Wednesday, 22 June 2011 - 20:00
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Charts
S.Africa's rand weaker;wage demands weigh on miners
By Phumza Macanda and Helen Nyambura-Mwaura
JOHANNESBURG (Reuters) - South Africa's rand weakened against the dollar on Wednesday as importers and the Reserve Bank were in the market buying dollars after it hit two-week highs.
The rand hit two-week highs of 6.70 to the dollar but retreated as the Reserve Bank and importers came in and pushed it to session lows of 6.7910.
By late in Johannesburg it was off lows as the greenback lost ground ahead of the Federal Reserve policy statement.
Government bonds also trimmed earlier losses that were prompted by higher-than-expected inflation data.
Platinum shares dragged local stocks lower with the bourse falling 0.6 percent as companies in the sector faced high wage demands from labour unions.
Unions are asking for double-digit wages increases as high as 20 percent at some companies, almost five times the inflation rate of 4.6 percent.
The rand was trading at 6.7629 against the dollar at 1608 GMT, 0.75 percent weaker than Tuesday's New York close of 6.7125.
"The euro's rise against the dollar ahead of the Federal Reserve has helped to lift the rand from its earlier lows," said Ion de Vleeschauwer, chief dealer at Bidvest Bank.
"If the Fed is dovish as expected, then the rand will regain some of these losses tomorrow morning."
The U.S. Federal Reserve is expected to signal that rates will remain low, which will be negative for the dollar.
Even if the rand gains a bit, it will find it tough to break resistance at 6.6750 because worries about the Greek debt crisis are keeping investors wary of going long on high risk assets.
Yields on government bonds rose, with that on the 2015 up 0.5 basis points to 7.47 percent, from a session high of 7.50 while the 2026 yield went up one basis point to 8.56 percent, from 8.60 percent.
On the bourse, the JSE Top-40 index of blue chips fell 0.64 percent to 27,475.40, bringing this month's decline to 6 percent. The All-Share index declined nearly 0.6 percent to 30,792.87.
"What's moving us down is the platinum miners' side," one trader said.
Anglo American Platinum fell 3.3 percent to 618.00 rand as the firm began tough wage negotiations with a union asking for a 20 percent pay rise for its members.
Lower global prices were another drag for miners, with Impala Platinum down 1.05 percent to 178.50 rand.
Shares of MTN, Africa's largest mobile operator, fell nearly 2 percent after the firm said January-April revenue was only marginally higher due to the effect of a stronger rand.
Johannesburg-listed shares of SABMiller also fell over 1 percent, the second straight drop, on worries the global brewer would have to cough up more than its initial $10 billion bid for Australia's Foster's Group.
Wed, 22 Jun 2011
Top News
Junior coal miners in South Africa should focus on supplying the domestic market as access to lucrative exports is likely to remain constrained for some time to come, an industry official said on Wednesday. Full story
MTN Group, Africa's largest telecom group, said on Wednesday it has topped 150 million subscribers across 21 countries, as it continues to expand in fast-growing developing markets. Full story |
