Thursday, 04 August 2011 - 20:00
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Charts
S.Africa's rand, stocks down on global worries bonds gain
By Phumza Macanda and Tiisetso Motsoeneng
JOHANNESBURG (Reuters) - South African government bonds extended a recent rally on Thursday, gaining sharply on the back of worries about the global economy that saw investors running to safer assets.
With few developments on the domestic front, the rand and stocks took their cue from battered global stocks, with the local bourse hitting 10-month lows.
Local stocks and the rand plunged as European Central Bank President Jean-Claude Trichet signalled the bank was resuming buying government bonds, confirming market fears that the euro zone debt crisis was worsening.
The JSE Top-40 blue-chip index fell 3.35 percent to 26,278.37, a level last seen on October 12, 2010. The broader All-share index gave up 3.01 percent to 29,601.61.
"We haven't seen any piece of good news today from Europe or the United States and all these (developments) add to worries about the global economy," Malcolm Moller, trader at Vunani Capital said.
The rand fell over 2.7 percent on the day and was trading at 6.8940 against the dollar from Wednesday's New York close of 6.7165.
"It's broad-based rand weakness. But I think this huge spike is not going to be sustained tomorrow, guys might be looking to take some profits towards the end of the week," said Sean Mccalghan, market analyst ETM.
The rand hit two-week lows at 6.9075, just a touch off its 200-day moving average at 6.9176, which could prompt further losses if broken decisively.
For now, such a move is unlikely, said Brigid Taylor, dealer at Nedbank.
"We are still advising selling dollars into weakness and still looking for 6.60 on dollar/rand in the medium term," she said, adding market players are likely to sell the dollar once the dust has settled in global markets.
The Reuters Econometer poll showed analysts were less pessimistic on the rand than in June, with the consensus seeing the rand ending the year at 7.01 to the dollar.
Among equity movers, Sappi posted its biggest daily decline since June 2009, falling 6.24 percent to 27.05 rand after reporting a bigger-than-than expected third-quarter loss.
AngloGold Ashanti was down 0.95 percent at 297.84 rand as investors focused on bleak outlook after the gold miner beat consensus with second-quarter earnings.
Other miners also fell as base metal prices slipped with copper hitting a one-month low on demand worries. Anglo American gave up 4.39 to 295.41 and BHP Billiton surrendered 3.37 percent to 228.12 rand.
Cadiz Holdings bucked the negative trend, rising 7.14 percent to 3 rand after France's BNP Paribas said it would pay $22 million for the stockbroking arm of the financial services group.
BONDS COULD RISE FURTHER
Government bonds pierced through key levels to hit new 9-months highs, with further gains seen as an accommodative domestic monetary stance, sound fiscal policy and low debt stock boost their appeal.
The 2015 bond yield hit a session low at 7.01 percent, before coming back to 7.095 by late trade.
"Below seven (percent) ...is not that far away and if we keep seeing this receiving interest from offshore investors in the bond market I'd expect bonds to be under pressure on the downside," said a local bond dealer.
The 2026 yield fell to 8.02 percent before coming back to 8.095 percent, 3.5 basis points down from the previous close.
"All the foreign buying from yesterday has made everyone a little bit short today. There's still some guys that were short and just finally covering their positions now," said another bond dealer.
