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Friday, 16 September 2011 - 20:00
Charts
S.Africa's rand weaker vs dollar, stocks at two-wk high
By Phumza Macanda and David Dolan
JOHANNESBURG (Reuters) - South Africa's rand ended the week on a bearish note on Friday, but bonds recovered somewhat after a sharp sell-off seen as overdone earlier in the week.
Domestic stocks inched to their highest close in two weeks, rising 0.13 percent as gains in Harmony Gold and other miners offset a downturn in banks.
Trade was subdued ahead of the weekend and after the settlement of September index futures on Thursday.
While investors remain skittish on concerns about the euro zone debt crisis, signals of support for Greece this week helped South African stocks make up for some of their recent steep losses.
That trend could continue next week, said Menelaos Hatziandreou, a trader at BP Bernstein.
"People are still very cautious but I expect a bit of a rally in the next few sessions because the guys want to create new positions after the futures close-out yesterday," he said.
The rand was trading at 7.43 against the dollar at 1545 GMT, 0.5 percent weaker than Thursday.
"There's still a lot of nervousness in the market and guys are not taking new positions. Exporter interest at 7.45 and importer interest at 7.38/40 has kept it within a range," said Ion de Vleeschauwer, chief dealer at Bidvest Bank.
The rand fell to 7.4825 on Thursday, flirting with this year's low of 7.50. The two attempts to break 7.50 have some dealers betting the rand might go back to the 7.30's but trading has been highly volatile.
IFR, a Thomson Reuters markets and analysis service, said there was scope for the rand to retest 7.50.
GOLD SHARES UP, BANKS DOWN
On the bourse, the Top-40 index of blue chips edged up 0.13 percent to 27,726.22, its highest finish since Sept 1.
The broader All-share index added 0.17 percent to 31,051,35.
Gold miners were lifted after the precious metal bounced back from a two-week low. Harmony Gold, the world's fifth-largest producer of the precious metal, rose 4.1 percent to 96.80 rand.
AngloGold Ashanti, the world's third-largest gold producer, gained 2 percent.
But banks were weaker, giving up their gains from the previous session. Standard Bank, Africa's largest lender by assets, fell 2.1 percent to 96.68 rand.
Trade was relatively subdued, with 231 million shares changing hands, according to the latest data available from the exchange.
The 200-day simple moving average of volume on the Johannesburg exchange is around 242 million share a day.
A total of 148 shares gained, 119 declined and 67 were unchanged.
Next week, traders will be focusing on the Reserve Bank rates decision on Thursday and CPI inflation data on Wednesday.
Yields were off multi-week lows, with the 2015 yield down three basis points to 6.78 percent and that on the 2026 note steady at 8.20 percent.
Should the central bank next week sound even more pessimistic about local growth, bonds may gain more as the market braces for another rate cut.
Analysts in a Reuters poll said the FRA market -- which sees a 50 percent rate cut chance -- has run ahead of itself and rates will stay flat next week and way into next year.
Fri, 16 Sep 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-09-16T130951Z_01_AJOE78F10KH00_RTROPTP_3_OZABS-SAFRICA-POWER-20110916.JPG "Electricity pylons carry power from Cape Town's Koeberg nuclear power plant") South Africa plans to give a tax allowance to companies that save energy in a bid to reduce greenhouse gas emissions, the Department of Energy said on Friday. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=http%253A%252F%252Fwww.sharenet.co.za%252Fimages%252Fprofile%252Ffirst_uranium.gif) Revenue increased to USD38 million (USD29.9 million). Gross profit declined to USD3.2 million (USD6.6 million), but the net attributable loss for the period narrowed to USD30.8 million (loss of US56.7 million). In addition, the basic and diluted loss per common share was smaller at USD15c (l Full story |
