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Monday, 28 March 2011 - 20:00
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Charts
Zimbabwe news weighs on S.African stocks, bonds weaken
By Phumza Macanda and Gugulakhe Lourie
JOHANNESBURG (Reuters) - South African resource-heavy bourse fell on Monday, dragged lower by platinum shares as Zimbabwe turned up the heat on foreign mining firms.
Impala Platinum, the world's second-largest producer of the precious metal, was the biggest loser after reports that foreign mining firms in Zimbabwe must sell a majority stake to local black investors within six months.
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The JSE Top-40 index of blue chips was down 0.8 percent to end 28,264.76 and the broader All-share index shed 0.69 percent to 31,377.12.
"I think this is because of the Zimbabwean story," said Abri du Plessis, chief investment officer at Gryphon Asset Management, referring to the share price falls.
"That 51 percent that they want in local hands looks fairly fixed at this point in time so that's basically driving the platinum stocks down."
The JSE platinum mining index fell 2.58 percent, led by Impala Platinum dropping 2.82 percent to 192 rand and rival miner Lonmin losing 2.31 percent to 183.16 rand.
London and Johannesburg-listed Aquarius Platinum, the world's fourth largest primary platinum producer, lost 8.54 percent to 37.50 rand.
Bidvest lost 2.23 percent to 146.55 rand as shares of the industrial group trades ex-dividend. Also trading ex-dividend is Africa's biggest mobile phone operator MTN, which dropped 2.26 percent to 131.19 rand and miner Anglo American fell 1.69 percent to 349 rand.
BONDS SLIGHTLY WEAKER
Government bonds weakened a bit, reversing some of last week's gains that were partly driven by strong foreign buying.
The yield on the 2015 bond was down 0.5 basis points to 7.76 percent and the longer dated 2026 bond yield fell two basis points to 8.935 percent.
Foreigners were net buyers of South African bonds last week for the first time since late February, buying 5.9 billion rand worth of local debt as investor aversion toward high risk assets subsided.
On the currency front, the rand was steady, trading at 6.8660 against the dollar at 1535 GMT, not far from Friday's New York close of 6.8645.
"It's looking for some direction and I think that direction will come from the euro. It's not likely to move out of this range unless it goes above 6.92," said Jim Bryson, chief dealer at RMB.
The rand has strong resistance at 6.85, which attempted to break twice last week. Should it pierce that level decisively it would open up 6.81, its strongest level in March.
Deputy Finance Minister Nhlanhla Nene said on Monday the government spent over 50 billion rand in the past twelve months in its efforts to stabilise the rand, a heavily traded currency in global markets.
Mon, 28 Mar 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-03-28T130549Z_01_AJOE72R10DR00_RTROPTP_3_OZABS-KUMBA-20110328.JPG "Iron ore core samples are stored in plastic trays at one of Atlas Iron Limited's prospective iron ore mines near Port Hedland") South Africa's iron ore industry has the potential to more than double output in the next 10 years under suitable growth conditions, Kumba Iron Ore said in a report issued on Monday. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-03-28T081819Z_01_AJOE72R0N2M00_RTROPTP_3_OZABS-SAFRICA-NENE-RAND-20110328.JPG "A BANK TELLER LOOKS AT 50 AND 100 SOUTH AFRICAN RAND NOTES.") South Africa has spent over 50 billion rand over the past year to try and stabilise the volatile rand currency, Deputy Finance Minister Nhlanhla Nene said on Monday. Full story |
 The euro weakened on Monday
after German Chancellor Angela Merkel's conservatives were
routed in elections in a key state, while world shares eased
back after their recent rally. Full story  Plutonium found in soil at the crippled Fukushima nuclear complex heightened alarm on Tuesday over Japan's lengthy battle to contain the world's worst atomic crisis in 25 years. Full story  Rebels advanced towards the birthplace of Libyan leader Muammar Gaddafi on Monday, firing mortars and heavy machineguns in sporadic clashes with loyalist forces. Full story |