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Signs of discord emerged on Wednesday in the NATO alliance over the air campaign against Libyan leader Muammar Gaddafi, as Italy said it favoured a cease-fire and political talks while France dismissed the idea. Full storyA senior U.S. official held talks on Wednesday with government officials in Yemen, which is teetering on the brink of civil war over President Ali Abdullah Saleh's refusal to meet protesters' demands to step down. Full storyDissident Chinese artist Ai Weiwei, detained since April, was released on bail on Wednesday, state media said, citing Beijing police. Full story |
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Markets | European shares fell on
Wednesday on concerns the U.S. Federal Reserve will not be able
to prop up a weakening recovery, while Philips. . . Full story | | U.S. stocks traded flat to
slightly higher on Wednesday after the Federal Reserve
acknowledged the sluggish pace of the U.S. economic recovery,
but gave. . . Full story | | Gold extended its rally
toward a record high on Wednesday, fueled by uncertainty over
Greece's debt crisis and expectations of loose global monetary
policies. . . Full story | | Britain's top share index closed
marginally lower on Wednesday, as weakness in banks offset gains
in defensive stocks with investors jostling positions ahead. . . Full story |
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| The euro inched up on Wednesday
and global stocks rose after the Greek government won a vote of
confidence, boosting risk appetite that. . . Full story | | Hong Kong shares ended little
changed on Wednesday as sustained weakness in Chinese banking
shares ate into earlier gains dragging the index back.. . . Full story | | Australian stocks trimmed
gains to close up 0.5 percent on Wednesday as interest in the
banks tapered late in the day, while a. . . Full story | | The Nikkei stock average climbed
1.8 percent on Wednesday, hitting a three-week high as
short-covering kicked in after Greece's government survived a
confidence vote. . . Full story |
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SA Business | South African freight logistics group Transnet still expects to move 70 million tonnes of export coal to port by rail in. . . Full story | | South Africa's National Union of Mineworkers said it may go on strike at diamond producer De Beers after a wage dispute.. . . Full story | | South African consumer inflation accelerated more than expected in May, boosting chances the Reserve Bank might start lifting interest rates before. . . Full story | | South African power utility Eskom said on Wednesday that construction at two new power stations was on track despite delays caused. . . Full story |
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| Belgian identification systems maker Zetes has bought South African supply chain and automatic data entry company ProScan for 5.2 million euros in cash, the group said on Wednesday.. . . Full story | | South Africa's rand touched near two-week highs against the dollar on Wednesday ahead of data likely to show an uptick in inflation, keeping alive the changes of interest rates rising by year-end.. . . Full story |
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Company News | Shareholders are advised that at the annual general meeting all the resolutions proposed at the meeting were passed by the requisite. . . Full story | | Imperial announce that Mr Roy McAlpine has retired as non-executive director of Imperial, having reached the mandatory retirement age for non-. . . Full story | | Shareholders are advised that Ideco has entered into negotiations, which if successfully concluded may have a material effect on the price. . . Full story | | Shareholders are advised that the company has entered into negotiations, which if successfully concluded, may have a material effect on the. . . Full story |
