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Wednesday, 16 March 2011 - 20:00
Sharenet is pleased to announce the launch of our new publication, The Sharenet Daily. We have built on the success of our Daily Equity Report, while adding more content and helpful information. The result is a publication that gives readers a quick, easy to read and informative synopsis of market activity, company results and news on the JSE for the day, as well as an overview of what transpired on important overseas markets.The Sharenet Daily includes helpful charts that give a graphical impression of events, and our news content is sourced from a number of contributors, including Reuters. In addition, Sharenet's popular price information is available in our Spot Price format which provides a snapshot of the JSE and world indices, currencies and commodities.
All the JSE trading statistics; major movers; latest dividends; upcoming AGM dates and more are provided to insure that you keep abreast of market developments. The Sharenet Daily is published at 8pm each day on the website and also distributed via email for your convenience. As always, we welcome your comments, feedback and suggestions at support@sharenet.co.za
Charts
S.Africa's rand off 2-1/2 wek low; stocks recover
By Phumza Macanda and David Dolan
JOHANNESBURG (Reuters) - South African assets recovered from sharp declines on Wednesday, after a rebound in Japanese stocks eased fears about a further sell-off related to the nuclear crisis in the world's third-largest economy.
The rand recovered from 2-1/2 week lows against the dollar, having been hit by concern that Japanese investors, substantial holders of rand-denominated debt, would cash in such instruments and repatriate funds to their stricken country.
The rebound in short-term sentiment sent Johannesburg stocks to their first rise in three days, but traders cautioned markets are likely to remain volatile, given the uncertain outlook.
"At the moment it looks a bit better but there are still a lot of risk factors," said Gabor Ambrus, emerging market analyst at 4CAST. "This is just a bit of retracement, I don't think it's game over."
The rand was trading at 6.98 against the dollar at 1550 GMT, 0.2 percent weaker than Tuesday's New York close of 6.9680.
It fell to 7.0450 earlier, its weakest since February 25. Those levels are likely to have attracted exporters and helped the currency recover, said Brigid Taylor, a dealer at Nedbank.
The currency registered its biggest daily fall in two years on Tuesday, as Japanese investors cashed in their rand-denominated bonds.
Japanese funds hold about $1.2 billion worth of South African bonds and the number could be higher when including uridashis, foreign currency bonds sold to retail investors.
The rand briefly traded weaker than its 100-day moving average at 7.01 on Wednesday, and a sustained breach of this level -- which is also a 38.2 percent Fibonacci retracement to the February low of 7.34 -- will open up 7.08 and higher.
TOKYO STORY
Johannesburg share prices were underpinned after Japan's benchmark Nikkei 225, rose nearly 6 percent following two days of sharp declines.
"Japan is definitely one of the biggest factors behind the recovery in short-term sentiment today," said Devin Schutte, a trader at Newstrading in Johannesburg.
The Top-40 index of South African blue chips rose 1.5 percent to 27,534.99. The broader All-share index gained 1.4 percent to 30,612.41.
Some technical factors had also indicated the Johannesburg market may have been due for a short-term recovery. The benchmark Top-40 index's 14-day relative strength index, or RSI, on Tuesday fell below the "oversold" mark of 30 for the first time since May.
The Top-40 breached the 30-mark only twice in 2010, Thomson Reuters data shows.
In addition, the index finished below its lower Bollinger band on Tuesday, another potential sign that it could be due for a rebound. Both the Bollinger band and the RSI are used by technical analysts as a measure of momentum.
African Rainbow Minerals, a miner with platinum, copper and coal assets, gained 4.2 percent to 200.00 rand.
The company was one of several commodities firms hit hard on worries the nuclear crisis would blunt demand from resource-hungry Japan.
Kumba Iron Ore, Africa's largest producer of the steel-making ingredient, rose 3.1 percent after a 3.3 percent fall in the previous session. Japan, the world's second-biggest steel producer, is one of Kumba's traditional markets.
Johannesburg-listed shares of Swiss luxury goods firm Richemont rose 1.4 percent after a 2.7 percent decline. Japan is a substantial market for the maker of Cartier jewellery and Montblanc pens.
Bonds weakened after attracting buyers in the previous two sessions. The yield on the 2015 bond was up three basis points to 7.845 percent and that on the 2015 note went up 1.5 basis points to 8.94 percent.
