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 Issue: 07 January 2011 20:00

S.Africa stocks drop on miners, rand reverses losses

By Gugulakhe Lourie and Stella Mapenzauswa

JOHANNESBURG (Reuters) - South African resource-heavy stocks slipped on Friday, as a stronger dollar induced investors to take profit from firmer mining shares.

The rand reversed earlier losses against the greenback despite data showing the central bank took advantage of its gains in December to build up foreign currency reserves.

The JSE Top-40 index of blue chips was down 0.68 percent to 28,415.54, while the broader All-share index dropped 0.58 percent to 31,929.72.

"It's just the miners that have brought us down," David Shapiro, a trader at Sasfin said.

The JSE gold mining indices fell 0.97 percent, bringing its decline in the year-to-date to 5.1 percent.

Charts suggest the index has a plenty of upside. It's 14-day relative strength index is around 34, just above the oversold level of 30.

The world's third-biggest platinum producer Lonmin lost 1.9 percent to 199 rand and AngloGold Ashanti dropped 1.79 percent to 306.90 rand.

Bourse and mining heavyweight BHP Billiton was down 1.51 percent to 262.30 rand and rival miner Anglo American lost 1.43 percent to 344.90 rand.

The rand fell to a session low of 6.8550/dollar, its weakest level since Dec 20. before recovering to 6.7790 by 1554 GMT, up 0.16 percent from Thursday's close at 6.79.

Earlier, data showed South Africa's net gold and foreign exchange reserves edged higher to $43.353 billion at the end of December from $43.08 billion in November.

The central bank attempted to step up its building of reserves during 2010 to try and curb rand strength but the domestic currency is still up 8 percent against the dollar since the start of last year.

"The Treasury's measures to try to cap the rand still appear to have no impact," RBC Capital Markets said in a note, adding:

"A sense that the rand is overvalued and overheld will likely eventually lead to some limited weakening during the year."

The rand has however shed about 2 percent this week as data pointing to recovery in the U.S. economy boosted the dollar.

Government bonds fell on Friday, nudging the yield on the benchmark 2015 bond up 2.5 basis points to 7.265 percent and that for the longer-dated 2026 note 3.5 basis points higher to 8.25 percent.

Fri, 07 Jan 2011

Movitel, Mozambique's third biggest mobile phone operator, will invest $120 million in the next 12 months to built infrastructure, its chief executive said on Friday.  Full story
A pioneer investor in farmland and the food price rally is looking ahead to new trends -- war, epidemics and climate change as the investment opportunities of the future.  Full story
Chinese companies have been involved in major overseas M&A deals in their quest to go global, but the track record has been mixed, with Xinmao the latest to fail in a 1 billion-euro ($1.3 billion) bid to buy Holland's Draka .  Full story
China's gold output is expected to have exceeded 340 tonnes in 2010, the Ministry of Industry and Information Technology said on Friday, which if confirmed would set a new record.  Full story

09h24 South Africa's rand eased against the dollar in Friday but should be largely rangebound ahead of U.S. jobs data that should. . .  Full story
08h16 South Africa's net gold and foreign exchange reserves stood at $43.353 billion at the end of December from $43.08 billion in. . .  Full story
South Africa's rand yielded further ground against the dollar on Thursday, weakening more than 1.7 percent to a two-week low as. . .  Full story
South Africa has joined coal exporters facing shipment delays after three derailments on the line from mines to Richards Bay Coal. . .  Full story

Trading Statistics


Major Moves Up
SharenameSaleMove% MoveVolume
1 WITSGOLD  60005009.09.%1300
2 SABVEST-N  652508.31.%50000
3 S-OCEAN  230104.55.%2000
4 ILIAD  900384.41.%12462
5 BAUBA  250104.17.%4871
6 ARB  320103.23.%4000
7 SENTULA  30893.01.%3146003
8 SACOIL  17452.96.%1667265
9 RESILIENT  3395852.57.%355813
10 JUBILEE  33582.45.%69636
11 KEATON   445102.30.%74908
12 ZEDER  26051.96.%188194
13 GBGOLD  1866351.91.%3050
14 HCI  81751501.87.%9102
15 PHUMELELA  1100201.85.%800
16 DRDGOLD  33461.83.%337466
17 COMPCLEAR  28551.79.%2062
18 BASREAD  1260201.61.%25305
19 REDEFINTL  635101.60.%52900
20 AFRIMAT  33551.52.%72200

