The Sharenet Daily 
Monday, 23 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
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)

More on the latest ETF

We discussed ETF's – exchange traded funds – last week. Today the JSE announced that approval has been granted for the listing of another variation in the ETF theme. NewFunds Collective Investment Scheme, operated by Absa Capital, which is behind the popular Newgold fund, has now also launched their new MAPPS brand.

ETF’s are gaining in popularity which may start to be self-defeating for the general public. What started off as fairly straightforward will soon see a plethora of variation and choice and hence increased complexity.

MAPPS stands for Multi-Asset Passive Portfolio Solutions. The idea has been to create a fund which can attract pension fund money. All pension investments, including retirement annuity funds must comply with the so-called regulation 28 of the Pension Fund Act.

This regulation states inter alia that a fund must have at all times a maximum of 75% invested into shares.

Their 2 funds will be the MAPPS Protect and the MAPPS Growth. The Protect portfolio will invest into underlying securities in the following ratio:

• 40% into shares that are included into the Swix 40 index
• 15% into government issued nominal bonds
• 35% into government issued inflation linked bonds
• 10% into liquid assets (money market)

While the aim is to provide investment results that will match the price and yield of this composite portfolio, the unit trust cannot guarantee this. The name “protect” may be unfortunate because there does not appear to be any specific downside protection.

According to Newfund's back testing of the fund from January 2006 to March 2006, the fund would have lost 25%.

The MAPPS Growth will access the same underlying components, but in a different ratio. This portfolio will run at the maximum allowable exposure to listed shares, i.e. 75%. The ratios will be:

• 75% into shares included in the SWIX 40 index
• 10% into government issued bonds
• 10% into government issued inflation linked bonds
• 5% into liquid assets (money market)

The Swix 40 index is the shareholder weighted total return index. It ranks shares by market capitalisation, but adjusts for the free float, therefore reducing the weighting for foreign shareholding, cross holdings and strategic holdings.

The fees start at 1%, dropping to 0,8% for investments from R1m to R5million.
While the funds will be traded on the JSE, the net asset value will be published daily.

This together with a market maker will ensure that the traded price will always be close to the sum of the underlying investments.

A fund such as this provides a ready and available benchmark for all pension funds. It definitely enhances the available options available to investors.

A few seats remaining

For investors in Cape Town wanting to join our investment presentation in the Southern Suburbs on the 7th June, please mail Myrna on

Kind regards

Ian de Lange
021 9144 966

Mon, 23 May 2011
Top News
Revenue increased slightly to R6.96 billion (R6.95 billion). Operating profit rose to R534.38 million (R519.69 million). Net attributable profit improved to R368.02 million (R355.51 million). In addition, headline earnings per share grew to 127.1cps (120.4cps). (Rainbow's financial year-end  Full story

South Africa's rand extended losses against the dollar to more than 1.7 percent on Monday, largely tracking a weaker euro, as investors pulled away from risky assets in general.  Full story
Troops recaptured a Pakistani naval air force base on Monday after a 16-hour battle with as few as six Taliban gunmen who had launched their attack to avenge the killing of Osama bin Laden.  Full story
Britain said flights could be disrupted from parts of the country on Tuesday by an ash cloud billowing from an Icelandic volcano, but said it did not expect a repeat of last year's travel chaos.  Full story
U.S. President Barack Obama sipped a pint of stout and cuddled babies on Monday as a tiny Irish village on Monday welcomed home "a long lost cousin" with an outpouring of affection.  Full story
A wave of fear that Europe's debt problems are spreading out of control hammered markets on Monday, knocking the euro to its lowest. . .  Full story
U.S. stocks fell on Monday, with major indexes falling more than 1 percent, on concerns about the euro-zone debt crisis and a slowdown. . .  Full story
European shares hit a five-week closing low on Monday as a cut in credit ratings for Greece and a "negative" outlook for Italy. . .  Full story
The price of gold climbed to its highest level in nearly two weeks on Monday after a raft of unsettling news on indebted. . .  Full story

