The Sharenet Daily 
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.

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Top News
SA Business
Company News
Company Results
World Markets (Spot Prices)
JSE Today
JSE Trading Statistics
Major Moves
Index Summary
Latest Consensus Changes / Results Expected
Recent Dividends / Ex Div
Upcoming AGMs
Stock Exchange News Service (SENS)

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
021 9144 966

Mon, 04 Apr 2011
Top News
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

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
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)
NameTimeRPMove% Move
JSE Overall17:0032437.7752.450.16%
JSE Top 4017:0029235.2459.680.20%
JSE Gold17:002766.70-4.20-0.15%
JSE Financial17:0021688.39-94.55-0.43%
JSE Industrial17:0032195.65.610.00%
JSE Indust 2517:0026958.612.440.01%
JSE Resource17:0057723.43360.540.63%
DJ Futures20:0012320.002.000.02%
DJ Ind19:3512387.3610.640.09%
SP 50019:401331.31-1.10-0.08%
FTSE 10017:356016.987.060.12%
All Ords08:484984.7030.100.61%
NZSE 5007:063459.517.370.21%
NameTimeRPMove% Move
Gold/R kg20:0030954739571.29%
Brent Crude19:56120.022.251.91%
Rand / Dollar19:586.72080.02030.30%
Rand / Pound19:5510.80040.02210.21%
Rand / Euro19:559.5483-0.0022-0.02%
Rand / NZD19:555.15050.00500.10%
Rand / AUD19:556.9540-0.0205-0.29%
Yen / Dollar19:5983.9400-0.2000-0.24%
Euro / Dollar19:550.70370.00120.17%
Dollar / Euro19:581.4202-0.0028-0.20%
Pound / Dollar19:550.6203-0.0003-0.05%

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The JSE Today
Trading Statistics

Major Moves Up
SharenameSaleMove% MoveVolume
1 MMG  1351512.50.%101160
2 OANDO  2953011.32.%39900
3 COAL  970879.85.%943061
4 ELBGROUP  20001005.26.%44300
5 STEFSTOCK  1075504.88.%388197
6 UCS  215104.88.%10220
7 GRANPRADE  330154.76.%77404
8 WINHOLD  16974.32.%30000
9 TREMATON  14553.57.%10000
10 BASREAD  1185353.04.%115504
11 CROOKES  37001002.78.%828
12 TRUWTHS  74002002.78.%1870526
13 AFGRI  690182.68.%44646
14 AQUARIUS  3900982.58.%4134
15 ARB  32082.56.%28807
16 ESORFRANK  16042.56.%52295
17 CADIZ  28572.52.%135858
18 KEATON   33882.42.%38280
19 PPC  2475572.36.%1781604
20 RAUBEX  1935442.33.%191153

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Major Moves Down
SharenameSaleMove% MoveVolume
1 SACOIL  202-17-7.76.%3192066
2 MAZOR  150-10-6.25.%100200
3 TRNSHEX  261-15-5.43.%16182
4 YORK  355-20-5.33.%5539
5 CAT  1321-74-5.30.%55800
6 PALLINGHT  435-23-5.02.%136041
7 ELLIES   206-9-4.19.%149916
8 PETMIN  295-9-2.96.%320948
9 ONELOGIX  135-4-2.88.%105145
10 GBGOLD  1750-50-2.78.%52567
11 PALCAP  252-7-2.70.%10956
12 METROFILE  183-5-2.66.%22
13 PAN-AF  116-3-2.52.%601441
14 JDGROUP  4745-114-2.35.%773811
15 MMI-HLDGS  1635-39-2.33.%2199852
16 AFRIMAT  337-8-2.32.%8200
17 NETCARE  1446-32-2.17.%2395800
18 VIVIDEND  465-10-2.11.%41500
19 BARWORLD  7440-160-2.11.%1178345
20 JUBILEE  290-6-2.03.%70800

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New Highs
SharenameSaleHighMove% MoveVolume
1 ELBGROUP  200020001005.26.%44300
2 GRANPRADE  330330154.76.%77404
3 WOOLIES  28672927331.16.%2546515
4 SHOPRIT  1057610672760.72.%925600
5 GOLDONE  30731020.66.%352469
6 UNIVERSAL  17617610.57.%5000
7 MONDIPLCP  65056606-44-0.67.%538992
8 DATATEC  37353833-46-1.22.%153299

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New Lows
SharenameSaleLowMove% MoveVolume
1 BAUBA  2201510.11660

