Thursday, 21 April 2011 - 20:00
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Charts
S.African rand hits 1-week high and stocks up on gold
By Phumza Macanda and Gugulakhe Lourie
JOHANNESBURG (Reuters) - South Africa's rand rose more than 1 percent against the dollar on Thursday and bonds also gained, driven largely by weakness in the greenback and higher precious metal prices.
South Africa is a major exporter of gold, which has set record highs for the fifth straight session, helping lift both the rand and the resource-heavy domestic bourse.
Gold hit $1,508.75 an ounce while the dollar was languishing near all-time lows against a basket of currencies.
Local stocks notched up a third straight day of gains, latching onto rallies in European and Asian shares.
The rand climbed to one-week highs of 6.71 to the dollar in thin trading conditions ahead of the Easter holidays. By 1520 GMT, it stood at 6.72 to the dollar, 0.9 percent stronger than Wednesday's New York close of 6.78.
"Continued dollar weakness and a strong gold price are supporting the rand," said Christopher Shiells, emerging market analyst at IGM.
The rand has firmed by more than 7 percent from its weakest level of 7.35 this year in mid-February, gains that are mainly a function of the gold price, a weaker dollar and carry trade.
Tradition Analytics said in a note that more gains are in store in the next few months on a bearish dollar outlook as monetary policy in the United States remains very loose.
The rand will have to decisively break 6.66 to target this year's high of 6.55, hit on January 3. It tried and failed to break this level early in April.
On the bourse, the JSE Top-40 index of blue chips added 0.41 percent to end at 29,457.17 and the broader All-share index rose 0.41 percent to 32,658.86.
Local markets are closed on Friday and Monday for the Easter break.
"There is going to be volatility in the market with the number of holidays next week," said a trader.
Bourse and mining heavyweight BHP Billiton gained 0.82 percent to 284.03 rand and rival miner Anglo American added 0.14 percent to 352.50 rand as copper jumped to its highest in more than a week.
Freeworld Coatings increased 3.48 percent to 11.91 rand after the board of the South African group accepted a takeover offer from Japan's Kansai Paint.
Tiger Brands was up 0.09 percent to 189.73 rand after the food and consumer group said it will buy Status trademark including finished goods from Uniliver Plc.
On fixed income, bonds gained in line with the rand. The yield on the 2015 note was down five basis points to 7.64 percent and that on the 2026 note fell 4.5 basis points to 8.655 percent.
Yields have risen this year as foreigners slow their buying of local bonds and have been largely range-bound since early March.
Analysts expect yields to rise in coming months on expectations that the central bank will start tightening monetary policy by the end of the year. But for now, bonds are getting support from the risk appetite and the rand.
Thu, 21 Apr 2011
Top News
South Africa's rand advanced to a one week high against a broadly weaker dollar on Thursday, also getting support from a record high gold price. Full story
South Africa's maize futures fell on Thursday in response to a stronger rand and Wednesday's sharp drop in Chicago corn futures, which was overnight in Johannesburg. Full story |
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Gold prices rallied to
record highs on Thursday for a fifth straight session and
silver soared, as the dollar index tumbled for a third day,
prompting investors to buy bullion as a currency hedge. Full storyLibyan government troops pounded the besieged rebel-held city of Misrata, undeterred by Western threats to step up military action against Muammar Gaddafi's forces. Full storyJapan said on Thursday it would ban anyone entering a 20-km evacuation zone around the Fukushima Daiichi nuclear plant north of Tokyo, weeks after the tsunami-wrecked facility began leaking radiation. Full story |
