Friday, 10 June 2011 - 20:00
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S.African assets fall on waning risk appetite
By Mmathabo Tladi and Stella Mapenzauswa
JOHANNESBURG (Reuters) - South African stocks slid more than one percent on Friday, dragged down by resource firms such as platinum producer Lonmin, and the rand was also weaker against the dollar mainly on global risk aversion.
The JSE Top-40 index of blue chips fell 1.76 percent to 28,809.90, hovering near the key support level of 28,000 which it has failed to breach three times since mid-March. The All-Share index lost 1.49 percent to 31,164.35.
The rand was down 0.79 percent at 6.7935 to the dollar by 1605 GMT from Thursday's close of 6.74, partly mirroring a retreat in the euro.
"The forex market has been generally soft across the CEEMEA (Central Eastern Europe Middle East & Africa) region and it has been difficult for rallies to gain momentum," said Roderick Ngotho, CEEMEA FX strategist at RBS in London.
"This is because the market is worried about a few things: one; global growth slowdown and two; periphery problems. Rand price action today is not specific to it, but is being driven by wider weak market moves."
In another sign that domestic news and data has taken a back seat in driving the currency this week, the rand barely moved soon after former finance minister Trevor Manuel ruled himself out of the running for the post of IMF chief.
Government bond prices followed the rand weaker. The yield on the 2015 bond added six basis points to 7.48 percent and that for the 2026 issue was up 7.5 basis points at 8.51 percent.
Waning risk appetite also weighed on the bourse, where steel-maker Accelor Mittal shed nearly 3 percent to 78.80 rand while Anglo American declined by a similar margin to 328.15 rand.
"The European Central Bank's bold statement yesterday that despite the Greece problem they will continue their mandate to reduce inflation made the market nervous, especially as escalating problems in the euro zone are affecting our market," said Martin Lentsoane, a trader at Newstrading.
Lonmin fell nearly 5 percent to 163.11 rand after the world's third-largest platinum producer cut its 2011 production target and warned costs would exceed earlier forecasts.
Fri, 10 Jun 2011
Rental revenue increased to R493.4 million (R446.7 million). Net profit for the year rose to R629.6 million (R479.5 million) In addition, headline earnings per unit grew to 113.22cpu (98.54cpu).
A final ordinary distribution of 79.49cpu has been declared.
The weak office cycle. . .
Revenue increased to R1.9 billion (R1.4 billion).
The results show an increase in headline earnings of 78% from R20 million in 2010 to R36 million and headline earnings per. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||27809.90||-497.20||-1.76%|
|JSE Indust 25||17:00||27240.85||-387.17||-1.40%|
|Rand / Dollar||19:59||6.7961||0.0631||0.94%|
|Rand / Pound||19:55||10.9998||0.0052||0.05%|
|Rand / Euro||19:55||9.7444||-0.0306||-0.31%|
|Rand / NZD||19:58||5.5921||0.0313||0.56%|
|Rand / AUD||19:55||7.1695||0.0067||0.09%|
|Yen / Dollar||19:59||80.2900||-0.0800||-0.10%|
|Euro / Dollar||19:55||0.6974||0.0086||1.25%|
|Dollar / Euro||19:59||1.4334||-0.0183||-1.26%|
|Pound / Dollar||19:55||0.6161||0.0055||0.90%|
Click here for the Sharenet Spot Price page
The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||30,227.92||-440.28||-1.44%|
|Oil & Gas ||26,270.34||-492.24||-1.84%|
|Oil & Gas Producers ||14,125.08||-264.67||-1.84%|
|Basic Materials ||29,050.48||-615.20||-2.07%|
|Forestry & Paper ||14,811.66||-308.47||-2.04%|
|Industrial Metals ||28,984.33||-355.65||-1.21%|
|General Industrials ||75,602.32||-433.85||-0.57%|
|Consumer Goods ||26,723.31||-512.59||-1.88%|
|Automobiles & Parts ||3,238.18||.00||0.00%|
|Health Care ||33,423.46||-195.88||-0.58%|
|Food Producers ||47,805.37||156.07||0.33%|
|Index Name||RP||Move||% Move|
|Personal Goods ||418.18||-9.99||-2.33%|
|Consumer Services ||53,046.95||-362.30||-0.68%|
|General Retailers ||40,387.76||-471.19||-1.15%|
|Travel & Leisure ||3,678.03||26.72||0.73%|
|Support Services ||2,402.62||7.22||0.30%|
|Non-life Insurance ||31,038.84||-189.14||-0.61%|
|Life Insurance ||15,633.82||-108.36||-0.69%|
|General Financial ||2,259.36||-39.15||-1.70%|
|SHARIAH TOP40 ||3,060.19||-60||-1.92%|
|FTSE/JSE SHARIAH ALL||3,131.95||-55||-1.73%|
|FTSE JSE Fledgling ||4,551.87||-22||-0.48%|
|FTSE/JSE Alt X ||1,030.55||2||0.15%|
|SA LISTED PROPERTY ||381.70||-0.67%|
|CAPPED PROPERTY ||315.90||-0.82%|
|FTSE/JSE RAFI 40||6,498.15||-109||-1.65%|
|Capped Top 40||14,538.52||-251||-1.70%|
|Capped All Share||15,716.11||-231||-1.45%|
Click here for the Sharenet Index Summary page
Latest Consensus Changes**
|NED||NEDBANK GROUP LTD||SELL||07 Jun|
|SBK||STANDARD BANK GROUP LIMIT...||SELL||07 Jun|
|AIP||ADCOCK INGRAM HLGS LD||HOLD||07 Jun|
|BTI||BRITISH AM. TOBACCO PLC||BUY||07 Jun|
|LHC||LIFE HEALTHCARE GRP HLDG ...||BUY||07 Jun||
|Expected||Company Name||Fin. Date|
|13 Jun 2011||BSI STEEL||March 2011 (Final)|
|13 Jun 2011||MIXTEL||March 2011 (Final)|
|13 Jun 2011||TELKOM||March 2011 (Final)|
|13 Jun 2011||TELKOMA||March 2011 (Final)|
|13 Jun 2011||TELKOMB||March 2011 (Final)|
|ABIL PREF||11-05-23||11-06-09||11-06-20||R 3.1000|
|TLM||TeleMasters Holdings Ltd||10/06/2011||Confirmed|
|PIK||Pick n Pay Stores Ltd||10/06/2011||Confirmed|
|PWK||Pick n Pay Holdings Ltd||10/06/2011||Confirmed|
|DCT||Datacentrix Holdings Ltd||10/06/2011||Confirmed|
|1TM||1time Holdings Ltd||10/06/2011||Confirmed||
Stock Exchange News Service
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