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 The Sharenet Daily 
Monday, 22 August 2011 - 20:00
Top News
SA Business
Company News
Company Results
World Markets (Spot Prices)
JSE Today
JSE Trading Statistics
Major Moves
Index Summary
Latest Consensus Changes / Results Expected
Recent Dividends / Ex Div
Upcoming AGMs
Stock Exchange News Service (SENS)

S.Africa's bond market consolidates, stocks up

By Phumza Macanda and Tiisetso Motsoeneng

JOHANNESBURG (Reuters) - South Africa's government bonds took a breather on Monday, with yields coming off record lows as some dealers cashed in their holdings after a strong rally last week.

Weekly offshore buying of South African debt was at its highest in more than a year last week, pushing yields to record lows. But yields have bounced, particularly in the long end of the curve.

Stocks edged higher on bargain-hunting after last week's sharp decline while lingering worries about the health of the global economy boosted gold shares.

The rand softened against the dollar and was expected to remain vulnerable given elevated levels of aversion to risky assets.

It was trading at 7.22 to the dollar at 1528 GMT, 0.35 percent weaker than Friday's New York close of 7.1956.

After last week's wide gyrations, Monday's moves were relatively mild as dealers were looking to this week's annual meeting of the U.S. Federal Reserve for direction.

On the bond market, the yield on the 2015 bond ended at 6.56, seven basis points lower than Friday's close and off a session low of 6.46 percent. The 2026 bond yield went up eight basis points to 7.945 percent.

"The market is trying to find more suitable levels after the overbought levels we saw earlier but I don't think the (bullish) trend changes ," said Ian Scott, a dealer at Stanlib.

Increasing expectations that the South African Reserve Bank could cut the repo rate towards year-end from the current 5.5 percent have in part driven bond market gains.

Rates on the FRA (forward rate agreements) market have pointed to a 50-50 chance of such a scenario, with the 3x6 contract falling to 5.4 percent.

But the market may be running ahead of itself with that expectation and the bond market could see more losses this week, said Ion de Vleeschauwer, chief dealer at Bidvest Bank.

"We would need to see a substantial decline in growth."

"The Reserve Bank's mandate is still inflation targeting and I can't see them cutting rates with inflation still above five percent. We are going to have a stable rates environment for some time," he added.

Inflation data later this week will give the market some direction. July's consumer inflation data on Wednesday is expected to come it at 5.2 percent year-on-year up from 5.0 percent in June.

A higher-than-expected reading should see the market curb monetary loosening forecasts, to add to the 650 basis points worth of rate decreases between December 2008 and end-2010.


The JSE Top-40 blue-chip index was up 0.17 percent at 26,188.71 and the broader All-share index gained 0.19 percent to 29,433.12.

"A lot of these stocks have reached levels where investors see some value," Ferdi Heyneke, a portfolio manager at Afrifocus Securities said. "But the mood is still fragile and it should remain volatile in the coming sessions."

Among the equity movers, Harmony jumped 4.63 percent to 90.92 rand after the gold miner said its operations in Papua New Guinea were not threatened by plans to shift mineral ownership there to local communities from the state.

Rivals Gold Fields added 3.36 percent to 124.65 rand and AngloGold Ashanti improved 2.55 percent to 333 rand.

Gold prices retreated from record highs near $1,900 an ounce on Monday but they remain elevated due to lingering economic worries.

Grindrod booked its biggest daily gain nearly three months after shipping firm said it was considering taking a 2 billion rand cash injection from a potential strategic partner. Shares in the company rallied 6.06 percent to 14 rand.

Mon, 22 Aug 2011
Top News
The CEO of Harmony Gold, the world's fifth largest gold producer, said reported plans to shift mineral ownership in Papua New Guinea to local communities from the state would complicate negotiations but nationalisation was not being discussed.  Full story

Yields on South African government debt hit new lows on Monday, still driven by expectations that interest rates would not rise this year and aggressive foreign buying as concerns about global growth drive investors to higher yielding local bonds.  Full story
Muammar Gaddafi was a hunted man on Monday as loyal remnants of his forces made last-ditch stands in the capital and world leaders rushed to embrace the fractious Libyan rebels as new masters of the oil-rich state.  Full story
Hurricane Irene swept just north of the Dominican Republic on Monday after pummelling Puerto Rico, and forecasters saw the storm strengthening to a major hurricane off the Southeast U.S. coast by the weekend.  Full story
Egypt announced plans to develop a region bordering Israel Monday after Israeli officials blamed its loosening grip on the area for the killing of eight Israelis by armed militants, inflaming tensions between the two neighbours.  Full story
SA Business
Absa Group, the South African bank majority owned by Barclays, has bought Mozambican insurer Global Alliance Seguros and plans another acquisition this year, the Business Day newspaper reported on Monday.. . .  Full story

