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Tuesday, 19 July 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.
All the JSE trading statistics; major movers; latest dividends; upcoming AGM dates and more are provided to insure that you keep abreast of market developments. The Sharenet Daily is published at 8pm each day on the website and also distributed via email for your convenience. As always, we welcome your comments, feedback and suggestions at support@sharenet.co.za
Charts
June Year End Companies
There are some 470 companies listed on the JSE, including the Alt X. Many of them have elected to have a June year end. Unlike in the US where listed companies must report quarterly, local companies report every 6 months. Interims can be produced far quicker and do not need the final sign off from auditors, while the annual financial statements require this sign off, which necessitates a longer preparation time.
The JSE recorded the total market capitalisation of all listed shares at R6.8 trillion, from R5.89 trillion year back – up 15.4%. This includes all new listings and any delistings. In US dollar terms this is around $1 trillion. According to stats on Wikipedia, the market capitalisation of the JSE in 2003 was $183 billion.
5 of the top 6 companies listed by market capitalisation (i.e. the number of shares in issue multiplied by the share price – or value of the equity in the company at market price, an indication of the size of the business) have their primary listing on a foreign exchange.
The 5 companies with their primary listing on a foreign exchange are British American Tobacco Plc, BHP Billiton Plc, Anglo American Plc, SABMiller Plc, and Compagnie Financiere Richemont SA.
Some of the larger companies that will be reporting their annual results to June in August and September include BHP Billiton, Sasol, Impala Platinum, Firstrand, Shoprite, Remgro, The Bidvest Group, Steinhoff, Aspen, Massmart, and Woolworths. Also included is the largest listed property company Growthpoint.
Latest news on BHP Billiton
BHP Billiton – over the last few years this company has been unsuccessful in making some large acquisitions. The two biggest were Rio Tinto in 2008 and Canadian Potash in 2010. These failed acquisitions cost the company some $900 million. But this is a cash generating company that needs to find big acquisitions and so a few days ago it proposed a cash offer for 100% of Petrohawk Energy Corporation, which is a shale gas company.
The acquisition price for Petrohawk is some $15.1 billion including debt of $3 billion and at a price at 49,5% above the 30 day average. Unlike the previous large bids, this potential acquisition has been approved by board of Petrohawk and now needs shareholder approval. In February BHP announced the $4.8 billion acquisition of Chesapeake Energy Corporation, also involved in shale gas.
BHP Billiton shares have traded sideways over the last 9 months.
Over the last 12 months, following its failed acquisition of Potash, it reactivated its share buyback programme. From November 2010 to June 2011 it has spent some $10 billion in buying back its own shares. Following this spend it is reported that it would have repurchased about $23 billion of its London and Sydney listed shares since 2004.
June 2010 earnings per share came in at R17. Taking into account the interim, these are now on a rolling R23 per share. INet consensus is at R28.40 for June, which puts the current price on an estimated price to earnings ratio of around 9.2 times.
Source: Yahoo finance
Kind regards,
Ian de Lange
info@seedinvestments.co.za
www.seedinvestments.co.za
021 9144 966
Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-07-19T084650Z_01_AJOE76I0OE400_RTROPTP_3_OZABS-SAFRICA-FUEL-STRIKES-20110719.JPG "An employee fills up a car's gas tank at a petrol station in Manila") Employers in South Africa's petroleum industry have raised their wage offer to workers in an effort to end a week-long strike that has disrupted fuel supplies, the Solidarity union said on Monday. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=http%253A%252F%252Fwww.sharenet.co.za%252Fimages%252Fprofile%252Fmicromega.gif) Revenue for the interim period was higher at R359.8 million (2010: R327 million). Gross profit increased to R131.5 million (2010: R107.2 million), while operating profit rose to R18.6 million (2010: R10.5 million). Profit attributable to owners of the company increased to R14.1 million (2010 Full story |
 U.S. Secretary of State Hillary Clinton urged India Tuesday to amend a law that has put off U.S. companies from taking part in the $150 billion (93 billion pounds) nuclear energy market and further open up Asia's third largest economy to foreign investment. Full story  Guinean President Alpha Conde escaped two attacks on his residence on Tuesday that killed at least three people and left his home riddled with bullets, in assaults which authorities linked to former senior officers in the army. Full story  Japan's government ordered the suspension of all shipments of beef cattle from Fukushima prefecture on Tuesday after discovering that cattle fed rice straw contaminated with high levels of radioactive caesium had been shipped nationwide. Full story |
