Wednesday, 23 March 2011 - 20:00
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Charts
S.Africa's rand weakens; stocks up for 2nd day
By Phumza Macanda and Tiisetso Motsoeneng
JOHANNESBURG (Reuters) - The South African rand weakened towards the 7.00 mark against a broadly firmer dollar on Wednesday, but stocks bucked the weaker tone in global equities as miners gained on higher commodity prices.
South African stocks notched up their second straight day of gains with the JSE Top-40 index of blue chips adding 1.21 percent to 28,126.26 points and the broader All-share index up 1.12 percent to 31,215.55.
"We were shielded by the commodity prices seeing that global markets are looking shaky at the moment," Mitchell Gannaway, a trader at Thebe Securities said.
The rand was trading at 6.94 against the dollar at 1542 GMT, 0.6 percent weaker than Wednesday's New York close of 6.8980.
"The rand has remained quite strong despite dollar strength, so it is now playing catch-up," said Ion de Vleeschauwer, chief dealer at Bidvest Bank.
"A lot of people are a bit concerned about the euro zone situation, so we could see the rand inch up closer to 7.00/dollar, but I don't think 7.00 is on the cards yet because there's decent exporter interest at these levels."
Deepening worries that Portugal could become the third euro zone economy to seek emergency help was weighing on the euro -- the currency of South Africa's largest trading partner.
MINERS BOOST BOURSE
On the bourse, miners dominated the gainers' list, tracking higher commodity prices, boosting Harmony by 3.47 percent to 87.95 rand and making it the biggest percentage gainer on the blue-chip index.
Anglo Platinum rose 3.38 percent to 672 rand and Gold Fields was 2.43 percent better at 115.75 rand.
Elsewhere, Massmart was up 1.25 percent to 132 rand, recouping sharp losses suffered in the previous session on worries that its deal with Wal-Mart could fall through.
"The feeling in the market is that the deal will go through despite yesterday's nervousness," one trader said.
Data showed inflation came in at 3.7 percent year-on-year for February, bang-in-line with forecasts. Bonds firmed as some market players had priced in a higher-than-expected CPI outcome.
The yield on the 2015 bond was down 3.5 basis points to 7.8 percent and that on the 2026 note fell by two basis points to 8.925 percent.
Focus now moves to Thursday's interest rate decision around 1300 GMT, with the central bank expected to raise its inflation forecasts on the back of higher oil and food prices, a move that could weigh on bonds.
All 21 economists polled by Reuters last week expected the central bank to leave the repo rate steady at 5.5 percent.
Wed, 23 Mar 2011
Top News
South Africa's MTN has teamed up with Hollard Insurance and MFS Africa to launch a mobile money life insurance project in Ghana and plans to further roll out the programme later this year. Full story
South Africa's targeted consumer inflation was at 3.7 percent year-on-year in February, unchanged from January and in line with consensus, official data showed on Wednesday. Full story |
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Worries that a political
crisis in Portugal could force the debt-laden country to seek a
bailout sent the euro lower on Wednesday and triggered
safe-haven demand for German government bonds. Full storyJapan estimated the cost of the damage from its devastating earthquake and tsunami could top $300 billion (184 billion pounds) as authorities in Tokyo warned that babies should not be given tap water because of radiation from a crippled nuclear plant. Full storySyrian forces killed at least six people on Wednesday in an attack on a mosque in the southern city of Deraa, site of unprecedented protests challenging President Bashar al-Assad's Baathist rule, residents said. Full story |
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Markets | U.S. stocks were near flat
on Wednesday as unrest in the Middle East and North Africa
kept investors cautious, but materials shares gained.. . . Full story | | Gold rose to within a
whisker of its all-time high on Wednesday, as disappointing U.S.
