The Sharenet Daily 
Tuesday, 05 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
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)

What will increased interest rates do to risk aversion?

G10 countries are slowly but surely shifting into gear to raise interest rates. Low interest rates have been key to fuelling the global economy and to the lower risk aversion. Higher interest rates tend to increase risk aversion and are therefore typically negative for asset prices.

Today China raised its interest rates again – the fourth increase in 5 months. They increased by 0,25% to help tame inflation.

The European Central Bank is set to raise its interest rates this week. The general consensus is that rates will be hiked by 0,25% on Thursday from a record low 1%.

A Standard Bank report says that the Bank of England (BoE) looks like it may be “dragged kicking and screaming to hike rates.”

The US Federal Reserve still has some time to play with, but increasingly it is being pressured around the fringes of the Board of Governors, to increase interest rates and so tighten monetary policy.

All three of the globes main central banks are now likely to be pushing in the same direction – but there is going to be a big discrepancy in the timing of these hikes.

At this stage, the US Federal Reserve is not overly concerned that higher commodity prices will translate into higher core inflation. Ben Bernanke - the US Federal Reserve Chairman, said that as long as inflation expectations remain stable and well anchored, the increase in inflation caused by higher commodity prices will be transitory.

An increase in risk aversion?

The fixed income research team from Standard Bank does not believe that at this stage higher interest rates will spark increased risk aversion.

Their reasoning is that this is only likely to happen should the US dollar enjoy a significant rally across the board. At this stage the weaker dollar is helping reserve accumulation, which in turn is helping global liquidity and so would offset any negative impact of higher interest rates.

For the prospect of higher risk aversion to play out the US dollar would need to rally against the reserve accumulating currencies – i.e. The Asian currencies – not against the euro and sterling.

On this basis they don’t think that higher US interest rates in time will negatively impact risk assets.

Using similar logic, the thinking is that higher interest rates from the ECB – which is now the consensus - may likely weaken the US dollar against the main reserve accumulating currencies and so in this sense “higher rates may lead to stronger global liquidity, not weaker liquidity.”

So far the prospect of firmer interest rates has not affected risk aversion.

Kind regards

Ian de Lange
021 9144966

Tue, 05 Apr 2011
Top News
South Africa recorded a big jump in maize exports last week, lifted by sales to Brazil and South Korea, data showed on Tuesday, and maize futures edged down as the rand held firm against the dollar.  Full story

South Africa is not against foreign investment, Business Day reported on Tuesday, amid worries that its intervention in takeover hearings involving Wal-Mart and Kansai Paint could put off investors.  Full story
Ivory Coast's Laurent Gbagbo was negotiating the terms of his departure from power on Tuesday following a fierce assault by forces loyal to his presidential rival backed by U.N. and French helicopter airstrikes.  Full story
The operator of Japan's crippled Fukushima nuclear power plant said it had reduced the flow of highly radioactive water out of a reactor, a possible sign of progress in an almost month-long battle to contain the world's biggest nuclear disaster in quarter of a century.  Full story
The International Criminal Court has evidence Muammar Gaddafi's government planned to put down protests by killing civilians before the uprising in Libya broke out, the ICC's prosecutor said on Tuesday.  Full story
U.S. stocks rose on Tuesday, led by tech shares after the proposed merger of two major semiconductor companies and an updating of a. . .  Full story
Gold jumped to an all-time high above $1,450 an ounce on Tuesday, as new peaks for crude and corn prices fanned inflation fears. . .  Full story
European shares edged up to their highest close in nearly four weeks on Tuesday, with energy firms gaining after further unrest in the. . .  Full story
Britain's top share index edged lower on Tuesday as miners fell on concerns that an interest rate hike in China could hurt demand. . .  Full story

