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Friday, 19 August 2011 - 20:00
Charts
SAfrica 4-year bond yield at record low; stocks recover
By Xola Potelwa
JOHANNESBURG (Reuters) - The yield on South Africa's four-year government bond closed at a record low on Friday as prices rose on expectations the central bank would keep interest rates steady or even cut them before year-end, as the global growth outlook deteriorates.
Share prices recovered and ended in positive territory, lifted by an upturn in U.S. stocks, and helped the rand to recover. But some resources stocks such as gold miner Harmony Gold took a beating.
Bonds closed with the yield on the four-year note at a life-time low of 6.63 percent on the Johannesburg Stock Exchange, mainly driven by offshore buyers attracted by the higher yield, traders said.
"The bond market is closing exceptionally strong. We've seen buying of our bonds across the curve, the forward rate agreements are also suggesting the possibility of a rate cut going forward now as well," said Richard Farber, a bond trader at World Wide Capital Securities, based in Johannesburg.
Forward rate agreements are instruments used to gauge expectations of future interest rates and traders are starting to price in a slight chance of a South African rate cut early next year.
STOCKS RECOVER, BOOST RAND
Share prices recovered in tandem with U.S. stocks, but gold miner Harmony Gold plunged 5 percent, its biggest one-day fall in two months, as investors continued to punish the stock after the company posted a 67 percent fall in quarterly profit on Monday.
Its shares were the worst performer on the Johannesburg Top-40 benchmark index.
All three major U.S. indexes, the Dow Jones Industrial average, the Standard & Poor's 500 Index and the Nasdaq Composite Index, turned positive in early trade.
"We've recovered quite nicely on the back of the markets overseas that are recovering a little bit," said Rigardt Maartens, a portfolio manager at PSG Online Securities.
"There's so much negative news coming out of the global economy at this stage so it's difficult to predict when it's going to recover, but we expect a bit of a relief rally."
The JSE Top-40 ended 0.44 percent higher at 26,145.28 and the broader All-share index rose 0.31 percent to 29,378.69.
The general resources index dropped 0.84 percent.
Banks such as Absa Group and Standard Bank clawed back losses and gained 3.05 and 2.81 percent respectively.
The rand came back from the day's lows to trade at 7.18 by 1600 GMT, 0.17 percent off the New York close of 7.1920.
"It's come back a little bit purely as a play on what's been happening to equities. There was a lot of nervousness around this morning with Asia softer and then as Wall Street opened up a little bit firmer it has helped European and regional equities in this part of the world," said Nigel Rendell, senior strategist at RBC.
Fri, 19 Aug 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-08-19T152654Z_01_AJOE77I16WW00_RTROPTP_3_OZABS-AMPLATS-WAGES-20110819.JPG "Striking workers take part in a march at Emalahleni, 100km (60 miles) east of Johannesburg") South Africa's National Union of Mineworkers said Anglo American Platinum (Amplats), the world's largest platinum producer, again raised its wage offer on Friday, trying to head off a strike that could cause a jump in global prices of the precious metal. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-08-19T124339Z_01_AJOE77I0ZCT00_RTROPTP_3_OZABS-HARMONY-SHARES-20110819.JPG "The sun shines through the pit head at Harmony Gold Mine's Cooke shaft near Johannesburg") Shares in South Africa's Harmony Gold extended their losses on Friday to over six percent, bucking a positive upturn on the broader Johannesburg market as global stocks rebounded. Full story |
 Syrian forces shot dead 20 protesters on Friday despite a pledge by President Bashar al-Assad that a crackdown was over, activists said as thousands marched across Syria, spurred on by U.S. and European calls for him to step down. Full story  Taliban attackers laid siege to a British cultural centre in the Afghan capital Friday, killing at least nine people during an hours-long assault on the 92nd anniversary of Afghanistan's independence from British rule. Full story  A vast and jubilant crowd cheered as Gandhian activist Anna Hazare walked out of jail in New Delhi on Friday to carry on a hunger strike in public, the latest act in a drama of popular fury over corruption that has put India's government in a bind. Full story |
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SA Business |
South African benchmark stocks turned positive in late Friday trade, tracking U.S. equities that are trending higher.. . . Full story |
South Africa's National Union of Mineworkers members at Impala Platinum on Friday rejected a revised pay rise offer from the world's. . . Full story |
. . . Full story |
Renewed risk aversion kept South Africa's rand on the back foot against the dollar and a flight to safety supported bonds,. . . Full story | |||
Company News |
ARM's provisional financial results for the year ended 30 June 2011 (in comparison to the previous financial year ended 30 June. . . Full story |
The board of Trustco advised that at the AGM of shareholders held today, all the resolutions as set out in the. . . Full story |
Optimum informed shareholders about its acquisition of two prospecting rights ("the Remhoogte Prospecting Rights") for a cash consideration of R235 million. . . Full story |
