Daily Equity Report Sharenet Logo

Welcome to the Sharenet Daily Equity Report
 Issue: 09 March 2011 20:00

S.Africa's rand rangebound, bonds edge up, stocks dip

By Stella Mapenzauswa and Gugulakhe Lourie

JOHANNESBURG (Reuters) - South Africa's rand was largely steady against the dollar on Wednesday, finding support mainly from higher commodity prices, while government bonds firmed on demand from corporates hedging their own debt.

Blue-chip stocks fell for a fourth straight day as foreigners exited the market amid a general global lack of appetite for emerging markets.

The yield on South Africa's benchmark 2015 government bond dropped 8.5 basis points to 7.765 percent, while the yield on the longer-dated 2026 issue fell 4.5 basis points to 8.98 percent.

"I suspect there's corporate hedging going on," said a bond dealer in Johannesburg.

"There are corporates issuing in the shorter part of the curve... (and) they would want to hedge their exposure by buying the corresponding government bond."

Latest data from the JSE securities exchange shows foreigners have sold a net 7.92 billion rand of South African bonds so far this year compared to net purchases of 9.8 billion rand during the same period last year.

But analysts say relatively higher yields -- the key repo rate is at 5.5 percent -- continue to support local paper.

"South African debt continues to remain attractive to foreign investors. Comparable low debt metrics, coupled with the high yields, still make South Africa an investment prospect worth considering," Tradition Analytics said in a note.

The rand was at 6.8649 against the dollar at 1620 GMT, up 0.19 percent from Tuesday's close at 6.88.

"There has been a lack of domestic factors and all in all it's been pretty quiet on South African markets," said Christopher Shiells, EM analyst at Informa Global Markets.

He said the currency was rangebound between 6.8500-6.9300, with some accounts selling dollar/rand but with importer demand providing support. "This range has continued with a lack of euro/dollar drivers ensuring it stays there," Shiells added.

The rand has reversed the bulk of its 10 percent drop against the dollar in the first two months of 2011, and is now down just 3.6 percent on the year.

But it has struggled to breach 6.85 this week and a test of the upper limit of its current 6.8500-9500 rnage could open up a retreat to the late February low of 7.04.

On Wednesday the JSE Top-40 index of blue chips dipped 0.08 percent to close at 28,677.65 while the broader All-share index shed 0.02 percent to 31,820.37.

"There might be foreign selling in our bourse. There is negativity towards emerging markets," said Wimar Buys, a trader at FFO Securities.

Petrochemical group Sasol lost 3.02 percent to 372 rand as oil prices arrested their recent losing streak.

Platinum producer Lonmin dropped 1.32 percent to 199.82 rand, diversified miner Exxaro lost 0.65 percent to 153 rand, and bourse heavyweight miner Anglo American was down 0.59 percent to 359.05 rand.

MTN, Africa's largest mobile phone operator, climbed 4.88 percent to 131.89 rand, making it the biggest percentage gainer in the blue-chip index. MTN posted a 20 percent rise in full-year profit and sharply increased its dividend payout.

Wed, 09 Mar 2011

South Africa's MTN Group  Full story
Revenue rose by 22% to R297.3 million (R242.8million). Net attributable profit increased by 32% to R37.1 million (R28.1million). In addition, headline earnings per share was up by 22% to 46.2cps (37.7cps). Dividend An interiml dividend of 15.6cps has been declared for the periond under  Full story
Zimbabwe's state-owned mobile operator NetOne is in talks with South Africa's MTN and other African mobile firms about selling a 49 percent stake, the company's managing director said on Wednesday.  Full story
Maize deliveries to South African silos rose to 11.825 million tonnes in the week to March. 4, up from a revised 11.81 million tonnes the previous week, data showed on Wednesday.  Full story

Net income amounted to R24.4 billion for MMI's maiden interim results as a merged entity. Net attributable profit was R1.1 billion. . .  Full story
South Africa's rand weakened slightly against the dollar on Wednesday, although dealers said it was likely to stick in its current. . .  Full story
Revenue for the interim period ended 31 December 2010 dropped to R1.2 billion (December 2009: R1.4 billion) and an operating loss. . .  Full story
Absa Group, the South African bank majority owned by Barclays, will likely need another $43 million this year to boost liquidity. . .  Full story