housing data, renewed euro zone debt fears and. . . Full story | | Britain's top share index was
flat after the UK budget held few surprises on Wednesday, with
strength from miners offsetting falls from supermarkets. . . Full story | | European stocks were almost flat
around midday on Wednesday, with their week-long tentative
rebound halted by the return of concerns over the euro. . . Full story |
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| U.S. stock index futures
fell on Wednesday, after modest losses in the previous session,
as worry continued over debt issues in the euro. . . Full story | | European shares edged higher on
Wednesday, led by miners as the price of copper and other metals
rose on upbeat comments on the. . . Full story | | Australian stocks ended up
0.2 percent on Wednesday, as investors focused on banks, seen as
the safest bet amid uncertainty over Japan's nuclear. . . Full story | | Hong Kong stocks were set
for a mild decline at Wednesday's open as weak overseas markets
and lacklustre results from large caps weighed.. . . Full story |
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SA Business | South Africa's rand was slightly weaker against the dollar on Wednesday while government bonds held firm ahead of inflation data at 0800 GMT expected to show that domestic price pressures are ticking higher.. . . Full story |
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| Wal-Mart Stores Inc and Massmart Holdings Ltd are considering legal options to speed up a hearing into the U.S. group's $2.3. . . Full story | | South Africa's National Union of Mineworks said on Wednesday that 4,200 workers at DRDGold's Blyvoor mine would down tools for a. . . Full story | | Kenya needs to consolidate its
separate agricultural exchanges to increase the commodities
traded and attract new ones, but it needs a new law. . . Full story | | South Africa will likely cut its maize output forecast for the May 2010-April 2011 season as wet conditions in some areas. . . Full story |
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| Diversified miner AngloAmerican expects to nearly double iron ore production to around 80 million tonnes by 2014 as it digs new mines in Brazil and South Africa, but has no aspirations. . . Full story | | Australia's thermal coal prices,
a benchmark for Asia, extended their decline during the past
week as near-term weakness in Japanese demand weighed on the
market.. . . Full story | | Gold Fields, the world's
fourth-largest listed gold miner, said on Tuesday it was
possible the price of bullion may break $1,500 an ounce this
year on the back of positive fundamentals.. . . Full story |
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Company News | Shareholders are advised that the annual report which contains the annual financial statements of Merafe Resources for the year ended 31. . . Full story | | Great Basin announced that further to the company's November 23, 2010 news release which advised that its Hollister trial mining operation. . . Full story | | Further to the announcement made by the company on 2 March 2011, shareholders are advised that due to the recent announcement. . . Full story | | A number of analysts and investors will be visiting The Trafford Centre and the Arndale, Manchester on 24 March 2011. During. . . Full story |