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| Shareholders are referred to the announcement published on 28 March 2011, wherein, shareholders were advised of changes to the board and executive of Grindrod Limited. John Jones resignation from the board will now become effective on 30 June 2011, as he. . . Full story | | The board of directors of Kumba announce the appointment of Mr Litha M Nyhonyha as a non-executive director of Kumba with immediate effect.. . . Full story |
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Company Results | 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 | | Revenue increased to R35.2 million (R22 million). Gross profit soared to R12.1 million (R0.8 million) and the operating loss was lower at R18.1 million (loss of R25.4 million). Net attributable profit more than doubled to R15.2 million (R6 million). In addition,. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 30792.87 | -179.01 | -0.58% | JSE Top 40 | 17:00 | 27475.40 | -178.04 | -0.64% | JSE Gold | 17:00 | 2393.30 | 26.70 | 1.13% | JSE Financial | 17:00 | 21023.68 | -176.08 | -0.83% | JSE Industrial | 17:00 | 31789.44 | -238.17 | -0.74% | JSE Indust 25 | 17:00 | 26583.33 | -234.08 | -0.87% | JSE Resource | 17:00 | 52076.99 | -174.36 | -0.33% | DJ Futures | 20:00 | 12125.00 | 29.00 | 0.24% | DJ Ind | 19:31 | 12198.34 | 8.33 | 0.07% | SP 500 | 19:42 | 1297.31 | 1.79 | 0.14% | Nasdaq | 19:42 | 2691.27 | 4.01 | 0.15% | FTSE 100 | 17:35 | 5772.99 | -2.32 | -0.04% | DAX | 18:00 | 7278.19 | -7.32 | -0.10% | CAC40 | 17:46 | 3871.37 | -5.70 | -0.15% | Nikkei | 08:26 | 9629.43 | 169.77 | 1.79% | Shanghai | 09:22 | 2648.98 | 1.30 | 0.05% | Hang-Seng | 10:28 | 21859.97 | 9.38 | 0.04% | All Ords | 08:38 | 4590.80 | 25.60 | 0.56% | NZSE 50 | 07:36 | 3457.46 | -2.11 | -0.06% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1552.47 | 5.14 | 0.33% | Gold/Rand | 20:00 | 10483.83 | 107.79 | 1.04% | Gold/R kg | 20:00 | 337055 | 4100 | 1.23% | Silver | 19:59 | 36.6630 | .2780 | 0.76% | Platinum | 19:58 | 1746.50 | 1.25 | 0.07% | Palladium | 19:58 | 766.33 | 1.83 | 0.24% | R157 | 17:06 | 7.47 | .01 | 0.07% | R204 | 17:06 | 8.25 | .01 | 0.06% | Brent Crude | 19:56 | 114.28 | 3.73 | 3.37% | Rand / Dollar | 19:59 | 6.7530 | 0.0458 | 0.68% | Rand / Pound | 19:55 | 10.8462 | -0.0305 | -0.28% | Rand / Euro | 19:55 | 9.7258 | 0.0558 | 0.58% | Rand / NZD | 19:58 | 5.5238 | 0.0743 | 1.36% | Rand / AUD | 19:55 | 7.1800 | 0.0592 | 0.83% | Yen / Dollar | 19:59 | 80.3000 | -0.0100 | -0.01% | Euro / Dollar | 19:55 | 0.6941 | -0.0001 | -0.01% | Dollar / Euro | 19:56 | 1.4399 | 0.0001 | 0.01% | Pound / Dollar | 19:55 | 0.6205 | 0.0049 | 0.80% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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22/06/2011 | 127 | 166 | 77 | 370 | 280,830,128 | R14,080,192,811 | 97803 | 1584043 | 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 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 27,475.40 | -178.04 | -0.64% | Industrial | 31,789.44 | -238.17 | -0.74% | Mid Cap | 41,620.61 | -105.07 | -0.25% | Small Cap | 31,955.34 | -45.79 | -0.14% | Resource 20 | 52,076.99 | -174.36 | -0.33% | Industrial 25 | 26,583.33 | -234.08 | -0.87% | Financial 15 | 7,879.13 | -81.32 | -1.02% | Financial & Ind. 30 | 29,587.12 | -282.99 | -0.95% | All Share | 30,792.87 | -179.01 | -0.58% | Oil & Gas | 26,408.38 | -466.86 | -1.74% | Mining | 34,121.81 | -12.52 | -0.04% | Gold Mining | 2,393.30 | 26.70 | 1.13% | Platinum Mining | 68.36 | -1.14 | -1.64% | Oil & Gas Producers | 14,199.30 | -251.02 | -1.74% | Basic Materials | 28,987.27 | -12.77 | -0.04% | Chemicals | 13,754.85 | 44.93 | 0.33% | Forestry & Paper | 14,370.65 | -93.72 | -0.65% | Industrial Metals | 29,404.26 | 45.10 | 0.15% | Industrials | 27,322.72 | -180.31 | -0.66% | General Industrials | 73,895.61 | -853.59 | -1.14% | Consumer Goods | 26,122.02 | -92.35 | -0.35% | Automobiles & Parts | 3,333.28 | -18.12 | -0.54% | Household Goods | 142.93 | -3 | -2.22% | Health Care | 33,220.95 | -541.17 | -1.60% | Beverages | 78.21 | -.89 | -1.13% | Food Producers | 47,311.67 | -114.29 | -0.24% |
| | Index Name | RP | Move | % Move | Personal Goods | 426.87 | 3.89 | 0.92% | Consumer Services | 51,663.79 | -394.93 | -0.76% | General Retailers | 39,993.33 | -120.10 | -0.30% | Travel & Leisure | 3,711.34 | 2.37 | 0.06% | Media | 81.25 | -1.29 | -1.56% | Support Services | 2,408.01 | -14.87 | -0.61% | Telecommunications | 65,720.82 | -1128.12 | -1.69% | Financials | 21,023.68 | -176.08 | -0.83% | Banks | 38,857.85 | -487.49 | -1.24% | Non-life Insurance | 31,523.82 | -242.49 | -0.76% | Life Insurance | 15,497.48 | -117.58 | -0.75% | General Financial | 2,212.75 | -22.84 | -1.02% | Technology | 21,475.68 | 241.37 | 1.14% | SHARIAH TOP40 | 3,040.28 | -17 | -0.54% | FTSE/JSE SHARIAH ALL | 3,108.45 | -16 | -0.51% | COAL MINING | 22,175.15 | -34 | -0.15% | FTSE JSE Fledgling | 4,547.79 | 60 | 1.34% | FTSE/JSE Alt X | 1,077.84 | -1 | -0.14% | SA LISTED PROPERTY | 379.95 | | 0.11% | CAPPED PROPERTY | 314.60 | | 0.01% | RESOURCE | 28,756.55 | -78 | -0.27% | DIVIDEND PLUS | 163.85 | -1 | -0.61% | FTSE/JSE RAFI 40 | 6,403.08 | -52 | -0.81% | Capped Top 40 | 14,345.27 | -102 | -0.71% | Capped All Share | 15,521.20 | -93 | -0.59% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | MDC | MEDI-CLINIC CORPORATION L... | HOLD | 19 Jun | NTC | NETCARE LIMITED | BUY | 19 Jun | NED | NEDBANK GROUP LTD | SELL | 17 Jun | SBK | STANDARD BANK GROUP LIMIT... | SELL | 17 Jun | AIP | ADCOCK INGRAM HLGS LD | HOLD | 17 Jun |
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Results Expected** Expected | Company Name | Fin. Date | 24 Jun 2011 | AVUSA | March 2011 (Final) | 24 Jun 2011 | DIAMONDCP | December 2010 (Final) | 24 Jun 2011 | FREEWORLD | March 2011 (Interim) | 24 Jun 2011 | TELEMASTR | March 2011 (Interim) | 27 Jun 2011 | NASPERS | March 2011 (Final) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | DCENTRIX | 11-06-20 | 11-07-08 | 11-07-18 | R 0.0918 | MERCHANT | 11-06-20 | 11-07-08 | 11-07-18 | R 0.1100 | MARSHALL | 11-06-15 | 11-07-01 | 11-07-15 | R 0.0150 | SBRJSEP11 | 11-06-15 | 11-09-02 | 11-09-15 | R 1.4500 | TELKOM | 11-06-13 | 11-07-01 | 11-07-11 | R 1.4500 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | CAPITEC | 11-03-30 | 11-06-17 | 11-06-27 | R 2.0500 | MRPRICE | 11-05-26 | 11-06-17 | 11-06-27 | R 1.7530 | JDGROUP | 11-05-16 | 11-06-17 | 11-06-27 | R 1.0000 | ADCOCK | 11-05-24 | 11-06-17 | 11-06-27 | R 0.8100 | HCI | 11-05-19 | 11-06-17 | 11-06-27 | R 0.6000 |
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Upcoming AGMs** Code | Company Name | Date | Status | SOH | South Ocean Holdings Ltd | 22/06/2011 | Confirmed | MTN | MTN Group Ltd | 22/06/2011 | Confirmed | ISA | ISA Holdings Ltd | 22/06/2011 | Confirmed | CRG | Cargo Carriers Ltd | 23/06/2011 | Confirmed | PNC | Pinnacle Technology Holdings Ltd | 24/06/2011 | Confirmed |
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