Barloworld picks up R1.8bn after terse cautionary

Shares in industrial services group Barloworld surged on Monday after it warned investors it was involved in negotiations that may affect the price of its shares.

The group, which supplies industrial and mining equipment and is the official supplier of Caterpillar machinery in multiple African countries, as well as Russia, offered no more detail than this. But its shares were up 9% in afternoon trade, valuing it at about R14.9 billion on the JSE.

At almost 1.9 million shares traded by the afternoon, the volume was more than six times its daily average, and it had begun the day valued at just over R13 billion.