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Welcome to the Sharenet Daily Equity Report Issue: 13 January 2011 20:00 |
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By David Dolan and Stella Mapenzauswa
JOHANNESBURG (Reuters) - South African blue-chip stocks booked another 2-1/2-year closing high on Thursday, rising 0.6 percent as shares of Anglo Platinum and other resource companies continued their recent run.
The rand failed to match a rally by other emerging market currencies against the dollar, partly weighed by central bank intervention to mop up the greenback.
Anglo Platinum, the world's largest producer of the precious metal, jumped more than 3.7 percent to 750 rand after it said full-year earnings likely rose as much as seven-fold. Angloplat said it benefited from higher platinum prices in the year to end-December.
Platinum, which rose 20 percent in 2010, hit its highest since July 2008 on Thursday.
"I'm fairly bullish," said Abri Du Plessis, chief investment officer of Gryphon Asset Management, about the outlook for long-term commodity prices.
"Resources are becoming scarcer and scarcer," he said, adding the scarcity would ultimately benefit commodities companies, he said.
Johannesburg's Top-40 index finished up 160.30 points at 29,199.02, its highest close since June 2008, and its second 2-1/2-year straight 2-1/2-year closing high. The broader All-share index rose 0.5 percent to 32,632.15, its highest finish since May 2008.
Other platinum producers also gained, with Lonmin, the world's third-largest producer of the metal, gaining 2 percent to 202 rand.
SHORT DOLLAR
By 1538 GMT the rand was at 6.8150 to the dollar, barely changed from Wednesday's close at 6.8255.
"Euro-dollar is higher ... and it seems like ... people are now sort of establishing a more short dollar position. So we're seeing basically a lot of emerging market currencies rally versus the dollar but the rand is not participating in the risk rally," said Imran Ahmad, emerging markets strategist at RBS.
"I think that's a continuation of the trend we've seen over the last week or so. There's been some intervention from the central bank," he said, adding that renewed focus on current deficits in the region also weighed.
Latest official data shows South Africa's current account deficit, traditionally the bane of the domestic unit, widened to 3.0 percent of GDP in the third quarter of 2010 from 2.5 percent in the second quarter.
The shortfall has however been covered by portfolio flows, which have helped lift the rand nearly 8 percent against the dollar since the start of 2009, according to Reuters data.
Government bonds fell on Thursday, and yields climbed higher, with the benchmark 2015 bond up 7.5 basis points to 7.49 percent and that for the longer-dated 2026 note 8.5 basis points higher at 8.5 percent.
Thu, 13 Jan 2011![[IMAGE]](image.php@width=300&cropratio=2%253A1&image=%252Fnewsimages%252F2011-01-13T170236Z_01_AJOE70C1BCE00_RTROPTP_3_OZABS-ANGLOPLATINUM-20110113.JPG "A worker casts an ingot of platinum at the Krastsvetmet nonferrous metals plant in the Siberian city of Krasnoyarsk") Anglo Platinum, the world's top producer of platinum, said on Thursday full-year profit likely rose as much as seven-fold, helped by higher metal prices. Full story |
Coal mining and transport in South Africa, one of the world's top five exporters, has been minimally affected by heavy rain since December but if the downpours continue and spread to the coal heartland there could be serious problems, industry sources said on Thursday. Full story Premiums for spot primary aluminium in Asia are unlikely to rise after Rio Tinto declared force majeure on shipments from its Boyne unit, due to weak demand and sufficient supplies. Full story South Korea's five utilities are
buying a combined up to 1.2 million tonnes of coal in the spot
market for February and March in case of additional shipment
delays from severe flooding in Australia's eastern state of
Queensland, a utility source said on Thursday. Full story |
![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-13T170329Z_01_AJOE70C1BDU00_RTROPTP_3_OZABS-ANGLOGOLD-20110113.JPG "A mine worker is seen underground in South Deep mine outside Johannesburg") 18h11 AngloGold Ashanti will resume operations at its Great Noligwa mine in South Africa late on Thursday, which were halted after a. . . Full story | ![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-13T102510Z_01_AJOE70C0SXZ00_RTROPTP_3_OZABS-STANDARDBANK-20110113.JPG "Businessmen chat in front of a Standard Bank logo in Sandton outside Johannesburg") 14h39 The stockbroking arm of South Africa's Standard Bank is looking to boost its headcount, including equity analysts, following the end of. . . Full story | ![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-13T103131Z_01_AJOE70C0T8K00_RTROPTP_3_OZABS-SAFRICA-SUGAR-20110113.JPG "A truck is loaded with organic sugar cane at Sao Fransisco sugar mill in Sertaozinho.") 12h31 South African sugar producers expect to have a better April 2011-March 2012 season due to good rains, after drought weighed on. . . Full story | ![[IMAGE]](image.php@width=140&cropratio=4%253A3&image=%252Fnewsimages%252F2011-01-13T101805Z_01_AJOE70C0SM600_RTROPTP_3_OZABS-SAFRICA-MAIZE-DELIVERIES-20110113.JPG "A vendor sells green maize on a truck in Hatcliff neighbourhood outside Zimbabwe's capital Harare") 12h17 Maize deliveries to South African silos were recorded at 11.727 million tonnes in the week to January 7 from 11.721 million. . . Full story |
Trading Statistics
| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 13/01/2011 | 186 | 153 | 80 | 419 | 271,910,461 | R11,644,695,806 | 105766 | 2227690 |
| 12/01/2011 | 222 | 127 | 82 | 431 | 259,089,146 | R11,531,545,870 | 97566 | 1974240 |
| 11/01/2011 | 206 | 132 | 74 | 412 | 329,874,720 | R18,027,283,427 | 120883 | 2044810 |
| 10/01/2011 | 110 | 186 | 92 | 388 | 228,787,082 | R10,998,111,154 | 90351 | 2103815 |
| 07/01/2011 | 118 | 199 | 81 | 398 | 211,300,472 | R8,755,916,949 | 85082 | 2277413 |
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