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 The Sharenet Daily 
Wednesday, 21 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 rand tumbles, tipped to hit 8.00/dollar soon

By Phumza Macanda

JOHANNESBURG (Reuters) - South Africa's rand tumbled nearly 3 percent to hit 16-month lows against the dollar on Wednesday as importers piled into the greenback, spooked by a recent trend of sharp declines that dealers said would continue.

At 1520 GMT, the rand was trading at 7.8720 to the dollar, 1.7 percent weaker than Tuesday's New York close of 7.74 and having hit 7.9650, its weakest since May 2010.

With over 5 percent of losses so far this week, the rand was on track to register its biggest weekly decline since May 2009.

"Importers .... are panicking and any order is moving the market aggressively," said Ion de Vleeschauwer, dealer at Bidvest Bank.

The rand has broken through several key technical levels this week and will likely hit 8.00 to the dollar soon.

"We have hit 7.9650 already so I think 8.00 could come under pressure and not hold. Sentiment for the short term has turned very bearish," said Judy Padayachee, a technical analyst at Absa Capital who sees it at 8.10/8.20 over the next few days.

"All my daily and weekly indicators are screaming the rand is oversold, but I have to ignore that and look at the price action, which shows it is under pressure and the trend is still weaker for now."

The rand was also at its weakest levels since January 2010 against the euro and sterling.

A reprieve is unlikely in the short term given investors are shunning risky positions in view of the deepening debt crisis in the euro zone.

The sharply weaker rand has created a monetary policy headache for the South African Reserve Bank as it tries to make a trade-off between rising inflation and weak growth.

But the central bank is still expected to keep its repo rate unchanged at 5.5 percent when it announces a decision on borrowing costs on Thursday.

Data showed earlier that annual headline inflation was steady at 5.3 percent in August but it is expected to rise gradually over the next few months and peak at 6.3 percent in the first quarter of 2012.

Government bonds firmed after the CPI data, which was softer than expected, with the yield on the 2015 bond down two basis points to 6.85 percent on the day and that on the 2026 issue falling by the same margin to 8.395 percent.

For now, money markets are still pricing in a small chance of a rate cut over the next few months, with the 6x9 FRA (forward rate agreement) rate at 5.21 percent on Wednesday after rising to 5.4 percent on Tuesday.

But analysts say the inflation outlook has deteriorated and instead of a rate cut, rates will be stable for longer.

Wed, 21 Sep 2011
Top News
South African stocks ended a choppy session little changed on Wednesday as investors refrained from making large moves ahead of the outcome of a U.S. Federal Reserve meeting.  Full story

South Africa's rand extended losses against the dollar on Wednesday, tumbling nearly 3 percent to 16-month lows as importers spooked by its sharp losses in recent days bought greenback in a panic.  Full story
Iran freed on Wednesday two U.S. men it jailed for over two years on espionage charges after $500,000 (320,123 pounds) bail for each was paid by Oman, Reuters witnesses and diplomatic sources said.  Full story
Flag-waving Palestinians filled the squares of major West Bank cities on Wednesday to rally behind President Mahmoud Abbas's bid for statehood recognition at the United Nations in the face of U.S. and Israeli objections.  Full story
Afghans gathered to mourn assassinated former president and chief peace negotiator Burhanuddin Rabbani on Wednesday, World Peace Day, as fears mounted that his death could deepen ethnic divisions and nudge the country towards civil war.  Full story
SA Business
Growth in South Africa's retail sales quickened to 2.8 percent year-on-year at constant prices in July from a revised 2.4 percent. . .  Full story
South Africa's Treasury said on Wednesday it would issue 1.1 billion rand worth of the 2020 government bond and 1.0 billion. . .  Full story
South Africa's targeted consumer inflation was unchanged on a year-on-year basis in August and below market expectations, suggesting price pressures are. . .  Full story
South Africa's rand pulled slightly away from the previous day's 14 month lows against the dollar on Wednesday but remained on. . .  Full story

