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 The Sharenet Daily 
Monday, 12 September 2011 - 20:01
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 bonds fall on risk flight, stocks tumble

By Stella Mapenzauswa and David Dolan

JOHANNESBURG (Reuters) - South Africa's rand fell almost 2 percent to a near 5-week low against the dollar on Monday, the worst performer in a basket of EM currencies, on a global wave of risk aversion that also hit government bonds and sent yields soaring.

Stocks tumbled for the second straight session, falling more than 2 percent as investors hit index heavyweights such as MTN Group as part of a world-wide sell-off on renewed European debt worries.

The rand touched a session low of 7.4099 to the greenback -- its weakest level since August 9 -- and was at 7.40 by 1543 GMT, down from Friday's close at 7.2714.

It fell the most against the dollar among 20 emerging market currencies monitored by Reuters.

"There are just too many negative signals from the global backdrop at this stage, and with local bonds suffering on the back of risk aversion following recent strong rallies, the rand may be taking a hit on the back of that," said Anisha Arora, emerging market analyst at 4CAST.

"There is still feeling of a growing possibility of a rate cut, and the dollar index which the dollar/rand cross closely follows is above key long term trend level - both factors which only further weighs on the rand."

The flight to risk felled government bonds and some traders said the local debt market was also seeing a correction after a recent rally fuelled by growing expectations domestic interest rates could fall to help revive the sluggish economy.

The yield on the 2015 bond jumped as much as 21 basis points to 6.69 percent, its highest level since August 25 according to Reuters data. The yield on the 2026 bond added as much as 30 basis points to a session high of 8.205 percent, a level also last seen 2-1/2 weeks ago.

"I think it's more to do with what's come out of Europe over this weekend -- the nervousness surrounding Greece and the flight to quality away from emerging markets," WWC Securities head of bond trading Marten Banninga said, referring to fears of a debt default in the European state.

South Africa's Top-40 index of blue chips is now on track for its worst monthly performance since August 2010, and some investors say it has fallen too far, given that it has been hit hard by overseas factors, not local fundamentals.

"When the blood is flowing in streets that is when you have to buy," said Abri du Plessis, Chief Investment Officer at Gryphon Asset Management in Cape Town.

"Commodity indicators tell you there's something going on globally in economies that doesn't look too bad. It's negative sentiment that's driving the market."

The Top-40 index finished down 2.1 percent at 26,536.28, its second straight loss. The broader All-share index fell 1.9 percent to 29,855.75.

MTN Group, Africa's largest telecom, tumbled 4.5 percent to 137.50, with trade volume on the stock spiking to its highest level since May.

Platinum miner Impala Platinum, was another hard-hit index heavyweight, falling 4.4 percent to 162.00 rand.

FirstRand Group fell 2.2 percent to 20.05 rand. South Africa's second-largest lender has agreed to pay $5.4 million for Zambian commercial lender Finance Bank, Zambia's central bank said on Monday.

FirstRand is due to report its full-year results before the market opens on Tuesday.

Liquidity on the local debt market had been thin over the last couple of days, meaning some of the bond moves were overdone, Absa Capital trader Daniel Sabiston said.

"We've also got quite a bit of auction supply tomorrow. I guess all of those factors together are really exaggerating the moves," Sabiston added.

The Treasury will offer 1 billion rand worth of the 2021 bond and 1.1 billion rand of the 2031 issue at a weekly auction on Tuesday.

Mon, 12 Sep 2011
Top News
South African government bonds fell sharply on Monday, sending yields soaring, as investors fled emerging market assets perceived as carrying relatively high risk in the wake of renewed fears of a debt default in Greece.  Full story

South Africa's Top-40 index blue-chip stocks extended losses in afternoon trade on Monday, at one point falling more than 3 percent, as investors sold everything from telecom heavyweight MTN Group to miners such as Imapala Platinum, on concerns Greece was edging closer to default.  Full story
At least 75 bodies have been recovered after petrol that had spilt into an open sewer caught fire and sent a wave of flame through a densely populated slum in the Kenyan capital, police said on Monday.  Full story
Muammar Gaddafi loyalists killed 17 guards outside an oil refinery on Monday in an apparent attempt to disrupt a drive by Libya's new rulers to seize the ousted ruler's last bastions and revive the oil-based economy.  Full story
A worker was killed in an explosion at a French nuclear waste site on Monday, but officials said there was no radioactive leak and the authorities quickly declared the emergency over.  Full story
SA Business
South African petrochemicals group Sasol, under new leadership since July, will continue looking for lucrative gas assets to boost its production of chemicals and synthetic fuels, its new chief executive said. . .  Full story
Confidence among South Africa's consumers fell in the third quarter, with people taking a gloomy view about the economic outlook and their finances, a survey showed on Monday.. . .  Full story
South Africa's competition regulator will from Monday start hearing an appeal on the proposed merger of Pioneer Hi-Bred, the agricultural unit of U.S. chemicals group DuPont, and a local seed company. . .  Full story

