Having trouble reading this email? View in your web browser
 The Sharenet Daily 
Thursday, 08 September 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.African stocks end higher, bonds reverse losses

By David Dolan and Stella Mapenzauswa

JOHANNESBURG (Reuters) - South Africa stocks finished up 1.5 percent on Thursday, capping a volatile day of trade as insurer Sanlam rose on strong earnings and overseas expansion, while Impala Platinum was hammered on fears it would lose its Zimbabwe licence.

Government recouped some of Wednesday's losses and yields inversely headed back towards recent record lows after weak factory output data backed the case for interest rate cuts as the domestic economy struggles in line with a global slowdown.

The rand weakened slightly against the dollar, partly weighed down by the manufacturing data, but edged higher against a struggling euro after comments from the European Central Bank pointed to rates in the euro zone not rising in the short term.

Skittish investors briefly sent the Top-40 index of blue chips into negative territory after data showed continuing weakness in the U.S. labour market, raising further concern about the world's largest economy.

But that sell-off was short-lived, and Johannesburg stocks recovered in late trade, with banks and gold miners among the gainers.

"It's been a complete four seasons in one day," said Mitchell Gannaway, a trader at Thebe Securities.

The Top-40 index rose 1.5 percent to close at 27,607.75, its second straight advance and its highest finish in five sessions.

The broader All-Share index rose 1.3 percent to 30,918.00.

The yield on the 2015 government bond was down 14.5 basis points on the day at 6.33 percent, reversing Wednesday's gains in a move partly driven by data manufacturing output fell by 6.0 percent year-on-year in July, increasing the chance of an interest rate cut.

The yield on the 2026 issue fell 14 basis points to 7.765 percent.

On the bourse, Sanlam Ltd rose 3.2 percent to 27.82 rand after South Africa's second-largest insurer reported a 30 percent rise in first-half earnings and said it would pay $265 million to expand its presence in India.

"They have proven to be quite astute when they deploy capital," said Safs Narker, an equity analyst and portfolio manager at Momentum Asset Managers.

"There is risk in any market but management have proven that they are quite conservative when they make their investments."

Shares of Impala Platinum, the world's second-largest producer of the precious metal, tumbled after Zimbabwe's official state newspaper said the government has begun a process to suspend the licence of its Zimplats unit.

Implats, as the company is known, fell 3.4 percent to 170 rand. Zimbabwe is home to the world's second-largest platinum reserves.

"People are realising that things just aren't going to work out (for Implats) in Zimbabwe," said Thebe's Gannaway.

"I'm sure some people thought the government wasn't going to do anything."

Gold miners rose, helped by a 2 percent jump in the price of the precious metal. AngoGold Ashanti, Africa's largest gold producer, gained 3.5 percent to 337 rand.

The market was quite aggressively pricing in lower domestic rates, with forward rate agreements factoring in a 50 basis point reduction by April next year, bond traders said.

The July year-on-year drop in manufacturing, the first since November 2009, added weight to that view.

"The bonds found support today as the growth outlook for South Africa deteriorated. At this point in time, South African data is painting a similar picture to what we're seeing offshore," said Brigid Taylor, Head of Institutional Sales at Nedbank.

The yield spread between South Africa's two most liquid government bonds was around 145 basis points, indicating support for longer dated paper, Taylor added.

The rand was caught within a 7.05-7.25 range most of the day, with inflows into the debt market from foreigners off-setting a general aversion to riskier assets.

The currency traded at 7.1578 to the greenback by 1630 GMT, down 0.47 percent from Wednesday's close. It however rose 0.7 percent to 9.9644 versus the euro.

