Friday, 24 June 2011 - 20:00
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Charts
S.Africa's bonds up on foreign buying, rand weak
By Phumza Macanda and Helen Nyambura-Mwaura
JOHANNESBURG (Reuters) - South Africa's stocks were up more that one percent while bonds gained as foreigners bought local debt, attracted by higher yields.
Despite offshore interest in bonds, the rand recorded its biggest weekly loss in six weeks. It was on the back foot partly due to Reserve Bank buying of foreign exchange.
It will likely keep its weaker tone as worries that Greece might not pass austerity measures needed for the country to secure loans kept investors hesitant to pile on risky assets.
A heavy sell-off in the previous session attracted bargain hunters, with the blue-chip Top-40 index up 1.4 percent to 27,391.89 -- its highest daily gain in almost a month.
Yields on local bonds fell to multi-week lows on the short end. The yield on the 2015 bond hit two week lows at 7.425 percent and was last at 7.43 percent. The 2026 yield fell 7.5 basis points to 8.545 percent.
Undeterred by a generally negative sentiment towards risky assets, foreigners had bought 1.7 billion rand worth of local bonds by end Thursday.
"I think the buying has a lot to do with our debt metrics, which are better than Europe's. They are happy about our economy and our deficit," said a bond dealer.
"There's also a good spread over the U.S. tenure," he added.
South Africa's budget deficit widened to 5.0 percent of GDP in 2010/11 with plans to trim it to around 4.0 percent in the next three years. Moody's said on June 9 there was little to put downward pressure on sovereign ratings right now.
The spread between the 10 year benchmark and its U.S. equivalent has widened by 29 basis points since the beginning of June to 5.161 percent. Just on Friday, it narrowed by four basis points as foreigner bought local debt.
RAND ON BACK FOOT
The risk aversion prevailing in global markets added to the rand woes, as the currency was already under pressure from central bank buying since it hit two-week highs at 6.70 earlier this week.
By 1556 GMT, the rand was trading at 6.89 to the dollar, 0.7 percent weaker than Thursday's New York close of 6.8425.
It was in the bottom three of the worst performers among emerging market currencies and there might be no respite next week.
"The rand has underperformed for the last two sessions, with central bank pressures," said Christopher Shiells, emerging market analyst at IGM.
"Next week, the rand's direction will depend on Greek sentiment and at the moment there is a cloud of uncertainty hanging over the austerity vote."
The rand has struggled to break the 6.92 level after two attempts this week and should it pierce it, it will aim for 6.96, which is its 200-day moving average.
On the bourse, the All-Share Index was up 1.2 percent to 30,680.23.
"There was obviously a huge recovery after a bad few days. The story at the moment is all about Greece and positive comments last night boosted the international markets and we followed suit," said Michael Carlsson, a trader at Consilium Capital.
"The resources performed very well after being punished perhaps too much the past few days."
Mining heavyweight BHP Billiton gained but gold miners extended losses as the price of bullion dropped to one-month lows.
The index of gold miners eased 0.5 percent after falling to its lowest level in nearly a year during the previous session.
Value investors snapped up shares of firms such as Internet and media giant Naspers, which went up 1.99 percent to 368.30 rand.
