Harmony Gold guides for strong H2 2016 earnings growth

• Harmony Gold (HMY +2.3%) opens higher after disclosing an H2 2016 guidance update for EPS of ZAR 1.39-1.60, which is 235%-255% higher than the headline loss of ZAR 103 cents/share reported for the year-ago period.
• In U.S. dollar terms, headline EPS are seen at $0.10-$0.11/share, or 230%-255% higher than the headline loss of $0.08 reported for the year-ago period.
• HMY cites an increase in the average gold spot price received, the recognition of a gain on the Hidden Valley acquisition, and gains recognized in gold and currency hedges.