South Africa's Gold Fields Ltd could invest up to $2 billion to develop a gold and copper prospect in the Philippines,. . .  Full story
Maize deliveries to South African silos rose to 8.872 million tonnes in the week to September 16, up from a revised. . .  Full story
Inditex , the world's biggest fashion retailer, has reported a slowdown in sales growth in the last few weeks, after a forecast-beating half-year, raising. . .  Full story
Angola's banks must use their strong capital and liquidity positions to help fund the diversification of the oil-dependent economy by providing. . .  Full story
Company News
ChemSpec and Mica announced that they had reached an agreement in principal regarding the sale to Mica Holdings Ltd of ChemSpec. . .  Full story
Shareholders were advised that a circular relating to the granting by Sasfin of financial assistance to companies within the group in. . .  Full story
Afdawn shareholders ("shareholders") are referred to the circular dated 19 August 2011("the circular") detailing: * a partially underwritten, renounceable rights offer. . .  Full story
Business Report indicated that Calgro M3 Holdings has expanded its operations into the Western Cape following the award of a R554. . .  Full story
Company Results
Revenue grew by 6% to R5.7 billion (R5.4 billion) and gross profit jumped by 10% to R1.3 billion (R1.2 billion). Operating. . .  Full story
Revenue was up by 34% to R712.2 million (R530.5 million). Operating profit rose by 19% to R83.9 million (R70.7 million). Net. . .  Full story
Results for the June interim period showed turnover of R889 million (June 2010: R412.1 million) and an increase in gross profit. . .  Full story
Sales revenue for the 15 months ended 30 June 2011 increased to R15 billion (2010: R11.8 billion). Trading profit weakened to. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0031311.17-32.73-0.10%
JSE Top 4017:0027996.23-47.43-0.17%
JSE Gold17:003165.71120.273.95%
JSE Financial17:0021305.76120.180.57%
JSE Industrial17:0033026.87-137.71-0.42%
JSE Indust 2517:0027823.88-164.24-0.59%
JSE Resource17:0051577.49-115.73-0.22%
DJ Futures19:5611305.00-39.00-0.34%
DJ Ind19:4511375.17-33.49-0.29%
SP 50020:001195.36-6.73-0.56%
FTSE 10017:355288.41-75.30-1.40%
All Ords08:374153.6028.800.70%
NZSE 5007:463308.8320.520.62%
NameTimeRPMove% Move
Gold/R kg20:00457179102902.30%
Brent Crude19:56113.671.090.97%
Rand / Dollar19:587.89200.17882.32%
Rand / Pound19:5512.32780.20671.71%
Rand / Euro19:5510.87120.28802.72%
Rand / NZD19:576.44180.08721.37%
Rand / AUD19:558.07000.13641.72%
Yen / Dollar19:5876.3100-0.1100-0.14%
Euro / Dollar19:550.7254-0.0041-0.56%
Dollar / Euro19:581.37730.00780.57%
Pound / Dollar19:550.63740.00220.35%

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

Major Moves Up
SharenameSaleMove% MoveVolume
1 MMG  2003521.21.%120519
2 RANGOLD  2603515.56.%6366
3 COMAIR  2303015.00.%13100
4 DAWN  4785312.47.%25549
5 NUWORLD  198018010.00.%12341
6 YORK  370298.50.%51955
7 GOLIATH  325258.33.%78448
8 CALGRO  13996.92.%72870
9 ARB  320196.31.%3810
10 MAZOR  13586.30.%47500
11 DELTA  790405.33.%2500
12 CASHBIL  99954955.21.%58424
13 GRANPRADE  315155.00.%1000
14 DCENTRIX  440204.76.%112658
15 PHUMELELA  1100484.56.%4050
16 HARMONY  106004614.55.%2416167
17 GFIELDS  141016014.45.%2563736
18 WITSGOLD  47002004.44.%1500
19 CLIENTELE  1000404.17.%1100
20 DRDGOLD  450173.93.%3362259

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Major Moves Down
SharenameSaleMove% MoveVolume
1 AFRO-C  191-19-9.05.%11541
2 EFFICIENT  460-43-8.55.%500
3 PBT  135-11-7.53.%719
4 IMPERIAL  10855-625-5.44.%937217
5 WOOLIES  3687-193-4.97.%10182725
6 EHSV  4000-200-4.76.%161225
7 BAUBA  210-10-4.55.%50100
8 TRENCOR  3310-140-4.06.%2125
9 ASSORE  21067-883-4.02.%50836
10 TASTE  120-5-4.00.%70092
11 ALTRON  2450-97-3.81.%100092
12 VIVIDEND  445-15-3.26.%108000
13 SOVFOOD  455-15-3.19.%10022
14 BCX  534-16-2.91.%129913
15 COAL  707-20-2.75.%725289
16 ASPEN  8860-242-2.66.%2063728
17 PLATMIN  400-10-2.44.%2770
18 TRUWTHS  7505-185-2.41.%1283426
19 LITHA  254-6-2.31.%131189
20 CIL  880-20-2.22.%20340

