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Thursday, 17 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.African rand hits 2-yr low vs yen, stocks edge up
By Phumza Macanda and David Dolan
JOHANNESBURG (Reuters) - South Africa's rand plunged to two-year lows against the yen on Thursday with further losses seen on expectations Japanese investors may repatriate cash to help rebuild their disaster-hit country.
Stocks edged higher, as investors bet some recently battered shares may have fallen too far. Gains were limited by a decline in media company Naspers, which posted its biggest daily fall in nine months.
The rand has lost about 10 percent against the yen since last week's earthquake and tsunami, which left a crippled nuclear power plant at risk of catastrophic meltdown.
Japanese funds hold about $1.2 billion in rand-denominated bonds, a number that could be higher when including "uridashi" foreign currency bonds sold to retail investors.
Against the dollar, the rand recouped some of its New York losses when it fell to 7.2150.
"Yesterday we had a nice break out of another range (the two week range of 6.81-6.95) which indicates that the momentumn is more to the upside," said Judy Padayachee, technical strategist at Absa Capital.
The currency was trading at 7.0560 by 1542 GMT, 1.88 percent firmer than New York's close of 7.19.
The rand has gyrated between 6.8143 and 7.2150 this week, and technical analysts see it targeting 7.50 in the longer term.
Padayachee said the massive moves seen in the past two sessions point to bearish sentiment towards the rand.
STOCKS EDGE HIGHER
Investors were slowly coming back to shares that had been hammered in a sell-off sparked by concern over Japan's nuclear crisis, said Garth MacKenzie, a trader at Imara SP Reid.
"While our market remains nervous, you are seeing some bargain-hunting coming back in," MacKenzie said.
Johannesburg's Top-40 index of blue chips rose 0.46 percent to 27,660.83, its second straight rise. On Tuesday it fell to its lowest level since early December, hit by fears about the impact of the Japanese crisis.
Resource-hungry Japan, the world's third-largest economy, is a major market for many South African commodities producers.
The broader All-share index rose 0.4 percent to 30,718.55.
FirstRand, South Africa's second-largest bank by market value, rose 2.9 percent to 19.11, after losing 4 percent in the previous five sessions.
Johannesburg-listed shares of Lonmin, the world's third-largest producer of platinum, rose 0.7 percent to 182.94 rand, after falling more than 9 percent over the previous five sessions.
Platinum prices have been hit after Toyota Motor Co and other Japanese car makers halted production of vehicles. Platinum group metals are used to make automobile catalytic converters.
Shares of Naspers, Africa's largest media company, tumbled 4.4 percent to 366.01 rand, its biggest one-day drop since June.
Naspers was hit after Chinese firm Tencent, in which it owns a 30 percent stake, posted its biggest one-day fall in more than two years.
Tencent, China's largest Internet company, fell nearly 11 percent on concerns over tighter operating margins and slower growth.
Tencent's blockbuster growth has been a big contributor to performance of the South African media firm, which is heavily invested in emerging markets and e-commerce Internet companies.
In the fixed income market, the yield on South Africa's benchmark 2015 bond was up 7.5 basis points at 7.92 percent, and that on the 2026 note was 7 basis points higher at 9.01 percent.
The five-year yield has risen nearly 80 basis points since last week on increasing concerns about inflation.