Thu, 04 Aug 2011
Top News
Diamond producer De Beers, 45 percent owned by global miner Anglo American, said on Thursday it had signed a two-year wage deal with South Africa's National Union of Mineworkers, ending a 14-day strike. Full story
South Africa's National Union of Mineworkers (NUM) said on Thursday wage talks with state-owned power utility Eskom had collapsed and it would ask its members for a mandate to strike. Full story |
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A NATO service member was killed in an apparent "rogue" shooting by a man dressed as an Afghan policeman on Thursday, the coalition said, at least the fourth to be killed in a bloody 24 hours in one of Afghanistan's most volatile areas. Full storySonia Gandhi, India's ruling Congress party chief and the country's most powerful politician, will undergo surgery abroad, possibly in the United States, for an undisclosed medical condition and could be out for two to three weeks. Full story |
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Markets | World stocks plunged to new
lows for the year on Thursday with a sell-off in markets
accelerating sharply as investors fretted about the. . . Full story | | European stocks tumbled on
Thursday, with a key index of blue chip companies from the euro
zone dropping to a two-year low, as. . . Full story | | Investors fled stocks on
Thursday, putting the S&P 500 into correction territory, on
escalating worries about the U.S. economy and Europe.. . . Full story | | Gold tumbled from record highs
in volatile trade on Thursday as deepening losses on Wall
Street prompted investors to sell the metal and. . . Full story |
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| Britain's top share index tumbled
and closed lower for the fifth consecutive trading day on
Thursday, depressed by global growth concerns and sovereign. . . Full story | | European shares touched a fresh
11-month low on Thursday on a weakening outlook for the global
economy, with miners hardest hit as the. . . Full story | | The Nikkei average came off
five-week lows on Thursday after Japan intervened in currency
markets to stem the yen's climb and the central. . . Full story | | Australian shares fell 1.3
percent to 13-month lows on Thursday, reversing early gains, as
bank shares continued to fall on investor worries about. . . Full story |
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SA Business | South Africa's benchmark Top-40 index of blue chips tumbled 3.4 percent to its lowest close this year, as investors hammered everything. . . Full story | | South Africa's Liberty Holdings, Africa's No.3 life insurer by market value, posted an 18 percent rise in first-half profit on Thursday,. . . Full story | | South Africa's National Union of Mineworkers said on Thursday Impala Platinum had improved its wage offer in a bid to avert. . . Full story | | Shares in South Africa's Sappi tumbled on Thursday after the paper maker posted a bigger-than-expected third-quarter loss, hit by weak demand. . . Full story |
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| A surge in trade volume on the Johannesburg Stock Exchange sparked a delay in price data, an exchange spokeswoman said on. . . Full story | | Spot gold prices set yet another
new record high on Thursday after the European Central Bank
President Jean-Claude Trichet said the bank would. . . Full story | | Leading U.S. hotel chain Marriott International plans to add struggling South African independent hotels to its boutique-style hotel brand, the Autograph. . . Full story | | South Africa's Top-40 blue-chip index slid to a fresh nine-month low on Thursday, tracking global equities on worries about global economic. . . Full story |
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| South Africa's rand fell over two percent against the dollar and bonds extended earlier gains, with the benchmark 4-year paper breaking key resistance levels to trade at nine-month highs as foreigners. . . Full story | | BNP Paribas will pay $22 million for 60 percent of the stock broking arm of South African financial services firm Cadiz Holdings, as France's biggest bank looks to expand its reach. . . Full story | | South Africa's maize futures ended higher on Thursday supported by strong demand and a weaker rand, with analysts seeing further gains.. . . Full story |