Fri, 24 Jun 2011
Top News
Growth in Rwandan mobile phone subscriptions slowed to 2.9 percent in the first five months of 2011, the country's regulator said on Friday. Full story
South Africa's closing maize stocks for the 2010/11 season were at 2.336 million tonnes, compared with 2.131 million tonnes for the previous season, data showed on Friday. Full story |
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AMMAN, June 24 (Reuters) - Syrian security forces shot dead 15 protesters on Friday when they used live ammunition in several cities to disperse protests demanding the ouster of President Bashar al-Assad, activists and residents said. Full storyNo talking, no tweeting and no travel for a year -- these are some of the conditions of Chinese dissident artist Ai Weiwei's release from more than two months in detention, underscoring Beijing's efforts to muzzle dissent. Full storyTens of thousands of Yemenis protested in Sanaa in a "Friday of the Revolutionary Will" to underline their drive to oust their wounded president. Full story |
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Markets | Gold fell sharply for a
second straight session on Friday, hitting its lowest in a
month, as Greece's debt worries boosted the dollar. . . Full story | | U.S. stocks dropped on Friday
as worries about the Italian banking sector added to anxiety
emanating from Europe about passage of a Greek. . . Full story | | Strong miners propped up
Britain's top shares on Friday, but overall sentiment was
downbeat on concerns over the Italian banking sector and the
passage. . . Full story | | The euro fell and global
stocks slipped on Friday as concerns the Greek parliament may
fail to pass new austerity measures next week. . . Full story |
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| U.S. stock index futures
pared losses and were nearly flat on Friday after trading in
some Italian banks was briefly suspended, raising new. . . Full story | | | | European shares bounced back on
Friday from three-month closing lows, with investor risk
appetite rising on expectations Greece could avoid a default
after international. . . Full story | | The Nikkei average rose to a
three-week closing high on Friday, helped by news that Greece
has agreed to a five-year austerity plan. . . Full story |
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SA Business | South Africa's rand regained some of its footing against the dollar on Friday after falling to one week lows the day before, while government bonds climbed higher due to foreigners seeking high returns.. . . Full story | | Civil engineering firm Unity Infraprojects Ltd is scouting for infrastructure building contracts in the Middle East, South Africa and Libya, while foraying into power and railways back home, a top official said on Friday.. . . Full story |
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| Wage negotiations between South African fixed-line operator Telkom and labour union Solidarity reached a deadlock, Solidarity said on Friday.. . . Full story | | South Africa's National Treasury on Friday said Thuto Shomang has been appointed new head of assets and liabilities, effective immediately.. . . Full story | | Canada's Platmin Ltd said it suspended mining operations at its Pilanesburg platinum mine in South Africa after some employees of a. . . Full story | | South Africa's Freeworld Coatings Ltd, a unit of Japan's Kansai Paint, said on Friday that first half earnings had fallen by. . . Full story |
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| South Africa auctioned 3.825 billion rand worth of three-month Treasury Bills on Friday at an average yield of 5.55 percent, unchanged from last week.. . . Full story |
