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Monday, 04 April 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
Global returns across various countries
It is always fascinating to look back at tables that rank performance across shares, various asset classes and even countries. Increasingly, South African investors are part of the global arena, despite the fact that over the last 10 years it has definitely not only felt safe, but been more rewarding having a local focus.
The chart below reflects investor returns in equities across various countries in discrete calendar years.
Ten countries were ranked in terms of the performance of their main stockmarket index for the particular year. Two broader categories were also included, namely emerging markets and developed markets.
From time to time the equity markets in a particular country can have a run that lasts for 2 or 3 years, but in general there is no real pattern as to which country will outperform in any one calendar year. Investors will need to look at specific valuation metrics and even then this is not fool proof over relatively shorter periods of time.
In terms of comparing emerging markets with developed markets however, there has been a fairly clear pattern over these last 10 years. Looking at this patchwork quilt it is evident that emerging markets have been the outright winner. In 4 of the 10 years, this category was ranked first and in another 4 it was ranked second.
Global stockmarket returns
Source: Morningstar and ICMA-RC
We have discussed this decade long outperformance of emerging markets before. Essentially the strong relative outperformance against developed markets can be explained by the relative valuations of these 2 classifications at the start of the decade.
Starting from a point where valuations in developed markets were expensive and valuations in emerging markets attractive, emerging markets have been the winner. Combine this with cheap money creation in more recent years and the ongoing search for yields and we have an environment where post the 2007/08 credit crisis, the more risky emerging markets continued to find favour with global investors.
Many aspects of financial markets are cyclical and were this chart extend back by 10 years, it would paint a different picture to the one above.
Kind regards
Ian de Lange
info@seedinvestments.co.za
www.seedinvestments.co.za
021 9144 966
Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-04-04T145920Z_01_AJOE73315MY00_RTROPTP_3_OZABS-SAFRICA-SUGAR-20110404.JPG "A sugar farmer gathers cane on a plantation outside Empangeni in KwaZulu Natal province. Traditional..") South Africa recorded a 12 percent declined in sugar output for the 2010/11 season, touching fresh 15-year lows, after drought scorched sugar-growing areas last year, data showed on Monday. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-04-04T094416Z_01_AJOE7330R1U00_RTROPTP_3_OZABS-SAFRICAS-MARCH-VEHICLE-SALES-UP-228-PCT-YR-Y.JPG "New VW cars are covered with protective covers before loaded for export on a transport ship at the harbour in Emden") South Africa's new vehicle sales rose by 22.8 percent year-on-year in March to 53,478 units, the National Association of Automobile Manufacturers Full story |
 Forces loyal to Libyan leader Muammar Gaddafi are staging a "massacre" in the besieged city of Misrata, evacuees said on Monday, as Turkey said it was trying to broker a cease-fire to halt the bloodshed. Full story  Police and armed men in civilian clothes opened fire on anti-government demonstrators in the Yemeni cities of Taiz and Hudaida on Monday, witnesses said, as a drive to oust President Ali Abdullah Saleh gathered pace. Full story  Japan has asked nuclear superpower Russia to send a special radiation treatment ship used to decommission nuclear submarines to help in its fight to contain the world's worst atomic crisis since Chernobyl, Japanese media said late on Monday. Full story |
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Markets |
Gold pared gains on Monday
but stayed within reach of its record high, as investors
fretted over inflation and dollar weakness against the. . . Full story |
European equities edged up to a
three-week closing high on Monday supported by merger news, with
Rhodia leading chemical stocks after Solvay's 3.4. . . Full story |
The S&P 500 met tough
resistance on Monday, with the next major catalyst that could
push stocks higher not expected until quarterly earnings
reports. . . Full story |
Strength from commodity stocks
helped Britain's top shares inch up to its highest close in six
weeks on Monday, but trading was light. . . Full story | |||
Merger and acquisition
activity helped buoy global equities on Monday, but gains were
kept in check after recent highs, while expectations of higher
euro. . . Full story |
Australian shares rose 0.5
percent on Monday, up for a fifth straight day, after strong
U.S. jobs growth spurred optimism about the global. . . Full story |
Hong Kong shares were higher
on Monday in brisk trade, largely supported by financial majors
as news of impending high-profile listings boosted investors
bullishness. . . Full story |
U.S. blue chips surged to an
early 3-year high on Friday as encouraging jobs growth kicked
the second quarter off to a strong. . . Full story | ||||
SA Business |
South Africa's rand steadied near 3-month highs against the dollar on Monday, with potential for further strength seen if the currency breaks below 6.70.. . . Full story | ||||||
