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 Issue: 05 January 2011 20:00

Miners pull down S. African shares, rand falls vs dlr

By Gugulakhe Lourie and Vuyani Ndaba

JOHANNESBURG (Reuters) - South African assets took a knock on Wednesday along with other emerging markets as commodity stocks suffered profit taking and positive U.S. jobs data boosted the dollar against the rand.

At 1544 GMT the rand traded at 6.7360 against the dollar, 0.84 percent weaker than Tuesday's close of 6.68. Earlier on Wednesday it dropped more than 1 percent to a session low of 6.7525.

Mining stocks, stung by a fall in metals prices, dragged the resource-heavy JSE Top-40 index of blue chips down by 1.49 percent to 28,502.97. The broader All-share index fell 1.29 percent to 32,010.53.

Technical levels suggest the index still has plenty of upside though. Its 14-day relative strength index, or RSI, is at 54, way below the overbought mark of 70.

"After a good run ... the market was actually overheating and profit taking is always necessary," Martin Lentsoane, a trader at NEWS Trading, said.

"I wouldn't start pressing the panic buttons as yet. I think we can still go up, the market is looking for a recovery."

The JSE gold mining and platinum indices dropped 1.06 percent and 2.88 percent, respectively.

Impala Platinum (Implats) lost 3.56 percent to 227.11 rand and Anglo American dropped 3.13 percent to 347.75 rand.

Bourse and mining heavyweight BHP Billiton dipped 2.23 percent to 262.22 rand and platinum producer Lonmin fell 2.9 percent to 201 rand.

A recent series of upbeat economic data has raised hopes for a sustainable U.S. recovery, lifting the dollar against emerging market currencies like the rand. An ADP Employer Services report on Wednesday showed U.S. private employers added 297,000 jobs in December.

"We had a bit of an unexpected ADP number out which was dollar positive and we saw euro-dollar coming off," said a Johannesburg trader, adding the rand took its cue from the European currency.


South African government bonds rallied and yields fell, with the benchmark 2015 yield dropping 20.5 basis points to 7.215 percent while the yield on the 2026 bond fell 21 basis points to 8.185 percent.

"There was a coupon paid out in December and it was not spent. The guys kept the money in cash for year-end liquidity and now they are coming to spend the cash a little bit," a bond dealer in Johannesburg said.

"There is not much stock in issue at the moment, the first auction is only going to be next week, so we need a bit of buying in the bond market."

South African bonds have also been supported in recent weeks by market expectations that South Africa will cut interest rates this month as inflation remains benign while economic growth is still subdued after a recession in 2009.

Wed, 05 Jan 2011

South Africa's rand weakened 1 percent against the dollar on Wednesday as favourable jobs data out of the U.S. boosted the greenback.  Full story
The clock is ticking for Ivory Coast to pay interest on a $2.3 billion bond and investors are sceptical the West African country, in the midst of a tense political stand-off, will avoid its second debt default in little over a decade.  Full story
More governments around the world are moving to keep their currencies from strengthening or control the flow of money into their economies as investors pour money into higher-yielding markets, turning their backs on low interest rates in developed economies.  Full story
Ghana joined the club of oil-producing nations in December, offering it the chance to transform the fortunes of its aid-dependent economy.  Full story

12h15 South African Pioneer Food Group will spend about 1 billion rand in the current financial year on expansion projects, it said. . .  Full story
09h10 South Africa's rand gave up further ground against the dollar on Wednesday after sharp losses overnight and looked set to remain. . .  Full story
South Africa's rand fell as much as 1.2 percent against the dollar on Tuesday as import pressure built up after the. . .  Full story
South Africa's 2010 coal exports rose nearly 4 percent to 63.43 million tonnes, boosted by demand from China and India, the. . .  Full story

Trading Statistics


Major Moves Up
SharenameSaleMove% MoveVolume
1 SACOIL  1611812.59.%1762544
2 ALTRON  28952158.02.%12290
3 DIGICOR  305144.81.%105270
4 EHSV  85003904.81.%1877626
5 TREMATON  12054.35.%50000
6 VERIMARK  15564.03.%9556
7 MUSTEK  510183.66.%301000
8 AFRO-C  16653.11.%10878
9 REDEFINTL  640182.89.%29500
10 CADIZ  34992.65.%23643
11 VALUE  390102.63.%320000
12 KEATON   431112.62.%54532
13 ASSORE  193404392.32.%11568
14 AQUARIUS  3879741.94.%168178
15 GOLDONE  22941.78.%145042
16 MMI-HLDGS  1730301.76.%7425346
17 VUKILE  1476211.44.%100326
18 KELLY  43661.40.%76770
19 PANPROP  1981261.33.%362549
20 JUBILEE  33441.21.%53809