Thu, 08 Sep 2011
Top News
The company's gross gaming revenue was recorded at R316.2 million (2010: nil) and gross profit was at R131.9 million (2010: nil). Operating profit amounted to R17.7 million (2010: loss of R20.6 million), while net loss for the year was recorded at R22.7 million (2010: profit of R104.7 millio  Full story

Stunningly weak factory output data and another drop in business confidence on Thursday pointed to a dismal third quarter for South Africa's economy, supporting the case for a cut in interest rates already at 30-year lows.  Full story
The voice of Muammar Gaddafi boomed out from his hiding place on Thursday, denying he had fled Libya and cursing as rats and stray dogs those whose efforts to start governing in his place are being frustrated by his diehard followers.  Full story
Indian police detained five people for questioning on Thursday, including the owner of an Internet cafe, over an email allegedly claiming responsibility for a bombing that killed 12 people in New Delhi, police sources in Kashmir and local media said.  Full story
President Dmitry Medvedev demanded a rapid reduction in the number of domestic airlines on Thursday and said Russia may have to buy foreign aircraft to improve safety after a plane crash killed 43 people, including an ice hockey team.  Full story
SA Business
Glencore, the world's largest commodity trader, said on Thursday it had raised its stake in South African takeover target Optimum Coal. . .  Full story
South Africa's manufacturing output fell by more than expected in July, partly due to strikes that halted production, increasing the chance. . .  Full story
South Africa's gold output fell 3.5 percent in volume in July while total mineral production fell 5.1 percent compared with the. . .  Full story
South Africa's state-owned power company Eskom said on Thursday it has returned to service a unit at its Koeberg power plant. . .  Full story

South Africa insurer Sanlam will pay $265 million for about a quarter of India's Shriram Capital to increase its financial services. . .  Full story
South Africa's grain futures closed lower on Thursday, in line with a price fall in the United States.. . .  Full story
FirstRand, South Africa's second-largest bank, said on Thursday full-year earnings including one-time items are likely to more than double, boosted by. . .  Full story
South Africa's business confidence index dipped for the second month in a row to 98.6 in August from 99.0 in July,. . .  Full story

Workers at South African state-run utility Eskom are preparing to strike after wage talks failed, one union said on Thursday, prompting. . .  Full story
Shares of South African media group Avusa Ltd tumbled more than 7 percent in early trade on Thursday after buyout firm. . .  Full story
South Africa's bonds on Thursday gained back some of the ground lost in the previous session, with further gains seen if. . .  Full story
There is no reason why foreign purchases of government bonds, which have supported the rand currency, should not continue, said Reserve. . .  Full story
Company News
Ububele hereby advises that a reasonable degree of certainty exists that, for the year ended 30 June 2011: *headline earnings per. . .  Full story
Shareholders are referred to the announcement released on SENS ("SENS") of the JSE Ltd ("JSE") on 15 August 2011 whereby shareholders. . .  Full story
The board of directors therefore wishes to advise shareholders that the company expects to report a basic loss per share attributable. . .  Full story
Taste advised that the company's interim results for the six months ended 31 August 2011 are currently under review and it. . .  Full story

Shareholders are reminded that as a result of the unbundling of the Momentum Group, which was effective 30 November 2010, a significant non- recurring gain arose as a dividend in specie. . .  Full story
Shareholders are advised that the company's annual financial statements for the year ended 30 June 2011 were posted to shareholders on 8 September 2011 and contain no modifications to the reviewed. . .  Full story
In accordance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders of the company are advised that Mr. Myron Berzack has resigned as a non executive director of. . .  Full story
Company Results
Total revenue increased to R7.3 billion (R7.2 billion). Gross profit declined to R2.1 billion (R2.1 billion). Operating profit decreased to R679. . .  Full story
Revenue rose to R959.1 million (2010: R909.4 million), and gross profit grew to R420.9 million (2010: R350.1 million). Operating profit increased. . .  Full story
Group revenue decreased 3.4% to R1.5 billion from R1.6 billion in the year under review. Group operating profit decreased 23.3% to. . .  Full story
Turnover for the year ended June 2011 was higher at R4.3 billion (2010: R4.1 billion). Net profit from operating activities increased. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0030918.00403.401.32%
JSE Top 4017:0027607.75404.941.49%
JSE Gold17:002795.8371.612.63%
JSE Financial17:0021446.77361.441.71%
JSE Industrial17:0032922.51322.560.99%
JSE Indust 2517:0027780.62309.681.13%
JSE Resource17:0049914.50765.101.56%
DJ Futures20:0011290.00-130.00-1.14%
DJ Ind19:4511341.03-73.83-0.65%
SP 50020:001189.74-8.88-0.74%
FTSE 10017:355340.3821.790.41%
All Ords08:574269.806.900.16%
NZSE 5007:463308.0537.491.15%
NameTimeRPMove% Move
Gold/R kg20:00427401130773.16%
Brent Crude19:56115.14-.56-0.48%
Rand / Dollar19:587.17700.05550.78%
Rand / Pound19:5511.43450.08440.74%
Rand / Euro19:559.9746-0.0607-0.60%
Rand / NZD19:575.97760.04200.71%
Rand / AUD19:557.61030.01980.26%
Yen / Dollar19:5677.55000.35000.45%
Euro / Dollar19:550.71950.01031.45%
Dollar / Euro19:561.3900-0.0195-1.38%
Pound / Dollar19:550.62580.00040.06%