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Company News | Shareholders are advised that the company expects earnings per share for the year ended 31 March 2011 to decrease from 4.57. . . Full story | | DAWN announce the appointment of Mr JA Beukes as company secretary, effective 22 June 2011. Mr JA Beukes assumes the responsibilities. . . Full story | | DAWN announce the appointment of Mr VJ Mokoena as an independent non-executive member of the board, effective 22 June 2011, and. . . Full story | | MCC Contracts (Pty) Ltd, a subsidiary of Eqstra Holdings Ltd, advises that on Thursday, 23 June 2011 certain employees at their. . . Full story |
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| The board of directors of B&W ("the board") notified its shareholders that Mr Stephen Pinkney has been appointed as an executive. . . Full story | | Cadiz advised shareholders of the following appointments which are effective from 24 June 2011:
* Abigail Brooks, the chief financial officer. . . Full story | | Investec plc announced that it has issued:
* 4 699 150 new ordinary shares of GBP0.0002 each in the capital of. . . Full story | | Discovery's strong performance during the interim financial reporting period to 31 December 2010 continued over the first quarter of the 2011. . . Full story |
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Company Results | Revenue for the interim period ended 31 March 2011 increased to R158 million (2010: R117.5 million). Gross profit rose to R26.3. . . Full story | | Revenue for the year ended 31 March 2011 increased to R1.8 billion (R1.5 billion) and operating profit before finance costs improved. . . Full story | | Revenue declined to R318.5 million (R394.3 million) and gross profit fell to R99 million (R170.8 million). The operating loss for the. . . Full story | | The group achieved another year of strong revenue growth of 30% (2010: 29%). This was achieved by solid growth across our. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 30680.23 | 353.69 | 1.17% | JSE Top 40 | 17:00 | 27391.89 | 364.97 | 1.35% | JSE Gold | 17:00 | 2298.74 | -10.40 | -0.45% | JSE Financial | 17:00 | 21018.90 | 166.91 | 0.80% | JSE Industrial | 17:00 | 31850.77 | 317.32 | 1.01% | JSE Indust 25 | 17:00 | 26682.52 | 300.21 | 1.14% | JSE Resource | 17:00 | 51517.61 | 794.00 | 1.57% | DJ Futures | 19:50 | 11890.00 | -105.00 | -0.88% | DJ Ind | 19:45 | 11981.62 | -68.38 | -0.57% | SP 500 | 18:20 | 1272.96 | -10.54 | -0.82% | Nasdaq | 18:20 | 2663.11 | -23.64 | -0.88% | FTSE 100 | 17:35 | 5697.72 | 23.34 | 0.41% | DAX | 18:00 | 7121.38 | -28.06 | -0.39% | CAC40 | 17:46 | 3784.80 | -2.99 | -0.08% | Nikkei | 08:36 | 9678.71 | 81.97 | 0.85% | Shanghai | 10:56 | 2746.21 | 58.62 | 2.18% | Hang-Seng | 10:22 | 22171.95 | 412.81 | 1.90% | All Ords | 08:37 | 4565.00 | 3.60 | 0.08% | NZSE 50 | 07:32 | 3455.60 | -6.21 | -0.18% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1501.35 | -20.05 | -1.32% | Gold/Rand | 20:00 | 10349.41 | -28.90 | -0.28% | Gold/R kg | 20:00 | 332733 | -1571 | -0.47% | Silver | 19:59 | 34.6980 | -.5900 | -1.67% | Platinum | 19:59 | 1678.00 | -17.85 | -1.05% | Palladium | 19:58 | 729.75 | -12.98 | -1.75% | R157 | 17:06 | 7.42 | -.07 | -0.93% | R204 | 17:06 | 8.23 | -.05 | -0.60% | Brent Crude | 19:56 | 105.73 | -3.35 | -3.07% | Rand / Dollar | 19:59 | 6.8934 | 0.0723 | 1.06% | Rand / Pound | 19:55 | 10.9880 | 0.0890 | 0.82% | Rand / Euro | 19:55 | 9.7847 | 0.0492 | 0.51% | Rand / NZD | 19:59 | 5.5967 | 0.0398 | 0.72% | Rand / AUD | 19:55 | 7.2538 | 0.0643 | 0.89% | Yen / Dollar | 19:59 | 80.3400 | -0.0500 | -0.06% | Euro / Dollar | 19:59 | 0.7048 | 0.7048 | 0.00% | Dollar / Euro | 19:59 | 1.4188 | -0.0073 | -0.51% | Pound / Dollar | 19:55 | 0.6253 | 0.0012 | 0.19% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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24/06/2011 | 220 | 108 | 69 | 397 | 276,851,828 | R14,165,604,557 | 106252 | 1990628 | 23/06/2011 | 93 | 239 | 78 | 410 | 263,723,203 | R11,996,827,092 | 92708 | 1918022 | 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 