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Major Moves Down
SharenameSaleMove% MoveVolume
1 ILIAD  860-130-13.13.%167316
2 PBT  121-14-10.37.%1038
3 MASONITE  3450-249-6.73.%2281
4 GBGOLD  1831-109-5.62.%4773
5 URONE  3095-164-5.03.%24685
6 ANOORAQ  985-50-4.83.%39650
7 IMPLATS  22711-839-3.56.%2383610
8 MERAFE  165-6-3.51.%3224545
9 CAPITEC-N  4055-145-3.45.%6095
10 ANGLO  34775-1125-3.13.%3599792
11 OANDO  315-10-3.08.%20000
12 LEWIS  7980-250-3.04.%71584
13 LONMIN  20100-600-2.90.%636397
14 EASTPLATS  1175-35-2.89.%2517
15 TRENCOR  3205-95-2.88.%150600
16 AVUSA  2225-64-2.80.%64456
17 RICHEMONT  3762-106-2.74.%8170437
18 ROLFES  180-5-2.70.%1500
19 PINNACLE  691-19-2.68.%66430
20 JASCO  146-4-2.67.%72300

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New Highs
SharenameSaleHighMove% MoveVolume
1 TREMATON  12012054.35.%50000
2 VERIMARK  15515564.03.%9556
3 VALUE  390395102.63.%320000
4 RMBH  39253932391.00.%969174
5 TELKOM  38983920280.72.%521709
6 FIRSTRAND  20002012110.55.%8415123
7 REUNERT  68006880100.15.%205465
8 METAIR  12411422-4-0.32.%58662
9 EXXARO  1443014594-70-0.48.%466166
10 NASPERSN  3912040000-840-2.10.%560123
11 METOREX  577598-13-2.20.%2614567

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New Lows
SharenameSaleLowMove% MoveVolume

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Spot Prices
NameTimeRPMove% Move
JSE Overall17:0032010.53-416.87-1.29%
JSE Top 4017:0028502.97-430.61-1.49%
JSE Gold17:002586.96-27.66-1.06%
JSE Financial17:0021954.0532.990.15%
JSE Industrial17:0032145.27-345.36-1.06%
JSE Indust 2517:0026593.30-325.03-1.21%
JSE Resource17:0055809.31-1252.36-2.19%
DJ Futures19:4011670.0051.000.44%
DJ Ind19:4511736.2945.110.39%
SP 50019:161275.565.360.42%
FTSE 10018:356043.8629.990.50%
All Ords07:384820.90-28.60-0.59%
NZSE 5006:263324.9915.960.48%
NameTimeRPMove% Move
Gold/R kg20:00296270-1034-0.35%
Brent Crude19:5695.102.562.77%
Rand / Dollar19:596.69430.02680.40%
Rand / Pound19:5510.3485-0.0130-0.13%
Rand / Euro19:558.8328-0.0377-0.43%
Rand / NZD19:585.1100-0.0023-0.04%
Rand / AUD19:556.71100.00570.09%
Yen / Dollar19:5983.17001.11001.35%
Euro / Dollar19:550.75790.00680.91%
Dollar / Euro19:591.3190-0.0121-0.91%
Pound / Dollar19:550.64490.00390.61%