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

Major Moves Up
SharenameSaleMove% MoveVolume
1 BAUBA  2353517.50.%390
2 WITSGOLD  470064515.91.%2250
3 PLATMIN  310248.39.%430
4 ANOORAQ  500357.53.%69822
5 TASTE  11576.48.%178285
6 TRNSHEX  314165.37.%28393
7 TRENCOR  33001504.76.%44568
8 GBGOLD  1580654.29.%650
9 RMBH  2606963.82.%2495102
10 FIRSTRAND  2091763.77.%18092630
11 ABSA  144945193.71.%2016332
12 TRUWTHS  77942793.71.%1334821
13 NORTHAM  34961213.59.%496231
14 ANGGOLD  3370011513.54.%1519700
15 ABIL  36001223.51.%5091521
16 METROFILE  21473.38.%274903
17 SHOPRIT  115503713.32.%2507741
18 ASPEN  90002833.25.%1006995
19 SANLAM  2782873.23.%4629094
20 STEINHOFF  2269693.14.%5871839

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 SOVFOOD  460-40-8.00.%558
2 BELL  1400-70-4.76.%26748
3 CMH  1240-60-4.62.%729
4 CALGRO  110-5-4.35.%200000
5 PBT  130-5-3.70.%4997
6 AFGRI  586-22-3.62.%334311
7 IMPLATS  17000-599-3.40.%3748155
8 KEATON   290-10-3.33.%21865
9 DIGICOR  301-10-3.22.%188060
10 PARACON  182-6-3.19.%358000
11 WINHOLD  155-5-3.13.%191855
12 DISTELL  6800-199-2.84.%72681
13 HOSP-A  1280-35-2.66.%25784
14 VALUE  385-10-2.53.%206111
15 ELLIES   195-5-2.50.%60141
16 COMAIR  210-5-2.33.%6114
17 ALTRON  2540-60-2.31.%18236
18 AMA  180-4-2.17.%2000
19 RBPLAT  5628-122-2.12.%72266
20 PREMIUM  1469-30-2.00.%72035

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 ABSA  14494144945193.71.%2016332
2 SHOPRIT  11550115503713.32.%2507741
3 DRDGOLD  39640671.80.%656178
4 LIFEHC  18491895291.59.%3845488
5 SANTAM  13793139231931.42.%16986

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 AFGRI  586581-22-3.62.%334311
2 HOSP-A  12801265-35-2.66.%25784
3 HOSP-B  575575-5-0.86.%61699
4 RAINBOW  162587050.31.%72923

Click here for more Major Moves...