Renewed concerns about the euro zone debt crisis triggered a steep sell-off of Britain's top shares on Monday, led by commodity stocks, with. . .  Full story
European shares fell on Monday on renewed worries about the euro zone's debt crisis, gloomy macroeconomic data and the emergence of a new. . .  Full story
Hong Kong shares slid more than 2 percent on Monday to the lowest since March after the benchmark broke below the 200-day moving. . .  Full story
Australian stocks fell almost 2 percent to an 8-week closing low on Monday as major banks took a hit on concerns their borrowing. . .  Full story
SA Business
South Africa's power utility Eskom said on Monday it has restarted construction work at its Medupi power plant after protests by. . .  Full story
South Africa's Top-40 index fell 2 percent on Monday, as investors fled riskier assets on worries about the euro zone debt. . .  Full story
South Africa's rand weakened 1 percent against the dollar in early Monday trade, largely responding to a softer euro, and government. . .  Full story
South African Pioneer Food Group posted a sharp rise in first-half profit on Monday and said it sees a tough trading. . .  Full story

South African diversified miner Exxaro bid $130 million in cash for Australia's Territory Resources, making a pricey wager to expand into iron ore. . .  Full story
South African furniture retailer Lewis plans to increase store numbers by a fifth in the next two to three years in. . .  Full story
South Africa's maize stocks fell to 2.385 million tonnes at the end of April compared with a revised 3.261 million tonnes. . .  Full story
African Bank Investments, South Africa's biggest mass-market lender, reported a 20 percent increase in first-half profit on Monday, in line with. . .  Full story
Company News
Shareholders were advised that Wescoal has entered into negotiations, which if successfully concluded, may have an effect on the price of. . .  Full story
The board of directors of AdaptIT hereby notifies its shareholders that Mr Patrick C M September who served as an independent. . .  Full story
The company hereby advises that Mr Roy McAlpine, on the attainment of his 70th birthday, has intimated to the ARM board. . .  Full story
In the 18 February 2011 circular to Mvela Resources shareholders, Mvela Resources informed its shareholders of the proposed unbundling and distribution. . .  Full story

Merchant and Marshall Monteagle Plc ("Marshall")announced that, Marshall has submitted to the board of directors of Merchant ("the Merchant board") notice. . .  Full story
Keaton shareholders are advised that a circular has been posted setting out the relevant information relating to: *the authority to be. . .  Full story
Vukile reported a 26.2% increase in net profit available for distribution for the full year to 31 March 2011 to R408.1. . .  Full story
According to Business Day, Africa Cellular Towers is optimistic that its turnaround strategy will return it to profitability over the next. . .  Full story
Company Results
Interest income on advances improved to R3.4 billion (R2.9 billion) and profit from operations increased to R1.7 billion (R1.3 billion).. . .  Full story
Revenue rose to R4.6 billion (R4.1 billion). Operating profit increased to 1.1 billion (R907.2 million) and net profit attributable to ordinary. . .  Full story
Revenue increased to R8.3 billion (R8 billion) and gross profit was stable at around R2.6 billion (R2.6 billion). Operating profit improved. . .  Full story
Group revenue increased by 11% to R1.9 billion from R1.7 billion. Operating profit improved 16% to R358 million (R308 million), while. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0031344.53-449.60-1.41%
JSE Top 4017:0028123.95-428.50-1.50%
JSE Gold17:002592.6336.071.41%
JSE Financial17:0021156.54-312.58-1.46%
JSE Industrial17:0032315.71-521.29-1.59%
JSE Indust 2517:0027180.63-477.15-1.73%
JSE Resource17:0053338.05-686.48-1.27%
DJ Futures19:5612340.00-126.00-1.01%
DJ Ind19:3512358.22-153.82-1.23%
SP 50020:001315.80-17.47-1.31%
FTSE 10017:355835.89-112.60-1.89%
All Ords08:364722.90-84.80-1.76%
NZSE 5007:323554.14-23.31-0.65%
NameTimeRPMove% Move
Gold/R kg20:00341924109263.30%
Brent Crude19:56110.21-2.50-2.22%
Rand / Dollar19:597.01280.10661.54%
Rand / Pound19:5511.26940.09640.86%
Rand / Euro19:559.85690.09480.97%
Rand / NZD19:585.54610.05801.06%
Rand / AUD19:557.38000.01970.27%
Yen / Dollar19:5881.77000.01000.01%
Euro / Dollar19:550.71180.00450.64%
Dollar / Euro19:581.4054-0.0080-0.57%
Pound / Dollar19:550.62080.00470.76%