 Diehard loyalists of Muammar Gaddafi threw rockets, mortars and heavy gunfire at Libyan fighters who pushed into two besieged towns on Friday in a bid to end months of civil war and capture key figures from the old ruling system. Full story  Denmark's prime minister-elect, Helle Thorning-Schmidt, said on Friday she expected to form a new government quickly, bringing together a disparate "Red bloc" that ended 10 years of centre-right rule in a voter backlash over the economic downturn. Full story  Pakistani Prime Minister Yusuf Raza Gilani has cancelled a visit to the United States to attend the U.N. General Assembly session to direct relief efforts as floods devastate southern Pakistan, his office said on Friday. Full story |
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SA Business |
South Africa's main mine workers union said on Friday separate wage talks with Exxaro Resources and Impala Platinum, the world's second-largest platinum producer, had deadlocked but strike action was not imminent.. . . Full story |
South Africa auctioned 3.825 billion rand worth of three-month Treasury Bills on Friday at an average yield of 5.48 percent from 5.5 percent last week.. . . Full story |
South African government bonds edged higher on Friday and yields were off multi-week highs as investors ventured back into local debt ahead of what is likely to be a dovish pronouncement. . . Full story | ||||
Bond fund managers who have been
banking on deep interest rate cuts in emerging markets risk
disappointment as steep falls in currencies and. . . Full story | South African bond prices
could rise further before the end of the year, especially if the
rand continues well-supported, and this week's rise. . . Full story | Africa's Christmas
sales appear to be starting early this year.. . . Full story | South Africa sold just 95 million rand out of the 600 million rand on offer at a weekly auction of its. . . Full story |
Company News |
Fiuranium announced that it has received a letter from the South African Minister of Mineral Resources purporting to "withdraw" the new. . . Full story |
Furanium announced that the notice temporarily suspending operations in the underground workplaces at its Ezulwini Mine has been lifted. The notice. . . Full story |
Shareholders are hereby advised that Yield Chemicals Group (Pty) Ltd ("the Purchaser" or "Yield Chemicals Group"), a subsidiary of the company,. . . Full story |
Mr U J van der Walt has resigned as a non-executive director of Vukile with immediate effect.. . . Full story | |||
According to Business Day, Old Mutual's UK-based fund-management business, Skandia, aims to increase assets under management. Chief investment officer James Millard says Skandia wants to double assets under management worldwide in. . . Full story |
Business Day quoted Investec plc and Investec Ltd ("Investec") CEO Stephen Koseff as saying that the banking group could claim to be one of Europe's dominant private and investment banks after. . . Full story |
Further to the final cash dividend declared on 25 August 2011 and payable on 19 September 2011, notice of which was released on SENS on 25 August 2011, the rand to. . . Full story | |||||
Company Results | Revenue amounted to R4.4 billion for Mvelaserve's maiden final results as a listed company. Profit from operations before exceptional items was. . . Full story | Revenue from continuing operations was up to R547.2 million (June 2010: R482 million). Gross profit increased to R169.9 million (June 2010:. . . Full story | Revenue for the year ended 30 June 2011 increased by 4.8% to R3.8 billion (2010: R3.6 million). Gross profit grew by. . . Full story | Revenue increased to R5 billion (R3.2 billion). Gross profit rose to R744.4 million (R479.6 million) and EBITDA improved by more than. . . Full story |
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 16/09/2011 | 186 | 153 | 86 | 425 | 298,294,485 | R11,990,751,285 | 95565 | 2438342 |
| 15/09/2011 | 237 | 122 | 77 | 436 | 343,174,424 | R21,085,614,091 | 176303 | 2609149 |
| 14/09/2011 | 244 | 121 | 94 | 459 | 348,635,777 | R18,260,582,129 | 120520 | 2848419 |
| 13/09/2011 | 184 | 155 | 82 | 421 | 301,818,219 | R15,248,607,466 | 124540 | 3095911 |
| 12/09/2011 | 87 | 264 | 79 | 430 | 337,484,573 | R18,172,527,509 | 123265 | 2529889 |
