Friday, 29 July 2011 - 20:00
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Charts
S.Africa's rand, bonds firmer, strikes weigh on stocks
By Helen Nyambura and Phumza Macanda
JOHANNESBURG (Reuters) - South Africa's rand regained some lost ground on Friday as exporters sold dollars, betting the local currency will keep its upward trend intact.
Stocks fell for a fifth straight day as concerns over a strike-induced supply shortfalls at heavyweight miners such as Anglo American weighed.
Government bonds tracked the rand higher, with the yield on the 2015 bond falling to six-month lows.
Short-term debt yields have fallen considerably in the past two weeks as uncertainty in global markets has encouraged investors to look for high-yielding assets.
Local credit data earlier showed monetary conditions locally are still weak, with ETM managing director George Glynos saying the Reserve Bank may have to keep interest rates at 30-year lows into the second half of 2012.
The trade account recorded a surplus of 4.9 billion rand in June but a 2.9 percent decline in imports pointed to weak domestic demand.
The rand was trading at 6.70 to the dollar at 1605 GMT, 0.42 percent firmer than Thursday's New York close.
The rand hit two-month highs of 6.6250 Thursday, and may re-test those levels next week.
"We still like the dollar/rand stronger and as such suggest selling into weakness above 6.75/80 for a move back below 6.60 toward the 6.53 support in the next week," said Brigid Taylor, chef dealer at Nedbank.
Charts also point to the rand maintaining a firmer trend. It is trading stronger than its 50-, 100- and 200-day moving averages and could maintain gains if it does not pierce 6.80.
A rally in the gold price has also supported the rand.
On fixed income, the yield on the 2015 bond was at 7.34 percent after hitting 6-month lows of 7.3150 earlier. The 2026 bond yield was at 8.505 percent after hitting a session low of 8.48 percent.
"Local bonds have been trading in tandem with the rand. It has recovered and that has supported bonds. Next week, it will pretty much be the same story of monitoring developments in the United States," said Alvin Chawasema, bond dealer at Renaissance BJM.
On the bourse, the Top-40 index fell 0.86 percent to 27,857.91 and has shed nearly 3 percent this week. The All-Share index lost 0.76 percent to 31,208.04.
Some 100,000 gold mine workers downed tools on Thursday at the country's top three gold producers, weighing on shares in the sector.
Despite the gold price scaling record highs above $1,630 an ounce Friday, the domestic gold index is down 5.3 percent this week.
Amplats fell 2.3 percent at 573 rand and Impala Platinum lost 2.2 percent to 171.40 rand.
Around four in every five ounces of platinum is mined out of South Africa, so supply disruptions in the republic have a significant effect on metals prices. The ongoing strikes have not spread to the platinum companies yet, but could if wage talks fail.
Fri, 29 Jul 2011
Top News
Gold hit another all-time high on Friday as investors sought a safe haven, after anemic U.S. growth data raised the prospect of recession if a deadlock over Washington's debt fails to be resolved quickly. Full story
Wage talks with unions to end a strike against the country's main gold miners have brought the sides closer together and negotiations will resume on Monday, South Africa's Chamber of Mines said on Friday. Full story |