South Africa's FirstRand has agreed to pay $5.4 million for Zambia's Finance Bank, the central bank said on Monday, giving South. . .  Full story
South Africa's Sasol Ltd, the world's top maker of motor fuel from coal, defied a stronger rand to post a 27. . .  Full story
South Africa's Solidarity trade union said it accepted a wage offer from fixed-line phone company Telkom on Monday, averting a strike. . .  Full story
South Africa's rand started the week on the back foot on Monday, hitting a one-month low as investors pulled out of. . .  Full story
Company News
Pick n Pay welcomed the decision by Metcash Trading Ltd (Metcash) yesterday to notify the Australian Competition and Consumer Commission (ACCC) that following five clear business days it will consider itself. . .  Full story
Sasfin and IQuad Group Ltd ("IQuad") shareholders were advised that Sasfin has acquired 12 042 344 ordinary IQuad shares ("acquisition shares") from Paladin Capital Financial Services Ltd ("Paladin"), representing 42.9% of. . .  Full story
The resolutions which were passed at the meeting were as follows: *Dr. Mark Bristow, James Campbell, David. . .  Full story
Company Results
Turnover by more than 15% to R142.4 billion (R122.3 billion). Gross profit rose to R52 billion (R43.1 billion) and operating profit. . .  Full story
Revenue improved to GBP79.2 million (GBP68.5 million) and mining profit rose to GBP30.8 million (GBP24.7 million). Profit attributable to owners of. . .  Full story
Rainbow announce that it has concluded an agreement to acquire the poultry processing operations of Bush Valley Chickens, located near Tzaneen. . .  Full story
Revenue for the year increased by 43.5% to R2.4 billion (2010: R1.7 billion). Operating profit rose to R232.9 million (2010: R147.9. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0029855.75-585.12-1.92%
JSE Top 4017:0026536.28-577.90-2.13%
JSE Gold17:002828.51-19.40-0.68%
JSE Financial17:0020732.98-293.25-1.39%
JSE Industrial17:0031793.72-705.29-2.17%
JSE Indust 2517:0026686.27-683.67-2.50%
JSE Resource17:0048135.04-949.85-1.94%
DJ Futures19:5510790.00-159.00-1.45%
DJ Ind19:4010855.26-136.87-1.25%
SP 50019:551139.81-14.42-1.25%
FTSE 10017:355129.62-85.03-1.63%
All Ords08:384125.10-152.30-3.56%
NZSE 5007:463263.81-44.24-1.34%
NameTimeRPMove% Move
Gold/R kg19:5543459713810.32%
Brent Crude19:46111.96-.59-0.52%
Rand / Dollar19:477.46180.16182.22%
Rand / Pound19:4511.74570.21871.90%
Rand / Euro19:4510.11810.21222.14%
Rand / NZD19:466.09820.10671.78%
Rand / AUD19:457.66030.05380.71%
Yen / Dollar19:4877.1900-0.3100-0.40%
Euro / Dollar19:450.73690.00010.01%
Dollar / Euro19:421.3562-0.0018-0.13%
Pound / Dollar19:450.63300.00150.24%

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

Major Moves Up
SharenameSaleMove% MoveVolume
1 IQUAD  2403718.23.%24093688
2 RANGOLD  2643314.29.%9264
3 HOSP-B  6007013.21.%12400
4 BASREAD  1270806.72.%337880
5 PBT  14086.06.%61506
6 DELRAND  10865.88.%112
7 OANDO  190105.56.%29440
8 AFRIMAT  390205.41.%5748
9 EQSTRA  739344.82.%2651
10 WESIZWE  19384.32.%257199
11 MIXTEL  13054.00.%23000
12 SPURCORP  1350453.45.%27931
13 GOLIATH  310103.33.%6000
14 MARSHALL  650203.17.%160000
15 ASSORE  207004782.36.%413109
16 HULAMIN  690152.22.%9236
17 EASTPLATS  52591.74.%7224
18 AMA  18331.67.%24970
19 AFGRI  615101.65.%208120
20 LIFEHC  1850281.54.%2206082