Zambia's Copperbelt Energy Corp. Ltd (CEC) and Liquid Telecom of Mauritius on Monday announced a joint venture company that will provide telecommunication services in Zambia.. . . Full story | The chairman of Egyptian telecoms firm Orascom Telecom (OT) has delayed seeking international arbitration in a dispute with Algeria's government over the fate of its Djezzy unit, newspaper Al Mal reported.. . . Full story | Booming commodity prices
are seen driving growth in much of Africa this year, and have
been a blessing for some countries but a bane for others.. . . Full story |
Company News |
Optimum announced the resignation of Henry White, executive director, operations effective from 30 April 2011. The replacement for his role will. . . Full story |
Mr Anthony Dixon-Seager has retired from the board of directors of Seardel with effect from 31 March 2011, as per the. . . Full story |
The Sunday Times Business Times reported that rumours appeared again about a deal between Old Mutual plc ("Old Mutual") and Standard. . . Full story |
The board of Stefanutti Stocks announced that the group's results for the year ended 28 February 2011, being earnings and headline. . . Full story | |||
According to Business Day, Liberty has set itself a target to improve its embedded value this year by more than 15%. This insurer will achieve this by focusing on increasing the quality of new business volumes in its core insurance operations.. . . Full story |
Old Mutual has published its annual financial report for 2010. A copy of the annual financial report, the annual review and summary financial statements for 2010, the notice of the 2011 annual general meeting and form of proxy will shortly be. . . Full story | ||||||
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 04/04/2011 | 197 | 145 | 73 | 415 | 219,118,224 | R9,815,944,176 | 89949 | 1694363 |
| 01/04/2011 | 200 | 136 | 81 | 417 | 278,937,111 | R13,076,718,578 | 106885 | 2036488 |
| 31/03/2011 | 190 | 154 | 86 | 430 | 317,069,149 | R16,915,811,553 | 121859 | 1962439 |
| 30/03/2011 | 280 | 92 | 72 | 444 | 292,592,061 | R16,907,826,853 | 134331 | 2036044 |
| 29/03/2011 | 198 | 121 | 77 | 396 | 228,178,567 | R10,740,638,240 | 88171 | 1886262 |
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Index Summary
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Stock Exchange News Service
| Date | Time | Headline |
| 04/04/2011 | 17:33 | Exxaro Resources Limited - Acceptance of conditional awards granted in |
| 04/04/2011 | 17:32 | Mazor Group Limited - Trading Statement |
| 04/04/2011 | 17:30 | Optimum Coal Holdings Limited - Change to board of directors |
| 04/04/2011 | 17:18 | Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of |
| 04/04/2011 | 17:00 | African Rainbow Minerals Limited - Director`s dealings in ARM securities |
| 04/04/2011 | 17:00 | Brait S.A. - Revised timetable regarding Brait`s ZAR5.9 billion capital |
| 04/04/2011 | 16:56 | GND & GNDP - Grindrod - Share dealings by a director and an associate of a |
| 04/04/2011 | 16:56 | SER/SRN - Seardel Investment Corporation Limited - Change to board of directors |
| 04/04/2011 | 16:50 | Standard Bank Group Limited - Director`s Dealings in Securities |
| 04/04/2011 | 16:32 | Beige Holdings Limited - Rights offer finalisation announcement |
| 04/04/2011 | 16:02 | Murray & Roberts Holdings Limited - Share dealings by director: |
| 04/04/2011 | 15:43 | Distell Group Limited - Dealings in securities by a director of a major |
| 04/04/2011 | 14:59 | Hardware Warehouse Limited - Dealings in securities by a director |
| 04/04/2011 | 14:24 | Gold Fields Limited - Dealing in securities |
| 04/04/2011 | 13:42 | Gold Fields - Dealing in securities by a Director |
| 04/04/2011 | 13:15 | British American Tobacco p.l.c - Notification of transactions of |
| 04/04/2011 | 13:00 | Anglo American plc - Directors` Interests |
| 04/04/2011 | 12:00 | Massmart Holdings Limited - Trading of Massmart ordinary shares on behalf |
| 04/04/2011 | 11:28 | Awethu Breweries Limited - Amended condensed interim results for the six |
| 04/04/2011 | 11:04 | GEN - The Securities Regulation Panel - Appointment of executive director |
| 04/04/2011 | 11:03 | Standard Bank Group Limited - Directors dealings in securities |
| 04/04/2011 | 10:47 | Stefanutti Stocks - Trading Statement |
| 04/04/2011 | 09:59 | Exxaro - Trading of Exxaro Ordinary Shares on behalf of the Exxaro |
| 04/04/2011 | 09:49 | ArcelorMittal South Africa Limited - Appointment of Independent Non- |
| 04/04/2011 | 09:45 | Glenrand M I B Limited - Dealing in securities by directors and company |
| 04/04/2011 | 08:31 | Sappi Limited - Trading Update in Respect of Debt Refinancing and Bond |
| 04/04/2011 | 08:30 | Sappi Announces US$680 Million multi-currency Senior Secured Notes |
| 04/04/2011 | 08:00 | Old Mutual Plc - Annual Financial Report 2010 and Annual General Meeting |
| 04/04/2011 | 08:00 | Pan African Resources plc - Mozambique government awards mining licence |
| 04/04/2011 | 07:20 | Metorex Limited - Metorex Group Mineral Resources and ore reserves |
| 04/04/2011 | 07:15 | Anglo American plc - Annual Information Update for the 12 months up to and |
| 04/04/2011 | 07:10 | British American Tobacco p.l.c - Transaction in own shares |
| 04/04/2011 | 07:08 | Coal of Africa Limited - Vele Integrated Water use License Granted |
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