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The JSE Today
Trading Statistics

Major Moves Up
SharenameSaleMove% MoveVolume
1 DELTA  86010013.16.%1335651
2 AFOVR-N  12501008.70.%100
3 UNIVERSAL  185105.71.%11050
4 SPANJRD  401215.53.%11040
5 KEATON   330154.76.%12941
6 DIGICOR  300103.45.%41441
7 VILLAGE  18663.33.%33934
8 URONE  2694843.22.%9643
9 SPURCORP  1390402.96.%83757
10 TRNSHEX  26262.34.%14498
11 GFIELDS  109502452.29.%1931146
12 HARMONY  93081932.12.%1232722
13 SOVFOOD  565101.80.%5300
14 WILDRNESS  570101.79.%20000
15 GRANPRADE  30051.69.%102055
16 PPC  2554341.35.%1000954
17 AVENG  3379441.32.%670859
18 DCENTRIX  45051.12.%32150
19 CERAMIC  141501501.07.%3200
20 AFRIMAT  42040.96.%103166

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Major Moves Down
SharenameSaleMove% MoveVolume
1 ALTECH  5861-539-8.42.%73700
2 FAMBRANDS  4050-331-7.56.%42324
3 REBOSIS  920-70-7.07.%165000
4 JUBILEE  333-21-5.93.%583939
5 WESIZWE  210-12-5.41.%172046
6 EXXARO  15450-850-5.21.%1364063
7 NUWORLD  1900-99-4.95.%8161
8 COAL  857-43-4.78.%508918
9 TELEMASTR  115-5-4.17.%13000
10 MERAFE  128-5-3.76.%1979835
11 NASPERSN  37938-1362-3.47.%1430036
12 JSE  6652-238-3.45.%140444
13 KUMBAIO  43100-1449-3.25.%366424
14 REDEFINTL  618-20-3.13.%335260
15 SENTULA  256-8-3.03.%49413
16 AQUARIUS  3744-115-2.98.%25180
17 ANOORAQ  559-17-2.95.%17945
18 ABIL  3320-100-2.92.%5518388
19 PALLINGHT  400-12-2.91.%38194
20 BIDVEST  14679-421-2.79.%543527

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New Highs
SharenameSaleHighMove% MoveVolume
1 AFOVR-N  125012501008.70.%100
2 SPANJRD  401401215.53.%11040
3 WILDRNESS  570570101.79.%20000
4 BATS  30825309431300.42.%1055360

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New Lows
SharenameSaleLowMove% MoveVolume
1 REBOSIS  920879-70-7.07.%165000
2 TONGAAT  88348651-216-2.39.%228153
3 BEE-SASOL  2600026000-500-1.89.%119
4 BRAIT  16371621-12-0.73.%1119043

