Thursday, 28 July 2011 - 20:00
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Charts
Strikes weigh on S.Africa's shares; bonds, rand weaken
By Mmathabo Tladi and Phumza Macanda
JOHANNESBURG (Reuters) - South Africa's rand slipped on Thursday after posting strong gains this week, while bond prices fell on concerns over the U.S. debt standoff and stocks fell for the fourth straight day.
Mining stocks fell as unions went on strike, helping drag down the resource-heavy Top-40 index of blue chips by 0.52 percent to 28,099.81. The All-Share index fell 0.47 percent to 31,446.39.
Investors were loathe to hang on to long high-risk assets before U.S. lawmakers vote on a deficit-reduction plan aimed at averting the threat of a default, which has unsettled markets.
Local data showing unemployment rose in the third quarter added to the negative sentiment, highlighting a challenge that could stoke social instability in future.
The rand was trading at 6.7030 to the dollar at 1525 GMT, 0.3 percent weaker than Wednesday's New York close of 6.6820. It hit a fresh two-moth high of 6.6250 earlier.
"We have that U.S. vote tonight so the market is a little gun-shy," said Warrick Butler, dealer at Standard Bank.
"We've seen a lot of local demand for dollars as well as real money selling off bonds, so we had another move up to 6.7150. The market is nervous so there's a lot of off-loading because we've had a good run for some time."
Offshore investment into local bonds has helped to support the rand and it is one of the top three performers so far this year amongst emerging market currencies tracked by Reuters.
Bonds weakened slightly on Thursday, with the yield on the 2015 bond up a basis point to 7.37 and that on the 2026 paper ticking up by the same margin to 8.515 percent.
The break of 7.36 percent on the 2015 bond opens up for 7.20 percent in the weeks to come, said market researchers Tradition Analytics in a note.
"Momentum on the monthly R157 yield chart remains bullish and a test of 7.05 is possible in H2 2011, particularly as the domestic economy continues to under perform peers and price inflation doesn't gain meaningful traction."
Monetary policy is expected to remain accommodative for the rest of this year and interest rates are seen starting to rise from 30-year lows early next year.
On the bourse, falling gold prices hammered listed producers such as AngloGold Ashanti.
"The gold price pulled back quite a bit, the rand is stronger, strikes are having negative factor," said Mitchell Gannaway, a trader at Thebe Securities.
"Mining companies haven't been benefiting as they should from the record gold price."
Global bullion prices have fallen to just above $1,600 an ounce, after hitting a record $1,628 on Wednesday.
Some 100,000 workers at AngloGold, Gold Fields, Harmony Gold and another smaller mining group plan to walk off the job. The work stoppage could cost the sector some $25 million a day in lost output.
AngloGold and Harmony Gold slid 3 percent each to 281.11 and 91.19 rand respectively.
Gannaway said the prolonged debt stalemate in the United States was also weighing on sentiment.
"The longer it goes on before the deadline, (the more) markets will be nervous," he said.
Thu, 28 Jul 2011
Top News
Some 100,000 South African gold miners went on strike on Thursday, but fuel workers ended a stoppage that had slowed commerce and caused panic buying. Full story
South Africa's government wants Wal-Mart Stores to boost a fund for local suppliers to $75 million from a planned $15 million, Business Report newspaper said on Thursday, citing an unnamed government source. Full story |
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Rebels in Libya's Western Mountains launched an offensive against Muammar Gaddafi's troops on Thursday and the opposition won diplomatic recognition from Portugal, which joined some 30 states to have made such a move. Full storyChinese Premier Wen Jiabao Thursday vowed a thorough and transparent probe into last week's train crash that killed at least 39 people, visiting the crash site in a bid to calm public outrage at the government's handling of the disaster. Full storyNorwegian police on Thursday ended a six-day search for bodies on the island where Anders Behring Breivik shot dead 68 people, and said they were increasingly certain he acted alone. Full story |
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Markets | Wall Street gained momentum
on Thursday, with the Nasdaq up about 1 percent before a key
vote in Congress on a plan to. . . Full story | | U.S. stocks gained and the
dollar rose on Thursday after better-than-expected housing and
jobs data overshadowed concern over the U.S. debt debacle.. . . Full story | | Heavyweight commodity stocks led
Britain's top share index lower on Thursday as investors shifted
out of cyclical plays and put their money into. . . Full story | | European shares fell for a
fourth straight session to hit a one-week low on Thursday as
disappointing earnings and cautious comments from major. . . Full story |
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| U.S. stock index futures rose
on Thursday after Wall Street suffered its worst day in eight
weeks, but the session was predicted to. . . Full story | | - Mounting concerns about a U.S.