Spot gold notched a record high on Tuesday as a downgrade of Portugal's debt stirred a bid for safety, while on Wall Street. . .  Full story
Australian shares climbed 0.3 percent on Tuesday to a six-week high as takeover activity in the resources sector and speculation of more to. . .  Full story
Silver jumped to its highest since early 1980 on Tuesday on inflation concerns, a rise in ETF holdings to another record and growing. . .  Full story
The S&P 500 met tough resistance on Monday, failing to break a level that has held since mid-February and ending flat even as. . .  Full story
SA Business
Harmony Gold, the world's fifth largest gold miner, said on Tuesday that a mine in South Africa it had shut after a fatality last week will reopen with the morning shift on Wednesday.. . .  Full story
South Africa's rand hovered near early January highs against the dollar on Tuesday and should hold its ground during the session as risky assets remain in favour with investors globally.. . .  Full story

. . .  Full story
General Motors East Africa (GMEA), Kenya's top vehicle assembler, expects sales to grow by 50 percent this year driven by demand for public. . .  Full story
Sudani, the mobile phone unit of Sudan's state-owned Sudatel telecoms company, is expanding its subscriber base and grabbing market share thanks. . .  Full story
. . .  Full story

The exodus of investors from emerging market equities that began late last year is reversing, in part due to the prospects for higher interest rates in developed economies and partly due to them. . .  Full story
Orascom Telecom (OT) has made no progress in a dispute with the Algerian government and will bring the matter to international arbitration if it is not resolved, OT's chairman said on. . .  Full story
The controlling shareholder of India's Idea Cellular is mulling a sale of its stake in the mobile carrier and has held talks with potential bidders including MTN Group , Bloomberg reported, citing sources with knowledge. . .  Full story
Company News
At the second (2nd) annual general meeting of shareholders of the company held today, Tuesday, 05 April 2011 at 10h00, all. . .  Full story
Shareholders are advised that the annual financial statements were distributed to shareholders on 04 April 2011 and contain no modifications to. . .  Full story
Alexander Scott MacDonald tendered his resignation as a CEO of Evraz Highveld Steel and Vanadium Ltd, part of the Evraz Group. . .  Full story
Resgen released a presentation to update investors on its progress with the development of the boikarabelo mine in the Waterberg region.. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0032630.86193.090.60%
JSE Top 4017:0029421.90186.660.64%
JSE Gold17:002787.6420.940.76%
JSE Financial17:0021839.55151.160.70%
JSE Industrial17:0032309.03113.380.35%
JSE Indust 2517:0027057.2798.660.37%
JSE Resource17:0058198.32474.890.82%
DJ Futures19:4012380.0037.000.30%
DJ Ind19:4512432.7732.740.26%
SP 50019:361337.224.350.33%
FTSE 10017:356007.06-9.92-0.16%
All Ords08:364998.6013.900.28%
NZSE 5007:163469.389.870.29%
NameTimeRPMove% Move
Gold/R kg20:0031370846511.51%
Brent Crude19:56121.901.871.56%
Rand / Dollar19:596.72130.00530.08%
Rand / Pound19:5510.91840.11621.08%
Rand / Euro19:559.56020.01170.12%
Rand / NZD19:585.16970.01430.28%
Rand / AUD19:556.9575-0.0068-0.10%
Yen / Dollar19:5784.69000.56000.67%
Euro / Dollar19:550.7029-0.0002-0.03%
Dollar / Euro19:571.42240.00050.04%
Pound / Dollar19:550.6136-0.0061-0.98%

Click here for the Sharenet Spot Price page
The JSE Today
Trading Statistics

Major Moves Up
SharenameSaleMove% MoveVolume
1 OANDO  3253010.17.%11001
2 CROOKES  40003008.11.%6000
3 DAWN  700446.71.%4247
4 PARACON  160106.67.%89500
5 STEFSTOCK  1145706.51.%386114
6 PSG  42002506.33.%29917
7 BELL  1345655.08.%1526
8 PPC  25831084.36.%2138092
9 URONE  28491184.32.%114479
10 FAMBRANDS  39911413.66.%166864
11 SENTULA  290103.57.%664120
12 WBHO  111792792.56.%81839
13 EXXARO  173304162.46.%1115983
14 A-V-I  3050702.35.%508423
15 CLOVER  1100252.33.%354519
16 SASOL  393858852.30.%2916820
17 RBPLAT  65451442.25.%88814
18 SABMILLER  247515412.23.%1464793
19 REINET  1160252.20.%2150026
20 ALTRON  2654542.08.%120027