CVC Capital Partners is financing its acquisition of a majority stake in international health club operator Virgin Active with around 450 million pounds ($745.7 million) of equity, sources familiar with the matter said.. . .  Full story
An institutional investor with Kenya's infrastructure investment firm TransCentury has opted to switch its holding of the firm's convertible bond into equity, which should increase the profitability of the firm, a senior executive said.. . .  Full story
Company News
Shareholders are referred to the cautionary announcement released on SENS on 11 July 2011 and advised that discussions regarding the offshore. . .  Full story
Shareholders were referred to the previous cautionary announcements dated 4 January 2011, 20 January 2011, 15 February 2011, 25 March 2011,. . .  Full story
Shareholders are referred to the announcements released on SENS on 14 June 2011 and 5 August 2011 wherein Afdawn shareholders were. . .  Full story
Shareholders are referred to the announcement on 5 May 2011 pertaining to the pending appointment of Mr Wenliang (Michael) Ma as. . .  Full story

Shareholders were advised that five of the group's subsidiary companies have been placed in provisional liquidation following the applications for liquidation by Investec Bank Ltd following the decision by the business. . .  Full story
Shareholders were advised that the company has entered into negotiations with a potential strategic partner and provider of growth capital ("Potential Strategic Partner") regarding a potential capital injection of up to. . .  Full story
Aquarius Platinum confirms recent media comment to the effect that its (indirectly held) Zimbabwean subsidiary, Mimosa Holdings (Pvt) Ltd ("Mimosa"), received a letter on Friday, 19 August 2011 from the Minister. . .  Full story
Company Results
Revenue improved by 7% to R791 million (R740.2 million) and earnings before interest, taxation, depreciation and amortisation ("EBITDA") was up by 7% R143.3 million (R133.9 million). Operating profit before interest rose by 10% to R110.2 million (R100.5 million), while profit for. . .  Full story
Insurance premium revenue was up by 11% to R1.1 billion (R1 billion). Net attributable profit rose by 22% to R195 million (R159.7 million). In addition, headline earnings per share grew by 25% to 61.65c (49.31cps). Dividend A final ordinary dividend of 53.50cps. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0029433.1254.430.19%
JSE Top 4017:0026188.7143.430.17%
JSE Gold17:002781.6785.113.16%
JSE Financial17:0020563.0528.670.14%
JSE Industrial17:0031109.4830.110.10%
JSE Indust 2517:0026014.6117.490.07%
JSE Resource17:0047790.4194.450.20%
DJ Futures20:0010880.0060.000.55%
DJ Ind19:4510882.0564.400.60%
SP 50020:001127.523.990.36%
FTSE 10017:355095.3054.541.08%
All Ords08:354150.80-21.10-0.51%
NZSE 5007:463274.44-11.78-0.36%
NameTimeRPMove% Move
Gold/R kg20:00438951122692.88%
Brent Crude19:56107.89-1.08-0.99%
Rand / Dollar19:597.21400.03240.45%
Rand / Pound19:5511.86380.06080.52%
Rand / Euro19:5510.37880.05400.52%
Rand / NZD19:575.95870.08231.40%
Rand / AUD19:557.53130.06850.92%
Yen / Dollar19:5876.7300-0.1400-0.18%
Euro / Dollar19:550.69570.00030.04%
Dollar / Euro19:581.4371-0.0003-0.02%
Pound / Dollar19:550.60690.00040.07%

Click here for the Sharenet Spot Price page
The JSE Today
Trading Statistics

Major Moves Up
SharenameSaleMove% MoveVolume
1 SABLE  149014010.37.%421
2 ANOORAQ  450409.76.%33286
3 BLUETEL  492388.37.%2934131
4 PAN-AF  153106.99.%2310127
5 NICTUS  180105.88.%1250
6 DRDGOLD  344175.20.%639769
7 BLACKSTAR  1050515.11.%659
8 BELL  1470705.00.%4925
9 BAUBA  20094.71.%75679
10 HARMONY  90924024.63.%3289656
11 UNIVERSAL  250104.17.%18400
12 TREMATON  15064.17.%3730
13 TRUWTHS  76642753.72.%1593393
14 CERAMIC  114004003.64.%750
15 GFIELDS  124654053.36.%1530468
16 MRHLD  2769792.94.%1340208
17 DIPULA-B  570152.70.%14600
18 ANGGOLD  333008282.55.%2405271
19 NASPERSN  341098452.54.%1927924
20 AFGRI  629142.28.%21870

