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Welcome to the Sharenet Daily Equity Report Issue: 07 January 2011 20:00 |
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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![[IMAGE]](image.php@width=300&cropratio=2%253A1&image=%252Fnewsimages%252F2011-01-07T120124Z_01_AJOE7060XEE00_RTROPTP_3_OZABS-MOZAMBIQUE-TELECOMUNICATIONS-20110107.JPG "To match feature AFRICA-PHONES/") 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 |
![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-06T074007Z_01_AJOE7050LAX00_RTROPTP_3_OZABS-MARKETS-SAFRICA-MORNING-20110106.JPG "A BANK TELLER LOOKS AT 50 AND 100 SOUTH AFRICAN RAND NOTES.") 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 | ![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-07T062705Z_01_AJOE7060HX700_RTROPTP_3_OZABS-SAFRICA-RESERVES-20110107.JPG "U.S. dollar notes are piled up after counting at a bank in Seoul") 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 | ![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-06T170222Z_01_AJOE7051BC000_RTROPTP_3_OZABS-MARKETS-SAFRICA-CLOSE-20110106.JPG "Electronic board displaying movements in major indices is seen at Johannesburg stock exchange in Sandton") 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 | ![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-06T170248Z_01_AJOE7051BCP00_RTROPTP_3_OZABS-SAFRICA-COAL-QUEUES-20110106.JPG "A coal merchant shovels coal at a coal yard in Melmerby, northern England") 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
| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 07/01/2011 | 118 | 199 | 81 | 398 | 211,300,472 | R8,755,916,949 | 85082 | 2277413 |
| 06/01/2011 | 181 | 113 | 78 | 372 | 162,860,769 | R8,759,627,042 | 76609 | 2067560 |
| 05/01/2011 | 124 | 202 | 78 | 404 | 218,477,384 | R9,360,537,859 | 85269 | 2066792 |
| 04/01/2011 | 200 | 143 | 67 | 410 | 152,934,849 | R7,361,068,917 | 72300 | 1983870 |
| 03/01/2011 | 187 | 125 | 78 | 390 | 128,050,031 | R3,762,540,166 | 53672 | 872405 |
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| Date | Time | Headline |
| 07/01/2011 | 17:25 | OML - Old Mutual Plc - Form 8.3 |
| 07/01/2011 | 17:05 | Zurich Insurance Company South Africa Limited - Revised trading statement |
| 07/01/2011 | 16:28 | Dialogue Group Holdings Limited - Posting of circular and notice of |
| 07/01/2011 | 15:30 | Litha - Dealing in Securities |
| 07/01/2011 | 10:00 | Redefine Properties Limited |
| 07/01/2011 | 09:32 | Great Basin Gold - Dealings In Securities By The Company Secretary |
| 07/01/2011 | 09:06 | Capital Shopping Centres Group Plc - Announcement of revised Trafford |
| 07/01/2011 | 09:00 | GEN - General - Amendments to Listings Requirements in light of the Companies |
| 07/01/2011 | 07:21 | AGLIRR - Investec Bank Limited - Notice of Barrier for the Barrier Put Warrant |
| 07/01/2011 | 07:17 | Anglo American Plc - Treasury Shares - Transfers |
| 07/01/2011 | 07:16 | BHP Billiton Plc - Transaction in shares |
| 07/01/2011 | 07:15 | BHP Billiton Plc - - Annual Information Update |
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