Thu, 17 Mar 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-03-17T064620Z_01_AJOE72G0ITB00_RTROPTP_3_OZABS-SAFRICA-RAND-20110317.JPG "A BANK TELLER LOOKS AT 50 AND 100 SOUTH AFRICAN RAND NOTES.") South Africa's rand extended gains against the dollar to over 2 percent on Thursday in a volatile session as overnight 3-week lows triggered selling interest from exporters. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-03-17T091343Z_01_AJOE72G0PMX00_RTROPTP_3_OZABS-NASPERS-SHARES-20110317.JPG "Electronic board displaying movements in major indices is seen at Johannesburg stock exchange in Sandton") Shares of South Africa's Naspers fell more than 2 percent on Thursday after Chinese firm Tencent, in which it owns a 30 percent stake, posted its biggest one-day fall in more than two years. Full story |
 Japanese military helicopters and fire trucks poured water on an overheating nuclear facility on Thursday and the plant operator said electricity to part of the crippled complex could be restored in a desperate bid to avert catastrophe. Full story  Libyan troops pushed forward towards the insurgent stronghold of Benghazi on Thursday and launched air raids on its outskirts as momentum gathered in support of air raids to stop Muammar Gaddafi's forces. Full story  The leader of Bahrain's largest opposition group has urged Saudi Arabia to withdraw its forces and called for a U.N. inquiry into a crackdown on mainly Shi'ite protesters that has raised tensions in the oil-exporting region. Full story |
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Markets | U.S. stocks gained on
Thursday, bouncing back after three days of declines as
investors searched for bargains, but the near-term outlook is
bearish as. . . Full story | European stocks bounced on
Thursday from three-month lows, mainly in technical buying and
as hedge funds scooped up beaten-down shares, with chartists
saying further. . . Full story | European and U.S. stocks
rebounded from three days of selling on Thursday, despite the
ongoing nuclear plant crisis in Japan, while the yen. . . Full story | Commodity stocks powered a
bounce in Britain's top shares by close on Thursday, as heavy
selling this week made equities look attractive from. . . Full story |
Gold rose on Thursday,
sustained by an increase in exchange traded product (ETP)
holdings, stronger physical demand and a weaker dollar, but
investor selling. . . Full story | China's main stock index
closed down 1.1 percent on Thursday, hit by losses in nuclear
power equipment makers, on growing concerns over radiation. . . Full story | The yen surged to a record
high against the dollar and Asian shares fell on Thursday after
U.S. officials said the risk of. . . Full story | Australian stocks clawed
back early losses to end almost flat after a volatile session on
Thursday as energy companies rallied and major miners. . . Full story |
SA Business | Zambia, Africa's leading copper producer, has introduced tax breaks for new power plants to boost electricity generation and meet growing demand, especially from mines, a senior official said on Thursday.. . . Full story | South African group Telkom has picked the managing director of its domestic unit to be its new chief executive, as the nation's biggest fixed-line operator struggles to craft a turnaround strategy.. . . Full story |
The retail banking unit of South Africa's FirstRand will begin operations in Tanzania by the middle of this year, widening its. . . Full story | South Africa's Shanduka Group is mulling a Johannesburg IPO, its chief executive said on Thursday after the investment firm took control. . . Full story | South African farmers want shale gas exploration and production in the Karoo region to be put on hold until the extraction. . . Full story | South African maize futures edged lower on Thursday, in line with a fall in international prices in the wake of the. . . Full story |
China's largest
Internet company Tencent Holdings suffered its biggest
one-day fall in more than two years on Thursday, slumping 11
percent on concerns over. . . Full story | South African investment bank and asset manager Investec said on Thursday it expects a slight rise in full-year profit, as its. . . Full story | South Africa sees renewable and nuclear energy supplying two-thirds of its power by 2030 as it seeks to heavily cut its. . . Full story | Telkom Kenya, controlled by France Telecom's Orange, said on Thursday it had selected China's No.2 telecommunications equipment maker ZTE Corp to. . . Full story |
Company News | Shareholders of Morvest are referred to the cautionary announcement dated 25 February 2011 and are advised that Morvest has entered into. . . Full story | Pick n Pay has launched South Africa's first major grocery chain loyalty programme as part of its business strategy, enabling the. . . Full story | Business Report noted that FirstRand was in advanced talks to make an investment in Nigeria's Sterling Bank. Reuters reported that FirstRand. . . Full story | Investec is today, 17 March 2011 hosting an investor pre-close briefing at 9:00 (GMT time) (11:00 South African time) which will. . . Full story |