Wed, 16 Mar 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=http%253A%252F%252Fwww.sharenet.co.za%252Fimages%252Fprofile%252Fevraz_highveld.gif) Revenue increased from R4 252 million to R5 125 million in 2010. Gross profit decreased to R94 million (2009: R674 million) and operating loss was recorded at R823 million (2009: Profit of R192 million).Loss for the year amounted to R549 million (2009: Profit of R163 million). Headline loss Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-03-16T110035Z_01_AJOE72F0UL100_RTROPTP_3_OZABS-SAFRICA-RAND-20110316.JPG "A BANK TELLER LOOKS AT 50 AND 100 SOUTH AFRICAN RAND NOTES.") South Africa's rand reversed its earlier losses on Wednesday, bouncing from a 2-1/2 week low as its weaker levels attracted exporters. Full story |
 Japan's nuclear crisis appeared to be spinning out of control on Wednesday after workers withdrew briefly from a stricken power plant because of surging radiation levels and a helicopter failed to drop water on the most troubled reactor. Full story  Bahraini forces, backed by troops sent by neighbouring Saudi Arabia, drove protesters from the streets using tear gas, tanks and helicopters on Wednesday, prompting rare criticism from their U.S. allies. Full story  Muammar Gaddafi's forces bombarded Libya's third largest city with artillery fire and advanced on the rebel stronghold of Benghazi on Wednesday as diplomatic steps to prevent him quelling a revolt ran aground. Full story |
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Markets | Gold rebounded
Wednesday after the previous day's 2 percent drop, as investors
shifted the focus back on loose monetary policies and
geopolitical tensions and. . . Full story | European and U.S. shares
slid for a third day on Wednesday and Treasury debt prices
jumped as the nuclear crisis in Japan raised. . . Full story | U.S. stocks sank for a third
day on Wednesday as worries about Japan's nuclear crisis
escalated, and analysts saw more volatility ahead for. . . Full story | Heightened fears about the
nuclear crisis in Japan saw investors shun equities on
Wednesday, with falls by heavyweight commodity issues dragging
Britain's top share. . . Full story |
European shares retreated on
Wednesday, with banks leading the falls after Moody's downgraded
Portuguese debt overnight and as uncertainty persisted over
whether Japan can. . . Full story | Non-nuclear energy stocks
led gains as Hong Kong and Shanghai shares ended higher on
Wednesday, with panic selling subsiding and investors looking to
position. . . Full story | Gold regained strength on
Wednesday after falling to a 1-month low in the previous
session, but declines in ETF holdings to their lowest. . . Full story | Asian financial markets
rallied on Wednesday, with Tokyo stocks rebounding 5.7 percent
after a steep two-day sell-off on Japan's killer earthquake and
unfolding nuclear. . . Full story |
SA Business | Growth in South Africa's retail sales slowed to 6.4 percent year-on-year in January at constant prices, compared with an 8.3 percent increase in December, Statistics South Africa said on Wednesday.. . . Full story | South Africa's rand recouped some of the previous day's heavy losses against the dollar on Wednesday as some of the panic triggered by the radiation crisis in Japan subsided.. . . Full story |
Libya is estimated to have lost two thirds of its oil output while
fighting between government and rebel forces and international sanctions. . . Full story | FirstRand, South Africa's No.2
banking group, is in advanced talks with Nigeria's Sterling Bank
over making a strategic investment in the lender, banking
sources. . . Full story | Maize deliveries to South African silos rose to 11.843 million tonnes in the week to March 11, up from 11.825 million. . . Full story | Germany's BMW looks set to
replace rival Mercedes-Benz as the only luxury carmaker in
Brazil, if it decides to assemble cars there for. . . Full story |
High-yield bonds and U.S.
Treasuries top the list of vulnerable assets should the triple
disaster of earthquake, tsunami and nuclear breakdown prompt
Japanese investors to bring overseas funds back home.
Such moves -- which may already be under way, given some of
the currency movements of the past few days -- are also likely
to sour global merger and acquisition and outward direct
investment activity from Japan, one of the top 10 players.. . . Full story |
Company News | In compliance with paragraph 3.59 of the Listings Requirements of JSE Ltd, shareholders are hereby notified that Messrs Neels Minnie and. . . Full story | Further to the transaction announcements, dated 18 January 2011 and 22 November 2010, the board of PSV has pleasure in announcing. . . Full story | Great Basin Gold Ltd announced that it has repaid the 2008 Senior Secured Notes ("Notes")with the proceeds of the previously announced. . . Full story | Further to the cautionary announcement dated 30 September 2010 and subsequent renewal of cautionary announcements, the last of which was dated. . . Full story |
