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Friday, 08 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
S Africa rand at 3-month highs, miners up on metal prices
By Phumza Macanda and Tiisetso Motsoeneng
JOHANNESBURG (Reuters) - South Africa's rand ended the week higher against a broadly weaker dollar on Friday but the rally could run out of steam after strong gains in recent weeks.
South African assets have been boosted recently along with other emerging markets as investors grow more confident about the global economic recovery and take advantage of rock bottom interest rates in the United States and Japan to invest elsewhere.
Domestic stocks booked their third straight week of gains with miners topping the gainers' list on stronger metal prices, which were boosted by the weaker dollar and recovery optimism.
The rand has climbed to fresh 3-month peaks every session this week, hitting 6.6310 on Friday partly on the back of favourable risk appetite.
By 1520 GMT, it was trading at 6.6447 to the dollar, 0.2 percent stronger than New York's close of 6.6635.
The rand will have to break 6.62 to open up the Jan 3 high of 6.55, but such a move will be a struggle.
"There's no denying the fact that the carry play is still in favour and there could be more gains in coming weeks especially if you look at the dollar which is being hammered," said Ion de Vleeschauwer, chief dealer at Bidvest.
"But it wll be tough to gain further and I expect it to find resistance in the 6.60 area," de Vleeschauwer said
The carry trade involves borrowing where interest rates are low and using funds raised to invest in higher-yielding assets.
Against the euro the rand has been rangebound, last trading at 9.58, off 3-month highs of 9.41 seen last week.
Reserve Bank Deputy Governor Daniel Mminele said late on Thursday the bank would continue building reserves but was not targeting a level for the exchange rate.
He said speculation among some analysts that the bank was comfortable with rand gains that are helping contain inflation were "misplaced".
Bonds strengthened in line with the rand taking yields to their lowest since late-February. Bonds will not likely sustain these gains mainly due to inflation concerns, analysts said.
The yield on the 2015 bond was down three basis points to 7.68 percent and that on the 2026 paper fell seven basis points to 8.625 percent.
On the bourse, Johannesburg's Top-40 blue-chip index added 0.58 percent to 29,561.08 points and the broader All-share index was up 0.53 percent at 32,806.27.
"The dollar is bit weaker and commodity prices are right up there but I think there's still an underlying nervousness in the market," one Johannesburg-based trader said.
"Libya is still a concern, Japan is still a concern and Europe is still struggling with debt. So this positive mood is fragile."
Violence in Libya, political unrest in North Africa and the Middle East, and Japan's March 11 earthquake had eroded confidence in commodities perceived as risky such as base metals.
But optimism in global economic growth has since returned, lifting world shares to their highest level in more than three years, and leading to gains in commodities.
Among equity movers, Anglo American climbed 2.79 percent to 362.85 rand and rival BHP Billiton was 2.04 percent better at 280.70 rand.
Copper rose about 2 percent to its highest level in a month as a weaker dollar and expectations for increasing demand boosted investor sentiment.
Elsewhere, Evraz Highveld Steel edged down 0.88 percent to 67.89 rand, after the steel maker said hot metal fell 8 percent in the first quarter.
Metorex lost 0.7 percent to 7.05 rand even after Brazil's Vale offered to buy the base metal miner for 7.5 billion rand, or 7.35 rand per share.