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Libya's rebel military commander was shot dead in an incident shrouded in mystery, dealing a blow to the Western-backed forces struggling to topple Muammar Gaddafi. Full storyAn explosion at a Ukrainian coal mine killed at least 17 miners on Friday, the Emergencies Ministry said, the latest in a series of accidents that has raised concern over safety standards in the industry. Full storyNorwegians united in mourning on Friday as the first funerals were held a week after anti-Islam extremist Anders Behring Breivik massacred at least 77 people in attacks that traumatised the nation. Full story |
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Markets | U.S. stocks slid back into
the red on Friday after remarks from a prominent Senate
Democrat gave investors another reason to back away. . . Full story | | Financials were the main drag on
Britain's top share index on Friday, which fell sharply as
concerns grew over the fragile state of. . . Full story | | World stocks headed for their
biggest weekly loss in almost a year on Friday as investors
piled into safe havens on worries about. . . Full story | | - European stocks fell on
Friday, heading for their biggest weekly drop in four months, as
U.S. lawmakers' failure to break the deadlock. . . Full story |
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| U.S. stock index futures fell
on Friday after lawmakers in Washington delayed a vote on a
Republican proposal to raise the U.S. government's. . . Full story | | World stocks hit a 1-1/2 week
low on Friday, on track for their biggest weekly loss since
August 2010, as a Moody's threat. . . Full story | | Hong Kong shares fell on
Friday, ending the week and month little changed, as partisan
gridlock on U.S. debt talks kept markets choppy,. . . Full story | | Australian stocks closed weaker
for the third consecutive session on Friday as fears the United
States will default on its debt and worries. . . Full story |
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SA Business | Big South African banks are expected to show scant underlying growth when they report first-half earnings in coming weeks, as a. . . Full story | | Miner Anglo American forecast a strong end to 2011 as it recovers from a weather-battered start to the year, with production. . . Full story | | South Africa had a 4.9 billion randtrade surplus in June after recording a 1.0 billion rand shortfall in May, the South. . . Full story | | South African petrol pump prices in the main inland commercial region of Gauteng will increase by 17 cents a litre, or. . . Full story |
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| Gold hit another all-time
high on Friday as investors sought a safe haven, after anemic
U.S. growth data raised the prospect of recession. . . Full story | | Coal of Africa Ltd (CoAL) said it was forced to suspend some activity at its controversial Vele Colliery in South Africa. . . Full story | | Australian wholesale firm Metcash has extended a deadline to conclude a deal with South Africa's Pick n Pay to buy its. . . Full story | | The rand pulled back on Friday from a week-long rally that drove it to a near three-month high against the dollar. . . Full story |
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| Growth in credit demand by South Africa's private sector was little changed at 5.25 percent year-on-year in June from a slightly upwardly revised 5.22 percent in May, central bank data showed on Friday.. . . Full story |
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Company News | Further to the cautionary announcement dated 30 September 2010 and subsequent renewal of cautionary announcements, the last of which was dated. . . Full story | | Cape Point Vineyards (Pty) Ltd have applied through the High Court in Cape Town for an order to place the company. . . Full story | | Trustco has embarked on a policy of issuing quarterly trading updates, this