Index Summary
Index NameRPMove% Move
Top 4027,607.75404.941.49%
Mid Cap41,810.82229.650.55%
Small Cap31,085.81-16.37-0.05%
Resource 2049,914.50765.101.56%
Industrial 2527,780.62309.681.13%
Financial 158,049.47162.932.07%
Financial & Ind. 3030,745.88446.651.47%
All Share30,918.00403.401.32%
Oil & Gas 25,472.30610.942.46%
Mining 32,796.91439.401.36%
Gold Mining2,795.8371.612.63%
Platinum Mining63.25-1.27-1.97%
GENERAL MINING7,970.40125.921.61%
Oil & Gas Producers 13,695.99328.492.46%
Basic Materials 27,748.16371.291.36%
Chemicals 12,560.7868.720.55%
Forestry & Paper 12,548.85202.931.64%
Industrial Metals 27,912.29368.971.34%
Industrials 27,237.87213.990.79%
General Industrials 76,636.23608.570.80%
Consumer Goods 27,214.21486.571.82%
Automobiles & Parts 3,679.75-11.32-0.31%
Household Goods144.2043.14%
Health Care 33,808.21507.451.52%
Beverages 88.371.581.82%
Index NameRPMove% Move
Food Producers 48,968.66346.390.71%
Personal Goods 400.007.992.04%
Consumer Services 55,170.47373.250.68%
General Retailers 46,284.87854.571.88%
Travel & Leisure 3,639.66-18.74-0.51%
Media 80.06-.97-1.20%
Support Services 2,213.86-2.05-0.09%
Telecommunications 70,476.72-194.59-0.28%
Financials 21,446.77361.441.71%
Banks 40,523.99883.032.23%
Non-life Insurance 33,446.77468.001.42%
Life Insurance 15,650.87323.712.11%
General Financial 2,195.2443.872.04%
Technology 22,673.65-74.40-0.33%
SHARIAH TOP40 2,985.89471.59%
FTSE/JSE SHARIAH ALL3,049.76451.50%
COAL MINING26,347.256582.56%
FTSE JSE Fledgling 4,454.12-26-0.57%
FTSE/JSE Alt X 1,109.2080.69%
RESOURCE 27,653.074101.51%
DIVIDEND PLUS169.2421.10%
FTSE/JSE RAFI 406,411.661191.89%
Capped Top 4014,532.892131.48%
Capped All Share15,624.622031.32%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
12 Sep 2011BEE-SASOLJune 2011 (Final)
12 Sep 2011EOHJuly 2011 (Final)
12 Sep 2011SASOLJune 2011 (Final)
12 Sep 2011SILVERBJune 2011 (Final)
13 Sep 2011ASPENJune 2011 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
AFGRI11-09-0711-11-1111-11-21R 0.0320
KAP11-09-0611-09-2311-10-03R 0.1000
SHFINV-PREF11-09-0611-10-2111-10-31R 3.5500
WBHO11-09-0511-10-1411-10-24R 2.2000
A-V-I11-09-0511-09-2311-10-03R 0.7500
Ex Div**
Share NameDec-DateLDTPay-DateAmount
GRINDROD PREF11-08-1811-09-0211-09-12R 3.5700
NEDBANK11-08-0111-09-0211-09-12R 2.6500
JSE11-08-1611-09-0211-09-12R 2.1000
SBRJSEP1111-06-1511-09-0211-09-15R 1.4500
STANBANK11-08-1111-09-0211-09-12R 1.4100

Upcoming AGMs**
CodeCompany NameDateStatus
SSKStefanutti Stocks Holdings Ltd09/09/2011Confirmed
ACPAcucap Properties Ltd09/09/2011Confirmed
SIMSimmer and Jack Mines Ltd09/09/2011Unconfirmed
RDIRockwell Diamonds Inc09/09/2011Confirmed
MIXMiX Telematics Ltd13/09/2011Confirmed