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Markets | European shares closed at their highest in more
than a week on Thursday as earnings from the likes of AkzoNobel and U.S.. . . Full story | | U.S. stocks rose on
Thursday as a flurry of strong earnings reports lifted big
names like Apple, but underwhelming economic data and caution
ahead. . . Full story | | The U.S. dollar sank to a
three-year low against major currencies on Thursday and gold
surged to a new high as investors piled. . . Full story | | Mixed corporate earnings
persuaded investors to consolidate recent gains as Britain's top
share index closed marginally lower on Thursday, ahead of the
long bank. . . Full story |
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| Strength in banks and commodity
stocks lifted Britain's top share index on Thursday,
consolidating a recent rally ahead of the long holiday weekend.. . . Full story | | Australian stocks rose 1.1
percent on Thursday to a 10-day closing high as investors
returned to riskier assets and energy stocks jumped on. . . Full story | | Tokyo stocks rose for a second
straight day on Thursday, helped by robust results from Apple
Inc and upbeat outlooks from other U.S.. . . Full story | | Big earnings surprises gave
a positive turn to investor sentiment on Wednesday, propelling
U.S. stocks to their best day in a month and. . . Full story |
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SA Business | South Africa's department of mineral resources (DMR) will require boards of mining companies to submit reports on health and safety, its director-general told parliament on Thursday.. . . Full story | | Miner Anglo American stuck to its production targets on Thursday despite a first quarter that saw floods and heavy rains hampering output, with coal output from its Australian operations down by. . . Full story | | South Africa's rand edged higher against the dollar on Thursday as an uptick in risk appetite kept the greenback on the ropes globally.. . . Full story |
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| Anglo American Chairman John
Parker promised shareholders he would defend the mining group
against unwanted suitors, amid speculation it could become a
target for. . . Full story | | Shares in CFC Insurance Holdings (CIH) jumped 127 percent to close at 14.80 shillings on the Nairobi Stock Exchange on its. . . Full story | | Anglo Platinum, the world's largest platinum miner, is pushing to have front-line supervisors' bonuses more closely aligned with performance to boost. . . Full story | | The board of Freeworld Coatings has accepted South Africa's competition watchdog ruling to approve Kansai 12 rand per share takeover offer. . . Full story |
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| Sentula Mining Ltd said on Thursday that it was merging its coal assets with Shanduka Resources in a 2.1 billion rand deal that will boost its black economic empowerment credentials.. . . Full story | | South Africa auctioned 3.825 billion rand worth of three-month Treasury Bills on Thursday at an average yield of 5.53 percent from 5.54 percent last Friday.. . . Full story |
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Company News | With reference to the announcement released on SENS on 12 April 2011, shareholders are advised that the special resolution relating to. . . Full story | | Sentula Mining announced that the company has entered into an agreement with Shanduka Resources as a strategic coal producer and empowerment. . . Full story | | Shareholders of the group are advised that at the AGM held on Thursday, 21 April 2011, all the resolutions set out. . . Full story | | Further to the cautionary announcement released on SENS on 4 March 2011 and its renewal on 18 April 2011, the board. . . Full story |