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Stock Exchange News Service
| Date | Time | Headline |
| 16/09/2011 | 17:25 | PTXTEN - PropTrax Ten - Dealing in securities |
| 16/09/2011 | 16:57 | Imperial Holdings Limited - Vesting of rights and shares in terms |
| 16/09/2011 | 16:32 | FUM/MWNT - First Uranium Corporation/Mine Waste Solutions (Proprietary) |
| 16/09/2011 | 16:31 | First Uranium Corporation - Section 54 lifted at Ezulwini Mine - mining |
| 16/09/2011 | 16:03 | IFA Hotels & Resorts Limited - Renewal of cautionary announcement |
| 16/09/2011 | 16:00 | Clover Industries Limited - Clover presentation at Macquarie/JSE |
| 16/09/2011 | 15:56 | Decillion - Detailed cautionary announcement regarding the |
| 16/09/2011 | 15:15 | Capricorn Investment Holdings Limited - Renewal of cautionary |
| 16/09/2011 | 13:51 | INL/INP - Investec Limited/Investec plc - Form 8 (DD) |
| 16/09/2011 | 13:50 | INL/INP - Investec - Form 8 (DD) |
| 16/09/2011 | 13:45 | Argent Industrial Limited - Dealing in securities by directors |
| 16/09/2011 | 13:43 | Ububele - Acquisition by Yield Chemicals Group (PTY) Limited of 49.9% of |
| 16/09/2011 | 13:23 | RMHIDE - Investec Warrants - Declared final dividend and special dividend |
| 16/09/2011 | 12:47 | Sea Kay Holdings Limited - Cautionary announcement |
| 16/09/2011 | 12:45 | Rolfes Technology Holdings Limited - Dealing in securities by a |
| 16/09/2011 | 12:30 | BVTNIG - Nedbank - Dividend distribution announcement in relation to the |
| 16/09/2011 | 12:29 | OMLNIH - Nedbank - Dividend distribution announcement in relation to the |
| 16/09/2011 | 12:00 | Mustek Limited - Director dealing in securities |
| 16/09/2011 | 11:57 | Exxaro Resources Limited - Trading of Exxaro ordinary shares on |
| 16/09/2011 | 11:42 | Petmin Limited - Investor presentation |
| 16/09/2011 | 11:39 | IFCA Technologies Limited - Renewal of cautionary announcement |
| 16/09/2011 | 11:36 | SOLNIH - Nedbank Capital - Amendment - Dividend distribution announcement |
| 16/09/2011 | 11:25 | ACT/ACTP - AfroCentric Investment Corporation Limited- Trading statement |
| 16/09/2011 | 11:23 | BIBMW - BMW Financial Services SA (Pty) Ltd - Interest Rate Reset |
| 16/09/2011 | 11:13 | Kelly Group Limited - Report on proceedings at General Meeting |
| 16/09/2011 | 10:45 | SOLNIH - Nedbank Limited - Amendment - Dividend distribution announcement in |
| 16/09/2011 | 10:40 | Vukile Property Fund Limited - Change to the board of directors |
| 16/09/2011 | 10:37 | Aspen Pharmacare Holdings Limited - Dealing in securities by |
| 16/09/2011 | 10:15 | RMHNIG - Nedbank Limited - Dividend distribution announcement in relation to The |
| 16/09/2011 | 10:14 | APNNIE - Nedbank Capital - Capital reduction distribution announcement in |
| 16/09/2011 | 10:13 | SOLNIH - Nedbank Limited - Dividend distribution announcement in relation to the |
| 16/09/2011 | 10:12 | RMHNIG - Nedbank Capital - Special dividend distribution announcement in |
| 16/09/2011 | 10:00 | Oando Plc - Announcement regarding declared bonus issue of ordinary shares |
| 16/09/2011 | 10:00 | Redefine Properties International Limited - Admission of Ordinary Shares |
| 16/09/2011 | 10:00 | Impala Platinum Holdings Limited - Currency conversion final cash |
| 16/09/2011 | 09:56 | JCI Limited - Renewal of cautionary announcement |
| 16/09/2011 | 09:51 | Tawana Resources NL - Note to the financial statements for the half-year |
| 16/09/2011 | 09:50 | INL/INP - Investec - Rule 2.10 of the UK City Code on Takeovers and Mergers |
| 16/09/2011 | 09:31 | Gold One International Limited - Form 604 - Notice of change of interests |
| 16/09/2011 | 08:57 | Andulela Investment Holdings Limited - Change to the board |
| 16/09/2011 | 08:00 | Distribution And Warehousing Network Limited - Audited results for the |
| 16/09/2011 | 07:15 | Pinnacle Technology Holdings - Reviewed Results For The Year Ended 30 June |
| 16/09/2011 | 07:11 | SYN864 - Synthesis Funding Limited - New Financial Instrument Listing |
| 16/09/2011 | 07:10 | British American Tobacco p.l.c.- Transaction in own shares |
| 16/09/2011 | 07:10 | SYN863 - Synthesis Funding Limited - New Financial Instrument Listing |
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