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 27,391.89 | 364.97 | 1.35% | Industrial | 31,850.77 | 317.32 | 1.01% | Mid Cap | 41,298.89 | 88.20 | 0.21% | Small Cap | 31,913.00 | 90.02 | 0.28% | Resource 20 | 51,517.61 | 794.00 | 1.57% | Industrial 25 | 26,682.52 | 300.21 | 1.14% | Financial 15 | 7,881.18 | 75.79 | 0.97% | Financial & Ind. 30 | 29,700.23 | 339.52 | 1.16% | All Share | 30,680.23 | 353.69 | 1.17% | Oil & Gas | 25,892.26 | 226.91 | 0.88% | Mining | 33,773.56 | 542.12 | 1.63% | Gold Mining | 2,298.74 | -10.40 | -0.45% | Platinum Mining | 67.57 | .31 | 0.46% | Oil & Gas Producers | 13,921.79 | 122.00 | 0.88% | Basic Materials | 28,679.82 | 416.42 | 1.47% | Chemicals | 13,590.41 | 33.14 | 0.24% | Forestry & Paper | 14,222.69 | 10.45 | 0.07% | Industrial Metals | 28,864.55 | -79.16 | -0.27% | Industrials | 27,299.25 | 223.01 | 0.82% | General Industrials | 74,265.55 | 934.67 | 1.27% | Consumer Goods | 26,227.46 | 305.67 | 1.18% | Automobiles & Parts | 3,371.78 | 33.97 | 1.02% | Household Goods | 139.18 | -2 | -1.35% | Health Care | 32,852.03 | 62.26 | 0.19% | Beverages | 78.79 | .54 | 0.69% | Food Producers | 46,836.71 | 70.15 | 0.15% |
| | Index Name | RP | Move | % Move | Personal Goods | 430.67 | 10.69 | 2.55% | Consumer Services | 51,453.13 | 675.77 | 1.33% | General Retailers | 39,813.66 | 650.93 | 1.66% | Travel & Leisure | 3,718.20 | 13.85 | 0.37% | Media | 81.35 | 1.58 | 1.98% | Support Services | 2,401.82 | 10.98 | 0.46% | Telecommunications | 66,937.66 | 746.78 | 1.13% | Financials | 21,018.90 | 166.91 | 0.80% | Banks | 39,035.93 | 486.28 | 1.26% | Non-life Insurance | 31,038.84 | -484.98 | -1.54% | Life Insurance | 15,388.04 | 100.05 | 0.65% | General Financial | 2,203.66 | 16.10 | 0.74% | Technology | 21,632.39 | 213.08 | 0.99% | SHARIAH TOP40 | 3,018.58 | 41 | 1.38% | FTSE/JSE SHARIAH ALL | 3,085.86 | 38 | 1.26% | COAL MINING | 22,434.05 | 538 | 2.46% | FTSE JSE Fledgling | 4,543.50 | 16 | 0.35% | FTSE/JSE Alt X | 1,069.88 | 7 | 0.70% | SA LISTED PROPERTY | 380.05 | | 0.07% | CAPPED PROPERTY | 314.89 | | 0.13% | RESOURCE | 28,426.90 | 429 | 1.53% | DIVIDEND PLUS | 163.08 | 1 | 0.68% | FTSE/JSE RAFI 40 | 6,387.74 | 77 | 1.22% | Capped Top 40 | 14,300.59 | 176 | 1.25% | Capped All Share | 15,462.08 | 171 | 1.12% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | NED | NEDBANK GROUP LTD | SELL | 21 Jun | SBK | STANDARD BANK GROUP LIMIT... | SELL | 21 Jun | AIP | ADCOCK INGRAM HLGS LD | HOLD | 21 Jun | LHC | LIFE HEALTHCARE GRP HLDG ... | BUY | 21 Jun | EQS | EQSTRA HOLDINGS LTD | HOLD | 21 Jun |
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Results Expected** Expected | Company Name | Fin. Date | 27 Jun 2011 | NASPERS | March 2011 (Final) | 27 Jun 2011 | NASPERS-N | March 2011 (Final) | 28 Jun 2011 | OMNIA | March 2011 (Final) | 28 Jun 2011 | OMNIACP | March 2011 (Final) | 29 Jun 2011 | WESCOAL | March 2011 (Final) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | ARGENT | 11-06-23 | 11-09-02 | 11-09-12 | R 0.0300 | AVUSA | 11-06-23 | 11-07-22 | 11-08-01 | R 0.8500 | NAMPAK 6%P | 11-06-23 | 11-07-22 | 11-08-01 | R 0.0600 | TELEMASTR | 11-06-23 | 11-07-08 | 11-07-18 | R 0.0500 | NAMPAK 6.5 | 11-06-23 | 11-07-22 | 11-08-01 | R 0.0650 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | TIGBRANDS | 11-05-30 | 11-06-24 | 11-07-04 | R 2.8100 | VODACOM | 11-05-16 | 11-06-24 | 11-07-04 | R 2.8000 | 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 | ACUCAP | 11-06-09 | 11-06-24 | 11-07-04 | R 1.3888 |
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Upcoming AGMs** Code | Company Name | Date | Status | IMU | Imuniti Holdings Ltd | 24/06/2011 | Confirmed | ESR | Esorfranki Ltd | 24/06/2011 | Confirmed | IMUP | Imuniti Holdings Ltd | 24/06/2011 | Confirmed | ADR | Adcorp Holdings Ltd | 24/06/2011 | Confirmed | PNC | Pinnacle Technology Holdings Ltd | 24/06/2011 | Confirmed |
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