South African Stocks Rise, Led by Anglo American, BHP Billiton

South African shares gained, led by Anglo American Plc after HSBC Holdings Plc raised its recommendation in the world's second-largest mining company.

The FTSE/JSE Africa All Share Index added 107.85, or 0.4 percent, to 29,235.27 at 9:26 a.m. in Johannesburg, as 58 stocks gained, 19 dropped and 82 were unchanged.

Anglo American, the world's second-biggest mining company, climbed 1.51 rand, or 0.4 percent, to 398.70. HSBC raised its recommendation on Anglo American to ``overweight'' from ``neutral.'' Larger rival BHP advanced 1.50 rand, or 0.7 percent, to 211.

Copper for delivery in three months climbed as much as 2.1 percent to $6,700 a metric ton in London on speculation that manufacturers in China, the world's biggest consumer of the metal, have stepped up purchases to take advantage of the lowest price in almost nine months. The metal used in wiring and plumbing has dropped 5 percent this week. Nickel, lead, zinc and aluminum prices also rose.

Harmony Gold Mining Co., South Africa's third-largest gold producer, added 50 cents, or 0.7 percent, to 69.30. Gold for immediate delivery advanced 0.9 percent to $811.40 an ounce as the dollar fell to a record low against the euro and oil prices held above $97 a barrel, boosting bullion's appeal as an alternative investment and hedge against inflation.
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