Fri, 08 Apr 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-04-08T172035Z_01_AJOE7371C6D00_RTROPTP_3_OZABS-WALMART-20110408.JPG "Shopping carts are seen outside a Wal-Mart Supercenter in Coolidge") Wal-Mart Stores is committed to working with South African suppliers, it said on Friday, amid worries its acquisition of a 51 percent stake in Massmart would expose Africa's biggest economy to cheap imports. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-04-08T150357Z_01_AJOE73715UN00_RTROPTP_3_OZABS-TRANSNET-COAL-20110408.JPG "Labourer searches for usable coal at a cinder dumpsite in Changzhi") South Africa's freight logistics group Transnet will on Friday reopen the remaining line linking the coal mines with the Richards Bay export terminal closed last week after a derailment. Full story |
 With a midnight deadline approaching, the White House and U.S. Congress scrambled on Friday to break a budget impasse that threatens to shut down the government and idle thousands of federal workers. Full story  Israeli air strikes and shelling killed nine Palestinians in the Gaza Strip Friday, with no end in sight to an Israeli operation against Hamas Islamists in retaliation for a rocket attack on an Israeli school bus. Full story  Japan expects to stop pumping radioactive water into the sea from a crippled nuclear plant on Saturday, a day after China expressed concern at the action, reflecting growing international unease at the month-long nuclear crisis. Full story |
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Markets |
Higher commodity prices drove
a bid for materials and energy stocks in an otherwise
lackluster session on Friday, ahead of the start of. . . Full story |
Gold rose to a record high
for a fourth straight day and silver surged on Friday, as a
weaker dollar, the prospect of. . . Full story |
European shares set a five-week
closing high on Friday, led by miners tracking stronger metal
prices and investors positioning themselves for an expected
positive. . . Full story |
Oil rose above $125 a barrel
on Friday to its highest since August 2008 on concerns of
long-term supply cuts, while expectations of. . . Full story | |||
Britain's top share index
notched up a third week of gains and the highest close since
mid-February after rising metals prices and deal-making. . . Full story |
Australian stocks climbed 0.7 percent on Friday
to end near a one-year high, led by energy and healthcare stocks as investors
overcame jitters. . . Full story |
The euro rose to a near
15-month high against the dollar on Friday on the single
currency's widening yield advantage, while oil surged. . . Full story |
Gold struck a record high on
Friday, and silver hit $40 an ounce for the first time since
1980, as a weaker dollar. . . Full story | ||||
SA Business |
South Africa's power supply is likely to remain tight for the next five years, creating a risk for Africa's largest economy. . . Full story |
South Africa needs to build its savings base to decrease reliance on foreign capital, Finance Minister Pravin Gordhan said on Friday.. . . Full story |
Gold Fields said on Friday that its attributable group production for the March quarter was expected to decline from the previous. . . Full story |
South Africa's rand rose against the dollar on Friday, supported by data showing the domestic economic recovery is on track and. . . Full story | |||
Brazil's Vale, the world's largest iron ore producer, bid $1.1 billion for Metorex Ltd to tap into its copper and cobalt. . . Full story | Brazil's President Dilma Rousseff will
travel to China next week for a 5-day visit during which she
will push for a series of. . . Full story | South African power utility Eskom said on Friday it had no plans for a new foreign bond issue at present.. . . Full story | South Africa's Karoo, a vast arid wilderness, may contain gas reserves that could solve the country's energy problems -- but only. . . Full story |
Many investors are overlooking growth opportunities in Africa where some fast-growing economies offer potentially lucrative investments in infrastructure, telecommunications and agriculture, a top World Bank official said on Thursday.. . . Full story | Two Rusian firms have agreed to participate in South Africa's 15 billion rand rare metals processing complex, Business Day Newspaper reported on Friday.. . . Full story | South Africa's Reserve Bank will base policy action on an assessment of second-round effects of higher oil and food prices on inflation, deputy Governor Daniel Mminele said on Thursday.. . . Full story |
