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Tuesday, 21 June 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.
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Charts
S.Africa's rand hits near 2-week high; stocks up
By Phumza Macanda and Mmathabo Tladi
JOHANNESBURG (Reuters) - South Africa's rand firmed against the dollar on Tuesday and local stocks climbed in line with improved sentiment in global markets on hopes that Greece could avoid a debt default.
Data showing that domestic spending growth quickened and demand for imports also contributed to a wider current account deficit was also supportive of local markets as it suggested that the local recovery was gaining momentum.
Investors were confident that the Greek government would survive a confidence vote later on Tuesday, which would help pave the way for further spending cuts and more loans to the country.
The mood was upbeat, with the JSE's benchmark Top40 index gaining 1.2 percent to 27,653.44 and the All Share-index rising 1.1 percent to 30,971.88 points.
Government bonds extended gains as foreigners were back in the market purchasing local debt. Yields fell across the curve, retreating further from multi-week highs seen last week.
The rand hit 6.72 to the dollar, its strongest since June 6. It was trading at 6.7250 by 1534 GMT, 1 percent firmer than Monday's New York close of 6.7940.
"The Greek confidence vote is expected to go well tonight and as such we have seen the euro rally and risk trades have come back on," said Brigid Taylor, chief dealer at Nedbank.
"Investors, both local and offshore buyers of bonds, were supporting the local unit."
The rand has strong resistance at 6.6750, last hit on June 6, and would have to break that level to go to the lower 6.60s.
But such a move will be tough in the next few sessions as sentiment, though favourable, remains fragile ahead of a U.S. Federal Reserve policy meeting.
In the fixed income market, the yield on the 2015 bond fell 5 basis points to 7.47 percent and the yield on the 2026 paper dropped 6.5 basis points to 8.55 percent.
A weekly auction also attracted solid demand.
"Foreigners are back in the market it's a yield story again and we do not think they are necessary going to stop buying," said Ian Scott, dealer at Stanlib.
Local stocks gained across the board, benefiting from rising risk appetite globally, with index heavyweight Anglo American rising 3 percent to 318.00 rand.
Lonmin was up 2.5 percent to 156.25 rand, while Kumba Iron Ore added 2.4 percent to 471.18 rand.
"There was a lot of positivity today with an outlook that the Greek situation may be sorted out ... I think the market is anticipating something positive out of that," said Michele Santagelo, portfolio manager at Newstrading.
"There were rebounds in the European markets and it looks like we will have a follow-through of two positive days from the U.S. markets that opened positively."
Bucking the trend was brewer SABMiller, the biggest loser on the blue-chip index, shedding 3.4 percent to 231.49 rand after Australia's largest brewer Foster's Group rejected a $10 billion takeover bid from SABMiller.
Tue, 21 Jun 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-06-21T134458Z_01_AJOE75K127000_RTROPTP_3_OZABS-SAFRICA-ECONOMY-20110621.JPG "A shopper is seen at a branch of South African retailer Pick n Pay in Johannesburg") South African spending growth quickened and demand for imports contributed to a wider current account deficit in the first quarter, suggesting recovery is taking hold and backing the case for higher interest rates. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-06-21T090107Z_01_AJOE75K0P1X00_RTROPTP_3_OZABS-SAFRICA-CACT-20110621.JPG "dollar bills are piled up after counted at the Korea Exchange Bank in Seoul") South Africa's current account deficit widened to 3.1 percent of GDP in the first quarter of 2011 from a revised 1.0 percent shortfall in the fourth quarter of 2010, the Reserve Bank said on Tuesday. Full story |
 A passenger jet slammed into the ground and caught fire while trying to land on a foggy night in northwestern Russia, killing 44 people and leaving eight survivors badly hurt, officials said on Tuesday. Full story  Syrian security forces shot dead seven people on Tuesday during clashes in two cities between President Bashar al-Assad's loyalists and protesters demanding his removal, a leading activist said. Full story  Italian Prime Minister Silvio Berlusconi overcame coalition infighting to win a vote of confidence Tuesday, his first parliamentary test since suffering two stinging electoral losses. Full story |
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Markets |
European shares rose at their
fastest pace in two months on Tuesday, bouncing from three-month
closing lows on optimism that Greece will get. . . Full story |
U.S. stocks advanced broadly
on Tuesday as optimism grew over an upcoming confidence vote by
the Greek parliament, a key hurdle for the. . . Full story |
Gold rose for a third day on
Tuesday, driven by a weaker dollar and uncertainty over the
outcome of a confidence vote in. . . Full story |
Global stocks jumped and the
euro rose on Tuesday after slipping to three-week lows last
week as investors speculated Greece will avoid a. . . Full story | |||
Britain's leading shares pushed
higher on Tuesday, led by rallying commodity stocks and banks as
investors awaited a vote of confidence in the. . . Full story |
U.S. stocks extended gains on
Tuesday as optimism over a confidence vote for Greece and
better-than-expected housing data boosted investor appetite for
equities.. . . Full story |
Australian stocks jumped 1.3
percent on Tuesday, buoyed by sharp rises in banks and miners
and a $10 billion bid for top brewer. . . Full story |
Tokyo stocks rose 1 percent for
