Daily Equity Report Sharenet Logo

Welcome to the Sharenet Daily Equity Report
 Issue: 08 March 2011 20:00

S.African stocks down for third day on weak copper prices

By Gugulakhe Lourie and Xola Potelwa

JOHANNESBURG (Reuters) - The South African resource-heavy bourse fell for a third straight day on Tuesday as weaker copper and other metal prices knocked resource stocks lower with the Libyan turmoil feeding investor worries.

Libya, along with a weaker euro also weighed down on the rand currency which faltered against the dollar after trading at a seven week high in the previous session.

Government bonds followed moves on the rand and the two benchmark notes for longer and shorter dated debt closed weaker on the day compared to Monday. However a well-covered government debt auction earlier in the session helped to cushion the fall.

The JSE Top-40 index of blue chips was down 1.6

percent to end 28,701.40 and the broader All-share index dropped 1.46 percent to 31,827.42.

"It's mostly the resources shares that have taken the market lower on weaker platinum and copper prices," Ferdi Heyneke, a portfolio manager at Afrifocus Securities said.

Copper fell to a two-week low and other metals hit their lowest since the end of January.

Bourse and mining heavyweight BHP Billiton dropped 3.62 percent to 267.70 rand and rival miner Anglo American lost 3.3 percent to 361.19 rand.

Lonmin, the world's third-biggest platinum producer, was down 3.89 percent to 202.49 rand and Impala Platinum lost 1.36 percent to 198.25 rand on weaker platinum prices.

"We think they have run hard and that the prices are stretched," Investec Asset Management Director, John Green, said at Reuters Africa investment summit, when asked about the prices of South African stocks.

Old Mutual, bucked the trend, gaining 1.93 percent to 15.31 rand after the Anglo-South African financial conglomerate posts forecasts-beating annual results.


The rand was 0.47 percent weaker at 6.9052 as of 1547 GMT, off a close of 6.8728 on Monday.

The dollar is finding the 6.85 support level difficult to breach, having tried last week and in this session and failed. It went as close as 6.8520 rand before retreating to 6.93 rand levels in this session.

"(The rand's weakness is) based on the movements on euro/dollar, the euro pulled back on the back of European debt fears emerging once again and the rand reacted accordingly," Craig Zaayman, managing director at Purple Capital Treasury.

The dollar has however not managed to breach 6.85 convincingly, also the 61.8 percent retracement of its rise this year, since early January during its uptrend which started reversing in mid -February

"Its getting a lot of support on that front," Zaayman said predicting some strength still in the rand in coming weeks.

"The medium term, three weeks to a month I do foresee 6.75 on the cards. A lot of indicators are for the rand to be stronger," Zaayman said.

A weekly debt auction earlier in the session provided some support for the bond market. National Treasury sold its 2017 and 2031 government bonds at a bid-to-cover ratio of 2.15 and 2.88 respectively.

The yield on the benchmark 2015 paper closed at 7.94 percent from 7.91 percent on Monday while the 15 year bond slipped to a 9.01 percent close from 9.005.

Tue, 08 Mar 2011

South Africa has replaced the company administering its Quattro coal exports allocation scheme, saying a former employee of the firm was suspected of major fraud, the department of mineral resources said.  Full story
South Africa would prefer a new global trade deal that boosts development rather than take a quick deal without such assurances, the country's trade minister said on Tuesday.  Full story
South Africa's SacOil expects to start production in Nigeria's delta region in the next three years, its executive director said on Tuesday.  Full story
Revenue rose to USD326.9 million (December 2009:USD152 million). A net loss of USD189.7 million (December 2009: Loss of USD36.1 million) was recorded. The basic and diluted loss per share was US31cps (December 2009: Basic and diluted loss per share of US8cps). Dividend No dividend has b  Full story

Crude oil refineries in South Africa have until 2017 to upgrade their plants, the country's energy minister said on Tuesday on. . .  Full story
South Africa's Royal Bafokeng Platinum reported a return to full-year profit on Tuesday and said it has secured a deal for. . .  Full story
South Africa exported 10,278 tonnes of white maize last week compared with 11,127 tonnes in the previous week, the South African. . .  Full story
Ghana gold production rose 1 percent in 2010 to 2.97 million ounces, while revenues during the year jumped 27 percent to. . .  Full story