debt default dragged global stocks down to their lowest in more
than a week and drove the. . . Full story | | European stocks retreated in
early trade on Thursday, falling for the fourth straight session
as a raft of disappointing earnings and downbeat comments
sparked. . . Full story | | Australian stocks fell 1.6
percent on Thursday as growing fears about a U.S. debt default
drove investors out of blue chips with investment. . . Full story |
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SA Business | South Africa's official jobless rate rose further in the second quarter of this year as the mining and manufacturing sectors shed. . . Full story | | South Africa's maize futures closed higher on Thursday and are seen making more gains after the government cut the crop forecast. . . Full story | | Shares of Investec fell more than 2 percent on Thursday after the asset manager and investment bank said first-quarter conditions had. . . Full story | | Shares of Canada's Forbes Coal first traded at 25.01 rand in their debut on the South African stock exchange on Thursday.. . . Full story |
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| Paper maker Mondi's near 60-percent surge in first-half profit on Thursday disappointed investors expecting more from the company's restructuring drive and. . . Full story | | Gold edged down further on
Thursday from the previous session's record high as investors
hoped for passage of a bill to cut the. . . Full story | | South Africa's National Union of Mineworkers (NUM) said on Thursday it would consider an offer by miner Anglo American Platinum and. . . Full story | | Brazil's competitive advantage
as a sugar producer is eroding due partly to a strong currency,
but the global market will continue to depend. . . Full story |
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| A 2-1/2 week strike by South African fuel workers that had been threatening the continent's biggest economy ended on Thursday, Talk Radio 702 reported.. . . Full story | | Escalating costs for
everything from worker salaries to diesel fuel and a sliding
U.S. dollar may spoil the party for the world's top miners that
are set to report record half-year profits thanks to. . . Full story | | South African investment bank and asset manager Investec said first-quarter profit was marginally higher, as it battled tougher-than-expected economic conditions and weak debt and equity markets.. . . Full story |
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Company News | Shareholders are referred to the announcement dated 7 July 2011 that Wescoal launched an urgent application with the High Court during. . . Full story | | Optimum informed shareholders and update the market on its operational performance at Optimum Collieries and Koornfontein Mines for the year ended. . . Full story | | This Interim Management Statement is issued by Investec in accordance with the UK Listing Authority's Disclosure and Transparency Rules. Unless stated. . . Full story | | The company expects an improvement of more than 250% in the headline earnings per share ("HEPS") for the six months ending. . . Full story |
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| Shareholders were advised that a general meeting of Eqstra will be held on Wednesday, 31 August 2011 at 09:00 at the. . . Full story | | The Financial Mail reported that HCI has tow main objectives for KWV. The first is to improve its performance and value,. . . Full story | | Shareholders are advised that at the twenty-eight Annual General Meeting of Mediclinic held on 27 July 2011, all the ordinary and. . . Full story | | Shareholders are referred to the announcement released by Adcock Ingram on 29th March 2011 relating to the acquisition of the business. . . Full story |