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Major Moves Down
SharenameSaleMove% MoveVolume
1 WITSGOLD  4080-620-13.19.%160
2 CMH  1100-140-11.29.%145355
3 PLATMIN  285-25-8.06.%9520
4 CALGRO  112-7-5.88.%75000
5 URONE  1667-104-5.87.%78645
6 MTN  13750-643-4.47.%10675263
7 IMPLATS  16200-750-4.42.%2672522
8 ROLFES  220-10-4.35.%45100
9 GROWPNT  1755-75-4.10.%3770363
10 ANOORAQ  480-20-4.00.%1000
11 VERIMARK  153-6-3.77.%28850
12 ONELOGIX  141-5-3.42.%55000
13 STEINHOFF  2173-77-3.42.%7937857
14 RAINBOW  1570-55-3.38.%1521
15 NASPERSN  34500-1197-3.35.%2519152
16 MASSMART  15401-524-3.29.%314476
17 DIGICOR  300-10-3.23.%49632
18 PARACON  180-6-3.23.%3600
19 BELL  1450-48-3.20.%1550
20 PAN-AF  154-5-3.14.%878782

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New Highs
SharenameSaleHighMove% MoveVolume
1 GOLDONE  40540510.25.%1745623

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New Lows
SharenameSaleLowMove% MoveVolume
1 PLATMIN  285260-25-8.06.%9520
2 URONE  16671650-104-5.87.%78645
3 AQUARIUS  25412469-50-1.93.%228948
4 TELKOM  33653311-60-1.75.%1706045
5 RAUBEX  12901274-16-1.23.%3796837
6 AFROX  16811681-18-1.06.%31721
7 HOLDSPORT  29252925-25-0.85.%92196
8 OANDO  190170105.56.%29440

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Index Summary
Index NameRPMove% Move
Top 4026,536.28-577.90-2.13%
Mid Cap41,252.17-411.88-0.99%
Small Cap31,131.98-8.87-0.03%
Resource 2048,135.04-949.85-1.94%
Industrial 2526,686.27-683.67-2.50%
Financial 157,729.92-125.02-1.59%
Financial & Ind. 3029,482.30-683.61-2.27%
All Share29,855.75-585.12-1.92%
Oil & Gas 24,413.59-115.06-0.47%
Mining 31,682.13-689.63-2.13%
Gold Mining2,828.51-19.40-0.68%
Platinum Mining60.42-2.28-3.64%
GENERAL MINING7,611.97-179.82-2.31%
Oil & Gas Producers 13,126.74-61.86-0.47%
Basic Materials 26,822.58-572.88-2.09%
Chemicals 12,456.83-49.61-0.40%
Forestry & Paper 12,190.91-245.26-1.97%
Industrial Metals 27,075.54-498.68-1.81%
Industrials 26,529.75-476.57-1.76%
General Industrials 73,984.06-1568.20-2.08%
Consumer Goods 26,194.11-443.84-1.67%
Automobiles & Parts 3,645.78-56.61-1.53%
Household Goods138.10-5-3.42%
Health Care 33,134.63-225.65-0.68%
Beverages 86.00-1.02-1.17%
Index NameRPMove% Move
Food Producers 47,877.06-593.15-1.22%
Personal Goods 376.53-8.89-2.31%
Consumer Services 53,352.41-1272.66-2.33%
General Retailers 45,153.26-805.18-1.75%
Travel & Leisure 3,622.88-12.19-0.34%
Media 76.20-2.57-3.26%
Support Services 2,204.857.050.32%
Telecommunications 67,382.60-2719.48-3.88%
Financials 20,732.98-293.25-1.39%
Banks 39,039.41-508.14-1.28%
Non-life Insurance 32,978.77-106.69-0.32%
Life Insurance 14,989.23-262.18-1.72%
General Financial 2,115.81-32.13-1.50%
Technology 22,588.90-99.41-0.44%
SHARIAH TOP40 2,873.62-68-2.30%
FTSE/JSE SHARIAH ALL2,943.30-64-2.14%
COAL MINING25,620.23-214-0.83%
FTSE JSE Fledgling 4,462.8110.03%
FTSE/JSE Alt X 1,124.2390.80%
CAPPED PROPERTY 307.90-1.11%
RESOURCE 26,684.85-520-1.91%
DIVIDEND PLUS165.23-2-1.20%
FTSE/JSE RAFI 406,163.38-132-2.10%
Capped Top 4013,977.50-302-2.11%
Capped All Share15,093.60-294-1.91%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
13 Sep 2011ASPENJune 2011 (Final)
13 Sep 2011ASPENPREFJune 2011 (Final)
13 Sep 2011FIRSTRANDJune 2011 (Final)
13 Sep 2011FIRSTRANDB-PJune 2011 (Final)
13 Sep 2011FIRSTRNDPAJune 2011 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
MWNT11-09-0911-09-1611-09-30R 55.0000
ASTRAPAKP11-09-0911-09-3011-10-10R 3.6493
SPURCORP11-09-0811-09-3011-10-10R 0.3300
CLOVERPREF11-09-0811-09-2311-10-03R 0.0630
CERAMIC11-09-0811-09-3011-10-10R 1.6000
Ex Div**
Share NameDec-DateLDTPay-DateAmount
IMPLATS11-08-2511-09-0911-09-19R 4.2000
MTN GROUP11-08-1711-09-0911-09-19R 2.7300
ASSORE11-08-2511-09-0911-09-19R 2.5000
SHOPRIT11-08-2311-09-0911-09-19R 1.6500
MASSMART11-08-2511-09-0911-09-19R 1.3400