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 SACOIL  178-24-11.88.%5268415
2 ONELOGIX  127-8-5.93.%13000
3 RANGOLD  275-15-5.17.%3897
4 MASONITE  2750-150-5.17.%180
5 UCS  206-9-4.19.%70856
6 ARB  307-13-4.06.%27539
7 NUWORLD  2400-95-3.81.%45493
8 WINHOLD  163-6-3.55.%1088
9 SPANJRD  385-14-3.51.%2000
10 RAUBEX  1884-51-2.64.%420187
11 ELBGROUP  1950-50-2.50.%4264
12 S-OCEAN  220-5-2.22.%19000
13 KEATON   331-7-2.07.%46700
14 COAL  950-20-2.06.%1034803
15 ZEDER  241-5-2.03.%40690
16 COMAIR  225-4-1.75.%65901
17 DORBYL  285-5-1.72.%220
18 PLATMIN  580-10-1.69.%8112
19 SUNINT  8838-152-1.69.%133612
20 BRAIT  1861-29-1.53.%48529

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 EXXARO  17330174204162.46.%1115983
2 GRANPRADE  33533551.52.%82560
3 MONDIPLCP  65366616310.48.%817393
4 SHOPRIT  1050110679-75-0.71.%2613417

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 MASONITE  27502750-150-5.17.%180

Click here for more Major Moves...

Index Summary
Index NameRPMove% Move
Top 4029,421.90186.660.64%
Mid Cap41,638.13149.830.36%
Small Cap32,136.2890.510.28%
Resource 2058,198.32474.890.82%
Industrial 2527,057.2798.660.37%
Financial 158,304.7862.900.76%
Financial & Ind. 3030,522.33154.200.51%
All Share32,630.86193.090.60%
Oil & Gas 29,853.84659.632.26%
Mining 38,044.02213.570.56%
Gold Mining2,787.6420.940.76%
Platinum Mining75.86-.21-0.28%
Oil & Gas Producers 16,051.86354.672.26%
Basic Materials 32,103.58191.290.60%
Chemicals 13,403.3382.580.62%
Forestry & Paper 14,607.1291.360.63%
Industrial Metals 31,175.79395.401.28%
Industrials 27,889.09142.190.51%
General Industrials 76,765.24-111.70-0.15%
Consumer Goods 26,350.72309.121.19%
Automobiles & Parts 3,147.60-13.58-0.43%
Household Goods158.82-1-0.40%
Health Care 31,318.12-47.92-0.15%
Beverages 84,578.871848.702.23%
Food Producers 47,141.91421.730.90%
Index NameRPMove% Move
Personal Goods 386.52.200.05%
Consumer Services 53,414.869.420.02%
General Retailers 41,338.65151.180.37%
Travel & Leisure 3,634.99-20.65-0.56%
Media 82,523.02107.780.13%
Support Services 2,439.4013.570.56%
Telecommunications 66,968.17-731.22-1.08%
Financials 21,839.55151.160.70%
Banks 41,451.63210.160.51%
Non-life Insurance 31,162.51244.920.79%
Life Insurance 16,329.97160.440.99%
General Financial 2,310.8621.250.93%
Technology 20,891.77-98.05-0.47%
SHARIAH TOP40 3,333.79170.52%
FTSE/JSE SHARIAH ALL3,383.33170.49%
COAL MINING23,655.054321.86%
FTSE JSE Fledgling 4,500.42190.41%
FTSE/JSE Alt X 1,018.8470.64%
RESOURCE 32,122.002520.79%
DIVIDEND PLUS169.2010.42%
FTSE/JSE RAFI 406,851.53430.63%
Capped Top 4015,304.77970.63%
Capped All Share16,408.48960.59%