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Company Results | Revenue increased by 12.5% to R618.6 million (R549.7 million). Gross profit declined by 10.4% to R106.3 million (R118.6 million). Net attributable. . . Full story | | Revenue increased to R16.6 billion (June 2010: R16.2 billion). Operating profit declined to R929 million (June 2010: R2.3 billion) while net. . . Full story | | Revenue for the interim period ended 30 June 2011 increased by 2% to GBP7 438 million (2010: GBP7 298 million). Profit. . . Full story | | Group revenue for the interim period ended 30 June 2011 increased to EUR2.942 billion (2010: EUR2.752 billion). Gross profit rose to. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 31446.39 | -147.60 | -0.47% | JSE Top 40 | 17:00 | 28099.81 | -147.68 | -0.52% | JSE Gold | 17:00 | 2403.02 | -50.80 | -2.07% | JSE Financial | 17:00 | 21275.64 | -113.70 | -0.53% | JSE Industrial | 17:00 | 33141.47 | 57.83 | 0.17% | JSE Indust 25 | 17:00 | 27799.46 | 68.20 | 0.25% | JSE Resource | 17:00 | 52235.72 | -581.69 | -1.10% | DJ Futures | 19:50 | 12275.00 | 27.00 | 0.22% | DJ Ind | 17:51 | 12376.65 | 74.10 | 0.60% | SP 500 | 19:46 | 1313.37 | 8.48 | 0.65% | Nasdaq | 19:46 | 2794.16 | 29.37 | 1.06% | FTSE 100 | 17:35 | 5873.21 | 16.63 | 0.28% | DAX | 17:56 | 7190.06 | -62.62 | -0.86% | CAC40 | 17:40 | 3712.66 | -21.41 | -0.57% | Nikkei | 08:26 | 9901.35 | -145.84 | -1.45% | Shanghai | 09:26 | 2708.78 | -14.71 | -0.54% | Hang-Seng | 10:26 | 22570.74 | 29.05 | 0.13% | All Ords | 08:42 | 4539.20 | -73.40 | -1.59% | NZSE 50 | 07:46 | 3396.79 | -15.57 | -0.46% |
| | Name | Time | RP | Move | % Move | Gold | 19:58 | 1613.02 | -.21 | -0.01% | Gold/Rand | 19:59 | 10836.20 | 10836.20 | 0.00% | Gold/R kg | 19:56 | 348665 | 22 | 0.01% | Silver | 19:59 | 39.6580 | -.4870 | -1.21% | Platinum | 19:57 | 1785.25 | -1.50 | -0.08% | Palladium | 19:59 | 823.73 | .58 | 0.07% | R157 | 12:02 | 7.36 | .01 | 0.14% | R204 | 16:06 | 8.14 | .01 | 0.12% | Brent Crude | 19:56 | 117.56 | -.38 | -0.32% | Rand / Dollar | 19:59 | 6.7210 | 0.0462 | 0.69% | Rand / Pound | 19:58 | 10.9545 | 0.0816 | 0.75% | Rand / Euro | 19:58 | 9.6279 | 0.0337 | 0.35% | Rand / NZD | 19:58 | 5.8608 | 0.0359 | 0.62% | Rand / AUD | 19:58 | 7.4103 | 0.0465 | 0.63% | Yen / Dollar | 19:57 | 77.8000 | -0.1300 | -0.17% | Euro / Dollar | 19:59 | 0.6984 | 0.6984 | 0.00% | Dollar / Euro | 19:59 | 1.4317 | -0.0043 | -0.30% | Pound / Dollar | 19:58 | 0.6115 | -0.0005 | -0.08% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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28/07/2011 | 129 | 219 | 72 | 420 | 293,174,500 | R12,327,099,537 | 91747 | 1986393 | 27/07/2011 | 128 | 217 | 72 | 417 | 283,292,705 | R12,089,668,529 | 87196 | 1688708 | 26/07/2011 | 128 | 208 | 88 | 424 | 240,936,796 | R11,392,258,353 | 76522 | 1794137 | 25/07/2011 | 166 | 185 | 80 | 431 | 221,211,090 | R10,193,198,580 | 80476 | 1694154 | 22/07/2011 | 137 | 177 | 99 | 413 | 300,400,983 | R11,190,659,344 | 85818 | 1826340 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 28,099.81 | -147.68 | -0.52% | Industrial | 33,141.47 | 57.83 | 0.17% | Mid Cap | 42,244.68 | -97.79 | -0.23% | Small Cap | 32,077.83 | 49.91 | 0.16% | Resource 20 | 52,235.72 | -581.69 | -1.10% | Industrial 25 | 27,799.46 | 68.20 | 0.25% | Financial 15 | 7,964.29 | -47.81 | -0.60% | Financial & Ind. 30 | 30,694.94 | -4.74 | -0.02% | All Share | 31,446.39 | -147.60 | -0.47% | Oil & Gas | 25,735.69 | -491.52 | -1.87% | Mining | 