Trading Statistics


Major Moves Up
SharenameSaleMove% MoveVolume
1 YORK  3805015.15.%2083
2 TRADEH  750486.84.%5002
3 KAP  235156.82.%13384
4 PREMIUM  16001006.67.%94336
5 CADIZ  348185.45.%4349
6 PALCAP  269114.26.%62535
7 SOVFOOD  545203.81.%87085
8 MRHLD  2600923.67.%2227375
9 PPC  2685752.87.%1110458
10 COMAIR  22162.79.%229200
11 AVENG  37501002.74.%2178993
12 RANGOLD  30582.69.%64451
13 RAUBEX  1899492.65.%480002
14 OCEANA  3800952.56.%2651
15 OCTODEC  1690402.42.%1219289
16 PINNACLE  700162.34.%31936
17 OLDMUTUAL  1531291.93.%31508243
18 NUWORLD  2745451.67.%400
19 HUGE  13521.50.%5908
20 SPURCORP  1420201.43.%6553

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 MASONITE  3000-500-14.29.%737
2 SACOIL  221-36-14.01.%6103027
3 JASCO  109-15-12.10.%130600
4 ANOORAQ  810-106-11.57.%50348
5 CMH  1200-135-10.11.%19034
6 URONE  4245-397-8.55.%27125
7 AQUARIUS  4214-312-6.89.%19427
8 HOSP-B  800-50-5.88.%225388
9 DATATEC  3300-205-5.85.%335034
10 AFRO-C  165-10-5.71.%20794
11 EHSV  9400-549-5.52.%55700
12 JUBILEE  312-18-5.45.%52414
13 CBH  350-19-5.15.%4900
14 TRNSHEX  266-13-4.66.%42939
15 PARACON  162-7-4.14.%40000
16 RMIH  1200-51-4.08.%24545582
17 EASTPLATS  1110-45-3.90.%25697
18 LONMIN  20249-819-3.89.%321261
19 PBT  125-5-3.85.%93041
20 CLICKS  3705-147-3.82.%1706387

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 CAPCO  17821800221.25.%358143
2 KUMBAIO  4750048489-802-1.66.%320279
3 EHSV  940010395-549-5.52.%55700

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 MASONITE  30003000-500-14.29.%737
2 JASCO  109109-15-12.10.%130600
3 BRAIT  17551748-44-2.45.%502614

Click here for more Major Moves...

Spot Prices
NameTimeRPMove% Move
JSE Overall17:0031827.42-470.79-1.46%
JSE Top 4017:0028701.40-467.05-1.60%
JSE Gold17:002682.41-21.48-0.79%
JSE Financial17:0021101.14-31.90-0.15%
JSE Industrial17:0031445.14-296.95-0.94%
JSE Indust 2517:0026341.33-256.56-0.96%
JSE Resource17:0057309.51-1492.48-2.54%
DJ Futures20:0012230.00152.001.26%
DJ Ind19:2112233.91143.881.19%
SP 50019:521323.1313.000.99%
FTSE 10018:355974.76.980.02%
All Ords07:404902.506.600.13%
NZSE 5006:563421.173.070.09%
NameTimeRPMove% Move
Gold/R kg20:00314663-2926-0.92%
Brent Crude19:56113.19-2.86-2.46%
Rand / Dollar19:586.8570-0.0160-0.23%
Rand / Pound19:5511.0811-0.0270-0.24%
Rand / Euro19:559.5661-0.0371-0.39%
Rand / NZD19:565.08810.02100.41%
Rand / AUD19:556.9530-0.0073-0.10%
Yen / Dollar19:5782.66000.36000.44%
Euro / Dollar19:550.71870.00310.43%
Dollar / Euro19:581.3908-0.0063-0.45%
Pound / Dollar19:550.61870.00190.31%