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
NTC PREF11-04-0111-04-1911-05-03R 3.4161
TELEMASTR11-04-0111-04-1911-05-03R 0.0400
CAPITEC11-03-3011-06-1711-06-27R 2.0500
ADVTECH11-03-2811-04-1411-04-26R 0.1100
ADVTECH11-03-2811-04-1411-04-26R 0.0250
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
EFFICIENT11-03-1611-04-0111-04-11R 0.0285

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

Stock Exchange News Service
05/04/201117:40 Iquad Group Limited - Trading statement
05/04/201117:35 JD Group Limited - Update on proposed transaction with Steinhoff
05/04/201117:06 Datacentrix Holdings Limited - Voluntary trading statement
05/04/201116:14RDFIVB - Investec Warrants - Amendment to the declared interest distribution
05/04/201116:13RDFIVC - Investec Warrants - Amendment to the declared interest distribution
05/04/201115:48 Old Mutual Plc - Information update for the period up to 4 April 2011
05/04/201115:35 Jasco - Change to the board of directors
05/04/201115:18 Imuniti Holdings Limited - Change in auditors
05/04/201115:10NAI/NAN - NAIL - Advance Agterskot Payment and Dividend Declaration (No 6)
05/04/201115:00 Raubex Group Limited - Trading Statement in respect of the year ended 28
05/04/201115:00 Platmin Limited - Appointment of Mr Craig Shaw as Platmin`s new Chief
05/04/201114:44SCIB/SBR003 - The Standard Bank of South Africa Limited - Interest Rate
05/04/201114:04 Oando - Recommendation of dividend and bonus issue of ordinary shares
05/04/201113:33 Trans Hex - Resignation of a Director
05/04/201113:00 Royal Bafokeng Platinum Limited - Report on proceedings at annual general
05/04/201112:40 Nedbank Group Limited - Dealing in Securities by Non-executive Director
05/04/201112:30 Control Instruments Group Limited - No change statement and notice of
05/04/201111:46 Peregrine Holdings Limited - Voluntary announcement regarding
05/04/201111:45 Vunani Limited - Sale of Vunani`s Ordinary Shareholding and Preference
05/04/201111:35 Distell Group Limited - Dealings in Securities by a Director of a Major
05/04/201111:19 Trading of Exxaro ordinary shares on behalf of the Exxaro Resources
05/04/201111:03EXT - Extract Resources Limited - Definitive Feasibility Study demonstrates
05/04/201111:02EXT - Extract - Extension of EPL 3138
05/04/201110:53 Nedbank Group - Dealings in Securities by Executive Directors and Company
05/04/201109:44 JSE Limited - No Change Statement and Notice of Annual General Meeting
05/04/201109:19TAW/TAWA - Tawana Resources NL - Expired Options
05/04/201109:12 Oceana Group Limited - Appointment of director
05/04/201109:00 Naspers - Appointment of New CEO of MIH Holdings Limited
05/04/201109:00 Evraz Highveld Steel and Vanadium Limited - Resignation of Director and
05/04/201108:05 Resgen - Investor Presentation Update
05/04/201108:00GLD - NewGold Issuer Limited - Listing of additional Newgold Debentures
05/04/201108:00 Jubilee Platinum Plc - Cautionary announcement update
05/04/201107:30 Metorex Limited - Operational Update - quarter ended March 2011
05/04/201107:13 Gold One International Limited - March 2011 quarterly production exceeds
05/04/201107:10 British American Tobacco p.l.c - Transaction in own shares
05/04/201107:05 CoAL - Appendix 3X - Initial Director`s Interest Notice

Click here for more SENS news