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Index Summary
Index NameRPMove% Move
Top 4029,235.2459.680.20%
Mid Cap41,488.30-58.37-0.14%
Small Cap32,045.7798.630.31%
Resource 2057,723.43360.540.63%
Industrial 2526,958.612.440.01%
Financial 158,241.88-45.94-0.55%
Financial & Ind. 3030,368.13-53.74-0.18%
All Share32,437.7752.450.16%
Oil & Gas 29,194.21-176.95-0.60%
Mining 37,830.45294.850.79%
Gold Mining2,766.70-4.20-0.15%
Platinum Mining76.07-.59-0.77%
Oil & Gas Producers 15,697.19-95.14-0.60%
Basic Materials 31,912.29228.730.72%
Chemicals 13,320.7543.510.33%
Forestry & Paper 14,515.76-117.16-0.80%
Industrial Metals 30,780.39171.200.56%
Industrials 27,746.90-109.23-0.39%
General Industrials 76,876.94-532.94-0.69%
Consumer Goods 26,041.60-17.33-0.07%
Automobiles & Parts 3,161.18-9.06-0.29%
Household Goods159.4500.16%
Health Care 31,366.04-140.22-0.45%
Beverages 82,730.17-140.10-0.17%
Food Producers 46,720.18297.240.64%
Index NameRPMove% Move
Personal Goods 386.32-.80-0.21%
Consumer Services 53,405.4464.630.12%
General Retailers 41,187.47309.180.76%
Travel & Leisure 3,655.64-8.92-0.24%
Media 82,415.24-541.11-0.65%
Support Services 2,425.83-13.47-0.55%
Telecommunications 67,699.39277.760.41%
Financials 21,688.39-94.55-0.43%
Banks 41,241.47-323.85-0.78%
Non-life Insurance 30,917.59.000.00%
Life Insurance 16,169.53-103.30-0.63%
General Financial 2,289.615.560.24%
Technology 20,989.82-173.37-0.82%
SHARIAH TOP40 3,316.67170.51%
FTSE/JSE SHARIAH ALL3,366.72160.47%
COAL MINING23,223.1220.01%
FTSE JSE Fledgling 4,481.91-9-0.20%
FTSE/JSE Alt X 1,012.33-2-0.21%
RESOURCE 31,870.001890.60%
DIVIDEND PLUS168.50-0-0.01%
FTSE/JSE RAFI 406,808.8910.02%
Capped Top 4015,208.22110.07%
Capped All Share16,312.61160.10%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
06 Apr 2011VIVIDENDFebruary 2011 (Interim)
08 Apr 2011PHUMELELAJanuary 2011 (Interim)
11 Apr 2011FAIRVESTDecember 2010 (Interim)
11 Apr 2011FAIRVESTPDecember 2010 (Interim)
12 Apr 2011PBTFebruary 2011 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
TELEMASTR11-04-0111-04-1911-05-03R 0.0400
NTC PREF11-04-0111-04-1911-05-03R 3.4161
CAPITEC11-03-3011-06-1711-06-27R 2.0500
ADVTECH11-03-2811-04-1411-04-26R 0.0250
ADVTECH11-03-2811-04-1411-04-26R 0.1100
Ex Div**
Share NameDec-DateLDTPay-DateAmount
SASOL11-03-0711-04-0111-04-11R 3.1000
EXXARO11-02-2411-04-0111-04-11R 3.0000
NEDBANK11-02-2811-04-0111-04-11R 2.6800
STANBANK11-03-0311-04-0111-04-11R 2.4500

Upcoming AGMs**
CodeCompany NameDateStatus
WNHWinhold Ltd07/04/2011Unconfirmed
MMHMiranda Mineral Holdings Ltd07/04/2011Confirmed

Stock Exchange News Service
04/04/201117:33 Exxaro Resources Limited - Acceptance of conditional awards granted in
04/04/201117:32 Mazor Group Limited - Trading Statement
04/04/201117:30 Optimum Coal Holdings Limited - Change to board of directors
04/04/201117:18 Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of
04/04/201117:00 African Rainbow Minerals Limited - Director`s dealings in ARM securities
04/04/201117:00 Brait S.A. - Revised timetable regarding Brait`s ZAR5.9 billion capital
04/04/201116:56GND & GNDP - Grindrod - Share dealings by a director and an associate of a
04/04/201116:56SER/SRN - Seardel Investment Corporation Limited - Change to board of directors
04/04/201116:50 Standard Bank Group Limited - Director`s Dealings in Securities
04/04/201116:32 Beige Holdings Limited - Rights offer finalisation announcement
04/04/201116:02 Murray & Roberts Holdings Limited - Share dealings by director:
04/04/201115:43 Distell Group Limited - Dealings in securities by a director of a major
04/04/201114:59 Hardware Warehouse Limited - Dealings in securities by a director
04/04/201114:24 Gold Fields Limited - Dealing in securities
04/04/201113:42 Gold Fields - Dealing in securities by a Director
04/04/201113:15 British American Tobacco p.l.c - Notification of transactions of
04/04/201113:00 Anglo American plc - Directors` Interests
04/04/201112:00 Massmart Holdings Limited - Trading of Massmart ordinary shares on behalf
04/04/201111:28 Awethu Breweries Limited - Amended condensed interim results for the six
04/04/201111:04GEN - The Securities Regulation Panel - Appointment of executive director
04/04/201111:03 Standard Bank Group Limited - Directors dealings in securities
04/04/201110:47 Stefanutti Stocks - Trading Statement
04/04/201109:59 Exxaro - Trading of Exxaro Ordinary Shares on behalf of the Exxaro
04/04/201109:49 ArcelorMittal South Africa Limited - Appointment of Independent Non-
04/04/201109:45 Glenrand M I B Limited - Dealing in securities by directors and company
04/04/201108:31 Sappi Limited - Trading Update in Respect of Debt Refinancing and Bond
04/04/201108:30 Sappi Announces US$680 Million multi-currency Senior Secured Notes
04/04/201108:00 Old Mutual Plc - Annual Financial Report 2010 and Annual General Meeting
04/04/201108:00 Pan African Resources plc - Mozambique government awards mining licence
04/04/201107:20 Metorex Limited - Metorex Group Mineral Resources and ore reserves
04/04/201107:15 Anglo American plc - Annual Information Update for the 12 months up to and
04/04/201107:10 British American Tobacco p.l.c - Transaction in own shares
04/04/201107:08 Coal of Africa Limited - Vele Integrated Water use License Granted

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