In accordance with Listing Rule 12.6.4, Anglo American plc announces that 12 422 ordinary shares were transferred from treasury shares on 15 and 16 March 2011, in respect of the grant. . . Full story | Datatec Ltd, the international Information and Communications Technology (ICT) group, announces that its subsidiary Logicalis has agreed to acquire Inca Software Ltd ("Inca") from its parent company, Avisen Plc (AIM: AVI),. . . Full story | Shareholders are herewith advised that the Board of Rainbow has approved the change in financial year-end of the company from 31 March to 30 June, with effect from the current financial. . . Full story |
Company Results | The company reported a 39% increase in sales to R771.8 million (R554.6 million) and profit from operations soared to R55.6 million. . . Full story | Revenue for the group increased by 0.9% to R46.2 million from R45.8 million in the previous corresponding period, while gross profit. . . Full story | Revenue increased from CAD33 738 million to CAD99 706 million in 2010. Loss before income taxes decreased to CAD29 090 million. . . Full story | The company reported sales of AUD93.4 million and gross profit of AUD18.6 million (loss of AUD1.4 million). Loss after tax widened. . . Full story |
World Markets
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 17/03/2011 | 174 | 157 | 73 | 404 | 319,918,627 | R16,816,586,065 | 161034 | 2416153 |
| 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 |
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Stock Exchange News Service
| Date | Time | Headline |
| 17/03/2011 | 17:36 | UCS Group Limited - Dealing in securities by a director |
| 17/03/2011 | 17:29 | Rainbow Chicken Limited - Dealings in securities by directors |
| 17/03/2011 | 17:15 | Pinnacle Technology Holdings Limited - Unaudited interim results for the |
| 17/03/2011 | 17:09 | Morvest Business Group Limited - Acquisition of R and S Consulting |
| 17/03/2011 | 16:51 | Austro Group Limited - Results of general meeting - Specific repurchase of |
| 17/03/2011 | 16:50 | PAPIVB - Investec Bank Limited - Notice regarding Pangbourne Properties Limited |
| 17/03/2011 | 16:45 | Brikor Limited - Change to board of directors |
| 17/03/2011 | 16:42 | SOLNIG - Nedbank limited - Dividend distribution announcement in relation to the |
| 17/03/2011 | 16:41 | SBKNII - Nedbank - Dividend distribution announcement in relation to the SBKNII |
| 17/03/2011 | 16:12 | SOLNND - Nedbank - Dividend distribution announcement in relation to the SOL |
| 17/03/2011 | 16:00 | SBKNNI - Nedbank limited - Dividend distribution announcement in relation to The |
| 17/03/2011 | 15:59 | SBKNNH - Nedbank - Dividend distribution announcement in relation to the SBK |
| 17/03/2011 | 15:56 | SBKNIJ - Nedbank - Dividend distribution announcement in relation to the SBK |
| 17/03/2011 | 15:52 | SBV/SVN - Sabvest Limited - Notification of director`s dealings in Sabvest |
| 17/03/2011 | 15:23 | Steinhoff International Holdings - Dealing in securities by director |
| 17/03/2011 | 15:00 | Pick N Pay Says `Thank You` in South Africa`s First Major Grocery Loyalty |
| 17/03/2011 | 14:43 | Lonmin Plc - Notification of major interest in shares |
| 17/03/2011 | 14:38 | York Timber Holdings Limited - Directors dealing in securities |
| 17/03/2011 | 14:36 | Clientele - Dealing in Clientele Limited Shares |
| 17/03/2011 | 14:32 | Trading of Exxaro ordinary shares on behalf of the Exxaro Resources |
| 17/03/2011 | 14:01 | Bell Equipment Limited - Acceptance of options by a director of a major |
| 17/03/2011 | 12:13 | Group Five Limited - Dealing in securities by a director of a major |
| 17/03/2011 | 12:06 | 1time holdings Limited - PROVISIONAL AUDITED RESULTS FOR THE YEAR |
| 17/03/2011 | 10:50 | INL/INP - Investec - Pre-Close Briefing |
| 17/03/2011 | 10:26 | Bowler Metcalf Limited - Cautionary Announcement |
| 17/03/2011 | 10:16 | Massmart Holdings Limited - Trading of Massmart ordinary shares on behalf |
| 17/03/2011 | 09:11 | Rainbow Chicken Limited - Change in financial year-end |
| 17/03/2011 | 09:00 | Datatec Limited - Acquisition of Inca Software |
| 17/03/2011 | 09:00 | SecureData Holdings Limited - Unaudited Results for the six months ended |
| 17/03/2011 | 08:49 | Uranium One Provides Update on ARMZ Offer for Mantra Resources |
| 17/03/2011 | 08:35 | Gold Reef Resorts - Reviewed financial results for the year ended 31 |
| 17/03/2011 | 08:30 | Gold Reef Resorts Limited - Change in company secretary, change of |
| 17/03/2011 | 08:21 | Firestone Energy Limited - New `Met` Coal Mine |
| 17/03/2011 | 08:02 | Anglo American plc - Treasury shares - transfers |
| 17/03/2011 | 08:00 | MVG/ MVGP - Mvelaphanda Group - Unaudited interim results for the six months |
| 17/03/2011 | 07:36 | Winhold Limited - Announcement to Shareholders |
| 17/03/2011 | 07:10 | British American Tobacco p.l.c - Transaction in own shares |
| 17/03/2011 | 07:06 | BHP Billiton Plc - Transaction in shares |
| 17/03/2011 | 07:05 | Telkom SA Limited - Appointment of Chief Executive Officer |
| 17/03/2011 | 07:05 | Cipla Medpro - Reviewed condensed consolidated results for the year ended |
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