Thursday, 10 March 2011 - 20:00
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Charts
S.Africa stocks at 3-month lows, rand holds up better
By Tiisetso Motsoeneng and Stella Mapenzauswa
JOHANNESBURG (Reuters) - South Africa's shares tumbled to their lowest mark in more than three months on Thursday, with miners among the worst performers as global economic growth worries hit metal prices.
Government bonds fell slightly, and the rand also retreated against the dollar, although the currency held up relatively well considering the slide on the bourse, which could however weigh heavier if sustained in coming days.
Johannesburg's Top-40 blue-chip index fell 3.19 percent to 27,762.48 points, a trough last seen on December 3, 2010 and the biggest daily decline since May, 2010. All 40 stocks ended in the red.
The broader All-share index dropped 2.9 percent to 30,898.
"The downgrade of Spain really put pressure on us and commodity prices also fell as a result of that," said Byron Latter, an analyst at fund manager Vestact. "All this negative news has given investors an excuse to get out of risky assets such as stocks."
A rating agency downgrade of Spain reignited euro zone debt concerns and disappointing economic data from China and the United States heightened global growth worries.
In Johannesburg, African Rainbow Minerals slid 5.69 percent to 211.63 rand, Anglo Platinum lost 4.41 percent to 650.01 rand and Anglo American was 3.91 percent weaker at 343.96 rand.
Sanlam was off 3.16 percent at 26.63 rand, even after posting a 16 percent rise full-year profit.
At 1545 GMT the rand traded 0.58 percent softer at 6.9040 against the dollar after closing at 6.8640 on Wednesday.
"The rand had a relatively good day considering how strong the dollar is globally. Europe had the downgrade of Spain to contend with and sterling also lost significant ground but the rand seems pretty stable. That's why we improved significantly against the crosses," said Bidvest Bank chief dealer Ion de Vleeschauwer.
But he noted that 6.85/dollar remains an overhead resistance point for the rand, which briefly touched a session high of 6.8575/dollar on Thursday before quickly retreating on importer demand.
"The 6.85 level seems to be the line in the sand. We've struggled to get through that a few times, there seems to be lots of import orders staggered close to there so it's going to be tough for the rand to break," de Vleeschauwer said.
Part of the rand's fall came after release of data showing the manufacturing sector is still struggling to gain momentum after a contraction in 2009, meaning the central bank could hold off increasing interest rates this year despite rising inflationary pressures.
The yield on South Africa's benchmark 2015 government bond edged up 1.5 basis points to 7.88 percent, while that for the on the longer-dated 2026 issue added two basis points to 9.00 percent.
Thu, 10 Mar 2011
Top News
South Africa's shares tumbled to their lowest mark in more than three months on Thursday, with miners among the worst performers as global economic growth worries hit metal prices. Full story
Gross property revenue rose marginally to R17.6 million (R17.3 million) and operating profit before capital items improved by 15% to R15.9 million (R13.8 million). Net profit attributable to equity holders of the company increased slightly to R13.9 million (R13.4 million), while headline ear Full story |
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Libyan tanks fired on rebel positions in the oil port of Ras Lanuf and warplanes hit another oil hub further east on Thursday as Muammar Gaddafi carried counter-attacks deeper into the insurgent heartland. Full storyThe Dalai Lama said on Thursday he would step down as Tibet's political leader, a move seen as transforming the government-in-exile into a more assertive and democratic body in the face of Chinese pressure. Full storyYemen President Ali Abdullah Saleh, hoping to defuse increasingly violent protests against his 32-year rule, said on Thursday he would draw up a new constitution to create a parliamentary system of government. Full story |