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New Highs
SharenameSaleHighMove% MoveVolume
1 HARMONY  10600106424614.55.%2416167
2 GFIELDS  14101141436014.45.%2563736
3 DRDGOLD  450489173.93.%3362259
4 ANGGOLD  377143787612443.41.%1706126
5 REXTRU-N  16501650503.13.%6020
6 CAPCO  22062238371.71.%144782
7 BATS  34465349404901.44.%1539664
8 GOLDONE  42042551.20.%1743432
9 LIB-HOLD  79808120250.31.%447641
10 SABMILLER  2650027200-130-0.49.%3147490

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New Lows
SharenameSaleLowMove% MoveVolume
1 EHSV  40003550-200-4.76.%161225

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Index Summary
Index NameRPMove% Move
Top 4027,996.23-47.43-0.17%
Mid Cap41,984.9568.010.16%
Small Cap31,553.20213.030.68%
Resource 2051,577.49-115.73-0.22%
Industrial 2527,823.88-164.24-0.59%
Financial 157,972.4445.810.58%
Financial & Ind. 3030,712.57-61.42-0.20%
All Share31,311.17-32.73-0.10%
Oil & Gas 26,229.94-264.07-1.00%
Mining 33,944.2816.870.05%
Gold Mining3,165.71120.273.95%
Platinum Mining65.501.201.87%
GENERAL MINING8,038.43-119.74-1.47%
Oil & Gas Producers 14,103.36-141.98-1.00%
Basic Materials 28,650.429.980.03%
Chemicals 12,487.6529.570.24%
Forestry & Paper 13,052.38.860.01%
Industrial Metals 27,581.18-83.91-0.30%
Industrials 27,279.285.700.02%
General Industrials 76,291.44511.260.67%
Consumer Goods 28,278.54113.410.40%
Automobiles & Parts 3,623.1345.291.27%
Household Goods150.6821.54%
Health Care 33,933.02-113.09-0.33%
Beverages 90.56-.44-0.48%
Index NameRPMove% Move
Food Producers 48,604.0840.560.08%
Personal Goods 430.876.901.63%
Consumer Services 54,141.62-716.45-1.31%
General Retailers 44,709.95-1005.03-2.20%
Travel & Leisure 3,574.1421.270.60%
Media 79.12-.97-1.21%
Support Services 2,195.2317.330.80%
Telecommunications 67,613.84-992.42-1.45%
Financials 21,305.76120.180.57%
Banks 39,933.89326.770.83%
Non-life Insurance 33,538.92317.660.96%
Life Insurance 15,665.7046.660.30%
General Financial 2,150.549.700.45%
Technology 23,451.36-38.02-0.16%
SHARIAH TOP40 3,050.31-4-0.13%
FTSE/JSE SHARIAH ALL3,112.43-3-0.08%
COAL MINING26,103.461150.44%
FTSE JSE Fledgling 4,533.40220.49%
FTSE/JSE Alt X 1,126.97-2-0.19%
RESOURCE 28,600.77-27-0.09%
DIVIDEND PLUS168.34-0-0.08%
FTSE/JSE RAFI 406,465.05-12-0.18%
Capped Top 4014,745.24-10-0.07%
Capped All Share15,828.76-11-0.07%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
22 Sep 2011FORBESAugust 2011 (Interim)
22 Sep 2011HARDWAREJune 2011 (Final)
22 Sep 2011KGMEDIAJune 2011 (Final)
22 Sep 2011PALLINGHTJune 2011 (Interim)
22 Sep 2011PALLINGHTMJune 2011 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
CASHBIL11-09-2011-10-0711-10-17R 1.3900
REMGRO11-09-2011-11-1111-11-21R 2.1300
O-LINE11-09-2011-11-0411-11-14R 0.0500
DIGICORE11-09-2011-10-0711-10-17R 0.0300
CLOVER11-09-1911-10-0711-10-17R 0.1500
Ex Div**
Share NameDec-DateLDTPay-DateAmount
MWNT11-09-0911-09-1611-09-30R 55.0000
MWNT11-09-0911-09-1611-09-30R 55.0000
ARM11-08-3111-09-1611-09-26R 4.5000
CAPITEC-P11-08-3111-09-1611-09-26R 3.4027
PSGFIN PREF11-09-0111-09-1611-09-26R 3.4024

