Thursday, 12 May 2011 - 20:00
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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 email@example.com
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.
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Thu, 12 May 2011
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. . .
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. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||28441.33||-368.91||-1.28%|
|JSE Indust 25||17:00||27444.99||-233.21||-0.84%|
|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%|
Click here for the Sharenet Spot Price page
The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||30,533.37||-328.38||-1.06%|
|Oil & Gas ||26,899.09||-424.44||-1.55%|
|Oil & Gas Producers ||14,463.14||-228.22||-1.55%|
|Basic Materials ||30,041.84||-439.56||-1.44%|
|Forestry & Paper ||14,702.73||59.35||0.41%|
|Industrial Metals ||28,237.95||-316.94||-1.11%|
|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%|
|Health Care ||31,879.51||-180.31||-0.56%|
|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%|
|Support Services ||2,380.29||-18.79||-0.78%|
|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%|
|SHARIAH TOP40 ||3,142.00||-45||-1.42%|
|FTSE/JSE SHARIAH ALL||3,202.79||-44||-1.34%|
|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%|
|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%|
Click here for the Sharenet Index Summary page
Latest Consensus Changes**
|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||
|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)|
|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||
Stock Exchange News Service
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