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Markets | World stocks and commodities
sank on Thursday after an unexpected Chinese trade deficit
fueled concerns about the global economy, while the euro fell
after. . . Full story | | A downgrade for Spain's credit
rating, violence in Libya and weak data from China and the U.S
heaped pressure on Britain's top share. . . Full story | | U.S. stocks dropped more
than 1 percent on Thursday and the S&P 500 fell through a key
technical level amid global economic worries,. . . Full story | | Gold lost 1.5 percent
on Thursday, set to post its biggest one-day loss in about six
weeks, as investors sold bullion to cover. . . Full story |
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| European shares were lower
on Thursday as renewed worries about peripheral euro zone
economies overshadowed strong company earnings and weak Chinese
data hit miners.. . . Full story | | Gold tracked oil higher on Thursday as
investors waited to see if the international community would agree to a "no-fly"
zone for Libya,. . . Full story | | Japan's Nikkei average fell to a
five-week low on Thursday, breaking below a key support level
after an overnight rise in oil prices. . . Full story | | China's main stock index
closed down 1.5 percent on Thursday as worries of liquidity
tightening hit financial stocks.. . . Full story |
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SA Business | Growth in South Africa's manufacturing output quickened to 1.3 percent year-on-year in volume terms in January compared with a 0.2 percent expansion in December, Statistics South Africa said on Thursday.. . . Full story | | South Africa's gold output rose 15.1 percent in volume terms in January while total mineral production rose 4.3 percent compared with the same month a year earlier, data showed on Thursday.. . . Full story | | South Africa's rand was weaker in early Thursday trade, hovering around key technical levels, and bonds slipped ahead of manufacturing data that should give pointers to first quarter economic growth.. . . Full story |
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| Investors banking on an
across-the-board rise in commodity prices this year are setting
themselves up for a fall and they should instead be. . . Full story | | The Johannesburg Stock
Exchange has warned companies to tighten procedures around
announcing results after Reuters reported FirstRand results a
day early when they appeared. . . Full story | | The Johannesburg Stock Exchange has warned companies to tighten procedures around announcing results after Reuters reported FirstRand results a day early. . . Full story | | Etisalat Nigeria said on Thursday it had sealed agreements for a $650 million syndicated loan with eight local banks to expands. . . Full story |
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| South Africa's Richards Bay Minerals (RBM), a Rio Tinto-BHP Billiton joint venture, plans to build a large plant with operations expected. . . Full story | | South Africa's Coronation Fund Managers is ready to chase after bargains with a "meaningful amount" in north Africa after an uprising. . . Full story | | Soaring commodity prices
are boosting African economies and state budgets, but strong
growth on the poorest continent is much more deep-seated than
just bumper. . . Full story | | |
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Company News | Steinhoff International Holdings Ltd ("SIHL") this morning announced the launch of its offering of senior unsecured guaranteed convertible bonds due March. . . Full story | | Cadiz advised shareholders that with effect from 9 March 2011 Ray Cadiz has, for personal reasons, resigned as chairman and will. . . Full story | | The board of directors of RACEC have resolved to declare a final dividend of 2.5 cents per share for the year. . . Full story | | Notification was given of the following changes to Putprop's board of directors:
*Mr Albino Carleo, after 23 years of service, has. . . Full story |
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| Shareholders are advised that Dr Vincent Maphai has resigned as an independent non-executive director of Tongaat Hulett with effect from 8. . . Full story | | ELB is currently finalising its results for the six months ended 31 December 2010, which should be released on SENS on. . . Full story | | According to Business Report, Shoprite's acquisition of Metcash Trading Africa's franchise stores will help expand the group's footprint The Metcash franchise. . . Full story | | Further to the announcement released on SENS, the net asset value and net tangible asset value should for December 2010 should. . . Full story |
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Company Results | 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 | | Revenue for the year ended 31 December increased to R114.7 billion (2009: R111.9 billion), and profit before income tax rose to. . . 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 | | Income for the interim period ended 31 December 2010 increased to R1.490 billion (2009: R1.193 billion), while operating profit rose by. . . Full story |
World Markets
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 30898.94 | -921.43 | -2.90% | JSE Top 40 | 17:00 | 27762.48 | -915.17 | -3.19% | JSE Gold | 17:00 | 2614.49 | -93.71 | -3.46% | JSE Financial | 17:00 | 20724.42 | -384.08 | -1.82% | JSE Industrial | 17:00 | 30855.09 | -817.34 | -2.58% | JSE Indust 25 | 17:00 | 25803.49 | -749.59 | -2.82% | JSE Resource | 17:00 | 54752.46 | -2105.63 | -3.70% | DJ Futures | 19:46 | 11975.00 | -199.00 | -1.63% | DJ Ind | 19:41 | 12035.77 | -177.32 | -1.45% | SP 500 | 19:10 | 1303.15 | -16.11 | -1.22% | Nasdaq | 19:10 | 2711.81 | -39.91 | -1.45% | FTSE 100 | 18:35 | 5845.29 | -92.01 | -1.55% | DAX | 19:00 | 7063.09 | -68.71 | -0.96% | CAC40 | 18:46 | 3963.99 | -29.82 | -0.75% | Nikkei | 08:26 | 10434.38 | -155.12 | -1.46% | Shanghai | 09:32 | 2958.16 | -45.01 | -1.50% | Hang-Seng | 10:22 | 23614.89 | -195.22 | -0.82% | All Ords | 07:43 | 4791.30 | -71.90 | -1.48% | NZSE 50 | 06:32 | 3406.24 | -8.19 | -0.24% |
| | Name | Time | RP | Move | % Move | Gold | 19:58 | 1407.80 | -23.30 | -1.63% | Gold/Rand | 19:56 | 9721.83 | -93.04 | -0.95% | Gold/R kg | 19:56 | 312503 | -3075 | -0.97% | Silver | 19:58 | 34.9030 | -1.2320 | -3.41% | Platinum | 19:58 | 1756.25 | -41.00 | -2.28% | Palladium | 19:58 | 762.00 | -17.00 | -2.18% | R157 | 10:06 | 7.87 | .01 | 0.13% | R204 | 16:06 | 8.72 | .02 | 0.23% | Brent Crude | 19:56 | 113.89 | -1.04 | -0.90% | Rand / Dollar | 19:58 | 6.8823 | 0.0237 | 0.35% | Rand / Pound | 19:55 | 11.0532 | -0.0326 | -0.29% | Rand / Euro | 19:55 | 9.5370 | -0.0045 | -0.05% | Rand / NZD | 19:56 | 5.0817 | 0.0293 | 0.58% | Rand / AUD | 19:55 | 6.9215 | -0.0170 | -0.25% | Yen / Dollar | 19:51 | 82.9600 | 0.1800 | 0.22% | Euro / Dollar | 19:55 | 0.7237 | 0.0048 | 0.67% | Dollar / Euro | 19:58 | 1.3819 | -0.0088 | -0.63% | Pound / Dollar | 19:55 | 0.6226 | 0.0057 | 0.92% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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10/03/2011 | 85 | 286 | 77 | 448 | 374,677,510 | R17,770,353,202 | 132557 | 2279036 | 09/03/2011 | 184 | 153 | 93 | 430 | 317,627,723 | R14,888,725,438 | 106266 | 1859686 | 08/03/2011 | 97 | 245 | 63 | 405 | 330,436,196 | R14,428,896,709 | 127175 | 2363397 | 07/03/2011 | 138 | 203 | 66 | 407 | 263,034,585 | R12,802,211,200 | 101816 | 1940149 | 04/03/2011 | 212 | 145 | 68 | 425 | 369,423,987 | R12,659,542,352 | 108879 | 2103087 