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| The company advised that Mr Ntando Simelane has been appointed as company secretary with effect from 1 April 2011.. . . Full story | | Shareholders of the company are advised that the European benchmark ferrochrome price has been settled at USD1.35 per pound for the second quarter of 2011, an increase of 8% from USD1.25. . . Full story | | Anglo American plc announced that 43 431 ordinary shares were transferred from treasury shares on 21 and 22 March 2011, in respect of the grant of awards and vesting of awards. . . Full story |
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Company Results | Revenue grew to R1.2 billion (R1 billion) and gross profit rose to R278.6 million (R247.2 million). However, earnings before interest, taxation, depreciation and amortisation (EBITDA) fell marginally to R36 million (R36.4. . . Full story | | Revenue for the interim period increased by 20.4% to R317.9 million (2009: R264 million). Operating profit decreased by 1.3% to R15.9 million (2009: R16.1 million), while profit and total comprehensive income. . . Full story | | Revenue for the interim period increased to R484.9 million (2009: R362.2 million). Gross profit rose to R136.3 million (2009: R106.7 million), while profit attributable to equity holders of the parent improved. . . Full story |
World Markets
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 31215.55 | 347.24 | 1.12% | JSE Top 40 | 17:00 | 28126.26 | 335.46 | 1.21% | JSE Gold | 17:00 | 2641.09 | 66.72 | 2.59% | JSE Financial | 17:00 | 20814.74 | 134.79 | 0.65% | JSE Industrial | 17:00 | 30948.66 | 300.12 | 0.98% | JSE Indust 25 | 17:00 | 25907.27 | 260.49 | 1.02% | JSE Resource | 17:00 | 55795.12 | 786.30 | 1.43% | DJ Futures | 19:40 | 11990.00 | 37.00 | 0.31% | DJ Ind | 18:51 | 12045.30 | 26.67 | 0.22% | SP 500 | 19:36 | 1293.14 | -0.63 | -0.05% | Nasdaq | 19:36 | 2686.43 | 2.56 | 0.10% | FTSE 100 | 18:35 | 5795.88 | 33.17 | 0.58% | DAX | 19:00 | 6804.45 | 23.48 | 0.35% | CAC40 | 18:46 | 3913.73 | 20.27 | 0.52% | Nikkei | 08:36 | 9449.47 | -158.85 | -1.65% | Shanghai | 09:22 | 2949.07 | 29.90 | 1.02% | Hang-Seng | 10:20 | 22825.40 | -32.50 | -0.14% | All Ords | 07:38 | 4746.50 | 8.80 | 0.19% | NZSE 50 | 06:26 | 3375.79 | 10.57 | 0.31% |
| | Name | Time | RP | Move | % Move | Gold | 19:58 | 1437.38 | 9.80 | 0.69% | Gold/Rand | 19:56 | 9938.83 | 114.80 | 1.17% | Gold/R kg | 19:56 | 319656 | 3865 | 1.22% | Silver | 19:58 | 37.1710 | .8170 | 2.25% | Platinum | 19:58 | 1754.00 | 19.00 | 1.10% | Palladium | 19:56 | 743.25 | 10.75 | 1.47% | R157 | 17:46 | 7.79 | -.04 | -0.51% | R204 | 10:06 | 8.59 | -.04 | -0.46% | Brent Crude | 19:56 | 115.44 | -.12 | -0.10% | Rand / Dollar | 19:57 | 6.9144 | 0.0329 | 0.48% | Rand / Pound | 19:55 | 11.2024 | -0.0513 | -0.46% | Rand / Euro | 19:55 | 9.7657 | -0.0194 | -0.20% | Rand / NZD | 19:56 | 5.1302 | 0.0343 | 0.67% | Rand / AUD | 19:55 | 7.0150 | 0.0457 | 0.66% | Yen / Dollar | 19:56 | 80.7900 | -0.2200 | -0.27% | Euro / Dollar | 19:55 | 0.7079 | 0.0039 | 0.55% | Dollar / Euro | 19:58 | 1.4123 | -0.0079 | -0.56% | Pound / Dollar | 19:55 | 0.6153 | 0.0048 | 0.79% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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23/03/2011 | 229 | 115 | 71 | 415 | 271,350,438 | R13,213,098,518 | 111660 | 2366083 | 22/03/2011 | 190 | 148 | 77 | 415 | 272,539,301 | R13,852,712,293 | 135637 | 2257974 | 18/03/2011 | 149 | 181 | 78 | 408 | 305,509,186 | R13,710,921,213 | 100892 | 2437383 | 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 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 28,126.26 | 335.46 | 1.21% | Industrial | 30,948.66 | 300.12 | 0.98% | Mid Cap | 39,936.21 | 245.75 | 0.62% | Small Cap | 31,110.58 | 284.64 | 0.92% | Resource 20 | 55,795.12 | 786.30 | 1.43% | Industrial 25 | 25,907.27 | 260.49 | 1.02% | Financial 15 | 7,893.43 | 51.41 | 