Click here for the Sharenet Spot Price page
Index Summary
Index NameRPMove% Move
Top 4028,701.40-467.05-1.60%
Mid Cap40,544.11-244.13-0.60%
Small Cap31,479.88-215.53-0.68%
Resource 2057,309.51-1492.48-2.54%
Industrial 2526,341.33-256.56-0.96%
Financial 158,008.02-8.03-0.10%
Financial & Ind. 3029,606.06-218.08-0.73%
All Share31,827.42-470.79-1.46%
Oil & Gas 29,095.93-269.82-0.92%
Mining 37,388.72-1073.84-2.79%
Gold Mining2,682.41-21.48-0.79%
Platinum Mining75.65-1.25-1.63%
Oil & Gas Producers 15,644.35-145.07-0.92%
Basic Materials 31,527.14-871.28-2.69%
Chemicals 13,324.90-96.91-0.72%
Forestry & Paper 14,045.62-264.32-1.85%
Industrial Metals 30,489.59-494.97-1.60%
Industrials 27,470.31-65.19-0.24%
General Industrials 75,747.57-839.76-1.10%
Consumer Goods 25,911.52-314.81-1.20%
Automobiles & Parts 3,011.732.260.08%
Household Goods160.1500.12%
Health Care 30,697.89-292.66-0.94%
Beverages 79,330.06-1141.34-1.42%
Food Producers 46,541.72-363.07-0.77%
Index NameRPMove% Move
Personal Goods 404.20-5.29-1.29%
Consumer Services 53,004.32-466.13-0.87%
General Retailers 38,878.13-287.28-0.73%
Travel & Leisure 3,733.84-21.06-0.56%
Media 88,258.85-725.20-0.81%
Support Services 2,414.41-2.88-0.12%
Telecommunications 61,420.51-397.92-0.64%
Financials 21,101.14-31.90-0.15%
Banks 38,801.09-122.74-0.32%
Non-life Insurance 31,523.82121.240.39%
Life Insurance 16,251.14152.320.95%
General Financial 2,256.18-14.30-0.63%
Technology 19,880.69-667.66-3.25%
SHARIAH TOP40 3,242.82-73-2.20%
FTSE/JSE SHARIAH ALL3,292.21-69-2.04%
COAL MINING21,552.04-334-1.52%
FTSE JSE Fledgling 4,621.33-41-0.89%
FTSE/JSE Alt X 1,063.63272.62%
CAPPED PROPERTY 300.92-0.54%
RESOURCE 31,533.46-823-2.54%
DIVIDEND PLUS163.84-1-0.50%
FTSE/JSE RAFI 406,697.83-80-1.18%
Capped Top 4014,915.05-209-1.38%
Capped All Share16,001.27-220-1.35%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
09 Mar 2011BOWCALFDecember 2010 (Interim)
09 Mar 2011GPL-PREFDecember 2010 (Interim)
09 Mar 2011GRANPRADEDecember 2010 (Interim)
09 Mar 2011JSEDecember 2010 (Final)
09 Mar 2011MTN GROUPDecember 2010 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
AMAPS11-03-0411-03-2511-04-01R 0.0400
ASTRAPAKP11-03-0411-03-2511-04-04R 3.4269
SPURCORP11-03-0311-03-1711-03-28R 0.3300
STANBANK-P11-03-0311-03-2511-04-04R 3.3790
STANBANK6.511-03-0311-03-2511-04-04R 0.0325
Ex Div**
Share NameDec-DateLDTPay-DateAmount
ABSABANK-P11-02-1511-03-0411-03-14R 28.8760
ANGLOPLAT11-02-0711-03-0411-03-14R 6.8300
HUDACO11-01-2811-03-0411-03-14R 2.3500
ABSA11-02-1511-03-0411-03-14R 2.3000
ASSORE11-02-1611-03-0411-03-14R 2.0000

Upcoming AGMs**
CodeCompany NameDateStatus
QPGQuantum Property Group Ltd08/03/2011Confirmed
WEZWesizwe Platinum Ltd09/03/2011Confirmed
FWDFreeworld Coatings Ltd10/03/2011Confirmed

