Monday, 30 May 2011 - 20:00
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South African rand, stocks steady in thin trade
JOHANNESBURG (Reuters) - The South African rand was little changed against the dollar in lacklustre trade on Monday due to a dearth of domestic economic news and market holidays in London and New York.
Stocks were mainly weak for most of the day but later recouped losses to close flat, helped by a rally in gold mining shares as they caught up with recent gains in gold prices.
The rand was trapped in a narrow 6.89-95 range for much of the session and traded at 6.9416 by 1602 GMT, just 0.02 percent softer than Friday's close at 6.94.
"It's been a dead quiet day; nothing to drive it on the local front, and New York and London out of the picture," a Johannesburg foreign currency dealer said.
Government bonds were also quiet, with the yield on the benchmark four-year bond dipping just half a basis point to 7.475 percent while that on the longer-dated 2026 note was unchanged from Friday's close of 8.475 percent.
Johannesburg's benchmark Top-40 index of blue-chip stocks dipped 0.05 percent to 29,127.06, while the broader All-share index gained 0.02 percent to 32,389.91.
Shares of gold miners bucked the bearish trend, with the gold index adding 1.4 percent to 2,636.37. Gold Fields led the pack, gaining over 2 percent to 112.50 rand.
"Gold shares were pretty strong because they have generally been lagging gold prices," one trader said.
Shares of Capital Shopping Centers fell 2.5 percent to 44.55 rand as the British mall owner's stock went ex-dividend, or traded without the right to its latest dividend.
Illovo Sugar lost 1.2 percent to 25.60 rand after full-year earnings shrunk by a third.
Eqstra Holdings' shares rose 3 percent to 6.27 rand after the construction and mining equipment leasing company said it expected to return to profit in the year to end-June.
Traders expected the rand to consolidate in the mid-6.90s ahead of first-quarter GDP and April credit extension data on Tuesday, which should give further pointers on the interest rate outlook.
Analysts polled by Reuters last week saw GDP growth slowing slightly to 4.2 percent on an annualised and seasonally adjusted basis from 4.4 percent in Q4 2010. Money supply and credit demand are seen nudging higher.
A weaker-than-expected economic growth number could further dent prospects of the Reserve Bank raising interest rates later this year, after loosening policy between December 2008 and December 2010.
Mon, 30 May 2011
Further to the cautionary announcement dated 12 April 2011, shareholders are advised that negotiations are still in progress with Pride Milling Company (Pty) Ltd, which, if successfully concluded may have a material effect on the price of the company's securities. Accordingly,. . .
The board is satisfied that Eqstra is trading profitably and anticipates its headline earnings per share and earnings per share, for the year ended 30 June 2011, to be at least 60 cents per share, compared to the reported loss per. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||29127.06||-14.15||-0.05%|
|JSE Indust 25||17:00||27848.97||-64.05||-0.23%|
|Rand / Dollar||19:58||6.9281||0.0120||0.17%|
|Rand / Pound||19:55||11.3968||0.0248||0.22%|
|Rand / Euro||19:55||9.9071||0.0069||0.07%|
|Rand / NZD||19:58||5.6644||0.0024||0.04%|
|Rand / AUD||19:55||7.4185||0.0010||0.01%|
|Yen / Dollar||19:58||80.9200||0.0900||0.11%|
|Euro / Dollar||19:58||0.7003||0.0014||0.20%|
|Dollar / Euro||19:58||1.4279||-0.0031||-0.22%|
|Pound / Dollar||19:55||0.6068||0.0004||0.07%|
Click here for the Sharenet Spot Price page
The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||31,101.18||-70.94||-0.23%|
|Oil & Gas ||27,488.39||-150.84||-0.55%|
|Oil & Gas Producers ||14,780.00||-81.10||-0.55%|
|Basic Materials ||30,951.17||86.47||0.28%|
|Forestry & Paper ||14,909.90||47.13||0.32%|
|Industrial Metals ||28,967.87||13.71||0.05%|
|General Industrials ||76,774.75||-51.27||-0.07%|
|Consumer Goods ||27,757.29||-55.08||-0.20%|
|Automobiles & Parts ||3,215.53||43.02||1.36%|
|Health Care ||32,845.59||257.10||0.79%|
|Food Producers ||46,961.86||-10.08||-0.02%|
|Index Name||RP||Move||% Move|
|Personal Goods ||441.45||1.79||0.41%|
|Consumer Services ||53,673.06||-134.54||-0.25%|
|General Retailers ||40,987.06||-189.26||-0.46%|
|Travel & Leisure ||3,687.27||-2.96||-0.08%|
|Support Services ||2,406.38||-1.69||-0.07%|
|Non-life Insurance ||30,920.02||-240.06||-0.77%|
|Life Insurance ||16,106.61||28.81||0.18%|
|General Financial ||2,314.79||3.15||0.14%|
|SHARIAH TOP40 ||3,232.06||1||0.03%|
|FTSE/JSE SHARIAH ALL||3,289.79||2||0.07%|
|FTSE JSE Fledgling ||4,671.01||45||0.98%|
|FTSE/JSE Alt X ||1,020.09||-13||-1.21%|
|SA LISTED PROPERTY ||376.93||0.46%|
|CAPPED PROPERTY ||314.93||-0.06%|
|FTSE/JSE RAFI 40||6,766.21||-4||-0.06%|
|Capped Top 40||15,177.99||-11||-0.07%|
|Capped All Share||16,300.09||1||0.01%|
Click here for the Sharenet Index Summary page
Latest Consensus Changes**
|NED||NEDBANK GROUP LTD||SELL||26 May|
|SBK||STANDARD BANK GROUP LIMIT...||SELL||26 May|
|AIP||ADCOCK INGRAM HLGS LD||HOLD||26 May|
|LHC||LIFE HEALTHCARE GRP HLDG ...||BUY||26 May|
|EQS||EQSTRA HOLDINGS LTD||HOLD||26 May||
|Expected||Company Name||Fin. Date|
|31 May 2011||AFBRICK||February 2011 (Final)|
|31 May 2011||BUILDMX||February 2011 (Final)|
|31 May 2011||CHROMETCO||February 2011 (Final)|
|31 May 2011||CROOKES||March 2011 (Final)|
|31 May 2011||PINPOINT||February 2011 (Final)|
|AF-OVR 6%PP||11-05-27||11-06-17||11-06-27||R 0.0600|
|REX TRUE6%||11-05-27||11-06-17||11-06-27||R 0.0600|
|MVELA RES||11-05-20||11-05-27||11-06-06||R 0.3100|
|MTL||Mercantile Bank Holdings Ltd||01/06/2011||Confirmed|
|MTLP||Mercantile Bank Holdings Ltd||01/06/2011||Confirmed||
Stock Exchange News Service
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