Woolworths Gains to Record; Citi Raises Consumer Stocks

Woolworths Holdings Ltd., Truworths International Ltd. and Foschini Group Ltd. surged to records after Citigroup Inc. named the South African retailers top “buys” among emerging-market consumer stocks.

Woolworths rose to the strongest closing level since October 1997, gaining 3.5 percent to 36.45 rand at the 5 p.m. close in Johannesburg, while Truworths increased for a third day, rising 1 percent to 77.55 rand. Foschini rallied 2.4 percent to 95.10 rand, the highest since August 1990.