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Index Summary
Index NameRPMove% Move
Top 4028,502.97-430.61-1.49%
Mid Cap43,817.66-52.51-0.12%
Small Cap33,759.00-197.86-0.58%
Resource 2055,809.31-1252.36-2.19%
Industrial 2526,593.30-325.03-1.21%
Financial 158,285.659.840.12%
Financial & Ind. 3029,953.93-254.91-0.84%
All Share32,010.53-416.87-1.29%
Oil & Gas 25,971.03-247.43-0.94%
Mining 36,880.06-893.25-2.36%
Gold Mining2,586.96-27.66-1.06%
Platinum Mining83.31-2.47-2.88%
Oil & Gas Producers 13,964.14-133.04-0.94%
Basic Materials 30,974.13-685.85-2.17%
Chemicals 13,658.32-54.06-0.39%
Forestry & Paper 12,918.8298.010.76%
Industrial Metals 28,444.81-63.73-0.22%
Industrials 30,424.69-59.45-0.20%
General Industrials 77,781.60-108.10-0.14%
Consumer Goods 25,540.95-407.65-1.57%
Automobiles & Parts 2,810.19-9.06-0.32%
Household Goods158.75-2-0.99%
Health Care 32,973.70-352.36-1.06%
Beverages 80,153.61-936.31-1.15%
Food Producers 48,970.33-175.90-0.36%
Index NameRPMove% Move
Personal Goods 375.73-10.59-2.74%
Consumer Services 54,402.29-756.63-1.37%
General Retailers 41,779.38-285.79-0.68%
Travel & Leisure 4,230.79-2.46-0.06%
Media 86,133.26-1840.16-2.09%
Support Services 2,588.70-121.90-4.50%
Telecommunications 64,295.57-602.37-0.93%
Financials 21,954.0532.990.15%
Banks 41,697.4089.850.22%
Non-life Insurance 32,248.87240.070.75%
Life Insurance 15,375.0554.340.35%
General Financial 2,402.58-4.44-0.18%
Technology 20,498.79-229.13-1.11%
SHARIAH TOP40 3,187.68-63-1.93%
FTSE/JSE SHARIAH ALL3,262.79-59-1.78%
COAL MINING19,731.34-133-0.67%
FTSE JSE Fledgling 4,793.96380.80%
FTSE/JSE Alt X 1,143.56-16-1.39%
RESOURCE 30,705.05-688-2.19%
DIVIDEND PLUS179.0300.04%
FTSE/JSE RAFI 406,650.69-73-1.08%
Capped Top 4014,843.75-207-1.37%
Capped All Share16,115.47-201-1.23%

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Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
12 Jan 2011MASNovember 2010 (Q)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
TELEMASTR10-12-2211-01-1411-01-24R 0.0400
AFROC-P10-12-2111-01-0711-01-17R 0.2108
AFRO-C10-12-2111-01-0711-01-17R 0.0750
JASCO10-12-2011-01-0711-01-17R 0.0300
O-LINE10-12-1711-01-1411-01-24R 0.0200
Ex Div**
Share NameDec-DateLDTPay-DateAmount
TFG10-11-1610-12-3111-01-10R 1.3800
CROOKES10-11-3010-12-3111-01-10R 0.4500
ILLOVO10-11-1810-12-3111-01-10R 0.2200
AFPREFINV10-12-1010-12-3111-01-10R 0.1119
CLOVERPREF10-12-2110-12-3111-01-10R 0.0610

Upcoming AGMs**
CodeCompany NameDateStatus

Stock Exchange News Service
05/01/201116:35 Spur - Dealing in Securities by director of major subsidiary company
05/01/201116:33SWIX40 - The Standard Bank of South Africa Limited - Suspension and cancellation
05/01/201115:46 Queensgate - Renewal of Cautionary Announcement
05/01/201115:29RLZP - Reunert Limited - Declaration of Dividend No. 51 5,5% cumulative
05/01/201115:15 Queensgate - Withdrawal of Announcement
05/01/201115:10SCIB - The Standard Bank of South Africa Limited - Suspension and cancellation
05/01/201115:10 Anglo American Plc - Directors` Interests
05/01/201114:58 Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of
05/01/201114:00 British American Tobacco P.l.c. - Notification Of Transactions Of
05/01/201112:35 Capital Shopping Centres Group Plc - Completion of US transaction with
05/01/201111:38 Cenmag Holdings Limited - Director`s dealings in securities
05/01/201109:19 BHP Billiton Plc - Transaction in shares
05/01/201107:14AGLIRR - Investec Bank Limited - Notice of barrier for the barrier put warrant
05/01/201107:06 BHP Billiton Plc - Notification of Change of Interests of Directors and
05/01/201107:05 BHP Billiton Plc - Appointment of Baroness Shriti Vadera

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