% Grintekto 345c and Siltek 3% to R21 on the back of the Q Data cautionary. Good results from Persetel helped lift the price 5% to R35.30. There was plenty of action in the electronics sector. Jasco jumped from 280c to 345c on the issue of shares for cash at 200c to Captall and on the sale of Scientific Group to Macmed. This lifts pro forma net asset value by 163% to 347c and earnings a share by 55% to 39.6c. Anbeeco shed 96c to 128c after it withdrew a cautionary. Voltex added 28c to 300c on a warning from it and shareholder Berzack. Telemetrix plc added 20c to 545c after more than doubling earnings to 2.3p. Stantronic shed 14c to 124c; it issued shares at between 100c and 102c for three businesses. Datatec also lost ground after acquiring Logical Networks plc for £12-million and up to £20-million more, settled in scrip placed partly at 2 345c and at 2 100c. Datatec eased 100c to R33. Punters' favourite Usko picked up 17% to 89c. The company is known to be shopping. The market was mixed, the all-share index edging up 13 points to 7 457. The rand dropped about 7c to 463c to the dollar, but gold held up, closing above $325 in London. Some profit-taking was evident, notably in financials. Captall shed another 100c to R35, Nedcor 450c to R95, First National 225c to R37.75, Liberty 300c to R143.50 and Gensec 525c to R66 - its results were sound but prospects depend broadly on how the JSE performs. Southern Life shed 25c to R50: its asset management company effected R2-billion worth of portfolio changes but individual stocks were not specified. Other financials firmed, including BoE, Coronation, Investec, Stanbic and Norwich. Gencor settled at R10.80 after this week's listing of Billiton. Holders of 100 Gencor received 75 Billiton - trading at R16.70 - and 25 fully paid Billiton letters of allocation trading at R16.40. Gencor was consolidated five for one. Nail shed 10c to 370c after announcing a R1-billion rights offer. It was nevertheless up 10c on the week. There was furious trade in Samrand at between 22c and 30c, closing at 24c, and Solchemfirmed 18c to 264c on the R172-million acquisition of investment portfolio Chester. Educor gained nearly 10% to 528c and M-Cell hit 690c, closing 7% higher at 654c. Armato bought Pepe Confectioners for R160-million and Alpine for R20-million through the issue of scrip at 500c. It added 10c to 560c. Sweets are flavour of the month; Afribrand is well subscribed ahead of this week's listing. Good results from Profurn lifted the price 15c to 245c.
JULIE WALKER
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