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| Resgen has received formal documentation from the South African Department of Mineral Resources that its Ledjadja joint venture has been granted. . . Full story | | Highlights of the quarterly review and production report for the period 1 January 2011 to 31 March 2011:
*LTIFR improved by 7%,. . . Full story | | Overview of the interim management statement and production report for the first quarter ended 31 March 2011:
*Platinum refined production increased. . . Full story | | Kumba released its production and sales report for the quarter ended 31 March 2011. Throughout the report, production and sales volumes. . . Full story |
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Company Results | Revenue for the year ended 28 February 2011 improved to R9.7 billion (R9.2 billion), but operating profit dropped to R514 million. . . Full story | | Revenue declined to R134.4 million (R149.9 million). Profit from operations increased to R13.8 million (R12.7 million) and net attributable profit rose. . . Full story | | Gross revenue rose to R510.9 million (R410.4 million). Operating profit jumped to R12.7 million (R6.7 million). Net attributable profit increased to. . . Full story | | Operating loss for the year ended 31 December decreased to GBP1 million (2010: loss of GBP1.2 million), and total comprehensive loss. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 32658.86 | 132.56 | 0.41% | JSE Top 40 | 17:00 | 29457.17 | 120.12 | 0.41% | JSE Gold | 17:00 | 2823.37 | -22.59 | -0.79% | JSE Financial | 17:00 | 21563.34 | 87.41 | 0.41% | JSE Industrial | 17:00 | 32559.84 | 93.79 | 0.29% | JSE Indust 25 | 17:00 | 27292.86 | 70.10 | 0.26% | JSE Resource | 17:00 | 58207.40 | 299.82 | 0.52% | DJ Futures | 20:00 | 12426.00 | -20.00 | -0.16% | DJ Ind | 19:41 | 12479.69 | 26.15 | 0.21% | SP 500 | 19:46 | 1335.40 | 5.04 | 0.38% | Nasdaq | 19:46 | 2814.62 | 12.11 | 0.43% | FTSE 100 | 20/04 | 6022.26 | 125.39 | 2.13% | DAX | 18:00 | 7295.49 | 46.30 | 0.64% | CAC40 | 17:46 | 4021.88 | 17.26 | 0.43% | Nikkei | 08:26 | 9685.77 | 78.95 | 0.82% | Shanghai | 09:22 | 3027.21 | 19.44 | 0.65% | Hang-Seng | 10:22 | 24138.31 | 242.21 | 1.01% | All Ords | 08:37 | 4995.70 | 55.50 | 1.12% | NZSE 50 | 06:26 | 3492.40 | 19.59 | 0.56% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1505.10 | 3.75 | 0.25% | Gold/Rand | 20:00 | 10099.97 | -81.63 | -0.80% | Gold/R kg | 20:00 | 324714 | -2711 | -0.83% | Silver | 19:59 | 46.3100 | 1.1250 | 2.49% | Platinum | 19:58 | 1812.75 | 21.60 | 1.21% | Palladium | 19:58 | 768.00 | 15.75 | 2.09% | R157 | 17:00 | 7.63 | -.02 | -0.26% | R204 | 17:00 | 8.32 | -.01 | -0.12% | Brent Crude | 19:56 | 123.87 | .35 | 0.28% | Rand / Dollar | 19:59 | 6.7105 | -0.0705 | -1.04% | Rand / Pound | 19:55 | 11.0628 | -0.0426 | -0.38% | Rand / Euro | 19:55 | 9.7702 | -0.0888 | -0.90% | Rand / NZD | 19:58 | 5.3830 | -0.0210 | -0.39% | Rand / AUD | 19:55 | 7.2158 | -0.0337 | -0.46% | Yen / Dollar | 19:59 | 81.8200 | -0.7200 | -0.87% | Euro / Dollar | 19:55 | 0.6865 | -0.0019 | -0.28% | Dollar / Euro | 19:58 | 1.4557 | 0.0040 | 0.28% | Pound / Dollar | 19:55 | 0.6046 | -0.0050 | -0.82% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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21/04/2011 | 223 | 136 | 63 | 422 | 248,156,160 | R10,902,844,838 | 78224 | 2014329 | 20/04/2011 | 229 | 108 | 61 | 398 | 330,373,534 | R13,333,978,657 | 94209 | 1985016 | 19/04/2011 | 214 | 127 | 83 | 424 | 263,324,515 | R11,531,658,381 | 100435 | 2163910 | 18/04/2011 | 86 | 275 | 70 | 431 | 309,928,429 | R13,037,551,462 | 103004 | 2255963 | 15/04/2011 | 138 | 165 | 97 | 400 | 314,291,948 | R11,231,575,882 | 92021 | 1900066 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 29,457.17 | 120.12 | 