Tuesday, 02 August 2011 - 20:00
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Charts
S.Africa's bonds shine, global worries weigh on rand, stocks
By Phumza Macanda and Tiisetso Motsoeneng
JOHANNESBURG (Reuters) - South African government bonds rose on Tuesday, boosted by an auction which saw the strongest demand in a year with foreign buying a key feature.
Local shares and the rand weakened, falling victim to a re-emergence of worries about the debt crisis in the euro zone, which had taken a back seat to U.S. debt talk in the past two weeks.
Stocks hit five-week lows, falling more than one percent while the rand inched very close to the 6.80/dollar, a key level that would signal further losses if broken convincingly.
Yields on government bonds touched multi-month lows across the curve, after a strong weekly auction.
The yield on the 2015 bond hit a session low of 7.19 percent -- its lowest since January 5 -- before coming back to 7.21 percent, three basis points down from the previous close.
The 7.20 level is key for the 2015 bond and should it be pierced with conviction, the next support will be at 7.05 percent, last seen in late 2010.
The 2026 yield was down eight basis points from Monday's close at 8.315 percent, after falling to 8.29 percent earlier, its lowest since November 2010.
"It looks like foreigners still have decent appetite for local bonds," said Ion de Vleeschauwer, chief dealer at Bidvest Bank.
"Yields are still attractive and it doesn't look like there's space for interest rates to pickup in both the euro zone and the U.S, so that's supporting local bonds."
The sluggishness in the global economy has left little scope for tightening monetary policy, with the Bank of England and the European Central Bank both expected to leave rates unchanged this week.
On the foreign exchange market, the rand was trading at 6.75 to the dollar at 1540 GMT, 0.44 percent weaker than Monday's New York close of 6.7230.
The rand's near-term outlook is mixed.
"The global backdrop should continue to offer the dollar/rand momentum, and if eurozone woes deepen, the pair could be knocked back up to range highs," said Anisha Arora, junior emerging market analyst at 4CAST.
Some analysts said investors should however be wary of expecting sharp losses in the rand because inflows into the bond market are likely to support it.
STOCKS HIT
On the bourse, the JSE Top-40 blue-chip index was off 1.37 percent at 27,523.75 and the broader All-share index surrendered 1.23 percent to 30,871.78.
"The debt deal is a positive but now the guys are looking are growth prospects, which seem limited if one looks at the data that just came out," one Johannesburg-based trader said.
Industrial metal miners fell as demand worries pushed copper prices to one-week lows. Kumba Iron Ore led the decliners' list on the blue chip index, falling 4.69 percent to 503.42 rand, the biggest daily percentage decline in 4 1/2 months.
Elsewhere, Massmart, a retailer controlled by Wal-Mart, dipped 0.86 percent to 144.73 rand.
South African government said it would push Wal-Mart to re-jig the conditions of its $2.4 billion Massmart deal, as Pretoria looks to wring bigger concessions from the world's top retailer.
But gold miners capped losses on the bourse, boosted by higher bullion price and as workers ended a crippling pay strike. For details on the strike, double click on
Harmony climbed 4.6 percent to 96.50 rand, Gold Fields added 2.16 percent to 107.99 rand and AngloGold Ashanti was up 1.62 percent at 290 rand.
In earnings news, Absa was up 0.8 percent at 134.01 rand after posting above-forecasts first-half profit.
Tue, 02 Aug 2011
Top News
Anglo-Swiss miner Xstrata more than doubled its interim dividend on Tuesday and pointed to a stronger second half, as ongoing tightness in the copper market helps the group recover from a flood-hit start to 2011. Full story
Indian steel and power producer Monnet Ispat & Energy is conducting due diligence on two African coal assets in a bid to secure raw materials, the rising cost of which has squeezed profits, its managing director said. Full story |
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Forces loyal to Libya's Muammar Gaddafi killed seven rebels in a counter-attack in a key town on Tuesday, hospital sources said as the leader's camp vowed to push on with a war to crush a five-month uprising. Full storyThree suicide bombers attacked a guesthouse used by foreigners in the northern Afghan province of Kunduz on Tuesday, killing four Afghan security guards employed by a German company, a senior police detective said. Full storyEgyptian security authorities have received notice to move Hosni Mubarak to Cairo for trial, Al Arabiya television said on Tuesday, but a senior security source denied this, compounding fevered speculation about whether the ousted leader will attend. Full story |
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Markets | U.S. stocks dropped on Tuesday
on worries about a possible downgrade of the United States' top
credit rating and signs of economic weakness. . . Full story | | U.S. Treasuries jumped and gold
prices hit a record high, while global stocks turned negative
for the year on Tuesday as investors focused. . . Full story | | European shares hit their lowest
close in 11 months on Tuesday as weak global growth replaced the
U.S. debt ceiling row as investors'. . . Full story | | Gold surged more than
1 percent to all-time highs on Tuesday, as more weak U.S.