Shareholders of Steinhoff International Holdings Ltd ("SHIL") are referred to the SENS announcements released by Steinhoff International Holdings Ltd on 10 March 2011 and 15 March 2011 regarding the launch, pricing and exercise of the overallotment option of senior unsecured guaranteed. . . Full story | Shareholders are referred to the announcement published on SENS on 7 February 2011. The company announced that there was no successful offer to acquire the Informante newspaper. The company therefore retains ownership of the newspaper and will continue to publish a. . . Full story |
Company Results | Revenue increased from R3 342 million to R3 753 million in 2010. Gross profit increased to R794.2 million (2009: R534.9million) and. . . Full story | Revenue increased by 44.8% to R1 139.7 million (R787.3 million). Results from operating activities rose to R107.2 million (R70.5 million). Net. . . Full story | Group revenue increased 7.8% to R906.1 million for the year ended 31 December 2010 from R840.4 million in the previous year,. . . Full story | Revenue increased by 0.2% from R3 921 million to R3 929 million in 2010. Gross profit increased by 0.8% to. . . Full story |
World Markets
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 16/03/2011 | 240 | 96 | 73 | 409 | 343,371,371 | R15,949,566,078 | 144797 | 2358292 |
| 15/03/2011 | 66 | 322 | 50 | 438 | 351,878,636 | R15,762,386,205 | 145313 | 2606748 |
| 14/03/2011 | 112 | 208 | 75 | 395 | 233,721,763 | R10,948,948,910 | 98865 | 2213970 |
| 11/03/2011 | 153 | 201 | 77 | 431 | 386,072,038 | R16,131,321,108 | 139359 | 2484282 |
| 10/03/2011 | 85 | 286 | 77 | 448 | 374,677,510 | R17,770,353,202 | 132557 | 2279036 |
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Stock Exchange News Service
| Date | Time | Headline |
| 16/03/2011 | 17:48 | Purple Capital Limited - Unaudited results for the six months ended 28 |
| 16/03/2011 | 17:45 | Marshall Monteagle Plc - Dealing in securities by directors |
| 16/03/2011 | 17:45 | London Finance & Investment Group P.L.C - Dealing in securities by |
| 16/03/2011 | 17:44 | SA French Limited - Terms announcement of the proposed rights offer to |
| 16/03/2011 | 17:38 | Vunani Limited - Trading update |
| 16/03/2011 | 17:34 | Evraz Highveld Steel and Vanadium Limited - Audited results for the year |
| 16/03/2011 | 17:21 | Mvelaserve Limited - Dealing in securities by director |
| 16/03/2011 | 17:16 | Efficient Group Limited - Unaudited interim financial results for the six |
| 16/03/2011 | 17:15 | Remgro Limited - Change in financial year-end |
| 16/03/2011 | 16:43 | B & W Instrumentation And Electrical Limited - Change to the board of |
| 16/03/2011 | 16:41 | Capevin Investments Limited - Dealing in Capevin Investments shares by an |
| 16/03/2011 | 16:10 | WRF - Workforce Holdings Limited - Trading Update |
| 16/03/2011 | 16:00 | RMHIDD - Investec Bank Limited - Correction: Adjustment to the terms and |
| 16/03/2011 | 15:29 | THEE - The Competition Commission - Commission refers a collusion case in the |
| 16/03/2011 | 15:19 | Southern Electricity Company Limited - Appointment of director |
| 16/03/2011 | 15:17 | RMB Holdings Limited - Apportionment of cost for taxation and/or capital |
| 16/03/2011 | 15:13 | Growthpoint Properties Limited - Dealing in securities by director |
| 16/03/2011 | 14:34 | PSV Holdings Limited - Finalisation of the Turbo Agencies (Pty) Ltd |
| 16/03/2011 | 14:30 | Great Basin gold Repays Senior Secured Notes |
| 16/03/2011 | 14:13 | Life Healthcare Group Holdings - Dealing In Securities By Company |
| 16/03/2011 | 14:10 | Assore Limited - Dealing in securities by a director |
| 16/03/2011 | 13:22 | Thabex Limited - Renewal of cautionary announcement |
| 16/03/2011 | 13:20 | VN - Sabvest Limited - Notification of director`s dealings in Sabvest |
| 16/03/2011 | 12:45 | Anglo American plc - Director`s / PDMR`S Interests |
| 16/03/2011 | 12:11 | Coal of Africa Limited - Consolidated financial report for the period |
| 16/03/2011 | 12:00 | MND/MNP - Mondi Limited/Mondi plc - Notification of Major Interests in |
| 16/03/2011 | 12:00 | Great Basin Gold Limited - Audited consolidated financial statements for |
| 16/03/2011 | 11:45 | Exxaro Resources - Trading of Exxaro ordinary shares on behalf of the |
| 16/03/2011 | 11:42 | Bell Equipment - Acceptance of options by directors and the company |
| 16/03/2011 | 11:27 | SA Corporate Real Estate Fund - Dealing in securities by a director |
| 16/03/2011 | 11:25 | Steinhoff International Holdings Limited - Fairness Opinion in connection |
| 16/03/2011 | 10:27 | Trustco Group Holdings Limited - Voluntary Announcement: Update on Tender |
| 16/03/2011 | 09:55 | Tawana Resources NL - Placement |
| 16/03/2011 | 09:00 | CCO - Capital & Counties Properties PLC - Analyst & investor briefing on the |
| 16/03/2011 | 08:46 | Rainbow Chicken Limited - Dealings in securities by a director of a major |
| 16/03/2011 | 07:15 | Foneworx Holdings Limited - Unaudited consolidated interim results for the |
| 16/03/2011 | 07:13 | BHP Billiton Plc - Transaction in shares |
| 16/03/2011 | 07:10 | British American Tobacco p.l.c - Transaction in own shares |
| 16/03/2011 | 07:10 | Lonmin Plc - Notification of major interest in shares |
| 16/03/2011 | 07:06 | Gold One to present at the proactive investors one2one forum |
| 16/03/2011 | 07:05 | Digicore Holdings Limited - Allocation of options in terms of the Digicore |
| 16/03/2011 | 07:05 | ELR/ELRP - ELB Group Limited - Unaudited group interim report and interim cash |
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