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Markets |
The euro rose on Monday on
expectations of higher euro-zone interest rates while world
stocks eked out gains as concerns about Middle East. . . Full story |
European shares edged higher on
Monday, with tech stocks Alcatel-Lucent and Nokia lifting the
sector after a ratings upgrade.. . . Full story |
Gold prices continued
to cut their losses on Monday as the dollar erased gains on the
euro, once the European Central Bank seemed. . . Full story |
U.S. stocks advanced on
Monday, boosted by strength in telecommunications and an eighth
straight monthly rise in consumer spending, but jitters about
overseas concerns. . . Full story | |||
Bullish broker comment helped
push the banking sector higher on Monday, as Britain's top share
index neared key technical resistance levels after its. . . Full story |
The Nikkei average nudged lower
on Monday after reports of soaring radiation levels at a damaged
nuclear plant, with the benchmark tethered in. . . Full story |
Australian shares edged
lower on Monday, ending a six-day wining streak, as BHP Billiton
and other miners retreated from recent highs on. . . Full story |
Global stocks posted their
best week since December on Friday, while the dollar rallied
after a Federal Reserve official said the U.S. central. . . Full story | ||||
SA Business |
South Africa's rand was barely changed against the dollar on Monday and is unlikely to respond much to domestic data this week after last week's widely expected central bank decision to leave interest rates on hold.. . . Full story | ||||||
U.S. retailer Wal-Mart Stores is taking Namibia's competition watchdog to court over conditions attached to its bid for control of South. . . Full story | EADS <EAD.PA> has ended a
three-year acquisition drought in North America with a C$625
million ($640 million) cash bid for Canadian overhaul and
repair. . . Full story | Shares in South Africa-listed platinum miners tumbled on Monday as Zimbabwe turned up the heat on foreign mining firms and gave. . . Full story | Egypt's Orascom Telecom said on Monday it was seeking to raise its capital to 14 billion Egyptian pounds from 7.5 billion. . . Full story |
Company News |
Shareholders wee advised of the following changes to the board/executive team of Grindrod:
*Laurence Stuart-Hill, executive director and Chief Executive of. . . Full story |
Notification was given of the appointment of the following independent non-executive directors on the boards of Sanlam and Sanlam Life Insurance. . . Full story |
Shareholders are advised that at the annual general meeting of Angloplat held on 28 March 2011, all the resolutions set out. . . Full story |
According to Business Day, Pretoria Portland Cement is building up its operations in the Western Cape, Despite SA's deepest cement market. . . Full story | |||
The following offering circular has been approved by the UK Listing Authority and is available for viewing:
Offering circular dated 25 March 2011 (the "offering circular") relating to the USD10 000 000 000 Euro Medium Term Note Programme by Anglo and. . . Full story |
The Government of Zimbabwe gazetted the Indigenisation and Economic Empowerment Act in 2007. This Act made provision for the indigenisation of up to 51% of all foreign owned businesses operating in Zimbabwe. Regulations in support of the Act were subsequently published. . . Full story | ||||||
Company Results | Net gains on investments and income from operations grew significantly to USD195.9 million (USD66.7 million) and profit from operations more than doubled to USD157.9 million (USD61.5 million). Net profit for the. . . Full story | Revenue 7%. . . Full story | Revenue rose to R460.8million (R440.1 million). Operating profit decreased to R16.9 million (R18.3 million), but net attributable earnings improved slightly to R6.6 million (R6.5 million). In addition, headline earnings per share. . . Full story |
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 28/03/2011 | 137 | 179 | 82 | 398 | 203,154,801 | R8,181,057,585 | 74139 | 1841863 |
