Thursday, 12 May 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
No Change from MPC With Gill Marcus being the Governor of the South African Reserve Bank ( SARB ) for nearly a year and a half now, investors have had a chance to get an idea of how she runs South Africa’s monetary policy. Today she announced that there would be no change in the Repo rate, and that it would remain at 5.5%. Prime remains at 9%.
At this point in the cycle, it was fairly obvious to all interested parties that interest rates wouldn’t be changed. Even though there was no change in rates, this doesn’t mean that there was no interest from the public. Interested parties would have been keenly listening to any hints as to when the Governor thinks rates will start to move again. Markets are forward looking, so any indication of future moves would be beneficial to an investor that could position his/her portfolio before the rest of the market.
Some key observations:
• Inflation is rising and the SARB expects it to peak above the target maximum (of 6%) at 6.3% in the first quarter of 2012.
• Food and energy increases are the main inflationary culprits.
• Inflation is currently ‘cost push’ and not ‘demand pull’. There haven’t been any second round effects of inflation yet.
• Rand is volatile, but remains strong.
• Economic growth forecast for 2011 dropped from 3.7% to 3.6% (not a large change).
• Construction sector and consumers remain under pressure.
• Wage settlements are way in excess of current inflation.
At the question and answer session after the statement of the Monetary Policy Committee (MPC) Ms Marcus indicated that there had been no discussion or suggestion that now was the time to increase rates. She also mentioned that while there is no discussion yet of changing rates, they do closely monitor a variety of indicators to help them in their decision.
The MPC has an overriding inflation targeting objective, but do have some discretion to ensure that their policy guides sustainable growth. With many indicators showing that growth isn’t yet buoyant, the MPC will in all likelihood err on the side of caution when deciding on the right time to raise interest rates.
For updates on MPC statements and other economic indicators become a Fan of our Facebook page by clicking here and ‘Liking’ Seed Investment Consultants.
Take care,
Mike Browne
info@seedinvestments.co.za
www.seedinvestments.co.za
021 9144 966
Thu, 12 May 2011
Top News
South Africa's rand reversed its losses against the dollar on Thursday and bonds weakened after hawkish comments from the central bank. Full story
The South African Reserve Bank left its repo rate unchanged at 5.5 percent on Thursday but emphasised the deteriorating inflation outlook, raising the chance of an earlier-than-expected rate increase. Full story |
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Oil prices rebounded on
Thursday, spurring relief across markets that a deep sell-off
in commodities could be nearing an end and pulling riskier
investments such as stocks off earlier lows. Full storyNATO bombed Muammar Gaddafi's compound on Thursday, hours after the Libyan leader ended doubt about his fate by making his first television appearance since another air strike killed his son nearly two weeks ago. Full storyHundreds of people queued for food aid in the Spanish town of Lorca and wandered the streets wrapped in blankets Thursday after an earthquake killed eight people and injured more than 120. Full story |
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Markets | Gold and silver prices fell on
Thursday as the commodities sector sold off for a second
straight day on global demand worries, but. . . Full story | | European share prices mostly
ended lower on Thursday and analysts said the market could be
prone to further declines as a sell-off in. . . Full story | | U.S. stocks recovered from
initial declines on Thursday in a choppy session as commodity
prices kept the market in flux while a downgrade. . . Full story | | Britain's FTSE 100 was rattled on
Thursday as global growth concerns triggered a fall in
commodity-linked stocks and boosted appetite for defensive
assets.