0.66% | Financial & Ind. 30 | 29,143.30 | 276.97 | 0.96% | All Share | 31,215.55 | 347.24 | 1.12% | Oil & Gas | 28,286.16 | 108.40 | 0.38% | Mining | 36,464.45 | 595.72 | 1.66% | Gold Mining | 2,641.09 | 66.72 | 2.59% | Platinum Mining | 74.77 | 1.12 | 1.52% | Oil & Gas Producers | 15,208.95 | 58.29 | 0.38% | Basic Materials | 30,693.79 | 470.42 | 1.56% | Chemicals | 13,086.16 | 53.13 | 0.41% | Forestry & Paper | 13,865.63 | -60.13 | -0.43% | Industrial Metals | 28,297.70 | 290.58 | 1.04% | Industrials | 26,529.43 | 100.34 | 0.38% | General Industrials | 73,244.96 | 800.33 | 1.10% | Consumer Goods | 25,484.14 | 261.64 | 1.04% | Automobiles & Parts | 3,023.05 | -9.06 | -0.30% | Household Goods | 152.52 | -0 | -0.21% | Health Care | 30,743.55 | 181.61 | 0.59% | Beverages | 79,022.52 | 1876.04 | 2.43% | Food Producers | 45,990.19 | 496.10 | 1.09% |
| | Index Name | RP | Move | % Move | Personal Goods | 392.31 | -2.50 | -0.63% | Consumer Services | 51,148.49 | 576.07 | 1.14% | General Retailers | 38,930.50 | 859.86 | 2.26% | Travel & Leisure | 3,531.89 | -50.28 | -1.40% | Media | 81,289.81 | -181.50 | -0.22% | Support Services | 2,402.15 | -5.50 | -0.23% | Telecommunications | 63,763.78 | 966.96 | 1.54% | Financials | 20,814.74 | 134.79 | 0.65% | Banks | 39,055.30 | 392.06 | 1.01% | Non-life Insurance | 30,008.25 | 276.44 | 0.93% | Life Insurance | 15,683.60 | 40.27 | 0.26% | General Financial | 2,187.58 | 10.47 | 0.48% | Technology | 20,190.90 | -40.92 | -0.20% | SHARIAH TOP40 | 3,184.73 | 45 | 1.43% | FTSE/JSE SHARIAH ALL | 3,233.55 | 43 | 1.34% | COAL MINING | 21,210.51 | -69 | -0.32% | FTSE JSE Fledgling | 4,492.15 | -19 | -0.41% | FTSE/JSE Alt X | 1,039.87 | -4 | -0.39% | SA LISTED PROPERTY | 357.59 | | 0.41% | CAPPED PROPERTY | 298.73 | | 0.46% | RESOURCE | 30,740.51 | 451 | 1.49% | DIVIDEND PLUS | 161.09 | 1 | 0.58% | FTSE/JSE RAFI 40 | 6,548.25 | 69 | 1.06% | Capped Top 40 | 14,633.84 | 171 | 1.18% | Capped All Share | 15,703.06 | 173 | 1.11% |
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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 | 18 Mar | PAP | PANGBOURNE PROPERTIES LIM... | HOLD | 18 Mar | SBK | STANDARD BANK GROUP LIMIT... | SELL | 18 Mar | AIP | ADCOCK INGRAM HLGS LD | HOLD | 18 Mar | LHC | LIFE HEALTHCARE GRP HLDG ... | BUY | 18 Mar |
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Results Expected** Expected | Company Name | Fin. Date | 24 Mar 2011 | ACCENT | December 2010 (Interim) | 24 Mar 2011 | EASTPLATS | December 2010 (Final) | 25 Mar 2011 | AFRO-C | December 2010 (Interim) | 25 Mar 2011 | AFROC-P | December 2010 (Interim) | 25 Mar 2011 | AND | December 2010 (Final) |
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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 | STANBANK | 11-03-03 | 11-04-01 | 11-04-11 | R 2.4500 | STANBANK6.5 | 11-03-03 | 11-03-25 | 11-04-04 | R 0.0325 | STANBANK-P | 11-03-03 | 11-03-25 | 11-04-04 | R 3.3790 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | SASFIN-P | 11-03-02 | 11-03-17 | 11-03-28 | R 3.6205 | IMPERIALP | 11-02-23 | 11-03-17 | 11-03-28 | R 3.6123 | CAPITEC-P | 11-02-28 | 11-03-17 | 11-03-28 | R 3.4377 | PSGFIN PREF | 11-03-01 | 11-03-17 | 11-03-28 | R 3.4377 | SANTAM | 11-03-01 | 11-03-17 | 11-03-28 | R 3.2500 |
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Upcoming AGMs** Code | Company Name | Date | Status | HDC | Hudaco Industries Ltd | 24/03/2011 | Confirmed | AMSP | Anglo Platinum Ltd | 28/03/2011 | Confirmed | AMS | Anglo Platinum Ltd | 28/03/2011 | Confirmed | ORE | Orion Real Estate Ltd | 29/03/2011 | Confirmed |
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