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Markets |
U.S. stocks jumped 1 percent
on Tuesday on strong earnings from IBM and Coca-Cola,
offsetting investor disappointment in results from big
financial firms.. . . Full story |
European shares ended higher on
Tuesday after banks bounced from two-year lows ahead of a
crucial meeting of political leaders aimed at resolving. . . Full story |
Gold prices eased from a
record above $1,600 an ounce on Tuesday and were on track to
snap an unprecedented 11-day rally as. . . Full story |
Wall Street stocks rose on on
upbeat U.S. corporate earnings on Tuesday, and the euro and
European shares gained ahead of an EU. . . Full story | |||
A rally by recently beaten-down
banks and commodity issues hauled Britain's top share index
higher on Tuesday, although many traders doubted whether the
gains. . . Full story |
Hong Kong shares eked out
gains in the final hour of Tuesday trading as higher crude oil
prices lifted oil producers, helping reverse. . . Full story |
Australian stocks ended
marginally lower on Wednesday, but wagering group Tabcorp jumped
as much as 8.4 percent after it gained a key gaming. . . Full story |
The Nikkei stock average fell on
Tuesday, moving further away from four-month highs, as banks
were sold by European and domestic players on. . . Full story | ||||
SA Business |
South Africa plans to set up a state-owned pharmaceutical company, a senior official in the ruling ANC party said on Tuesday,. . . Full story |
South African gold miner Harmony said on Tuesday it had resumed work at its Tshepong mine in South Africa after an. . . Full story |
A massive shortfall in funding for African infrastructure projects is costing the continent up to 3 percent of Gross Domestic Product. . . Full story |
South Africa exported 41,538 tonnes of white maize last week compared with 12,536 tonnes in the previous week, the South African. . . Full story | |||
Canadian miner Eastern Platinum reported lower second-quarter production at its flagship Crocodile River mine in South Africa due to labour disruptions.. . . Full story | South Africa's Treasury sold 800 million rand of its 2021 bond at a clearing yield of 8.42 percent on Tuesday.. . . Full story | Africa-focused miner Petra
Diamonds said full-year revenue rose 24 percent, as
higher rough diamond prices and fast-growing demand in Asia
outweighed a decline in. . . Full story | The price of importing South African coal has fallen to be nearly on par with Chinese domestic rates, but Chinese buyers. . . Full story |
South African miner Gold Fields has resumed operations at the No.3 shaft of its Beatrix mine, a company spokesman said on. . . Full story | South Africa's rand eased against the dollar on Tuesday, breaching the key 7.00 psychological barrier that traders say may open a. . . Full story | It will take three to four years for South Africa's tax revenue to recover from the impact of a 2009 recession,. . . Full story | South African retailer Woolworths Holdings said on Tuesday it expects full-year earnings to rise by as much as 30 percent, helped. . . Full story |
Company News |
South Ocean's headline earnings per share and earnings per share for the 6 months ended 30th June 2011 are expected to. . . Full story |
Notice was given to all shareholders of Pinpoint of a business rescue application in terms of Section 131 of the Companies. . . Full story |
Shareholders are referred to the SENS announcement on 14 June 2011 regarding the acquisition by AMAP's wholly owned subsidiary, Tedelex Trading. . . Full story |
At the general meeting of the shareholders of Bell held on 19 July 2011, all the ordinary and special resolutions proposed. . . Full story | |||
Shareholders are advised that the annual financial statements for the year ended 31 March 2011 was published on the company's website (www.omnia.co.za) today and will be dispatched to shareholders shortly. The annual financial statements contain no material modifications to the audited. . . Full story |
Anglo announced that a total of 15 000 ordinary shares were transferred from treasury shares on 15th and 18th July 2011, in respect of the grant of awards and vesting of awards under the company's share plans. Following the transfers, Anglo. . . Full story | ||||||
Company Results | Revenue for the interim period increased to R2.5 billion (2010: R2.3 billion). Earnings before interest, tax, depreciation, amortisation and impairments (EBITDA) rose to R416 million (2010: R354 million), but profit attributable to equity holders of the company decreased to R53 million (2010: R118 million). Furthermore, headline earnings per share improved to 52.8cps (2010: 38.8cps).