Miners. . . Full story |
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| European shares fell on Thursday,
with heavyweight miners and oil majors hit by a sharp sell-off
in commodity prices on the back of. . . Full story | | Hong Kong and China shares
fell on Thursday as the resources sector suffered from another
selloff in commodities, while a jump in Internet. . . Full story | | Australian shares fell 1.8
percent on Thursday, with major miners and top banks plunging
alongside falling copper prices on signs China's demand for
resources. . . Full story | | Tokyo stocks fell on Thursday, led
by declines in energy and commodity shares after sharp overnight
falls in commodities prices, offsetting a strong. . . Full story |
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SA Business | South Africa's maize and wheat futures fell on Thursday, tracking international prices as concerns over supplies eased, but a weaker rand. . . Full story | | South Africa's rand tumbled to an eight-week low against the dollar on Thursday, weighed down by a weakeness in the euro. . . Full story | | South Africa's gold output rose 0.6 percent in volume terms in March while total mineral production fell 1.4 percent compared with. . . Full story | | South Africa's rand dipped to its weakest level in seven weeks on Thursday, tracking a retreat among other commodity currencies and. . . Full story |
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| South Africa's power utility Eskom said on Thursday it would likely restart construction next week at its Medupi and Kusile power plants, which were shut following protests.. . . Full story | | Greek refrigerator equipment
maker Frigoglass said first-quarter net profit rose 85
percent, helped by robust growth in Europe.. . . Full story | | Eastern Platinum Ltd posted a quarterly loss on lower output and the Canadian company said its flagship Crocodile River Mine project in South Africa was damaged following a wage dispute with. . . Full story |
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Company News | UCS shareholders and BCX shareholders ("Shareholders") are referred to the announcements published by the companies on SENS and the circulars to. . . Full story | | At the annual general meeting of Old Mutual plc held in London earlier today, all of the resolutions set out in. . . Full story | | Further to the trading statement published on SENS on 11 March 2011, the board wished to revise its prior trading statement.. . . Full story | | Merchant and Marshall Monteagle PLC ("Marshall') shareholders were advised that both companies have entered into discussions which, if successfully concluded, may. . . Full story |
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| The 2011 Annual General Meeting ("AGM") of Old Mutual plc will take place this morning at 11.00 am BST at Old Mutual's office at Old Mutual Place, 2 Lambeth Hill, London EC4V 4GG. The proceedings will be webcast and can be. . . Full story | | Unless otherwise stated, the figures given throughout this document are for the three months to 31 March 2011 (the "period") and comparative figures are for the same period in 2010 (the "comparative period"). Comparative figures presented in GBP sterling are on. . . Full story |