| 25/03/2011 | 186 | 148 | 92 | 426 | 213,958,141 | R10,669,727,515 | 90869 | 1897200 |
| 24/03/2011 | 220 | 115 | 78 | 413 | 265,580,050 | R13,365,618,952 | 99780 | 2220689 |
| 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 |
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Major Moves Down
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Index Summary
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Stock Exchange News Service
| Date | Time | Headline |
| 28/03/2011 | 17:46 | Avusa Limited - Receipt of an unsolicited expression of interest to |
| 28/03/2011 | 17:45 | Avusa - Receipt of an unsolicited expression of interest to acquire the |
| 28/03/2011 | 17:42 | Wilderness Holdings Limited - Results of the extraordinary general meeting |
| 28/03/2011 | 17:11 | Standard Bank Group - Director`s Dealings in Securities |
| 28/03/2011 | 17:07 | Kaydav Group Limited - Audited results for the year ended 31 December 2010 |
| 28/03/2011 | 17:02 | Primeserv Group Limited - Compensation for contracts from HRS and |
| 28/03/2011 | 17:00 | Group Five Limited - Dealing in securities by a director of a major |
| 28/03/2011 | 16:50 | Bauba Platinum Limited - Successful conclusion of the reinstatement |
| 28/03/2011 | 16:45 | FFA/FFB - Fortress Income Fund Limited - Dealing in Securities |
| 28/03/2011 | 16:45 | Cipla Medpro - Dealing in securities by a Director |
| 28/03/2011 | 16:27 | Village Main Reef Limited - Waiver of mandatory offer |
| 28/03/2011 | 16:20 | GND & GNDP - Grindrod Limited - Directorate |
| 28/03/2011 | 16:00 | RBA Holdings Limited - Trading Statement |
| 28/03/2011 | 15:59 | Sanlam Limited - Appointment of new directors |
| 28/03/2011 | 15:44 | Anglo Platinum Limited - Results of annual general meeting and change of |
| 28/03/2011 | 15:34 | TAW - Tawana Resources NL - Expiry of listed options |
| 28/03/2011 | 15:00 | MND / MNP - Mondi Limited / Mondi plc - Notification of Major Interests in |
| 28/03/2011 | 14:47 | SFN - Sasfin Holdings Limited - Semi-Annual Report in terms of Regulation 43 (1) |
| 28/03/2011 | 13:45 | British American Tobacco p.l.c - Notification of transactions of |
| 28/03/2011 | 13:36 | STANSX - STANLIB SWIX 40 FUND - Distribution Announcement |
| 28/03/2011 | 13:30 | Keaton Energy Holdings Limited - Dealing in securities by a director |
| 28/03/2011 | 13:29 | STAN40 - Stanlib Top 40 Fund - Distribution Announcement |
| 28/03/2011 | 13:26 | Sea Kay Holdings Limited - Trading Update |
| 28/03/2011 | 13:25 | Alert Steel Holdings Limited - Trading Update |
| 28/03/2011 | 13:00 | ZGOVI - Zshares GOVI - Distribution announcement and conversion ratio |
| 28/03/2011 | 12:49 | Hulamin Limited - Dealing in securities by a director |
| 28/03/2011 | 12:36 | Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of |
| 28/03/2011 | 11:32 | Universal Industries Corporation Limited - Dealing in securities |
| 28/03/2011 | 11:03 | Sable Holdings Limited - Trading statement |
| 28/03/2011 | 11:01 | Decillion Limited - No change statement and notice of annual general |
| 28/03/2011 | 10:51 | Woolworths Holdings Limited - Dealing in securities by a director |
| 28/03/2011 | 10:30 | Tawana Resources NL - Change of director`s interest notice |
| 28/03/2011 | 10:01 | PAPIVB - Investec Bank Limited - Notice Regarding Pangbourne Properties Limited |
| 28/03/2011 | 09:33 | Rare Holdings Limited - Trading statement |
| 28/03/2011 | 09:00 | British American Tobacco P.l.c - Annual Report for the Year Ended 31 |
| 28/03/2011 | 09:00 | Advtech Limited - Condensed consolidated statement of comprehensive income |
| 28/03/2011 | 08:21 | Vunani Limited - Updated trading statement |
| 28/03/2011 | 08:06 | Metorex Limited - Cautionary Announcement |
| 28/03/2011 | 07:15 | Anglo American plc - Publication of Offering Circular |
| 28/03/2011 | 07:10 | British American Tobacco p.l.c.- Transaction in own shares |
| 28/03/2011 | 07:05 | Aquarius Platinum Limited - Indigenisation and economic empowerment |
| 28/03/2011 | 07:05 | Amalgamated Electronic Corporation Limited - Programme relating to the |
| 28/03/2011 | 07:05 | Pallinghurst Resources Limited - Provisional results for the year ended 31 |
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