their biggest daily gain in three weeks on Tuesday, led by auto
stocks climbing on bullish. . . Full story | ||||
SA Business |
The number of people employed in South Africa's non-agricultural sectors increased by 0.6 percent in the first quarter of 2011 compared with the fourth quarter of last year, data showed on Tuesday.. . . Full story |
South African assets were firmer in early morning trade on Tuesday as investors bet the euro zone financial crisis would find resolution and as weak global growth made local debt more attractive.. . . Full story | |||||
South Africa's Richards Bay Coal Terminal (RBCT) expects to export around 63 million tonnes of coal this year, which could only. . . Full story | Growth in spending in South Africa's economy accelerated to 8.3 percent in the first quarter of 2011 from 2.4 percent in. . . Full story | South Africa may slightly lower its May 2010-April 2011 season maize estimates as yields disappoint and heavy rains affect quality, a. . . Full story | The gold mining assets of failed South African junior miner Pamodzi Gold have been put up for sale, the provisional liquidators. . . Full story |
The strong rand has not been a threat to economic growth, South African Reserve Bank chief economist Monde Mnyande said on Tuesday.. . . Full story |
Company News |
The Gijima board announce the appointment of Ms Debbie Zwane- Chikura as Group Chief Operating Officer (COO) and executive director to the board with immediate effect.. . . Full story |
Further to the announcement released by FirstRand on 15 December 2010, shareholders are advised that the implementation of the sale by FirstRand of its 45% effective interest in OUTsurance Holdings Ltd. . . Full story |
Keaton shareholders were advised that, at the general meeting of the company held at Ground Floor, Eland House, The Braes, 3 Eaton Road, Bryanston, the ordinary resolutions relating to:
* the. . . Full story | ||||
Company Results | Revenue for the interim period ended 31 March 2011 increased to R11.8 million (2010: R11.2 million). Operating profit rose to R4.8 million (2010: R4.7 million), while profit for the period strengthened to R2.5 million (2010: R2.3 million). Furthermore, headline earnings per. . . Full story | Sales revenue for the twelve months ended 31 March 2011 increased to R12.2 billion (2010: R11.8 billion). Trading profit lowered to R659 million (2010: R841 million), but profit attributable to equity holders of the parent more than doubled to R9.7 billion. . . Full story |
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 21/06/2011 | 201 | 94 | 86 | 381 | 275,608,223 | R13,327,517,704 | 90185 | 1350406 |
| 20/06/2011 | 108 | 198 | 91 | 397 | 273,846,093 | R11,522,259,799 | 98253 | 1527867 |
| 17/06/2011 | 111 | 228 | 87 | 426 | 425,394,346 | R19,574,229,411 | 120388 | 1764295 |
| 15/06/2011 | 126 | 190 | 71 | 387 | 349,715,410 | R19,994,598,260 | 146531 | 1612249 |
| 14/06/2011 | 152 | 165 | 82 | 399 | 298,943,098 | R16,131,791,189 | 103549 | 1534012 |
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Stock Exchange News Service
| Date | Time | Headline |
| 21/06/2011 | 17:50 | Zeder Investments Limited - Disclosure of acquisition of shares in |
| 21/06/2011 | 17:33 | RBA Holdings Limited - Operational update |
| 21/06/2011 | 17:28 | FR1 - FirstRand Bank Limited - Listing of Tap Issues |
| 21/06/2011 | 17:00 | Remgro Limited - Reviewed results for the twelve months ended 31 March |
| 21/06/2011 | 16:00 | Brait S.A.,Societe Anonyme - Dealing in securities by a non-executive |
| 21/06/2011 | 15:56 | JOZI03 - The City of Johannesburg Metropolitan Municipality - Interest Rate |
| 21/06/2011 | 15:00 | AH-VEST LIMITED - Renewal of cautionary announcement |
| 21/06/2011 | 14:51 | Decillion - Renewal of Cautionary Announcement |
| 21/06/2011 | 14:34 | Gijima Group Limited - Change to the board |
| 21/06/2011 | 14:31 | CPI / CPIP - Capitec Bank Holdings Limited - Quarterly disclosure in terms of |
| 21/06/2011 | 14:17 | Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of |
| 21/06/2011 | 14:00 | FirstRand Limited - Completion of OUTsurance sale |
| 21/06/2011 | 14:00 | RMI Holdings - Completion of Outsurance Acquisition, Sale of Outsurance |
| 21/06/2011 | 13:40 | Gold Fields Limited - Dealing in securities |
| 21/06/2011 | 12:46 | Metrofile Holdings Limited - Trading Statement |
| 21/06/2011 | 12:42 | Calgro M3 Holdings Limited - Dealings in securities by directors |
| 21/06/2011 | 12:37 | RPBI - Real People Investment Holdings (Proprietary) Limited - Release of Annual |
| 21/06/2011 | 12:33 | Keaton Energy Holdings Limited - Results of general meeting |
| 21/06/2011 | 11:58 | RGT Smart Market Intelligence Limited - Salient dates of the offer |
| 21/06/2011 | 11:11 | JD Group Limited - Circular to JD Group shareholders dated 24 May 2011 |
| 21/06/2011 | 10:34 | Spanjaard Limited - Dealings in securities by a director |
| 21/06/2011 | 10:04 | GEN - General - Capricorn Investment Holdings Limited - Suspension of Listing |
| 21/06/2011 | 09:30 | Pinnacle Point Group Limited - Notice of application for business |
| 21/06/2011 | 09:19 | Goliath Gold Mining Limited - Change to the board of directors |
| 21/06/2011 | 09:08 | African Eagle Resources plc - Mid-Year Progress Report |
| 21/06/2011 | 08:48 | Pioneer Food Group Limited - Dealing in Pioneer foods shares |
| 21/06/2011 | 08:00 | SABMiller Plc - SABMiller Plc proposal to acquire Foster`s Group Limited |
| 21/06/2011 | 07:12 | BHP Billiton Plc - Transaction in shares |
| 21/06/2011 | 07:10 | British American Tobacco p.l.c.- Transaction in own shares |
| 21/06/2011 | 07:10 | SYN837 - Synthesis Funding Limited - New Financial Instrument Listing |
| 21/06/2011 | 07:05 | Trans Hex Group Limited - Renewal of cautionary announcement relating to |
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