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 27,762.48 | -915.17 | -3.19% | Industrial | 30,855.09 | -817.34 | -2.58% | Mid Cap | 40,152.56 | -522.16 | -1.28% | Small Cap | 31,335.48 | -250.00 | -0.79% | Resource 20 | 54,752.46 | -2105.63 | -3.70% | Industrial 25 | 25,803.49 | -749.59 | -2.82% | Financial 15 | 7,839.18 | -165.51 | -2.07% | Financial & Ind. 30 | 28,958.92 | -809.10 | -2.72% | All Share | 30,898.94 | -921.43 | -2.90% | Oil & Gas | 27,084.02 | -1139.77 | -4.04% | Mining | 35,864.72 | -1359.67 | -3.65% | Gold Mining | 2,614.49 | -93.71 | -3.46% | Platinum Mining | 73.04 | -2.93 | -3.86% | Oil & Gas Producers | 14,562.58 | -612.83 | -4.04% | Basic Materials | 30,284.54 | -1122.21 | -3.57% | Chemicals | 13,198.18 | -111.80 | -0.84% | Forestry & Paper | 13,711.04 | -370.59 | -2.63% | Industrial Metals | 29,593.55 | -987.62 | -3.23% | Industrials | 26,626.01 | -744.02 | -2.72% | General Industrials | 72,674.24 | -2670.55 | -3.54% | Consumer Goods | 25,244.20 | -659.40 | -2.55% | Automobiles & Parts | 3,011.73 | .00 | 0.00% | Household Goods | 153.22 | -4 | -2.82% | Health Care | 30,805.65 | -281.63 | -0.91% | Beverages | 77,307.09 | -2176.75 | -2.74% | Food Producers | 46,165.64 | -491.27 | -1.05% |
| | Index Name | RP | Move | % Move | Personal Goods | 392.51 | -11.09 | -2.75% | Consumer Services | 51,722.36 | -1303.84 | -2.46% | General Retailers | 38,121.40 | -817.54 | -2.10% | Travel & Leisure | 3,689.02 | -47.04 | -1.26% | Media | 85,195.06 | -2951.59 | -3.35% | Support Services | 2,377.36 | -16.35 | -0.68% | Telecommunications | 62,026.25 | -2051.72 | -3.20% | Financials | 20,724.42 | -384.08 | -1.82% | Banks | 38,143.37 | -661.07 | -1.70% | Non-life Insurance | 31,160.08 | -363.74 | -1.15% | Life Insurance | 15,885.38 | -443.50 | -2.72% | General Financial | 2,199.87 | -45.81 | -2.04% | Technology | 20,280.25 | 10.93 | 0.05% | SHARIAH TOP40 | 3,123.27 | -116 | -3.60% | FTSE/JSE SHARIAH ALL | 3,178.38 | -112 | -3.40% | COAL MINING | 20,980.73 | -426 | -1.99% | FTSE JSE Fledgling | 4,571.72 | -28 | -0.60% | FTSE/JSE Alt X | 1,082.65 | 33 | 3.13% | SA LISTED PROPERTY | 357.05 | | -0.21% | CAPPED PROPERTY | 298.46 | | -0.70% | RESOURCE | 30,127.24 | -1159 | -3.70% | DIVIDEND PLUS | 161.52 | -3 | -1.63% | FTSE/JSE RAFI 40 | 6,485.64 | -204 | -3.05% | Capped Top 40 | 14,449.80 | -469 | -3.14% | Capped All Share | 15,547.86 | -459 | -2.86% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | NED | NEDBANK GROUP LTD | HOLD | 08 Mar | PAP | PANGBOURNE PROPERTIES LIM... | HOLD | 08 Mar | SBK | STANDARD BANK GROUP LIMIT... | SELL | 08 Mar | AIP | ADCOCK INGRAM HLGS LD | HOLD | 08 Mar | LHC | LIFE HEALTHCARE GRP HLDG ... | BUY | 08 Mar |
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Results Expected** Expected | Company Name | Fin. Date | 11 Mar 2011 | MMI HLDGS | December 2010 (Final) | 14 Mar 2011 | AVENG | December 2010 (Interim) | 14 Mar 2011 | BELL | December 2010 (Final) | 14 Mar 2011 | CLOVER | December 2010 (Interim) | 14 Mar 2011 | CLOVERPREF | December 2010 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | AMAPS | 11-03-04 | 11-03-25 | 11-04-01 | R 0.0400 | ASTRAPAKP | 11-03-04 | 11-03-25 | 11-04-04 | R 3.4269 | SPURCORP | 11-03-03 | 11-03-17 | 11-03-28 | R 0.3300 | STANBANK-P | 11-03-03 | 11-03-25 | 11-04-04 | R 3.3790 | STANBANK6.5 | 11-03-03 | 11-03-25 | 11-04-04 | R 0.0325 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | ABSABANK-P | 11-02-15 | 11-03-04 | 11-03-14 | R 28.8760 | ANGLOPLAT | 11-02-07 | 11-03-04 | 11-03-14 | R 6.8300 | HUDACO | 11-01-28 | 11-03-04 | 11-03-14 | R 2.3500 | ABSA | 11-02-15 | 11-03-04 | 11-03-14 | R 2.3000 | ASSORE | 11-02-16 | 11-03-04 | 11-03-14 | R 2.0000 |
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Upcoming AGMs** Code | Company Name | Date | Status | FWD | Freeworld Coatings Ltd | 10/03/2011 | Confirmed |
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