Trading Statistics


Major Moves Up
SharenameSaleMove% MoveVolume
1 CMH  13151159.58.%7465
2 AMECOR  172127.50.%14941
3 JUBILEE  335237.37.%1082818
4 TRNSHEX  285197.14.%23182
5 BRAIT  18751206.84.%5289542
6 SACOIL  235146.33.%1983242
7 AFRO-C  175106.06.%27000
8 ANOORAQ  859496.05.%33316
9 STEFSTOCK  1090605.83.%37307
10 MTN  131896144.88.%17419854
11 ESORFRANK  17584.79.%791436
12 JASCO  11454.59.%214356
13 PBT  13054.00.%22123
14 MMI-HLDGS  1675553.40.%8506497
15 GOLDONE  26383.14.%1676193
16 DORBYL  29893.11.%700
17 DATATEC  34001003.03.%118553
18 WESCOAL  10333.00.%36809
19 MEDCLIN  2953832.89.%108213
20 ELLIES   21962.82.%56000

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 WILDRNESS  412-58-12.34.%2219
2 KAP  220-15-6.38.%44800
3 CADIZ  326-22-6.32.%44371
4 ARB  310-13-4.02.%93261
5 UNIVERSAL  140-5-3.45.%3184
6 PALCAP  260-9-3.35.%21200
7 DIGICOR  295-10-3.28.%98705
8 SASOL  37200-1160-3.02.%6742372
9 COAL  970-30-3.00.%75761
10 ADCORP  2600-80-2.99.%41831
11 KGMEDIA  1670-50-2.91.%1258
12 DELTA  775-20-2.52.%83050
13 VILLAGE  205-5-2.38.%24290
14 BIDVEST  15000-308-2.01.%1550501
15 HCI  7853-147-1.84.%100837
16 GRANPRADE  275-5-1.79.%48158
17 CIPLAMED  701-12-1.68.%2503648
18 PSG  4112-69-1.65.%29803
19 TONGAAT  9699-161-1.63.%281235
20 STEINHOFF  2481-39-1.55.%5823976

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 CAPCO  17971849150.84.%894391
2 RAINBOW  1802180220.11.%44060

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 DELTA  775775-20-2.52.%83050
2 RMIH  120011910.9496180
3 JASCO  11410754.59.%214356

Click here for more Major Moves...

Spot Prices
NameTimeRPMove% Move
JSE Overall17:0031820.37-7.05-0.02%
JSE Top 4017:0028677.65-23.75-0.08%
JSE Gold17:002708.2025.790.96%
JSE Financial17:0021108.507.360.03%
JSE Industrial17:0031672.43227.290.72%
JSE Indust 2517:0026553.08211.750.80%
JSE Resource17:0056858.09-451.42-0.79%
DJ Futures20:0012215.0016.000.13%
DJ Ind18:2712186.53-27.85-0.23%
SP 50019:421319.32-2.50-0.19%
FTSE 10018:355937.30-37.46-0.63%
All Ords07:354863.20-39.30-0.80%
NZSE 5006:363414.42-6.75-0.20%
NameTimeRPMove% Move
Gold/R kg20:003155444080.13%
Brent Crude19:56114.921.901.68%
Rand / Dollar19:596.86830.00270.04%
Rand / Pound19:5511.09270.01100.10%
Rand / Euro19:559.5403-0.0211-0.22%
Rand / NZD19:585.0745-0.0062-0.12%
Rand / AUD19:556.94050.00020.00%
Yen / Dollar19:5982.80000.13000.16%
Euro / Dollar19:550.71950.00050.07%
Dollar / Euro19:571.3899-0.0011-0.08%
Pound / Dollar19:550.6171-0.0014-0.23%