being the first, in order. . . Full story | | With regard to the audited results for the year ended 31 March 2011, shareholders of Foschini are advised that the annual. . . Full story |
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| In accordance with Regulation 98 of the Companies Act, 71 of 2008 ("the Act"), holders of ordinary shares in the company. . . Full story | | Mr Peet Snyders has resigned as an executive director of the company with effect from 31 July 2011.. . . Full story | | Shareholders are advised that all the resolutions set out in the Notice of Annual General Meeting were passed by the requisite. . . Full story | | DRDGOLD shareholders were advised that at the general meeting of shareholders held on 29 July 2011, all the special resolutions contained. . . Full story |
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Company Results | 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 | | Gross income from operations and investments for the interim period increased to R32.7 million (2010: R31.2 million), but net income for. . . Full story | | Net interest income dropped to R123.6 million (2010: R128.9 million). Operating profit declined to R75.6 million (2010: R78.2million), while profit attributable. . . Full story | | Sales revenue for the period ended 30 June 2011 rose to USD1.8 billion (USD1.2 billion) and gross profit jumped to USD219.7. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 31208.04 | -238.35 | -0.76% | JSE Top 40 | 17:00 | 27857.91 | -241.90 | -0.86% | JSE Gold | 17:00 | 2400.97 | -2.05 | -0.09% | JSE Financial | 17:00 | 21203.73 | -71.91 | -0.34% | JSE Industrial | 17:00 | 33024.83 | -116.64 | -0.35% | JSE Indust 25 | 17:00 | 27700.24 | -99.22 | -0.36% | JSE Resource | 17:00 | 51474.13 | -761.59 | -1.46% | DJ Futures | 19:50 | 12125.00 | -35.00 | -0.29% | DJ Ind | 19:21 | 12178.13 | -61.98 | -0.51% | SP 500 | 20:00 | 1297.77 | -2.90 | -0.22% | Nasdaq | 20:00 | 2768.89 | 2.64 | 0.10% | FTSE 100 | 15:08 | 5792.41 | -80.80 | -1.38% | DAX | 18:00 | 7158.77 | -31.29 | -0.44% | CAC40 | 17:46 | 3672.77 | -39.89 | -1.07% | Nikkei | 08:26 | 9833.03 | -68.32 | -0.69% | Shanghai | 09:22 | 2701.73 | -7.05 | -0.26% | Hang-Seng | 10:46 | 22440.25 | -130.49 | -0.58% | All Ords | 08:36 | 4500.50 | -38.70 | -0.85% | NZSE 50 | 07:26 | 3395.63 | -1.16 | -0.03% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1625.80 | 10.25 | 0.63% | Gold/Rand | 20:00 | 10881.64 | 0.95 | 0.01% | Gold/R kg | 20:00 | 349845 | 696 | 0.20% | Silver | 19:59 | 40.0550 | .3400 | 0.86% | Platinum | 19:59 | 1775.45 | -6.30 | -0.35% | Palladium | 19:59 | 823.13 | -2.37 | -0.29% | R157 | 17:06 | 7.32 | -.04 | -0.54% | R204 | 17:06 | 8.10 | -.05 | -0.55% | Brent Crude | 19:56 | 116.48 | -1.70 | -1.44% | Rand / Dollar | 19:59 | 6.6931 | -0.0400 | -0.59% | Rand / Pound | 19:59 | 10.9677 | -0.0215 | -0.20% | Rand / Euro | 19:59 | 9.6227 | -0.0225 | -0.23% | Rand / NZD | 19:58 | 5.8629 | -0.0037 | -0.06% | Rand / AUD | 19:59 | 7.3635 | -0.0520 | -0.70% | Yen / Dollar | 19:58 | 77.1500 | -0.5300 | -0.68% | Euro / Dollar | 19:59 | 0.6952 | -0.0025 | -0.36% | Dollar / Euro | 19:58 | 1.4377 | 0.0049 | 0.34% | Pound / Dollar | 19:59 | 0.6082 | -0.0024 | -0.39% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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29/07/2011 | 133 | 208 | 82 | 423 | 229,726,809 | R13,008,387,112 | 94592 | 1939938 | 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 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 27,857.91 | -241.90 | -0.86% | Industrial | 33,024.83 | -116.64 | -0.35% | Mid Cap | 42,142.19 | -102.49 | -0.24% | Small Cap | 32,042.75 | -35.08 | -0.11% | Resource 20 | 51,474.13 | -761.59 | -1.46% | Industrial 25 | 27,700.24 | -99.22 | -0.36% | Financial 15 | 7,932.92 | -31.37 | -0.39% | Financial & Ind. 30 | 30,572.06 | -122.88 | -0.40% | All Share | 31,208.04 | -238.35 | -0.76% | Oil & Gas | 25,424.03 | -311.66 | -1.21% | Mining | 33,859.97 | -502.87 | -1.46% | Gold Mining | 2,400.97 | -2.05 | -0.09% | Platinum Mining | 64.49 | -1.43 | -2.17% | Oil & Gas Producers | 13,670.03 | -167.58 | -1.21% | Basic Materials | 28,789.43 | -389.48 | -1.33% | Chemicals | 13,711.36 | -40.19 | -0.29% | Forestry & Paper | 13,884.32 | -21.42 | -0.15% | Industrial Metals | 30,208.37 | 35.81 | 0.12% | Industrials | 27,804.29 | -138.98 | -0.50% | General Industrials | 76,431.65 | -675.88 | -0.88% | Consumer Goods | 27,634.37 | -157.26 | -0.57% | Automobiles & Parts | 3,849.58 | .00 | 0.00% | Household Goods | 148.46 | -0 | -0.17% | Health Care | 33,024.53 | -192.91 | -0.58% | Beverages | 85.75 | -.71 | -0.82% | Food Producers | 49,254.87 | 16.08 | 0.03% |
| | Index Name | RP | Move | % Move | Personal Goods | 434.06 | -2.10 | -0.48% | Consumer Services | 52,779.47 | -297.37 | -0.56% | General Retailers | 42,750.70 | -79.72 | -0.19% | Travel & Leisure | 3,798.43 | -35.81 | -0.93% | Media | 79.15 | -.60 | -0.75% | Support Services | 2,354.03 | -9.10 | -0.39% | Telecommunications | 70,213.98 | 237.05 | 0.34% | Financials | 21,203.73 | -71.91 | -0.34% | Banks | 39,057.43 | -140.63 | -0.36% | Non-life Insurance | 31,889.98 | 608.65 | 1.95% | Life Insurance | 15,636.15 | -61.81 | -0.39% | General Financial | 2,227.43 | -16.92 | -0.75% | Technology | 22,687.41 | 20.98 | 0.09% | SHARIAH TOP40 | 3,055.45 | -33 | -1.06% | FTSE/JSE SHARIAH ALL | 3,123.06 | -31 | -0.98% | COAL MINING | 23,604.87 | 45 | 0.19% | FTSE JSE Fledgling | 4,609.02 | 11 | 0.24% | FTSE/JSE Alt X | 1,171.61 | -1 | -0.10% | SA LISTED PROPERTY | 387.66 | | 0.10% | CAPPED PROPERTY | 318.54 | | -0.16% | RESOURCE | 28,421.25 | -412 | -1.43% | DIVIDEND PLUS | 168.73 | -1 | -0.57% | FTSE/JSE RAFI 40 | 6,473.53 | -52 | -0.79% | Capped Top 40 | 14,570.75 | -116 | -0.79% | Capped All Share | 15,741.43 | -117 | -0.74% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | RBP | ROYAL BAFOKENG PLATINUM L... | HOLD | 27 Jul | EMI | EMIRA PROPERTY FUND | HOLD | 27 Jul | RDF | REDEFINE PROPERTIES LTD | HOLD | 27 Jul | RES | RESILIENT PROPERTY INCOME... | HOLD | 27 Jul | CSO | CAPITAL SHOPPING CENTRES ... | BUY | 27 Jul |
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Results Expected** Expected | Company Name | Fin. Date | 01 Aug 2011 | ANGLD | June 2011 (Interim) | 01 Aug 2011 | ANGLD-A | June 2011 (Interim) | 01 Aug 2011 | ANGLD-B | June 2011 (Interim) | 01 Aug 2011 | ANGLD-E | June 2011 (Interim) | 01 Aug 2011 | NEDBANK | June 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | MONDIPLC | 11-07-28 | 11-08-12 | 11-09-13 | R 0.0825 | MONDILTD | 11-07-28 | 11-08-12 | 11-09-13 | R 0.0825 | SABVEST | 11-07-28 | 11-08-12 | 11-08-22 | R 0.0400 | SABVEST-N | 11-07-28 | 11-08-12 | 11-08-22 | R 0.0400 | ARCMITTAL | 11-07-27 | 11-08-26 | 11-09-05 | R 0.5500 |
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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 | SABMILLER | 11-05-19 | 11-07-27 | 11-08-12 | R 0.6150 | INVLTD | 11-05-19 | 11-07-22 | 11-08-08 | R 0.0900 | INVPLC | 11-05-19 | 11-07-22 | 11-08-08 | R 0.0900 |
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Upcoming AGMs** Code | Company Name | Date | Status | IVT | Invicta Holdings Ltd | 29/07/2011 | Unconfirmed | 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 | AFT | Afrimat Ltd | 03/08/2011 | Confirmed |
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