Shareholders were advised that the annual report for the year ended 28 February 2011 will be dispatched to shareholders on 31. . . Full story | |||
Further to the announcements released on SENS on 25 May 2011 and 7 July 2011, shareholders are advised that discussions which relate to the company are still underway and as a. . . Full story |
Notice was given that the annual meeting of shareholders (the "meeting") of First Uranium Corporation (the "corporation") will be held at The National Club, 303 Bay Street, Toronto, Ontario, Canada, M5H. . . Full story |
Shareholders were referred to the firm intention announcement published by Voxtelcom on SENS on 14 July 2011 and in the press on 15 July 2011 regarding the terms on which Business. . . Full story | |||||
Company Results | Revenue increased to R9.3 billion (R7.5 billion). Net operating profit rose to R1.5 billion (R1.3 billion). Net attributable profit improved to. . . Full story | Sales revenue for the year ended 30 June 2011 decreased by 9.5% to R3.6 billion (2010: R3.9 billion). Operating profit plummeted. . . Full story | Revenue increased by 19% to R17.8 billion (R14.9 billion). Trading profit rose by 14% to R589.1 million (R685.6 million), but operating. . . Full story | Revenue rose by 13% to R8.7 billion (R7.7 billion) and gross profit increased by 16% to R4.5 billion (R3.8 billion). Trading. . . Full story |
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 19/08/2011 | 150 | 208 | 83 | 441 | 267,309,109 | R16,095,829,900 | 110797 | 2703587 |
| 18/08/2011 | 108 | 252 | 75 | 435 | 300,331,433 | R15,618,400,700 | 120320 | 2700764 |
| 17/08/2011 | 211 | 133 | 73 | 417 | 324,883,599 | R15,607,757,634 | 112016 | 2145923 |
| 16/08/2011 | 173 | 175 | 73 | 421 | 310,513,473 | R13,691,031,587 | 95856 | 2070276 |
| 15/08/2011 | 228 | 118 | 65 | 411 | 184,291,251 | R9,836,927,238 | 97873 | 2075785 |
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Stock Exchange News Service
| Date | Time | Headline |
| 19/08/2011 | 17:30 | Ipsa Group Plc - Result of Annual General Meeting |
| 19/08/2011 | 17:30 | Kairos Industrial Holdings Limited - Business update Brokrew |
| 19/08/2011 | 17:02 | Calgro M3 -Dealings in securities by directors |
| 19/08/2011 | 16:22 | OML - Old Mutual plc - Form 8.3 |
| 19/08/2011 | 16:20 | African Rainbow Minerals Limited - Trading statement in respect of the |
| 19/08/2011 | 15:53 | Vunani - Results of the Annual General Meeting |
| 19/08/2011 | 15:46 | STANSX - STANLIB SWIX 40 FUND - Partial delisting of STANLIBSX Securities |
| 19/08/2011 | 15:27 | Trustco - Results of Annual General Meeting, Appointment and Retirement of |
| 19/08/2011 | 15:24 | Pinnacle - Appointment of Director |
| 19/08/2011 | 15:16 | Interwaste Holdings Limited - Trading Update |
| 19/08/2011 | 15:05 | Clientele Limited - Final Dividend Declaration |
| 19/08/2011 | 15:04 | WG Wearne Limited - Change to the board |
| 19/08/2011 | 15:00 | Iliad Limited - Appointment of Chris Booyens as an Executive Director |
| 19/08/2011 | 13:28 | Murray & Roberts Holdings Limited - Updated trading statement |
| 19/08/2011 | 13:19 | INL/INP - Investec Limited/Investec plc - Form 8 DD |
| 19/08/2011 | 13:18 | INL/INP - Investec Limited/Investec plc - Form 8 (DD) |
| 19/08/2011 | 13:13 | Super Group Limited - Dealing in securities by Super Group Share |
| 19/08/2011 | 12:40 | Capital Shopping Centres Group Plc - Capital Shopping Centres Group Plc |
| 19/08/2011 | 12:04 | SA Corporate Real Estate Fund - Condensed consolidated unaudited interim |
| 19/08/2011 | 12:00 | Optimum Coal Holdings Limited - Acquisition of Remhoogte Prospecting |
| 19/08/2011 | 11:49 | BIABL - African Bank Limited - Interest Rate Reset Announcement |
| 19/08/2011 | 11:36 | Assore Limited - Unconditionality of financial assistance in respect of |
| 19/08/2011 | 11:35 | SBR002 - The Standard Bank of South Africa Limited - Interest Rate |
| 19/08/2011 | 11:16 | Finbond Group Limited - Results of Annual General Meeting |
| 19/08/2011 | 11:00 | Mustek Limited - Revised Trading Statement |
| 19/08/2011 | 10:36 | SCIB/GNDSTE - The Standard Bank of South Africa Limited - Dividend |
| 19/08/2011 | 09:51 | BRT/BRN - Brimstone Investment Corporation Limited - Posting of Circular |
| 19/08/2011 | 09:50 | INL/INP - Investec - Rule 2.10 of the UK City Code on Takeovers and Mergers |
| 19/08/2011 | 09:41 | PSV Holdings Limited - Change statement relating to the February 2011 |
| 19/08/2011 | 09:39 | Alert Steel Holdings Limited - Update to granting of options to turnaround |
| 19/08/2011 | 09:00 | Bell Equipment Limited - Further cautionary announcement |
| 19/08/2011 | 08:36 | First Uranium Corporation - Notice of Annual Meeting of Shareholders |
| 19/08/2011 | 08:00 | Pan African Resources Plc - Listing of Manica as a Separate Entity to |
| 19/08/2011 | 08:00 | Redefine Properties International Limited - Interim management statement |
| 19/08/2011 | 07:11 | SYN858 - Synthesis Funding Limited - New Financial Instrument Listing |
| 19/08/2011 | 07:10 | British American Tobacco p.l.c.- Transaction in own shares |
| 19/08/2011 | 07:10 | SYN857 - Synthesis Funding Limited - New Financial Instrument Listing |
| 19/08/2011 | 07:05 | Lonrho Plc - Notification of major interest in shares |
| 19/08/2011 | 07:05 | Vox - Vox Telecom Limited - Update announcement regarding posting of circular |
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