economic data fueled safe-haven buying on fears a. . . Full story |
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| Britain's top share index fell on
Tuesday, as worries over the size of government debt around the
world and its potential impact on. . . Full story | | The Nikkei average fell 1.2 percent
after weak U.S. manufacturing data fanned fears about the health
of the global economy and pushed the. . . Full story | | Australian shares dropped 1.4
percent on Tuesday as sluggish U.S. and global manufacturing
data compounded concerns about the health of the world economy.. . . Full story | | Stocks and commodities fell on
Monday on weak factory data, but pared losses toward the end of
the day on renewed hopes lawmakers. . . Full story |
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SA Business | Absa Group, the South African bank majority owned by Barclays, beat expectations with a 19 percent rise in first-half profit on. . . Full story | | South African government bonds rallied on Tuesday after a well-bid auction which saw one bidder pick up the whole stock of. . . Full story | | South Africa exported 34,640 tonnes of white maize last week compared with 5,867 tonnes in the previous week, the South African. . . Full story | | South Africa's government bonds were slightly weaker on Tuesday while the rand was little changed from overnight levels against the dollar. . . Full story |
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| First Uranium said it restarted its Mine Waste Solutions facility in South Africa on Tuesday after nuclear regulators suspended operations last. . . Full story | | South Africa said it would push Wal-Mart to rejig the conditions of its $2.4 billion Massmart deal, as Pretoria looks to. . . Full story | | Labour unions reached a wage deal with
mining companies on Tuesday to end a strike in South Africa's
gold mining sector.. . . Full story | | Ghana joined the club of
oil-producing nations in December and is getting used to its new
status as a low-middle-income country coveted by. . . Full story |
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| South Africa's Merafe Resources, the country's largest ferrochrome producer, reported a sharp drop in first-half earnings on Tuesday, hit by lower output and higher costs, but said it expects better trading conditions in the fourth quarter.. . . Full story |
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Company News | Shareholders were referred to the announcement dated Monday, 1 August 2011, whereby shareholders were notified, inter alia, that a special general. . . Full story | | Mr Andy Hall has been appointed deputy chief executive and financial director of Adcock with effect from 1 August 2011. In. . . Full story | | Stakeholders were advised that the earnings per share ("EPS") of the group for the half year ended 30 June 2011 ("the. . . Full story | | In terms of section 122(3)(b) of the Companies Act, 71 of 2008, as amended and paragraph 3.83(b) of the JSE Limited. . . Full story |
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| Rockwell Diamonds Inc updates the results of preliminary assessments of its alluvial diamond deposits on its properties in South Africa. Rockwell. . . Full story | | Shareholders are advised that with effect from 1 August 2011, Mr SN Susman and Mr RJ Abraham were appointed as an. . . Full story | | Shareholders are advised that Mr Malcolm Segal will be retiring as an executive director of the company and Sasfin Bank Ltd. . . Full story | | Discovery issued this pre-listing statement on Tuesday 2 August 2011, relating to listing of the B Preference Shares under the "Specialist. . . Full story |
