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 firstname.lastname@example.org
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
Ian de Lange
021 9144 966
Tue, 19 Jul 2011
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.
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
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.
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.
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.
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. . .
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. . .
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).
It is the group's policy to consider dividends twice annually. The board of directors have. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||28707.36||177.14||0.62%|
|JSE Indust 25||17:00||28118.94||52.34||0.19%|
|Rand / Dollar||19:59||6.9244||-0.0365||-0.52%|
|Rand / Pound||19:59||11.1461||-0.0147||-0.13%|
|Rand / Euro||19:59||9.8152||-0.0212||-0.22%|
|Rand / NZD||19:58||5.9294||0.0537||0.91%|
|Rand / AUD||19:59||7.4338||0.0338||0.46%|
|Yen / Dollar||19:59||78.9400||-0.1100||-0.14%|
|Euro / Dollar||19:59||0.7051||-0.0036||-0.51%|
|Dollar / Euro||19:57||1.4178||0.0075||0.53%|
|Pound / Dollar||19:59||0.6192||-0.0036||-0.58%|
Click here for the Sharenet Spot Price page
The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||31,057.45||20.78||0.07%|
|Oil & Gas ||26,834.18||141.46||0.53%|
|Oil & Gas Producers ||14,428.24||76.06||0.53%|
|Basic Materials ||30,145.80||405.64||1.36%|
|Forestry & Paper ||14,501.39||16.68||0.12%|
|Industrial Metals ||31,243.31||599.16||1.96%|
|General Industrials ||78,301.69||-28.24||-0.04%|
|Consumer Goods ||28,031.00||-95.67||-0.34%|
|Automobiles & Parts ||3,725.03||-11.33||-0.30%|
|Health Care ||33,301.49||141.75||0.43%|
|Food Producers ||49,669.81||292.39||0.59%|
|Index Name||RP||Move||% Move|
|Personal Goods ||440.85||-3.00||-0.68%|
|Consumer Services ||53,477.30||157.44||0.30%|
|General Retailers ||42,716.08||499.72||1.18%|
|Travel & Leisure ||3,746.10||28.34||0.76%|
|Support Services ||2,380.14||-35.81||-1.48%|
|Non-life Insurance ||31,766.31||26.67||0.08%|
|Life Insurance ||15,889.24||38.18||0.24%|
|General Financial ||2,281.47||-6.81||-0.30%|
|SHARIAH TOP40 ||3,174.35||37||1.18%|
|FTSE/JSE SHARIAH ALL||3,236.50||34||1.07%|
|FTSE JSE Fledgling ||4,594.80||8||0.18%|
|FTSE/JSE Alt X ||1,158.03||9||0.80%|
|SA LISTED PROPERTY ||386.22||0.20%|
|CAPPED PROPERTY ||318.32||0.40%|
|FTSE/JSE RAFI 40||6,648.72||37||0.56%|
|Capped Top 40||14,999.50||75||0.50%|
|Capped All Share||16,162.33||87||0.54%|
Click here for the Sharenet Index Summary page
Latest Consensus Changes**
|MDC||MEDI-CLINIC CORPORATION L...||HOLD||15 Jul|
|NED||NEDBANK GROUP LTD||SELL||14 Jul|
|SBK||STANDARD BANK GROUP LIMIT...||SELL||14 Jul|
|AIP||ADCOCK INGRAM HLGS LD||HOLD||14 Jul|
|BTI||BRITISH AM. TOBACCO PLC||BUY||14 Jul||
|Expected||Company Name||Fin. Date|
|20 Jul 2011||ELLIES||April 2011 (Final)|
|21 Jul 2011||KUMBA||June 2011 (Interim)|
|25 Jul 2011||AMPLATS||June 2011 (Interim)|
|25 Jul 2011||ANGLOPLATCCP||June 2011 (Interim)|
|25 Jul 2011||HULAMIN||June 2011 (Interim)|
|ILV||Illovo Sugar Ltd||19/07/2011||Confirmed|
|BEL||Bell Equipment Ltd||19/07/2011||Confirmed|
|CGR||Calgro M3 Holdings Ltd||20/07/2011||Confirmed|
|ALT||Allied Technologies Ltd||20/07/2011||Confirmed|
Stock Exchange News Service
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