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Company Results | Revenue increased to R7.8 billion (R7.5 billion) but operating profit plummeted to R298 million (R1.1 billion). Profit for the period attributable. . . Full story | | Turnover rose by 9.1% to R19.1 billion (R17.5 billion). Gross profit increased to R1.5 billion (R1.4 billion) and operating profit improved. . . Full story | | Revenue increased from USD3.7 billion to USD4.3 billion in 2011.Gross profit grew to USD597.6 million (2010:USD498.4 million), while operating profit increased. . . Full story | | Revenue grew to USD1.5 billion (USD1.1 billion) and gross profit rose to USD498 million (USD301 million). Operating profit jumped to USD363. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 31681.83 | -369.52 | -1.15% | JSE Top 40 | 17:00 | 28441.33 | -368.91 | -1.28% | JSE Gold | 17:00 | 2531.61 | -28.77 | -1.12% | JSE Financial | 17:00 | 21308.74 | -248.11 | -1.15% | JSE Industrial | 17:00 | 32655.59 | -261.51 | -0.79% | JSE Indust 25 | 17:00 | 27444.99 | -233.21 | -0.84% | JSE Resource | 17:00 | 54056.05 | -867.86 | -1.58% | DJ Futures | 19:50 | 12665.00 | 95.00 | 0.76% | DJ Ind | 19:31 | 12696.75 | 66.72 | 0.53% | SP 500 | 20:00 | 1348.68 | 6.60 | 0.49% | Nasdaq | 20:00 | 2860.65 | 15.59 | 0.55% | FTSE 100 | 17:35 | 5944.96 | -31.04 | -0.52% | DAX | 17:56 | 7443.95 | -51.10 | -0.68% | CAC40 | 17:40 | 4023.29 | -34.79 | -0.86% | Nikkei | 08:32 | 9716.65 | -147.61 | -1.50% | Shanghai | 09:22 | 2845.11 | -38.78 | -1.34% | Hang-Seng | 10:22 | 23073.76 | -218.04 | -0.94% | All Ords | 08:38 | 4776.60 | -81.60 | -1.68% | NZSE 50 | 07:36 | 3540.31 | -18.56 | -0.52% |
| | Name | Time | RP | Move | % Move | Gold | 19:58 | 1506.89 | 7.45 | 0.50% | Gold/Rand | 20:00 | 10375.39 | 67.60 | 0.66% | Gold/R kg | 20:00 | 333569 | 501 | 0.15% | Silver | 19:58 | 35.2950 | .2000 | 0.57% | Platinum | 19:58 | 1765.25 | -4.85 | -0.27% | Palladium | 19:58 | 718.50 | 4.17 | 0.58% | R157 | 17:06 | 7.61 | .01 | 0.13% | R204 | 17:06 | 8.27 | -.02 | -0.18% | Brent Crude | 19:56 | 113.57 | .69 | 0.61% | Rand / Dollar | 19:58 | 6.8853 | 0.0100 | 0.15% | Rand / Pound | 19:55 | 11.2134 | -0.0008 | -0.01% | Rand / Euro | 19:55 | 9.8372 | 0.0711 | 0.73% | Rand / NZD | 19:58 | 5.4955 | 0.0635 | 1.17% | Rand / AUD | 19:55 | 7.3705 | 0.0085 | 0.12% | Yen / Dollar | 19:58 | 80.8900 | -0.2900 | -0.36% | Euro / Dollar | 19:57 | 0.7011 | -0.0032 | -0.45% | Dollar / Euro | 19:57 | 1.4266 | 0.0069 | 0.49% | Pound / Dollar | 19:55 | 0.6129 | 0.0017 | 0.28% |
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Click here for the Sharenet Spot Price page
The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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12/05/2011 | 83 | 236 | 79 | 398 | 264,465,126 | R13,048,737,068 | 96422 | 1997646 | 11/05/2011 | 159 | 181 | 85 | 425 | 282,588,135 | R15,255,496,872 | 110989 | 2238489 | 10/05/2011 | 242 | 93 | 75 | 410 | 302,922,569 | R13,330,206,641 | 95876 | 2205012 | 09/05/2011 | 101 | 215 | 83 | 399 | 259,926,692 | R11,583,856,625 | 86689 | 2411707 | 06/05/2011 | 200 | 122 | 82 | 404 | 290,202,791 | R13,147,874,941 | 98047 | 2592891 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 28,441.33 | -368.91 | -1.28% | Industrial | 32,655.59 | -261.51 | -0.79% | Mid Cap | 41,382.93 | -171.45 | -0.41% | Small Cap | 32,169.44 | -216.39 | -0.67% | Resource 20 | 54,056.05 | -867.86 | -1.58% | Industrial 25 | 27,444.99 | -233.21 | -0.84% | Financial 15 | 8,049.86 | -108.69 | -1.33% | Financial & Ind. 30 | 30,533.37 | -328.38 | -1.06% | All Share | 31,681.83 | -369.52 | -1.15% | Oil & Gas | 26,899.09 | -424.44 | -1.55% | Mining | 35,525.29 | -553.32 | -1.53% | Gold Mining | 2,531.61 | -28.77 | -1.12% | Platinum