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Major Moves Down
SharenameSaleMove% MoveVolume
1 OANDO  204-43-17.41.%23050
2 AFOVR-N  1100-150-12.00.%1500
3 NUWORLD  2000-250-11.11.%500
4 MARSHALL  630-65-9.35.%8580
5 DAWN  500-50-9.09.%27456
6 SABVEST-N  800-80-9.09.%200
7 COMAIR  210-20-8.70.%4200
8 AQUARIUS  2727-173-5.97.%5687
9 ARGENT  710-45-5.96.%8669
10 HULAMIN  700-40-5.41.%49528
11 PALCAP  180-10-5.26.%39984
12 BEIGE-PR2  105-5-4.55.%1532
13 ARB  320-15-4.48.%9500
14 PHUMELELA  1100-50-4.35.%4500
15 TRENCOR  3405-145-4.08.%24602
16 HOWDEN  1350-50-3.57.%15
17 VERIMARK  150-5-3.23.%21950
18 PLATMIN  300-10-3.23.%3500
19 RAINBOW  1610-50-3.01.%1590
20 ABSA  13100-400-2.96.%1369806

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New Highs
SharenameSaleHighMove% MoveVolume
1 PAN-AF  153156106.99.%2310127
2 BLACKSTAR  10501050515.11.%659
3 DIPULA-B  570570152.70.%14600
4 MASSMART  15280154602801.87.%433592
5 BATS  3174132502410.13.%1378580

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New Lows
SharenameSaleLowMove% MoveVolume
1 HOLDSPORT  29802950-49-1.62.%6591
2 PICKNPAY  37693731190.51.%1137308
3 ARCMITTAL  58305617581.00.%231547

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Index Summary
Index NameRPMove% Move
Top 4026,188.7143.430.17%
Mid Cap40,382.68154.200.38%
Small Cap30,837.79-104.08-0.34%
Resource 2047,790.4194.450.20%
Industrial 2526,014.6117.490.07%
Financial 157,679.7613.980.18%
Financial & Ind. 3028,975.9217.430.06%
All Share29,433.1254.430.19%
Oil & Gas 23,465.99-191.02-0.81%
Mining 31,554.29151.340.48%
Gold Mining2,781.6785.113.16%
Platinum Mining62.80.590.95%
GENERAL MINING7,574.84-26.17-0.34%
Oil & Gas Producers 12,617.23-102.71-0.81%
Basic Materials 26,675.88111.900.42%
Chemicals 12,730.7848.200.38%
Forestry & Paper 11,969.07-135.23-1.12%
Industrial Metals 26,190.2953.130.20%
Industrials 26,281.01-23.46-0.09%
General Industrials 72,553.17-280.23-0.38%
Consumer Goods 25,523.67-84.88-0.33%
Automobiles & Parts 3,598.22-92.85-2.52%
Household Goods136.57-2-1.78%
Health Care 32,133.73132.230.41%
Beverages 82.78-.20-0.24%
Index NameRPMove% Move
Food Producers 47,599.87-118.18-0.25%
Personal Goods 370.14-.90-0.24%
Consumer Services 51,883.16927.241.82%
General Retailers 43,316.50790.491.86%
Travel & Leisure 3,576.25-31.11-0.86%
Media 75.361.812.46%
Support Services 2,293.02-11.27-0.49%
Telecommunications 66,525.11-652.86-0.97%
Financials 20,563.0528.670.14%
Banks 38,581.8248.570.13%
Non-life Insurance 30,444.74147.920.49%
Life Insurance 14,878.87103.650.70%
General Financial 2,070.88-11.11-0.53%
Technology 21,782.23-41.98-0.19%
SHARIAH TOP40 2,842.7010.04%
FTSE/JSE SHARIAH ALL2,913.2920.07%
COAL MINING22,206.10-69-0.31%
FTSE JSE Fledgling 4,450.55-28-0.62%
FTSE/JSE Alt X 1,124.71-14-1.23%
CAPPED PROPERTY 309.78-0.14%
RESOURCE 26,452.66820.31%
DIVIDEND PLUS161.5110.37%
FTSE/JSE RAFI 406,093.1100.01%
Capped Top 4013,781.43290.21%
Capped All Share14,872.91300.20%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
23 Aug 2011BRIMST-NJune 2011 (Interim)
23 Aug 2011BRIMSTONJune 2011 (Interim)
23 Aug 2011EQSTRAJune 2011 (Final)
23 Aug 2011EQSTRADAJune 2011 (Final)
23 Aug 2011EQSTRADBJune 2011 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
SA CORP11-08-1911-09-1611-09-26R 0.1435
CLIENTELE11-08-1911-09-0211-09-12R 0.5350
GRINDROD PREF11-08-1811-09-0211-09-12R 3.5700
GRINDROD11-08-1811-09-0211-09-12R 0.1750
TRENCOR11-08-1811-09-0911-09-19R 0.5000
Ex Div**
Share NameDec-DateLDTPay-DateAmount
ABSABANK-P11-08-0211-08-1911-08-29R 28.5830
FIRSTRANDB-P11-08-0411-08-1911-08-29R 3.0516
ABSA11-08-0211-08-1911-08-29R 2.9200
NEDBANK-P11-08-0111-08-1911-08-29R 0.3347
CAPITAL11-08-0211-08-1911-08-29R 0.3136