0.41% | Industrial | 32,559.84 | 93.79 | 0.29% | Mid Cap | 41,557.59 | 183.17 | 0.44% | Small Cap | 32,274.07 | 35.27 | 0.11% | Resource 20 | 58,207.40 | 299.82 | 0.52% | Industrial 25 | 27,292.86 | 70.10 | 0.26% | Financial 15 | 8,168.10 | 30.43 | 0.37% | Financial & Ind. 30 | 30,570.63 | 90.07 | 0.30% | All Share | 32,658.86 | 132.56 | 0.41% | Oil & Gas | 28,730.94 | 318.76 | 1.12% | Mining | 38,276.73 | 166.92 | 0.44% | Gold Mining | 2,823.37 | -22.59 | -0.79% | Platinum Mining | 74.73 | .98 | 1.33% | Oil & Gas Producers | 15,448.09 | 171.39 | 1.12% | Basic Materials | 32,215.80 | 139.21 | 0.43% | Chemicals | 13,437.65 | 9.25 | 0.07% | Forestry & Paper | 14,393.81 | 235.00 | 1.66% | Industrial Metals | 30,017.61 | -115.90 | -0.38% | Industrials | 27,650.01 | 60.56 | 0.22% | General Industrials | 76,430.59 | 375.26 | 0.49% | Consumer Goods | 26,982.37 | 69.91 | 0.26% | Automobiles & Parts | 3,111.37 | 20.38 | 0.66% | Household Goods | 159.52 | 1 | 0.40% | Health Care | 31,269.42 | -80.71 | -0.26% | Beverages | 83,946.69 | -297.29 | -0.35% | Food Producers | 47,803.10 | 336.38 | 0.71% |
| | Index Name | RP | Move | % Move | Personal Goods | 417.08 | 3.89 | 0.94% | Consumer Services | 53,510.17 | 91.70 | 0.17% | General Retailers | 41,370.57 | 270.22 | 0.66% | Travel & Leisure | 3,691.19 | 17.22 | 0.47% | Media | 84,682.02 | 80.37 | 0.09% | Support Services | 2,384.79 | -33.16 | -1.37% | Telecommunications | 67,982.06 | 346.28 | 0.51% | Financials | 21,563.34 | 87.41 | 0.41% | Banks | 40,419.49 | 126.25 | 0.31% | Non-life Insurance | 31,162.51 | 1311.88 | 4.39% | Life Insurance | 16,170.47 | 75.76 | 0.47% | General Financial | 2,249.41 | 11.89 | 0.53% | Technology | 20,651.53 | 832.59 | 4.20% | SHARIAH TOP40 | 3,337.31 | 17 | 0.50% | FTSE/JSE SHARIAH ALL | 3,385.28 | 17 | 0.49% | COAL MINING | 23,211.14 | 486 | 2.14% | FTSE JSE Fledgling | 4,510.65 | 64 | 1.44% | FTSE/JSE Alt X | 999.70 | 0 | 0.01% | SA LISTED PROPERTY | 372.41 | | 0.34% | CAPPED PROPERTY | 311.16 | | 0.34% | RESOURCE | 32,128.30 | 168 | 0.53% | DIVIDEND PLUS | 168.42 | 1 | 0.33% | FTSE/JSE RAFI 40 | 6,814.55 | 29 | 0.43% | Capped Top 40 | 15,299.12 | 59 | 0.39% | Capped All Share | 16,405.86 | 64 | 0.39% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | CLS | CLICKS GROUP LTD | BUY | 18 Apr | FSR | FIRSTRAND LIMITED | BUY | 15 Apr | NED | NEDBANK GROUP LTD | SELL | 15 Apr | SBK | STANDARD BANK GROUP LIMIT... | SELL | 15 Apr | AIP | ADCOCK INGRAM HLGS LD | HOLD | 15 Apr |
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Results Expected** Expected | Company Name | Fin. Date | 22 Apr 2011 | AFEAGLE | December 2010 (Final) | 22 Apr 2011 | OANDO | December 2010 (Final) | 25 Apr 2011 | IFCATECH | December 2010 (Final) | 26 Apr 2011 | OCTODEC | February 2011 (Interim) | 26 Apr 2011 | PREMIUM | February 2011 (Final) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | ALTECH | 11-04-20 | 11-05-20 | 11-05-30 | R 3.5600 | PBT | 11-04-19 | 11-05-20 | 11-05-30 | R 0.0300 | CMH | 11-04-19 | 11-06-03 | 11-06-13 | R 0.3000 | PSG | 11-04-18 | 11-05-06 | 11-05-16 | R 0.4700 | PICKNPAY | 11-04-18 | 11-06-03 | 11-06-13 | R 1.0550 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | NTC PREF | 11-04-01 | 11-04-19 | 11-05-03 | R 3.4161 | CASHBIL | 11-03-29 | 11-04-14 | 11-04-26 | R 1.5700 | SBR003 | 11-04-05 | 11-04-19 | 11-05-05 | R 1.4100 | SANLAM | 11-03-10 | 11-04-19 | 11-05-10 | R 1.1500 | NAIL | 11-04-05 | 11-04-19 | 11-05-03 | R 0.1760 |
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Upcoming AGMs** Code | Company Name | Date | Status | FCO | Foord Compass Ltd | 21/04/2011 | Unconfirmed | FCCP | Foord Compass Ltd | 21/04/2011 | Unconfirmed | FCOP | Foord Compass Ltd | 21/04/2011 | Unconfirmed | ASA | Absa Group Ltd | 21/04/2011 | Confirmed | FCPD | Foord Compass Ltd | 21/04/2011 | Unconfirmed |
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