Click here for the Sharenet Spot Price page
Index Summary
Index NameRPMove% Move
Top 4028,677.65-23.75-0.08%
Mid Cap40,674.72130.610.32%
Small Cap31,585.48105.600.34%
Resource 2056,858.09-451.42-0.79%
Industrial 2526,553.08211.750.80%
Financial 158,004.69-3.33-0.04%
Financial & Ind. 3029,768.02161.960.55%
All Share31,820.37-7.05-0.02%
Oil & Gas 28,223.79-872.14-3.00%
Mining 37,224.39-164.33-0.44%
Gold Mining2,708.2025.790.96%
Platinum Mining75.97.320.42%
Oil & Gas Producers 15,175.41-468.94-3.00%
Basic Materials 31,406.75-120.39-0.38%
Chemicals 13,309.98-14.92-0.11%
Forestry & Paper 14,081.6336.010.26%
Industrial Metals 30,581.1791.580.30%
Industrials 27,370.03-100.28-0.37%
General Industrials 75,344.79-402.78-0.53%
Consumer Goods 25,903.60-7.92-0.03%
Automobiles & Parts 3,
Household Goods157.67-2-1.55%
Health Care 31,087.28389.391.27%
Beverages 79,483.84153.780.19%
Food Producers 46,656.91115.190.25%
Index NameRPMove% Move
Personal Goods 403.60-.60-0.15%
Consumer Services 53,026.2021.880.04%
General Retailers 38,938.9460.810.16%
Travel & Leisure 3,736.062.220.06%
Media 88,146.65-112.20-0.13%
Support Services 2,393.71-20.70-0.86%
Telecommunications 64,077.972657.464.33%
Financials 21,108.507.360.03%
Banks 38,804.443.350.01%
Non-life Insurance 31,523.82.000.00%
Life Insurance 16,328.8877.740.48%
General Financial 2,245.68-10.50-0.47%
Technology 20,269.32388.631.95%
SHARIAH TOP40 3,239.74-3-0.09%
FTSE/JSE SHARIAH ALL3,290.09-2-0.06%
COAL MINING21,406.34-146-0.68%
FTSE JSE Fledgling 4,599.24-22-0.48%
FTSE/JSE Alt X 1,049.75-14-1.30%
CAPPED PROPERTY 300.56-0.12%
RESOURCE 31,285.93-248-0.78%
DIVIDEND PLUS164.2000.22%
FTSE/JSE RAFI 406,689.40-8-0.13%
Capped Top 4014,918.7040.02%
Capped All Share16,006.3950.03%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
10 Mar 2011DAWNDecember 2010 (Interim)
10 Mar 2011DAWNPPDecember 2010 (Interim)
10 Mar 2011MVELASVDecember 2010 (Interim)
10 Mar 2011SANLAMDecember 2010 (Final)
10 Mar 2011SANLAM-ADecember 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
WEZWesizwe Platinum Ltd09/03/2011Confirmed
FWDFreeworld Coatings Ltd10/03/2011Confirmed