Company News |
Headline earnings per share ("HEPS") from both continuing and discontinued operations is expected to be between 30% and 35% lower than that reported for the financial year ended 28 February 2010. . . Full story |
Following the practice of the holding company, Evraz Group SA, to release quarterly operational information, Evraz Highveld released its first quarter operational results. the results can be found on the company's. . . Full story |
Business Day reported that Imperial will distribute Mitsubishi vehicles in South Africa from June. Imperial said the group will now be allowed to import and wholesale Mitsubishi products such as the. . . Full story | ||||
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 08/04/2011 | 200 | 144 | 81 | 425 | 335,609,147 | R15,198,842,076 | 116888 | 1809367 |
| 07/04/2011 | 140 | 205 | 84 | 429 | 260,190,578 | R13,173,671,789 | 109418 | 2075935 |
| 06/04/2011 | 242 | 109 | 70 | 421 | 290,764,685 | R13,563,693,754 | 106565 | 1929190 |
| 05/04/2011 | 219 | 132 | 78 | 429 | 251,738,134 | R10,439,040,904 | 78531 | 1807082 |
| 04/04/2011 | 197 | 145 | 73 | 415 | 219,118,224 | R9,815,944,176 | 89949 | 1694363 |
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Major Moves Down
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Index Summary
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Stock Exchange News Service
| Date | Time | Headline |
| 08/04/2011 | 17:39 | Metorex Limited - Directors` dealings in securities |
| 08/04/2011 | 17:00 | African Rainbow Minerals Limited - Director`s dealings in ARM securities |
| 08/04/2011 | 16:23 | Hyprop Investments Limited - Hyprop`s Proposed Acquisition of 100% of the |
| 08/04/2011 | 16:20 | Astrapak Limited - Trading statement financial year ended 28 February 2011 |
| 08/04/2011 | 16:19 | William Tell Holdings Limited - Receipt of third payment in respect of DTI |
| 08/04/2011 | 15:37 | WG Wearne Limited - Update relating to Portland disposal, creditors` |
| 08/04/2011 | 15:21 | IFA Hotels & Resorts Limited - Notification of share dealing by directors |
| 08/04/2011 | 15:14 | ASA/ABSP - Absa Group/Absa Bank - Notice Of Dealings in securities in terms of |
| 08/04/2011 | 15:00 | Exxaro - Acceptance Of Conditional Awards Released in terms of the Exxaro |
| 08/04/2011 | 14:46 | MNDNIF - Nedbank - Dividend distribution announcement in relation to the MND |
| 08/04/2011 | 14:45 | MNPNIF - Nedbank - Dividend distribution announcement in relation to the MNP |
| 08/04/2011 | 14:38 | Vunani Limited - Cautionary announcement |
| 08/04/2011 | 14:35 | Metorex Limited - Joint announcement of a firm intention by Vale to make |
| 08/04/2011 | 13:10 | Anglo American Plc - Treasury Shares - Transfers |
| 08/04/2011 | 13:00 | Evraz Highveld Steel and Vanadium Limited - First quarter ending 31 March |
| 08/04/2011 | 12:09 | Ellies - Change to the board of Directors |
| 08/04/2011 | 12:05 | CLR - Clover Industries Limited - Clover to exclusively merchandise all Danone |
| 08/04/2011 | 11:44 | Nedbank Group - Dealing in Securities by Non-executive Director |
| 08/04/2011 | 11:42 | Vividend - Condensed Unaudited Consolidated Interim Financial Statements |
| 08/04/2011 | 11:29 | Moneyweb Holdings Limited - Changes to the board |
| 08/04/2011 | 11:22 | Ububele Holdings Limited - Renewal of cautionary announcement |
| 08/04/2011 | 11:17 | O-line Holdings Limited - Revised pro forma financial effects and |
| 08/04/2011 | 11:15 | Aspen Pharmacare Holdings Limited - Dealing in securities by director of |
| 08/04/2011 | 10:33 | Rare Holdings Limited - Role of Company Secretary |
| 08/04/2011 | 10:12 | Bidvest - Directors` dealings in securities |
| 08/04/2011 | 10:05 | BHP Billiton Plc - Market price for the off-market buy-back of BHP |
| 08/04/2011 | 09:52 | William Tell Holdings Limited - Appointment of non-executive director and |
| 08/04/2011 | 09:04 | SacOil - SacOil commences trading on Alternative Investment Market |
| 08/04/2011 | 08:09 | Gold Fields Limited - Media Release |
| 08/04/2011 | 08:00 | GLD - NewGold Issuer Limited - Listing of additional Newgold debentures |
| 08/04/2011 | 07:54 | NEDB - Nedbank Limited - Issue of share instalments |
| 08/04/2011 | 07:10 | British American Tobacco p.l.c - Transaction in own shares |
| 08/04/2011 | 07:05 | Phumelela Gaming and Leisure Limited - The Group`s unaudited condensed |
| 08/04/2011 | 07:05 | Gold One International Limited - Appendix 3B new issue announcement, |
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