Friday, 15 July 2011 - 20:00
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S.Africa's rand ends weaker, bond market cautious for next week
By Xola Potelwa and Mmathabo Tladi
JOHANNESBURG (Reuters) - The rand fell one percent against the dollar and ended the week at its lowest in two months as investors booked out of risky positions going into the weekend, while bonds were nearly unchanged as dealers tried to neutralise positions for next week's key inflation data and a repo rate decision.
Stocks ended a see-saw session slightly higher, led by Harmony and Truworths after the two companies issued upbeat trading updates while BHP Billiton dropped after unveiling a Petrohawk deal.
The rand gave up 1.2 percent to 6.92 on the day, off a New York close of 6.8380.
"We remain in a risk-off environment. There is a fairly negative undertone, the market doesn't want to go in the weekend holding any risk and hence we've seen a bit of a sell-off in the local currency," said Duncan Howes, a forex trader at Absa Capital.
The currency is likely to try a retest of support at 6.95 against the dollar but until that is breached it should stay below the big 7.0 level.
"For us 6.95 remains key, a break above there could trigger a move up into the 7.05/7.10 area," Duncan Howes added.
The debt market saw thin trade as dealers squared their books for the weekend and wanted neutral positions going into next week's key data.
Yields on the benchmark 2015 government bond ended just one basis point higher at 7.48 percent on Friday.
The market has priced in a no change in the repo rate on Thursday while inflation for June is expected to have quickened.
"Very thin, very quiet on the bond market today with no events. I think all the positioning now is that guys squared their books up so they can go into the data more neutral next week," said a local bond dealer.
HARMONY LED STOCKS HIGHER
The JSE Top-40 blue chip index was 0.24 percent firmer at 28,915.93 and the broader All-share index was up 0.26 at 32,288.43
Traders said next week's reporting season would shed light on the market's medium-term direction.
"Reporting season starts properly next week, people will watch what is going on," said Malcom Moller a trader at Vunani Ltd.
Among equity movers, Harmony was 3.18 percent higher at 98.68 rand after the gold miner said quarterly production likely rose 3 percent.
Truworths added 2.21 percent to 74.10 rand after the clothing retailer said full-year profit likely increased as much as 22 percent.
On the flipside, BHP Billiton gave up 1.24 percent to 260.20 rand on concerns that it may be paying too much for shale gas producer Petrohawk.
Mondi was down 3 percent at 55.62 rand on worries about its growth prospects after the paper maker spun off and separately listed its packaging business.
Fri, 15 Jul 2011
Rental income for the quarter amounted to EUR439 969 (May 2010: EUR407 743) and results from operating activities showed a profit of EUR211 386 (May 2010: Loss of EUR236 473). A net attributable profit of EUR45 512 (May 2010: Loss of EUR432 823) was made and the earnings per share was EUR0.2cps (May 2010: Loss per share of EUR2.8cps)
Dividend of EUR2.14cps was declared.The establishment of a regular dividend payment cycle is evidence of the company's solid progress. The decl. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||28915.93||68.46||0.24%|
|JSE Indust 25||17:00||28557.21||200.46||0.71%|
|Rand / Dollar||19:59||6.9033||0.0681||1.00%|
|Rand / Pound||19:59||11.1076||0.1060||0.96%|
|Rand / Euro||19:59||9.7653||0.0957||0.99%|
|Rand / NZD||19:59||5.8330||0.0751||1.30%|
|Rand / AUD||19:59||7.3498||0.0183||0.25%|
|Yen / Dollar||19:59||78.9800||-0.1400||-0.18%|
|Euro / Dollar||19:59||0.7068||-0.0001||-0.01%|
|Dollar / Euro||19:59||1.4145||0.0001||0.01%|
|Pound / Dollar||19:59||0.6195||0.0003||0.05%|
Click here for the Sharenet Spot Price page
The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||31,564.68||167.46||0.53%|
|Oil & Gas ||27,231.18||248.20||0.92%|
|Oil & Gas Producers ||14,641.70||133.45||0.92%|
|Basic Materials ||29,997.35||-83.31||-0.28%|
|Forestry & Paper ||14,766.12||-345.89||-2.29%|
|Industrial Metals ||30,980.12||295.32||0.96%|
|General Industrials ||79,633.27||343.58||0.43%|
|Consumer Goods ||28,475.63||86.15||0.30%|
|Automobiles & Parts ||3,759.00||133.60||3.69%|
|Health Care ||33,410.45||349.35||1.06%|
|Food Producers ||49,808.29||481.80||0.98%|
|Index Name||RP||Move||% Move|
|Personal Goods ||452.94||-2.50||-0.55%|
|Consumer Services ||54,357.93||876.26||1.64%|
|General Retailers ||42,724.30||429.29||1.01%|
|Travel & Leisure ||3,775.95||10.29||0.27%|
|Support Services ||2,404.68||14.64||0.61%|
|Non-life Insurance ||31,766.31||.00||0.00%|
|Life Insurance ||16,103.91||92.42||0.58%|
|General Financial ||2,326.71||7.33||0.32%|
|SHARIAH TOP40 ||3,175.40||1||0.03%|
|FTSE/JSE SHARIAH ALL||3,239.71||2||0.06%|
|FTSE JSE Fledgling ||4,599.56||-7||-0.16%|
|FTSE/JSE Alt X ||1,153.26||0||0.02%|
|SA LISTED PROPERTY ||386.33||0.17%|
|CAPPED PROPERTY ||318.22||0.08%|
|FTSE/JSE RAFI 40||6,709.64||5||0.07%|
|Capped Top 40||15,125.02||54||0.36%|
|Capped All Share||16,284.42||51||0.31%|
Click here for the Sharenet Index Summary page
Latest Consensus Changes**
|NED||NEDBANK GROUP LTD||SELL||13 Jul|
|SBK||STANDARD BANK GROUP LIMIT...||SELL||13 Jul|
|AIP||ADCOCK INGRAM HLGS LD||HOLD||13 Jul|
|LHC||LIFE HEALTHCARE GRP HLDG ...||BUY||13 Jul|
|EQS||EQSTRA HOLDINGS LTD||HOLD||13 Jul||
|Expected||Company Name||Fin. Date|
|19 Jul 2011||FOORD||June 2011 (Interim)|
|19 Jul 2011||FOORDCMPS||June 2011 (Interim)|
|19 Jul 2011||FOORDDP||June 2011 (Interim)|
|19 Jul 2011||FOORDPP||June 2011 (Interim)|
|20 Jul 2011||ELLIES||April 2011 (Final)|
|NAMPAK 6.5||11-06-23||11-07-22||11-08-01||R 0.0650|
|MMG||MICROmega Holdings Ltd||15/07/2011||Confirmed|
|ATN||Allied Electronics Corporation Ltd||15/07/2011||Confirmed|
|ATNP||Allied Electronics Corporation Ltd||15/07/2011||Confirmed|
|ILV||Illovo Sugar Ltd||19/07/2011||Confirmed|
|BEL||Bell Equipment Ltd||19/07/2011||Confirmed||
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