Stock Exchange News Service
08/09/201117:51MWNT - Mine Waste Solutions (Proprietary) Limited - Distribution Announcement
08/09/201117:34 Grand Parade Investments Limited - Reviewed results for the year ended 30
08/09/201117:26 Ububele Holdings Limited - Trading Statement
08/09/201116:32 Chemical Specialities Limited - Updated terms announcement with regards to
08/09/201116:30OML - Old Mutual Plc - Form 8.3
08/09/201116:29OML - Old Mutual Plc - Form 8.3
08/09/201116:17EXXNIE - Nedbank - Dividend distribution announcement in relation to the EXX
08/09/201115:59 Wesizwe Platinum Limited - Trading Statement
08/09/201115:34 UCS Group Limited - Dealing in securities by a director
08/09/201115:28 Taste Holdings Limited - Preliminary trading update
08/09/201115:27BVTNIG - Nedbank Limited - Dividend distribution announcement in relation to the
08/09/201115:23NPNNIG - Nedbank Limited - Dividend distribution announcement in relation to the
08/09/201115:22ARINID - Nedbank Limited - Dividend distribution announcement in relation to the
08/09/201115:21STXNND - Nedbank Limited - Proposed distribution announcement in relation to the
08/09/201115:20STXNIH - Nedbank Limited - Proposed distribution announcement in relation to the
08/09/201115:14 Gold Fields Limited - Moody`s changes Gold Fields Baa3 credit rating
08/09/201115:14 African Brick Centre Limited - Change in the record date to
08/09/201113:56 Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf
08/09/201113:55GEN - Piruto B.V. - Dealings Disclosure
08/09/201113:46 Truworths International Limited - Director`s dealings
08/09/201113:36CLN000059 - The Standard Bank Of South Africa Limited - Interest Rate
08/09/201113:36CLN000047 - The Standard Bank Of South Africa Limited - Interest Rate
08/09/201113:30 Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of
08/09/201113:00 Capital Shopping Centres Group Plc - Notification of major interests
08/09/201113:00MND/MNP - Mondi - Employee Share Plans
08/09/201112:48ABL12B - African Bank Limited - Interest Rate Reset Announcement
08/09/201112:45INL/INP - Investec Limited/ Investec plc - Form 8 (DD)
08/09/201112:35INL/INP - Investec - Form 8 (DD)
08/09/201112:33CLN000058 - The Standard Bank of South Africa Limited - Interest rate
08/09/201112:32CLN000050 - The Standard Bank Of South Africa Limited - Interest Rate
08/09/201112:30CLN000046 - The Standard Bank of South Africa Limited - Interest rate
08/09/201112:21 FirstRand Limited - Trading statement
08/09/201112:18 Peregrine Holdings Limited - No change statement and notice of Annual
08/09/201112:15 Alert Steel Holdings Limited - Trading Statement for the year ended 30
08/09/201112:15MVGP - Mvelaphanda Group Limited - No change statement and notice of
08/09/201112:00 Amalgamated Appliance Holdings Limited - Change to the board of directors
08/09/201112:00 Spur Corporation Limited - Reviewed condensed consolidated results and
08/09/201111:58RCSC05 - RCS Investment Holdings (Proprietary) Limited - Interest rate
08/09/201111:55FRC73 - FirstRand Bank Limited - Listing of New Financial Instrument
08/09/201111:16 Nampak Limited - Investor site visits: Gauteng
08/09/201110:54 Beige Holdings Limited - Dealings in securities by directors and
08/09/201110:45SCIB - Standard Bank of South Africa Limited - Notice of rollover ratios of
08/09/201110:07 Curro Holdings Limited - Dealing in Curro Holdings Limited shares by an
08/09/201110:01CLR/CLRP - Clover Industries Limited - Declaration of preference share dividend
08/09/201110:00ACL138 - Absa Bank Limited -New Financial Instrument Listing
08/09/201110:00CLR/CLRP - Clover Industries Limited - Trading Statement
08/09/201109:55STXIDF - Investec Warrants - Distribution Announcement on Satrix 40 Enhanced
08/09/201109:54NPNIDD - Investec Warrants - Declared dividend announcement on Naspers
08/09/201109:50INL/INP - Investec - Rule 2.10 of the UK City Code on Takeovers and Mergers
08/09/201109:37BBET40 - The BettaBeta Equally Weighted Top 40 portfolio - Distribution
08/09/201109:30 Gold One International Limited - Notice of fulfilment of condition
08/09/201109:10 Firestone Energy Limited - Disclosure of significant holding Firestone
08/09/201109:00HPA/HPB - Hospitality Property Fund Limited - Dealings in securities by an
08/09/201109:00 Redefine Properties International Limited - Change of name
08/09/201108:47 Firestone Energy Limited - Appendix 3B
08/09/201108:03 Ipsa Group Plc - Appointment of New Chief Executive
08/09/201108:03RTO/RTN/RTOP - Rex Trueform Clothing Company Limited - Reviewed results for the
08/09/201108:02AOO /AON/AOVP - African & Overseas Enterprises Limited - Reviewed results for
08/09/201108:00 Sanlam Group - Sanlam Group Interim Results for the six months ended 30
08/09/201108:00STX40 - Satrix 40 - Listing of additional Satrix 40 securities
08/09/201107:15CAT/CATP - Caxton & CTP Publishers & Printers Limited - Reviewed results for the
08/09/201107:10 British American Tobacco p.l.c - Transaction in own shares
08/09/201107:05 Ceramic Industries Limited - Reviewed Preliminary Financial Results for

Click here for more SENS news