Upcoming AGMs**
CodeCompany NameDateStatus
PKHProtech Khuthele Holdings Ltd23/08/2011Unconfirmed
ANSAnsys Ltd24/08/2011Confirmed
CDZCadiz Holdings Ltd24/08/2011Confirmed
MPCMr Price Group Ltd25/08/2011Confirmed
MPCBMr Price Group Ltd25/08/2011Confirmed

Stock Exchange News Service
22/08/201117:50BIIVU - Ivuzi Investments Limited - Listing of Tap Issues
22/08/201117:44BIIND - iNdwa Investments Limited - Listing of new financial instrument and
22/08/201117:40 UCS Group Limited - Posting of Circular and Notice of General Meeting
22/08/201117:39 Paladin Capital Limited - Curro unbundling
22/08/201117:24 Nutritional Holdings Limited - Proposed dual listing of Nutritional
22/08/201117:09 Redefine Properties International Limited - Changes to the board of
22/08/201117:00 Redefine Properties International Limited - Admission of ordinary shares
22/08/201117:00 Clientele Limited - Reviewed summarised group results for the year ended
22/08/201116:44 Redefine Properties International Limited - Offer for Redefine
22/08/201116:43 Redefine Properties International Limited - Offer for Redefine
22/08/201116:30OML - Old Mutual Plc - Form 8.3
22/08/201116:30 Imperial Holdings Limited - Further Cautionary Announcement
22/08/201116:29OML - Old Mutual Plc - Form 8.3
22/08/201115:03BITRA - Transnet SOC Limited - Audited Condensed Consolidated Financial
22/08/201115:01 Bonatla - Renewal of Cautionary Announcement
22/08/201114:55 Wearne - General Issue of Shares for Cash and Withdrawal of the
22/08/201114:49MND/MNP - Mondi Limited/ Mondi plc - Notification of major interests in shares
22/08/201114:19 African Dawn Capital Limited - Posting of the rights offer circular
22/08/201114:12 Wesizwe Platinum Limited - Management changes at Wesizwe Platinum
22/08/201114:00 Pinnacle Point Group Limited - Update announcement and renewal of
22/08/201113:27 Intertrading Limited - Disclosure of disposal and acquisition of
22/08/201113:00 Murray & Roberts Holdings Limited - Results of the resolution of ordinary
22/08/201112:42GND/GNDP - Grindrod - Cautionary Announcement
22/08/201112:27INL/INP - Investec - Form 8 (DD)
22/08/201112:08INL/INP - Investec - Form 8 (DD)
22/08/201110:58INVS - Investec Bank Limited - Amendment announcement the issue of enhanced
22/08/201110:54 PSG Group Limited - Results of the General Meeting
22/08/201110:38 BSI Steel Limited - Dealing in securities by directors
22/08/201110:36BIBG3 - Blue Granite Investments NO. 3 (PROPRIETARY) Limited - Notice of a
22/08/201110:22 South African Coal Mining Holdings Limited - Change to the board of
22/08/201110:01 Trematon Capital Investments Limited - Dealing in Securities by
22/08/201109:50INL/INP - Investec - Rule 2.10 of the UK City Code on Takeovers and Mergers
22/08/201109:15ACL132 - Absa Bank Limited - New Financial Instrument Listing
22/08/201109:14ABN38 - Absa Bank Limited - New Financial Instrument Listing
22/08/201109:00 ADvTECH Limited - Interim results for the six months ended 30 June
22/08/201108:05 Aquarius Platinum Limited - Media comment in respect of Zimbabwean
22/08/201107:10 British American Tobacco p.l.c - Transaction in own shares
22/08/201107:06INVS - Investec Bank Limited - The issue of hot enhanced dividend securities
22/08/201107:05 Gold One International Limited - Notice of initial substantial holder
22/08/201107:05BHP - BHP Billiton plc - BHP Billiton`s tender offer to acquire Petrohawk
22/08/201107:05INVS - Investec Bank Limited - The issue of hot enhanced dividend securities

Click here for more SENS news