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Index Summary
Index NameRPMove% Move
Top 4028,123.95-428.50-1.50%
Mid Cap41,075.50-405.32-0.98%
Small Cap31,832.93-237.12-0.74%
Resource 2053,338.05-686.48-1.27%
Industrial 2527,180.63-477.15-1.73%
Financial 157,977.64-130.10-1.60%
Financial & Ind. 3030,233.81-540.20-1.76%
All Share31,344.53-449.60-1.41%
Oil & Gas 26,267.76-627.86-2.33%
Mining 35,136.07-367.91-1.04%
Gold Mining2,592.6336.071.41%
Platinum Mining68.74-1.39-1.98%
Oil & Gas Producers 14,123.69-337.59-2.33%
Basic Materials 29,694.04-329.13-1.10%
Chemicals 13,621.05-65.29-0.48%
Forestry & Paper 14,548.09-153.70-1.05%
Industrial Metals 27,582.99-719.78-2.54%
Industrials 27,129.55-313.71-1.14%
General Industrials 74,542.68-1301.02-1.72%
Consumer Goods 27,268.63-442.79-1.60%
Automobiles & Parts 3,158.92-11.32-0.36%
Household Goods150.62-2-1.25%
Health Care 32,121.18-183.85-0.57%
Beverages 85.46-1.02-1.18%
Food Producers 46,131.32-767.79-1.64%
Index NameRPMove% Move
Personal Goods 428.47-9.79-2.23%
Consumer Services 52,246.02-1241.62-2.32%
General Retailers 40,044.45-716.94-1.76%
Travel & Leisure 3,617.27-41.80-1.14%
Media 83.75-2.91-3.36%
Support Services 2,405.626.590.27%
Telecommunications 67,290.35-824.33-1.21%
Financials 21,156.54-312.58-1.46%
Banks 39,447.13-702.55-1.75%
Non-life Insurance 30,313.79-446.18-1.45%
Life Insurance 15,669.39-223.21-1.40%
General Financial 2,221.77-46.19-2.04%
Technology 21,148.17-64.40-0.30%
SHARIAH TOP40 3,104.85-39-1.25%
FTSE/JSE SHARIAH ALL3,166.40-39-1.23%
COAL MINING20,988.41-996-4.53%
FTSE JSE Fledgling 4,559.6840.10%
FTSE/JSE Alt X 1,023.44-23-2.19%
CAPPED PROPERTY 309.13-0.73%
RESOURCE 29,477.10-360-1.21%
DIVIDEND PLUS164.80-3-1.78%
FTSE/JSE RAFI 406,540.43-100-1.50%
Capped Top 4014,676.60-228-1.53%
Capped All Share15,786.16-229-1.43%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
24 May 2011CROOKESMarch 2011 (Final)
24 May 2011MEDCLINMarch 2011 (Final)
24 May 2011SANTOVAFebruary 2011 (Final)
24 May 2011STEFSTOCKFebruary 2011 (Final)
24 May 2011VUKILEMarch 2011 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
CAR11-05-2011-06-0911-06-20R 0.0500
DORBYL5%P11-05-2011-06-1711-05-27R 0.0500
AECI 5.5%P11-05-2011-06-0311-06-15R 0.3121
DORBYL 5.511-05-2011-06-1711-05-27R 0.0550
AUSTRO11-05-2011-07-0811-07-18R 0.0200
Ex Div**
Share NameDec-DateLDTPay-DateAmount
ALTECH11-04-2011-05-2011-05-30R 3.5600
JSE11-03-1511-05-2011-05-30R 2.1000
FPT11-05-0611-05-2011-05-30R 0.2771
SPANJAARD11-02-2511-05-2011-05-30R 0.1600
REDEFINE11-05-0411-05-2011-05-30R 0.1600

Upcoming AGMs**
CodeCompany NameDateStatus
GNDGrindrod Ltd25/05/2011Confirmed
GNDPGrindrod Ltd25/05/2011Confirmed
CMHPCombined Motor Holdings Ltd25/05/2011Confirmed
CMHCombined Motor Holdings Ltd25/05/2011Confirmed
CMPCipla Medpro South Africa Ltd25/05/2011Confirmed