Stock Exchange News Service
09/03/201117:32 Old Mutual plc - Notification of Transactions of Directors, Persons
09/03/201117:31 OLD Mutual Plc - Notification of transactions of directors, persons
09/03/201117:30 Old Mutual plc - Notification of Transactions of Directors, Persons
09/03/201117:12 Resilient Property Income Fund Limited - Acceptance of linked units in
09/03/201117:06 Bowler Metcalf Limited - Condensed unaudited results for the six months
09/03/201117:05 Bowler Metcalf Limited - Changes to the board of directors
09/03/201117:03 Business Connexion Group Limited - Posting of circular and notice of
09/03/201117:01 Argent Industrial Limited - Dealing in securities by director
09/03/201116:52 Tradehold Limited - Capital Raising of R650 Million by way of a fully
09/03/201116:50 Mobile Industries Limited - Proposed delisting and members` voluntary
09/03/201116:47 Miranda Mineral Holdings Limited - Claw Back Offer and Rights Offer
09/03/201116:20SCIB/USDSCC - Standard Bank Of South Africa Limited - Notice of expiry of
09/03/201116:15FSRSTE - The Standard Bank Of South Africa Limited - Dividend announcement
09/03/201116:08 Sun International Limited - Analyst presentation
09/03/201116:00 Sephaku Holdings - Trading Statement for the Six Months Ended 31 December
09/03/201116:00INL/INP - Investec Limited/Investec Plc - Transactions in Investec Limited
09/03/201115:53 Poynting Holdings Limited - Trading Statement
09/03/201115:52 UCS Group Limited - Posting of circular, notice of General Meeting and
09/03/201115:50MND/MNP - Mondi - Transaction in Shares
09/03/201114:55 Woolworths Holdings Limited - Dealing in securities by a director
09/03/201114:36 m Cubed Holdings Limited - Appointment of part-time financial director
09/03/201114:22 Morvest Business Group Limited - Disposal and Further Cautionary
09/03/201114:12BIPINF - Bips Government Inflation Linked Bond Fund - Listing of Additional Bips
09/03/201114:00CCO - Capital & Counties Properties PLC - Acquisition of shares by Andrew
09/03/201113:52AGLNIH - Nedbank Limited - Dividend distribution announcement in relation to The
09/03/201113:51RMHIDD - Investec Warrants - Declared interim dividend announcement on RMB
09/03/201113:46 Growthpoint Properties - Dealing in securities by director
09/03/201113:43AGLNNE - Nedbank Limited - Dividend distribution announcement in relation to The
09/03/201113:39 Bauba Platinum Limited - Appointment of Sponsor
09/03/201113:39 Colliers South Africa Holdings - Renewal of Cautionary Announcement
09/03/201113:16 SacOil Holdings Limited - Further announcement in relation to proposed
09/03/201113:13 Platfields Limited - Change to the board of directors
09/03/201112:30 Jubilee Platinum Plc - Operations Update
09/03/201112:30 The Foschini Group Ltd - Directors Dealing in Securities
09/03/201112:16 Wesizwe Platinum - Results of the Annual General Meeting and General
09/03/201111:31 Kumba Iron Ore Limited - Exercise of options and subsequent sale of shares
09/03/201111:19RMHIDD - Investec Bank Limited - Adjustment to the terms and conditions of
09/03/201111:14MTNIDJ - Investec Warrants - Declared final dividend announcement on MTN Group
09/03/201111:13MTNIHG - Investec Warrants - Declared final dividend announcement on MTN Group
09/03/201111:07 Tawana Resources NL - Expiry of listed options and notice of initial
09/03/201111:06 Tawana Resources NL - Change of Director`s Interest Notice
09/03/201111:05 Tawana Resources NL - Secondary Trading Notice Pursuant To Section
09/03/201111:01GEN - General - Amendments to Listings Requirements
09/03/201110:53 Rand Merchant Insurance Holdings Limited - Cash Dividend Declaration
09/03/201110:52 RMB Holdings Limited - Summarised, unaudited results announcement and
09/03/201110:33 Zaptronix Limited - Passing away of director
09/03/201110:30 Anglo American plc - Anglo American appoints Phuthuma Nhleko to the Board
09/03/201110:23 Altech Announces 25% Black Economic Empowerment Deal
09/03/201110:03 Gold One International Limited - Appendix 3Y change of director`s interest
09/03/201109:40 Gold One International Limited - Appendix 3B new issue announcement,
09/03/201108:30 MTN Group - Final audited results for the year ended 31 December 2010
09/03/201107:30 British American Tobacco P.L.C - Transaction in own shares
09/03/201107:23 Anglo American plc - Anglo American Share Incentive Plan
09/03/201107:17 Anglo American plc - Treasury Shares - Transfers
09/03/201107:10 BHP Billiton Plc - Transaction in shares
09/03/201107:09 MMI Holdings Limited - MMI poised to realise growth potential
09/03/201107:08 MMI Holdings Limited - Detailed MMI unaudited pro forma financial
09/03/201107:07EXT - Extract Resources - Possible cash offer for Kalahari Minerals Plc
09/03/201107:05 MMI Holdings Limited - Unaudited group results for the six months
09/03/201107:05 Gijima Group Limited - Reviewed interim results for the six months ended

Click here for more SENS news