Mining | 70.19 | -.53 | -0.75% | Oil & Gas Producers | 14,463.14 | -228.22 | -1.55% | Basic Materials | 30,041.84 | -439.56 | -1.44% | Chemicals | 13,896.03 | -73.06 | -0.52% | Forestry & Paper | 14,702.73 | 59.35 | 0.41% | Industrial Metals | 28,237.95 | -316.94 | -1.11% | Industrials | 27,317.70 | -275.96 | -1.00% | General Industrials | 75,307.30 | -677.60 | -0.89% | Consumer Goods | 27,524.67 | -246.48 | -0.89% | Automobiles & Parts | 3,156.66 | -2.26 | -0.07% | Household Goods | 153.61 | -3 | -2.07% | Health Care | 31,879.51 | -180.31 | -0.56% | Beverages | 85.73 | -1.07 | -1.23% | Food Producers | 47,077.74 | -191.22 | -0.40% |
| | Index Name | RP | Move | % Move | Personal Goods | 433.96 | -1.70 | -0.39% | Consumer Services | 53,326.19 | -339.20 | -0.63% | General Retailers | 41,233.73 | -170.48 | -0.41% | Travel & Leisure | 3,702.16 | -10.62 | -0.29% | Media | 84.91 | -.69 | -0.81% | Support Services | 2,380.29 | -18.79 | -0.78% | Telecommunications | 67,580.49 | -591.62 | -0.87% | Financials | 21,308.74 | -248.11 | -1.15% | Banks | 39,711.43 | -474.79 | -1.18% | Non-life Insurance | 32,193.10 | -58.19 | -0.18% | Life Insurance | 15,912.49 | -241.70 | -1.50% | General Financial | 2,244.13 | -48.34 | -2.11% | Technology | 21,043.47 | -119.52 | -0.56% | SHARIAH TOP40 | 3,142.00 | -45 | -1.42% | FTSE/JSE SHARIAH ALL | 3,202.79 | -44 | -1.34% | COAL MINING | 22,280.41 | -582 | -2.55% | FTSE JSE Fledgling | 4,511.18 | -13 | -0.30% | FTSE/JSE Alt X | 1,014.77 | 12 | 1.16% | SA LISTED PROPERTY | 368.49 | | -0.09% | CAPPED PROPERTY | 309.05 | | -0.20% | RESOURCE | 29,853.07 | -466 | -1.54% | DIVIDEND PLUS | 167.62 | -1 | -0.80% | FTSE/JSE RAFI 40 | 6,614.68 | -83 | -1.24% | Capped Top 40 | 14,833.64 | -185 | -1.23% | Capped All Share | 15,951.49 | -181 | -1.12% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | RBP | ROYAL BAFOKENG PLATINUM L... | HOLD | 09 May | ARQ | ANOORAQ RESOURCES CORPORA... | BUY | 09 May | AMS | ANGLO AMERICAN PLATINUM C... | HOLD | 09 May | LON | LONMIN PLC | HOLD | 09 May | SPP | THE SPAR GROUP LTD | HOLD | 09 May |
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Results Expected** Expected | Company Name | Fin. Date | 13 May 2011 | INDEQTY | March 2011 (Interim) | 13 May 2011 | INDEQTYP | March 2011 (Interim) | 13 May 2011 | INDEQTYPA | March 2011 (Interim) | 13 May 2011 | INDEQTYPB | March 2011 (Interim) | 16 May 2011 | ASTRAL | March 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | OCEANA | 11-05-11 | 11-06-24 | 11-07-04 | R 0.3700 | SPAR | 11-05-11 | 11-06-03 | 11-06-13 | R 1.4200 | OASIS | 11-05-11 | 11-05-27 | 11-06-03 | R 0.4616 | DATATEC | 11-05-11 | 11-07-01 | 11-07-11 | R 0.1300 | LIFEHC | 11-05-10 | 11-05-27 | 11-06-06 | R 0.1100 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | OCTODEC | 11-04-26 | 11-05-12 | 11-05-23 | R 0.6500 | PREMIUM | 11-04-26 | 11-05-12 | 11-05-23 | R 0.5820 | PSG | 11-04-18 | 11-05-06 | 11-05-16 | R 0.4700 | AFGRI | 11-03-02 | 11-05-12 | 11-05-23 | R 0.2415 | BRIMSTON | 11-02-22 | 11-05-06 | 11-05-16 | R 0.1500 |
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Upcoming AGMs** Code | Company Name | Date | Status | WKF | Workforce Holdings Ltd | 12/05/2011 | Confirmed | EHS | Evraz Highveld Steel and Vanadium Ltd | 13/05/2011 | Confirmed | LBHP2 | Liberty Holdings Ltd | 13/05/2011 | Confirmed | LBHP | Liberty Holdings Ltd | 13/05/2011 | Confirmed | LBH | Liberty Holdings Ltd | 13/05/2011 | Confirmed |
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