34,362.84 | -361.74 | -1.04% | Gold Mining | 2,403.02 | -50.80 | -2.07% | Platinum Mining | 65.92 | -1.06 | -1.58% | Oil & Gas Producers | 13,837.61 | -264.28 | -1.87% | Basic Materials | 29,178.91 | -326.51 | -1.11% | Chemicals | 13,751.55 | -108.75 | -0.78% | Forestry & Paper | 13,905.74 | -304.85 | -2.15% | Industrial Metals | 30,172.56 | -537.72 | -1.75% | Industrials | 27,943.27 | -7.32 | -0.03% | General Industrials | 77,107.53 | 114.88 | 0.15% | Consumer Goods | 27,791.63 | 54.02 | 0.19% | Automobiles & Parts | 3,849.58 | 13.59 | 0.35% | Household Goods | 148.71 | 0 | 0.22% | Health Care | 33,217.44 | 137.37 | 0.42% | Beverages | 86.46 | .29 | 0.34% | Food Producers | 49,238.79 | -300.23 | -0.61% |
| | Index Name | RP | Move | % Move | Personal Goods | 436.16 | 1.20 | 0.28% | Consumer Services | 53,076.84 | -157.18 | -0.30% | General Retailers | 42,830.42 | 143.35 | 0.34% | Travel & Leisure | 3,834.24 | 28.86 | 0.76% | Media | 79.75 | -1.05 | -1.30% | Support Services | 2,363.13 | 6.45 | 0.27% | Telecommunications | 69,976.93 | 1201.88 | 1.75% | Financials | 21,275.64 | -113.70 | -0.53% | Banks | 39,198.06 | -175.33 | -0.45% | Non-life Insurance | 31,281.33 | 94.57 | 0.30% | Life Insurance | 15,697.96 | -98.21 | -0.62% | General Financial | 2,244.35 | -19.37 | -0.86% | Technology | 22,666.43 | -377.07 | -1.64% | SHARIAH TOP40 | 3,088.11 | -22 | -0.70% | FTSE/JSE SHARIAH ALL | 3,153.96 | -22 | -0.68% | COAL MINING | 23,559.86 | -440 | -1.83% | FTSE JSE Fledgling | 4,597.91 | -6 | -0.12% | FTSE/JSE Alt X | 1,172.78 | -7 | -0.62% | SA LISTED PROPERTY | 387.27 | | -0.41% | CAPPED PROPERTY | 319.06 | | -0.42% | RESOURCE | 28,833.69 | -336 | -1.15% | DIVIDEND PLUS | 169.69 | -1 | -0.39% | FTSE/JSE RAFI 40 | 6,525.14 | -33 | -0.50% | Capped Top 40 | 14,687.06 | -75 | -0.51% | Capped All Share | 15,858.61 | -74 | -0.47% |
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Latest Consensus Changes** Code | Company Name | Status | Updated | NPK | NAMPAK | HOLD | 26 Jul | ASA | ABSA GROUP LIMITED | BUY | 26 Jul | SHF | STEINHOFF INTERNATIONAL H... | BUY | 26 Jul | EMI | EMIRA PROPERTY FUND | HOLD | 26 Jul | FSR | FIRSTRAND LIMITED | BUY | 26 Jul |
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Results Expected** Expected | Company Name | Fin. Date | 29 Jul 2011 | ANGLO | June 2011 (Interim) | 29 Jul 2011 | ANGLO-P | June 2011 (Interim) | 29 Jul 2011 | ARCMITTAL | June 2011 (Interim) | 29 Jul 2011 | MERCANTILE | June 2011 (Interim) | 29 Jul 2011 | MERCANTP | June 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | BATS | 11-07-27 | 11-08-12 | 11-09-28 | R 0.3810 | ARCMITTAL | 11-07-27 | 11-08-26 | 11-09-05 | R 0.5500 | AMPLATS | 11-07-25 | 11-08-12 | 11-08-22 | R 5.0000 | AECI | 11-07-25 | 11-09-02 | 11-09-12 | R 0.7800 | ZURICH SA | 11-07-25 | 11-08-04 | 11-08-15 | R 1.0000 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | SBR003 | 11-05-05 | 11-07-22 | 11-08-05 | R 1.4900 | AVUSA | 11-06-23 | 11-07-22 | 11-08-01 | R 0.8500 | INVPLC | 11-05-19 | 11-07-22 | 11-08-08 | R 0.0900 | INVLTD | 11-05-19 | 11-07-22 | 11-08-08 | R 0.0900 | NAMPAK 6.5 | 11-06-23 | 11-07-22 | 11-08-01 | R 0.0650 |
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Upcoming AGMs** Code | Company Name | Date | Status | GDN | Gooderson Leisure Corporation Ltd | 28/07/2011 | Confirmed | TON | Tongaat Hulett Ltd | 29/07/2011 | Confirmed | WGRTSX | Witwatersrand Consolidated Gold Resource... | 29/07/2011 | Confirmed | WGR | Witwatersrand Consolidated Gold Resource... | 29/07/2011 | Confirmed | IVT | Invicta Holdings Ltd | 29/07/2011 | Unconfirmed |
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