Stock Exchange News Service
08/03/201117:49STXNIG - Nedbank Limited - Proposed distribution announcement in relation to The
08/03/201117:47STXNND - Nedbank Limited - Proposed distribution announcement in relation to the
08/03/201117:42EXXNIE - Nedbank Limited - Dividend distribution announcement in relation to The
08/03/201117:39SOL - Sasol - Sasol hedges about 30% (oil equivalent) of its South African
08/03/201117:36 Quantum Property Group Limited - Results of Annual General Meeting
08/03/201117:28IPLIDF - Investec Warrants - Declared dividend announcement on Imperial Holdings
08/03/201116:34 Labat - Renewal of Cautionary
08/03/201115:55 Esorfranki Limited - Elaboration pertaining to the results of the Rights
08/03/201115:17 Argent Industrial Limited - Dealing in securities by an associate of a
08/03/201115:15 Old Mutual Plc - Total voting rights and shares in issue
08/03/201114:38 Exxaro - Trading of Exxaro ordinary shares on behalf of the Exxaro
08/03/201114:32 Trading of Exxaro ordinary shares on behalf of the Exxaro Resources
08/03/201114:30 Acceptance of conditional awards released in terms of the deferred Bonus
08/03/201114:03 Uranium One Inc - News Release Uranium One Announces 115% Increase in
08/03/201114:00 Uranium One Inc - Annual Consolidated Financial Statements for the
08/03/201113:43FSRIHG - Investec Warrants - Declared interim dividend announcement on Firstrand
08/03/201113:37ABL/ABLP - African Bank Investments Limited - African Bank issues R1 Billion of
08/03/201113:16MND/MNP - Mondi Limited/Mondi plc - Employee share plans transactions in Mondi
08/03/201113:05 ELB Group Limited - Report on proceedings at General Meeting
08/03/201113:03 African Dawn Capital Limited - Changes to the board of directors
08/03/201112:24SOL/SOLBE1 - Sasol Limited - Sasol announces a CAD$1 050 Million (ZAR7 413
08/03/201112:00 Dialogue Group Holdings Limited - Specific Payment - Finalisation
08/03/201111:55RMHIDD - Investec Bank Limited - Adjustment to the terms and conditions of
08/03/201111:53 Howden Africa Holdings Limited - Departure of the Group Financial Director
08/03/201111:52SCIB/SOLSTF - The Standard Bank Of South Africa Limited - Dividend announcement
08/03/201111:36 Paracon Holdings Limited - Results of Annual General Meeting
08/03/201111:34SCIB/AGLSTE - The Standard Bank Of South Africa Limited - Dividend Announcement
08/03/201111:32SCIB: NEDSTE - The Standard Bank of South Africa Limited - Dividend announcement
08/03/201111:29SCIB/EXXSTE - The Standard Bank Of South Africa Limited - Dividend Announcement
08/03/201111:26 Esorfranki Limited - Results of The Rights Offer
08/03/201111:25SOL / SOLBE1 - Sasol Limited - Progress on chief executive succession
08/03/201110:54 Finbond Group Limited - Resignation of a non-executive director
08/03/201110:19 SacOil Holdings Limited - Announcement regarding secondary listing on the
08/03/201110:16 Assore Limited - Change to board of directors
08/03/201110:15GLD - NewGold Issuer Limited - Partial de-listing of NewGold Debentures
08/03/201110:00CLR - Clover Industries Limited - Report on proceedings at the combined
08/03/201109:35 MICROmega Holdings Limited - Further cautionary announcement
08/03/201109:27 Nedbank Group - Dealings in Securities by Executive Directors and Company
08/03/201109:26 AVI Limited - Resignation of Executive Director
08/03/201109:20 Lonrho PLC - Notice Of Annual General Meeting
08/03/201109:11 Old Mutual PLC - Final Dividend for the year ended 31 December 2010
08/03/201109:10 Old Mutual Plc - Preliminary results for the year ended 31 December 2010
08/03/201109:09 Old Mutual Plc - Preliminary results for the year ended 31 December 2010
08/03/201109:08 Old Mutual PLC - Preliminary results for the year ended 31 December 2010
08/03/201108:30GEN - Rand Merchant Insurance Holdings Ltd (South Africa): Changes in Indices
08/03/201107:56 Royal Bafokeng Platinum Limited - Audited results for the year ended 31
08/03/201107:25 Firestone Energy Limited - Appendix 3X
08/03/201107:19 BHP Billiton Plc - Transaction in shares
08/03/201107:10 British American Tobacco p.l.c - Transaction in own shares
08/03/201107:05 Ceramic Industries - Unaudited interim results for the six months ended 31

Click here for more SENS news