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Company News | Bell is currently finalising its results for the six months ended 30 June 2011, which should be released on SENS on. . . Full story | | Shareholders are notified that at the company's annual general meeting held on 3 August 2011, the special resolutions and ordinary resolutions. . . Full story | | Lonfin, a UK investment finance and management company, announces the appointment of Mr Lloyd Hugh Marshall to its board as an. . . Full story | | The Financial Mail reported that Anglo's decision to increase its interim dividend by 12% to USD28cps is not generous when core. . . Full story |
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| Merchant shareholders are referred to the joint announcement of a firm intention by Marshall Monteagle Plc ("Marshall") to make a cash. . . Full story | | Investec plc notes the recent announcement made by The Evolution Group PLC ("Evolution") stating that it has received an indicative offer. . . Full story | | Shareholders are advised that the salient dates for the fourteenth dividend declaration on the variable rate non-cumulative, non-redeemable B preference shares. . . Full story | | Shareholders were referred to the cautionary announcement dated Thursday, 30
June 2011, and were advised that Cadiz has entered into agreements. . . Full story |
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Company Results | Revenue rose to GBP58.4 million (GBP59.2 million). Operating profit declined to GBP83 million (GBP92.2 million), but net attributable profit increased to. . . Full story | | Revenue for the period decreased to R1.8 million (2010: R12 million). Operating income declined to R51.3 million (2010: R792.6). Profit attributable. . . Full story | | Total revenue increased to R19.8 billion (R15.3 billion). Net attributable profit rose to R1.1 billion (R969 million). In addition, headline earnings. . . Full story | | Revenue increased from USD2.4 billion to USD3.2 billion in 2011. Gross profit rose to USD1.1 billion (June 2010: USD280 million) and. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 29601.61 | -918.82 | -3.01% | JSE Top 40 | 17:00 | 26278.37 | -911.44 | -3.35% | JSE Gold | 17:00 | 2533.32 | -32.62 | -1.27% | JSE Financial | 17:00 | 20381.65 | -444.86 | -2.14% | JSE Industrial | 17:00 | 31185.30 | -1098.79 | -3.40% | JSE Indust 25 | 17:00 | 25982.37 | -1044.51 | -3.86% | JSE Resource | 17:00 | 48594.52 | -1516.23 | -3.03% | DJ Futures | 19:20 | 11565.00 | -260.00 | -2.20% | DJ Ind | 19:45 | 11558.74 | -337.70 | -2.84% | SP 500 | 19:30 | 1227.56 | -32.78 | -2.60% | Nasdaq | 19:30 | 2620.65 | -72.42 | -2.69% | FTSE 100 | 17:35 | 5393.14 | -191.37 | -3.43% | DAX | 18:00 | 6414.76 | -381.99 | -5.62% | CAC40 | 19:26 | 3320.35 | -134.59 | -3.90% | Nikkei | 10:56 | 9659.18 | 22.04 | 0.23% | Shanghai | 10:56 | 2684.04 | 5.56 | 0.21% | Hang-Seng | 10:56 | 21884.74 | -107.98 | -0.49% | All Ords | 08:37 | 4352.90 | -55.40 | -1.26% | NZSE 50 | 10:56 | 3377.78 | 7.96 | 0.24% |
| | Name | Time | RP | Move | % Move | Gold | 19:57 | 1653.95 | -6.87 | -0.41% | Gold/Rand | 20:00 | 11462.37 | 312.82 | 2.81% | Gold/R kg | 20:00 | 368515 | 8043 | 2.23% | Silver | 19:58 | 38.9960 | -2.6940 | -6.46% | Platinum | 19:58 | 1719.00 | -57.50 | -3.24% | Palladium | 19:58 | 748.75 | -42.70 | -5.40% | R157 | 17:06 | 7.10 | -.02 | -0.28% | R204 | 17:06 | 7.78 | -.09 | -1.08% | Brent Crude | 19:56 | 107.25 | -5.76 | -5.10% | Rand / Dollar | 19:58 | 6.9303 | 0.2152 | 3.20% | Rand / Pound | 19:58 | 11.2493 | 0.2420 | 2.20% | Rand / Euro | 19:58 | 9.7971 | 0.1530 | 1.59% | Rand / NZD | 19:58 | 5.8498 | 0.0439 | 0.76% | Rand / AUD | 19:58 | 7.2985 | 0.0640 | 0.88% | Yen / Dollar | 19:58 | 78.8000 | 1.7300 | 2.25% | Euro / Dollar | 19:57 | 0.7074 | 0.7074 | 0.00% | Dollar / Euro | 19:57 | 1.4135 | -0.0219 | -1.53% | Pound / Dollar | 19:58 | 0.6141 | 0.0060 | 0.99% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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04/08/2011 | 91 | 293 | 65 | 449 | 478,723,591 | R18,955,620,384 | 154441 | 2529938 | 03/08/2011 | 108 | 255 | 68 | 431 | 389,699,684 | R21,947,306,526 | 142168 | 2286336 | 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 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 26,278.37 | -911.44 | -3.35% | Industrial | 31,185.30 | -1098.79 | -3.40% | Mid Cap | 41,060.56 | -547.35 | -1.32% | Small Cap | 31,481.29 | -315.56 | -0.99% | Resource 20 | 48,594.52 | -1516.23 | -3.03% | Industrial 25 | 25,982.37 | -1044.51 | -3.86% | Financial 15 | 7,557.32 | -198.34 | -2.56% | Financial & Ind. 30 | 28,761.69 | -1062.00 | -3.56% | All Share | 29,601.61 | -918.82 | -3.01% | Oil & Gas | 24,544.02 | -659.10 | -2.62% | Mining | 31,965.24 | -1013.33 | -3.07% | Gold Mining | 2,533.32 | -32.62 | -1.27% | Platinum Mining | 61.75 | -.97 | -1.55% | GENERAL MINING | 7,941.01 | -313.18 | -3.79% | Oil & Gas Producers | 13,196.87 | -354.38 | -2.62% | Basic Materials | 27,132.33 | -861.00 | -3.08% | Chemicals | 13,366.82 | -184.86 | -1.36% | Forestry & Paper | 12,491.22 | -625.90 | -4.77% | Industrial Metals | 28,146.30 | -717.63 | -2.49% | Industrials | 26,605.95 | -644.04 | -2.36% | General Industrials | 72,395.15 | -2277.53 | -3.05% | Consumer Goods | 25,703.41 | -911.81 | -3.43% | Automobiles & Parts | 3,847.32 | -43.02 | -1.11% | Household Goods | 136.95 | -8 | -5.28% | Health Care | 32,142.03 | -394.67 | -1.21% | Beverages | 81.19 | -.56 | -0.69% |
| | Index Name | RP | Move | % Move | Food Producers | 47,972.50 | -1172.89 | -2.39% | Personal Goods | 387.72 | -30.16 | -7.22% | Consumer Services | 51,009.63 | -1865.08 | -3.53% | General Retailers | 41,686.09 | -881.85 | -2.07% | Travel & Leisure | 3,703.96 | -38.05 | -1.02% | Media | 75.45 | -5.08 | -6.31% | Support Services | 2,329.11 | -2.85 | -0.12% | Telecommunications | 65,700.84 | -3239.97 | -4.70% | Financials | 20,381.65 | -444.86 | -2.14% | Banks | 37,463.91 | -1063.69 | -2.76% | Non-life Insurance | 30,068.88 | -499.53 | -1.63% | Life Insurance | 14,693.95 | -379.84 | -2.52% | General Financial | 2,118.23 | -58.04 | -2.67% | Technology | 21,757.01 | -700.84 | -3.12% | SHARIAH TOP40 | 2,881.13 | -100 | -3.37% | FTSE/JSE SHARIAH ALL | 2,954.29 | -96 | -3.16% | COAL MINING | 22,830.95 | -639 | -2.72% | FTSE JSE Fledgling | 4,545.44 | -14 | -0.31% | FTSE/JSE Alt X | 1,153.64 | 2 | 0.13% | SA LISTED PROPERTY | 386.98 | | -0.13% | CAPPED PROPERTY | 315.75 | | -0.33% | RESOURCE | 26,910.44 | -836 | -3.01% | DIVIDEND PLUS | 163.00 | -4 | -2.18% | FTSE/JSE RAFI 40 | 6,104.85 | -195 | -3.10% | Capped Top 40 | 13,784.36 | -474 | -3.32% | Capped All Share | 14,950.35 | -462 | -3.00% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | NPK | NAMPAK | HOLD | 02 Aug | ASA | ABSA GROUP LIMITED | BUY | 02 Aug | SHF | STEINHOFF INTERNATIONAL H... | BUY | 02 Aug | EMI | EMIRA PROPERTY FUND | HOLD | 02 Aug | FSR | FIRSTRAND LIMITED | BUY | 02 Aug |
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Results Expected** Expected | Company Name | Fin. Date | 05 Aug 2011 | ANOORAQ | June 2011 (Interim) | 05 Aug 2011 | INVPROP | March 2011 (Final) | 05 Aug 2011 | OLDMUTUAL | June 2011 (Interim) | 05 Aug 2011 | ROCKWELL | May 2011 (Q) | 08 Aug 2011 | DELTA | June 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | CAPCO | 11-08-03 | 11-08-19 | 11-09-20 | R 0.0050 | CAPITAL | 11-08-02 | 11-08-19 | 11-08-29 | R 0.3136 | ABSA | 11-08-02 | 11-08-19 | 11-08-29 | R 2.9200 | ABSABANK-P | 11-08-02 | 11-08-19 | 11-08-29 | R 28.5830 | CAPSHOP | 11-08-02 | 11-10-07 | 11-11-22 | R 0.0500 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | ZURICH SA | 11-07-25 | 11-08-04 | 11-08-15 | R 1.0000 | FOORDCMPS | 11-07-20 | 11-08-04 | 11-08-15 | R 0.3000 | MAS | 11-07-15 | 11-07-29 | 11-08-12 | R 0.0214 |
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Upcoming AGMs** Code | Company Name | Date | Status | VOD | Vodacom Group Ltd | 04/08/2011 | Confirmed | TDH | Tradehold Ltd | 04/08/2011 | Confirmed | TDHP | Tradehold Ltd | 04/08/2011 | Confirmed | TAS | Taste Holdings Ltd | 04/08/2011 | Confirmed | TSX | Trans Hex Group Ltd | 04/08/2011 | Confirmed |
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