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Company Results | Profit from operations increased from R2 888 million to R3 924 million in 2011. Profit attributable to ordinary shareholders increased to. . . Full story | | Net interest income for the interim period ended 30 June increased to R8.4 billion (2010: R7.7 billion). Operating income rose to. . . Full story | | Revenue grew to R4 billion (2010: R3 billion), while gross profit increased to R2.4 billion (2010: R1.4 billion). Profit attributable to. . . Full story | | Revenue for the interim period ended 30 June 2011 climbed to R1.3 billion (R1.2 billion) but earnings before interest, tax, depreciation. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 30871.78 | -385.53 | -1.23% | JSE Top 40 | 17:00 | 27523.75 | -381.52 | -1.37% | JSE Gold | 17:00 | 2499.86 | 57.32 | 2.35% | JSE Financial | 17:00 | 21066.10 | -240.54 | -1.13% | JSE Industrial | 17:00 | 32733.75 | -370.41 | -1.12% | JSE Indust 25 | 17:00 | 27440.84 | -344.57 | -1.24% | JSE Resource | 17:00 | 50600.07 | -809.37 | -1.57% | DJ Futures | 20:00 | 11915.00 | -116.00 | -0.96% | DJ Ind | 19:25 | 11996.19 | -136.30 | -1.12% | SP 500 | 19:20 | 1269.82 | -17.12 | -1.33% | Nasdaq | 19:20 | 2709.84 | -34.77 | -1.27% | FTSE 100 | 17:35 | 5718.39 | -56.04 | -0.97% | DAX | 18:00 | 6796.75 | -157.23 | -2.26% | CAC40 | 17:50 | 3522.79 | -65.26 | -1.82% | Nikkei | 08:26 | 9844.59 | -120.42 | -1.21% | Shanghai | 09:26 | 2679.26 | -24.52 | -0.91% | Hang-Seng | 10:46 | 22421.46 | -241.91 | -1.07% | All Ords | 08:37 | 4510.30 | -62.80 | -1.37% | NZSE 50 | 07:26 | 3397.00 | -16.83 | -0.49% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1644.42 | 24.99 | 1.54% | Gold/Rand | 20:00 | 11146.37 | 257.30 | 2.36% | Gold/R kg | 20:00 | 358356 | 7110 | 2.02% | Silver | 19:59 | 40.2200 | .9850 | 2.51% | Platinum | 19:59 | 1789.50 | 1.00 | 0.06% | Palladium | 19:59 | 822.75 | -2.50 | -0.30% | R157 | 17:06 | 7.20 | -.03 | -0.41% | R204 | 17:06 | 7.95 | -.06 | -0.69% | Brent Crude | 19:56 | 115.70 | -.13 | -0.11% | Rand / Dollar | 19:59 | 6.7783 | 0.0552 | 0.82% | Rand / Pound | 19:59 | 11.0008 | 0.0661 | 0.60% | Rand / Euro | 19:59 | 9.6128 | 0.0277 | 0.29% | Rand / NZD | 19:58 | 5.8895 | -0.0018 | -0.03% | Rand / AUD | 19:59 | 7.3205 | -0.0610 | -0.83% | Yen / Dollar | 19:58 | 77.0300 | -0.3300 | -0.43% | Euro / Dollar | 19:59 | 0.7048 | 0.0035 | 0.50% | Dollar / Euro | 19:58 | 1.4183 | -0.0075 | -0.53% | Pound / Dollar | 19:59 | 0.6140 | 0.0011 | 0.18% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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02/08/2011 | 105 | 240 | 72 | 417 | 286,345,912 | R14,293,271,164 | 107043 | 2107619 | 01/08/2011 | 191 | 136 | 96 | 423 | 185,713,258 | R10,921,912,180 | 91439 | 1732371 | 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 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 27,523.75 | -381.52 | -1.37% | Industrial | 32,733.75 | -370.41 | -1.12% | Mid Cap | 41,942.25 | -261.65 | -0.62% | Small Cap | 31,951.40 | -20.63 | -0.06% | Resource 20 | 50,600.07 | -809.37 | -1.57% | Industrial 25 | 27,440.84 | -344.57 | -1.24% | Financial 15 | 7,867.48 | -104.15 | -1.31% | Financial & Ind. 30 | 30,285.91 | -401.03 | -1.31% | All Share | 30,871.78 | -385.53 | -1.23% | Oil & Gas | 25,506.81 | -250.75 | -0.97% | Mining | 33,250.38 | -501.90 | -1.49% | Gold Mining | 2,499.86 | 57.32 | 2.35% | Platinum Mining | 63.36 | -.95 | -1.48% | Oil & Gas Producers | 13,714.54 | -134.83 | -0.97% | Basic Materials | 28,264.48 | -446.72 | -1.56% | Chemicals | 13,679.04 | -51.01 | -0.37% | Forestry & Paper | 13,382.03 | -155.51 | -1.15% | Industrial Metals | 29,757.77 | -1039.48 | -3.38% | Industrials | 27,646.28 | -265.36 | -0.95% | General Industrials | 76,020.00 | -1140.90 | -1.48% | Consumer Goods | 27,036.05 | -282.16 | -1.03% | Automobiles & Parts | 3,849.58 | .00 | 0.00% | Household Goods | 144.90 | -4 | -2.90% | Health Care | 32,890.29 | -385.28 | -1.16% | Beverages | 83.93 | -.06 | -0.07% | Food Producers | 49,178.38 | -289.82 | -0.59% |
| | Index Name | RP | Move | % Move | Personal Goods | 421.58 | -9.39 | -2.18% | Consumer Services | 52,828.99 | -820.62 | -1.53% | General Retailers | 43,025.23 | -135.23 | -0.31% | Travel & Leisure | 3,754.38 | -22.91 | -0.61% | Media | 79.30 | -2.12 | -2.60% | Support Services | 2,337.68 | 12.56 | 0.54% | Telecommunications | 70,635.53 | -351.16 | -0.49% | Financials | 21,066.10 | -240.54 | -1.13% | Banks | 38,941.11 | -325.05 | -0.83% | Non-life Insurance | 31,063.09 | -521.35 | -1.65% | Life Insurance | 15,406.00 | -320.01 | -2.03% | General Financial | 2,199.44 | -30.46 | -1.37% | Technology | 22,609.90 | 117.90 | 0.52% | SHARIAH TOP40 | 3,018.87 | -43 | -1.41% | FTSE/JSE SHARIAH ALL | 3,086.58 | -41 | -1.32% | COAL MINING | 23,806.44 | -577 | -2.37% | FTSE JSE Fledgling | 4,559.98 | -65 | -1.40% | FTSE/JSE Alt X | 1,164.40 | -10 | -0.84% | SA LISTED PROPERTY | 387.91 | | -0.48% | CAPPED PROPERTY | 318.31 | | -0.57% | RESOURCE | 27,988.83 | -403 | -1.42% | DIVIDEND PLUS | 168.30 | -2 | -0.89% | FTSE/JSE RAFI 40 | 6,389.21 | -87 | -1.34% | Capped Top 40 | 14,422.69 | -188 | -1.28% | Capped All Share | 15,581.88 | -190 | -1.20% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | CAT | CAXTON & CTP PUBLISHERS &... | BUY | 28 Jul | NPK | NAMPAK | HOLD | 28 Jul | ASA | ABSA GROUP LIMITED | BUY | 28 Jul | SHF | STEINHOFF INTERNATIONAL H... | BUY | 28 Jul | EMI | EMIRA PROPERTY FUND | HOLD | 28 Jul |
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Results Expected** Expected | Company Name | Fin. Date | 03 Aug 2011 | CAPCO | June 2011 (Interim) | 04 Aug 2011 | CAPITAL | June 2011 (Interim) | 04 Aug 2011 | LIB-HOLD | June 2011 (Interim) | 04 Aug 2011 | LIBHOLD-P | June 2011 (Interim) | 04 Aug 2011 | LIBHOLD-P1 | June 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | NEDBANK | 11-08-01 | 11-09-02 | 11-09-12 | R 2.6500 | NEDBANK-P | 11-08-01 | 11-08-19 | 11-08-29 | R 0.3347 | PALAMIN | 11-08-01 | 11-08-26 | 11-09-05 | R 9.3100 | ANGLO | 11-07-29 | 11-08-12 | 11-09-15 | R 0.2800 | SABVEST-N | 11-07-28 | 11-08-12 | 11-08-22 | R 0.0400 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | SABMILLER | 11-05-19 | 11-07-27 | 11-08-12 | R 0.6150 | MAS | 11-07-15 | 11-07-29 | 11-08-12 | R 0.0214 |
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Upcoming AGMs** Code | Company Name | Date | Status | MML | Metmar Ltd | 03/08/2011 | Confirmed | AFT | Afrimat Ltd | 03/08/2011 | Confirmed | TAS | Taste Holdings Ltd | 04/08/2011 | Confirmed | TDH | Tradehold Ltd | 04/08/2011 | Confirmed | TDHP | Tradehold Ltd | 04/08/2011 | Confirmed |
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