Upcoming AGMs**
CodeCompany NameDateStatus
MIXMiX Telematics Ltd13/09/2011Confirmed
DTCDatatec Ltd14/09/2011Confirmed
KELKelly Group Ltd16/09/2011Confirmed
AVUAvusa Ltd19/09/2011Confirmed

Stock Exchange News Service
12/09/201117:36 Anglo American plc - Treasury Shares - Transfers
12/09/201117:35 Zeder Investments Limited - Disclosure of acquisition of shares in
12/09/201117:31 Anglo American plc - Anglo American Share Incentive Plan - SIP
12/09/201117:30 Zeder Investments Limited - Results of the cash offer by Zeder to all
12/09/201117:17BIDBS - Development Bank of Southern Africa Limited - Listing of Tap Issue
12/09/201116:50 Growthpoint Properties Limited - Dealing in securities by a
12/09/201116:41OML - Old Mutual plc - Form 8.3
12/09/201116:40OML - Old Mutual plc - Form 8.3
12/09/201116:25FFA/FFB - Fortress Income Fund Limited - Acceptance of linked units in
12/09/201116:16 Pick n Pay Stores Ltd - Sale of Franklins
12/09/201116:00 Mustek Limited - Director dealing in securities
12/09/201115:55 Insimbi Refractory and Alloy Supplies - Trading update
12/09/201115:50 Goliath Gold Mining Limited - Change to the board of directors
12/09/201115:42 Datacentrix Holdings Limited - Withdrawal of cautionary announcement
12/09/201114:56SFN/SFNP/IQG - Sasfin /IQuad - Disclosure by Iquad of disposal and
12/09/201113:59BIIIPL - iNguza Investments (Proprietary) Limited - Listing of New
12/09/201113:20INL/INP - Investec Limited/Investec plc - Form 8 (DD)
12/09/201112:32BIFR1 - FirstRand Bank Limited - Interest Rate Reset Announcement
12/09/201112:27INL/INP - Investec - FORM 8 (DD)
12/09/201112:00 Old Mutual Plc - Old Mutual Plc - Response to the Davies report on women
12/09/201112:00 The Foschini Group Ltd - Director Dealing in Securities
12/09/201111:34 Basil Read Holdings Limited - Preferred Bidder status awarded on the
12/09/201111:20 Bauba Platinum Limited - Change to the board of directors
12/09/201111:16GRTIVC - Investec - Adjustment to strike price announcement on Growthpoint
12/09/201111:15GRTIVB - Investec Warrants - Adjustment to strike price announcement on
12/09/201110:55INL/INP - Investec Limited/Investec plc - Letters of intent
12/09/201110:20 Group Five Limited - Preferred Bidder status awarded on the
12/09/201109:52 Country Bird Holdings Limited - Dealings in securities
12/09/201109:50INL/INP - Investec Limited - Investec plc - Disclosure in accordance with Rule
12/09/201109:38SOLIDI - Investec Warrants - Declared final dividend announcement on Sasol
12/09/201109:37SOLIHH - Investec - Declared a final dividend announcement on Sasol Limited hot
12/09/201109:04 Rainbow Chicken Limited - Acquisition of poultry processing operation
12/09/201108:14 EOH Holdings Limited - Reviewed Condensed Consolidated Resultsfor the year
12/09/201107:48 Pan African Resources PLC - Audited Annual Results For the year ended 30
12/09/201107:22BHP - BHP Billiton plc - Notice of Dividend Currency Exchange Rates - 2011 Final
12/09/201107:22 Rockwell - Annual and Special General Meeting Results & Strategic Update
12/09/201107:20 Billiton Plc - Notification of Change of Interests of Persons Discharging
12/09/201107:10 British American Tobacco p.l.c. - Transaction in own shares
12/09/201107:10SYN862 - Synthesis Funding Limited - New Financial Instrument Listing
12/09/201107:05SOL - Sasol Limited - Financial results for the year ended 30 June 2011

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