Stock Exchange News Service
23/05/201117:13MIP/MMP - Merchant/Marshall - Correction on JSE Code and ISIN
23/05/201117:10 Rainbow Chicken Limited - Reviewed abridged interim results for the twelve
23/05/201117:00 Command Holdings Limited - Results of General Meeting; and withdrawal of
23/05/201116:35 Shoprite Holdings Limited - Dealing in securities by a non-executive
23/05/201116:31 Wescoal - Cautionary announcement
23/05/201116:30 Netcare Limited - Dealings in securities by director
23/05/201116:25 Old Mutual Plc - Form 8.3
23/05/201116:05FPTIVB - Investec Warrants - Adustment to exercise price on Fountainhead
23/05/201115:40 Sappi - Sappi begins consultation process on possible closure of Adamas
23/05/201115:38 Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of
23/05/201115:30 British American Tobacco p.l.c - Notification of transactions by
23/05/201115:12 Mazor Group Limited - Changes to the board of directors
23/05/201115:08 ADAPTIT Holdings Limited - Change to the board of directors
23/05/201115:07 ARM - Retirement of director
23/05/201115:07MAPPSP - Newfunds MAPPS Protect ETF Portfolio - Listing of Newfunds MAPPS
23/05/201115:06MAPPSG - Newfunds Mapps Growth ETF Portfolio - Listing of Newfunds Mapps
23/05/201115:05 Mvelaphanda Resources Limited - Apportionment ratio of Northam
23/05/201114:30MSS/MMP - Merchant and Industrial Properties Limited/Marshall Monteagle Plc -
23/05/201114:30 Keaton Energy Holdings Limited - Circular to shareholders
23/05/201114:25 The Bidvest Group Limited - Results of the general meeting to approve
23/05/201113:51 SA French Limited - Finalisation announcement in respect of the rights
23/05/201113:35 The Bidvest Group Limited - Directors` dealings in securities
23/05/201113:03 Woolworths Holdings Limited - Dealing in securities by directors and Group
23/05/201113:02 Woolworths Holdings Limited - Purchase of shares by the company in terms
23/05/201112:58 Massmart Holdings Limited - Trading of Massmart ordinary shares on behalf
23/05/201112:16 Vukile Property Fund - Increases Annual Distribution By 9%
23/05/201112:15 Vukile Property Fund Limited - Audited condensed results and distribution
23/05/201111:37 IFA Hotels & Resorts Limited - Cautionary announcement
23/05/201111:35 Resilient Property Income Fund Limited - Dealing in securities
23/05/201111:16 Imuniti Holdings Limited - Amendment to terms of specific issue of shares
23/05/201111:09RDFIVC - Investec - Adjustment to exercise price on Redefine Income Fund Limited
23/05/201111:07RDFIVB - INVESTEC - Adjustment to exercise price on Redefine Income Fund Limited
23/05/201108:51 Capital Property Fund - Dealing in securities
23/05/201108:49 Eastern Platinum Limited - Adopts new shareholder rights plan
23/05/201108:00 SACOIL Holdings Limited - Corporate Update
23/05/201108:00GLD - NewGold Issuer Limited - Partial de-listing of Newgold debentures
23/05/201107:45 Trencor Limited - Textainer News Release
23/05/201107:30 Lonrho Plc - Placing of up to 118,000,000 new ordinary shares of the
23/05/201107:10 Exxaro Resources Limited - Exxaro cash offer to territory Resources
23/05/201107:10 British American Tobacco p.l.c - Transaction in own shares
23/05/201107:05 BHP Billiton Plc - Transaction in shares
23/05/201107:05 Super Group Limited - Trading statement
23/05/201107:05 Verimark - Summarised audited group financial results for the year ended
23/05/201107:05 Lewis Group Limited - Final audited results for the year ended
23/05/201107:05 Pioneer Food Group Limited - Unaudited condensed consolidated interim
23/05/201107:05 Reunert Limited - Reunert Limited announces the appointment of financial
23/05/201107:05 Famous Brands Limited - Audited results for the year ended 28 February
23/05/201107:05ABL/ABLP - African Bank Investments Limited - Unaudited interim results and

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