Dividend
It is the group's policy to consider dividends twice annually. The board of directors have. . . Full story |
World Markets (Spot Prices)
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Click here for the Sharenet Spot Price page
The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 19/07/2011 | 185 | 163 | 77 | 425 | 256,784,102 | R12,959,878,392 | 80841 | 1291078 |
| 18/07/2011 | 113 | 226 | 66 | 405 | 268,259,384 | R13,081,537,721 | 89804 | 1752887 |
| 15/07/2011 | 196 | 131 | 78 | 405 | 286,101,528 | R11,859,925,617 | 80609 | 1783025 |
| 14/07/2011 | 158 | 166 | 91 | 415 | 283,008,846 | R11,604,389,400 | 84511 | 1838582 |
| 13/07/2011 | 237 | 110 | 72 | 419 | 269,408,818 | R12,555,946,028 | 92043 | 1973809 |
Major Moves Up
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Major Moves Down
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Index Summary
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Latest Consensus Changes**
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Results Expected**
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Recent Dividends**
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Upcoming AGMs**
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Stock Exchange News Service
| Date | Time | Headline |
| 19/07/2011 | 17:44 | Awethu Breweries Limited - Change of Auditors |
| 19/07/2011 | 17:20 | Lewis Group Limited - Directors Dealings in Securities |
| 19/07/2011 | 17:13 | GEN - FTSE/JSE Africa Index Series - Mpact Ltd (South Africa): Shares in Issue |
| 19/07/2011 | 17:09 | Hudaco Industries Limited - Dealing in securities by directors and the |
| 19/07/2011 | 17:03 | African Brick - Withdrawal of cautionary announcement |
| 19/07/2011 | 17:00 | South Ocean - Trading Statement |
| 19/07/2011 | 16:50 | Nictus Limited - Dealing in securities by Directors |
| 19/07/2011 | 16:28 | Pinnacle Point - Business Rescue Application |
| 19/07/2011 | 16:22 | African Oxygen Limited - Unaudited financial results for the six months |
| 19/07/2011 | 16:20 | Illovo Sugar Limited - Changes in Directorate |
| 19/07/2011 | 16:19 | Illovo Sugar Limited - Results of Annual General Meeting |
| 19/07/2011 | 16:18 | Illovo Sugar Limited - Annual General Meeting - 19 July 2011/Chairman`s |
| 19/07/2011 | 15:02 | AMAP - Financial effects regarding the SAMMEG, SAMSAT (CAPE) and SAMSAT |
| 19/07/2011 | 14:42 | BIFR1 - FirstRand Bank Limited - Listing of New Financial Instrument |
| 19/07/2011 | 14:41 | BIFR1 - FirstRand Bank Limited - Listing of New Financial Instrument |
| 19/07/2011 | 14:30 | African Oxygen Limited - Afrox trading update |
| 19/07/2011 | 14:23 | BIIIPL - iNguza Investments (Proprietary) Limited - Interest Rate Reset |
| 19/07/2011 | 14:22 | Eastern Platinum Limited - Eastplats reports production results for the |
| 19/07/2011 | 14:07 | BIIND - iNdwa Investments Limited - Full Capital Redemption |
| 19/07/2011 | 14:05 | ATN/ATNP - Allied Electronics Corporation Limited - Dealing in securities by a |
| 19/07/2011 | 14:00 | Jse: Bifr1 |
| 19/07/2011 | 13:53 | Bell Equipment Limited - Report on proceedings at General Meeting |
| 19/07/2011 | 12:34 | MICROmega Holdings Limited - Unaudited interim results for the six month |
| 19/07/2011 | 12:08 | Omnia Holdings Limited - No change statement and Annual General |
| 19/07/2011 | 11:18 | BIIIPL - iNguza Investments (Proprietary) Limited - Interest Rate Reset |
| 19/07/2011 | 10:57 | Miranda Mineral Holdings Limited - Appointments to the board of |
| 19/07/2011 | 09:27 | AH-Vest Limited - Resignation of Director |
| 19/07/2011 | 09:19 | Sea Kay Holdings Limited - Change to the board |
| 19/07/2011 | 09:00 | Merafe Resources Limited - Disclosure of beneficial interests in |
| 19/07/2011 | 08:00 | Woolworths Holdings Limited - Trading update and trading statement |
| 19/07/2011 | 07:30 | Reinet Investments S.C.A. Depositary Receipts - Management statement for |
| 19/07/2011 | 07:15 | Anglo American plc - Treasury shares - Transfers |
| 19/07/2011 | 07:10 | British American Tobacco p.l.c.- Transaction in own shares |
| 19/07/2011 | 07:10 | SYN844 - Synthesis Funding Limited - New Financial Instrument Listing |
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