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Major Moves Down
SharenameSaleMove% MoveVolume
1 KGMEDIA  1675-124-6.89.%5800
2 DELTA  955-45-4.50.%2750
3 WESCOAL  116-4-3.33.%385281
4 UNIVERSAL  145-5-3.33.%10000
5 ELLIES   220-7-3.08.%50066
6 MERAFE  165-5-2.94.%2104598
7 RAINBOW  1650-50-2.94.%116831
8 METROFILE  204-6-2.86.%96500
9 ILLOVO  2630-75-2.77.%98768
10 GOLDONE  229-6-2.55.%84450
11 ADCORP  2575-65-2.46.%133398
12 BELL  1000-25-2.44.%17069
13 VERIMARK  160-4-2.44.%61231
14 OCEANA  3905-95-2.38.%7400
15 TELKOM  3762-88-2.29.%242159
16 CMH  1300-30-2.26.%13199
17 AFGRI  735-15-2.00.%358877
18 STANBANK  10790-210-1.91.%4025701
19 LONMIN  19900-385-1.90.%254478
20 TONGAAT  10698-202-1.85.%37597

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New Highs
SharenameSaleHighMove% MoveVolume
1 SABVEST-N  652652508.31.%50000
2 VALUE  39539651.28.%100000
3 WBHO  14086142001611.16.%129385
4 REUNERT  68736884550.81.%645184
5 REMGRO  1147511500750.66.%664401
6 TIGBRANDS  19800199501000.51.%468860
7 LITHA  2902980.149658
8 EXXARO  1460014823-50-0.34.%818468
9 FIRSTRAND  19982018-17-0.84.%7181706

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New Lows
SharenameSaleLowMove% MoveVolume
1 CAPITEC-N  40003950-60-1.48.%11050
2 BAUBA  250200104.17.%4871

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Spot Prices
NameTimeRPMove% Move
JSE Overall17:0031929.72-186.16-0.58%
JSE Top 4017:0028415.54-193.28-0.68%
JSE Gold17:002554.28-24.97-0.97%
JSE Financial17:0021936.03-143.66-0.65%
JSE Industrial17:0032144.00-29.66-0.09%
JSE Indust 2517:0026600.06-20.83-0.08%
JSE Resource17:0055476.93-589.64-1.05%
DJ Futures19:4611582.00-64.00-0.55%
DJ Ind19:4111612.55-84.76-0.72%
SP 50019:501263.66-10.19-0.80%
FTSE 10018:355984.33-35.18-0.58%
All Ords07:414812.00-19.10-0.40%
NZSE 5006:523317.94-8.77-0.26%
NameTimeRPMove% Move
Gold/R kg19:562993315890.20%
Brent Crude19:5692.53-1.55-1.65%
Rand / Dollar19:586.81110.03460.51%
Rand / Pound19:5510.56520.10531.01%
Rand / Euro19:558.8032-0.0221-0.25%
Rand / NZD19:575.15730.03210.63%
Rand / AUD19:556.76980.01680.25%
Yen / Dollar19:5782.9400-0.3400-0.41%
Euro / Dollar19:550.77410.00510.66%
Dollar / Euro19:581.2925-0.0080-0.62%
Pound / Dollar19:550.6430-0.0039-0.60%

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Index Summary
Index NameRPMove% Move
Top 4028,415.54-193.28-0.68%
Mid Cap43,848.49-11.54-0.03%
Small Cap33,706.24-99.77-0.30%
Resource 2055,476.93-589.64-1.05%
Industrial 2526,600.06-20.83-0.08%
Financial 158,268.82-70.11-0.84%
Financial & Ind. 3029,933.86-101.27-0.34%
All Share31,929.72-186.16-0.58%
Oil & Gas 25,637.03-141.84-0.55%
Mining 36,697.44-415.73-1.12%
Gold Mining2,554.28-24.97-0.97%
Platinum Mining82.87.310.38%
Oil & Gas Producers 13,784.56-76.26-0.55%
Basic Materials 30,814.91-337.68-1.08%
Chemicals 13,611.2259.860.44%
Forestry & Paper 12,822.24-115.00-0.89%
Industrial Metals 28,213.45-245.95-0.86%
Industrials 30,491.63109.810.36%
General Industrials 78,253.66470.630.61%
Consumer Goods 25,850.8050.040.19%
Automobiles & Parts 2,830.57.000.00%
Household Goods160.2810.84%
Health Care 33,019.49-145.11-0.44%
Beverages 81,424.80758.620.94%
Food Producers 48,974.50-317.50-0.64%
Index NameRPMove% Move
Personal Goods 380.13-2.70-0.71%
Consumer Services 53,851.80-275.50-0.51%
General Retailers 41,781.05-100.41-0.24%
Travel & Leisure 4,255.4028.820.68%
Media 84,195.61-546.80-0.65%
Support Services 2,591.08.900.03%
Telecommunications 63,659.78-84.48-0.13%
Financials 21,936.03-143.66-0.65%
Banks 41,403.35-487.88-1.16%
Non-life Insurance 32,
Life Insurance 15,469.47-75.45-0.49%
General Financial 2,413.391.900.08%
Technology 20,779.0710.070.05%
SHARIAH TOP40 3,167.33-29-0.91%
FTSE/JSE SHARIAH ALL3,242.99-28-0.85%
COAL MINING20,055.14-50-0.25%
FTSE JSE Fledgling 4,803.03-14-0.29%
FTSE/JSE Alt X 1,144.14-3-0.29%
RESOURCE 30,522.94-324-1.05%
DIVIDEND PLUS178.29-1-0.44%
FTSE/JSE RAFI 406,627.63-40-0.60%
Capped Top 4014,797.10-87-0.59%
Capped All Share16,073.57-87-0.54%

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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
REUNERT5.511-01-0511-01-2111-01-31R 0.0550
TELEMASTR10-12-2211-01-1411-01-24R 0.0400
MERCHANT10-12-1711-01-1411-01-24R 0.1100
O-LINE10-12-1711-01-1411-01-24R 0.0200
SBRJSEP1110-12-1511-03-0411-03-15R 1.4100
Ex Div**
Share NameDec-DateLDTPay-DateAmount
TIGBRANDS10-11-2411-01-0711-01-17R 2.4100
TIGBRANDS10-11-2411-01-0711-01-17R 2.3500
OCEANA10-11-1111-01-0711-01-17R 1.7500
TFG10-11-1610-12-3111-01-10R 1.3800
PPC10-11-0911-01-0711-01-17R 1.3000

Upcoming AGMs**
CodeCompany NameDateStatus
BCXBusiness Connexion Group Ltd13/01/2011Confirmed
AETAlert Steel Holdings Ltd13/01/2011Confirmed
DNPPDistribution and Warehousing Network Ltd14/01/2011Confirmed
DAWDistribution and Warehousing Network Ltd14/01/2011Confirmed
MMHMiranda Mineral Holdings Ltd14/01/2011Unconfirmed

Stock Exchange News Service
07/01/201117:25OML - Old Mutual Plc - Form 8.3
07/01/201117:05 Zurich Insurance Company South Africa Limited - Revised trading statement
07/01/201116:28 Dialogue Group Holdings Limited - Posting of circular and notice of
07/01/201115:30 Litha - Dealing in Securities
07/01/201110:00Redefine Properties Limited
07/01/201109:32 Great Basin Gold - Dealings In Securities By The Company Secretary
07/01/201109:06 Capital Shopping Centres Group Plc - Announcement of revised Trafford
07/01/201109:00GEN - General - Amendments to Listings Requirements in light of the Companies
07/01/201107:21AGLIRR - Investec Bank Limited - Notice of Barrier for the Barrier Put Warrant
07/01/201107:17 Anglo American Plc - Treasury Shares - Transfers
07/01/201107:16 BHP Billiton Plc - Transaction in shares
07/01/201107:15 BHP Billiton Plc - - Annual Information Update

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