Upcoming AGMs**
CodeCompany NameDateStatus
RACPRECM - Calibre Ltd22/09/2011Confirmed
COLPColliers South Africa Holdings Ltd22/09/2011Confirmed
COLColliers South Africa Holdings Ltd22/09/2011Confirmed
RACCRECM - Calibre Ltd22/09/2011Confirmed
BSSBSI Steel Ltd23/09/2011Confirmed

Stock Exchange News Service
21/09/201117:46IKH2A2 - iKhaya RMBS 2 Limited - Partial Capital Redemption
21/09/201117:35 Total Client Services Limited - Awarding of new tender, no change
21/09/201117:14 Chemspec - Mica / ChemSpec announcement
21/09/201117:02 Brikor Limited - Granting of option to restructuring officer
21/09/201116:59 Avusa Limited - Dealing in shares by a director of a major subsidiary
21/09/201116:58 Avusa Limited - Dealing in share-based incentives by an executive director
21/09/201116:25OML - Old Mutual Plc - Form 8.3
21/09/201116:16FRC62 - FirstRand Bank Limited - Partial Capital Redemption
21/09/201116:13 Reunert Limited - Changes to the board of directors
21/09/201116:03BILETS - Letshego Holdings Limited - Trading Notice: Acquisition of majority
21/09/201116:02BILETS - Letshego Holdings Limited - Trading Notice: Interim results for the six
21/09/201116:01BILETS - Letshego Holdings Limited - Communication to shareholders
21/09/201116:00 Anooraq Resources Corporation - Further cautionary announcement and
21/09/201116:00BILETS - Letshego Holdings Limited - Renewal of cautionary announcement
21/09/201115:50SFN/SFNP - Sasfin Holdings Limited - Announcement regarding the posting of the
21/09/201115:44SBN36 - The Standard Bank of South Africa Limited - Partial De-Listing
21/09/201115:41 Total Client Services Limited - Disclosure of acquisition of
21/09/201115:38SBN36 - The Standard Bank of South Africa Limited - Partial De-Listing
21/09/201115:20 Alert Steel Holdings Limited - Changes to the board of directors
21/09/201115:13 Capevin Investments Limited - No change statement and notice of Annual
21/09/201115:08CLN000096 - The Standard Bank Of South Africa Limited - Interest Rate
21/09/201115:07CLN000095 - The Standard Bank Of South Africa Limited - Interest Rate
21/09/201115:06CLN000094 - The Standard Bank Of South Africa Limited - Interest Rate
21/09/201115:05CLN000093 - The Standard Bank Of South Africa Limited - Interest Rate
21/09/201115:04CLN000092 - The Standard Bank of South Africa Limited - Interest rate
21/09/201115:03CLN000091 - The Standard Bank Of South Africa Limited - Interest Rate
21/09/201115:02CLN000085 - The Standard Bank of South Africa Limited - Interest Rate
21/09/201115:01CLN000083 - The Standard Bank Of South Africa Limited - Interest Rate
21/09/201115:00CLN000070 - The Standard Bank of South Africa Limited - Interest Rate
21/09/201114:30 Avusa Limited - Appointment of Interim Non-Executive Chairman
21/09/201114:20JOZI03 - The City Of Johannesburg Metropolitan Municipality - Interest Rate
21/09/201113:50BINRA - South African National Roads Agency Soc Limited - Availability
21/09/201113:20CCO - Capital & Counties Properties PLC - Notification of major interests in
21/09/201113:00 Naspers Limited - Notification in terms of section 122(3) of the companies
21/09/201112:53 RBA Holdings Limited - Trading update
21/09/201112:36REMIDI - Investec Warrants - Declared final dividend announcement on Remgro
21/09/201112:35REMIHG - Investec Warrants - Declared final dividend announcement on
21/09/201112:33 Accentuate Limited - Change to the board of directors and change of
21/09/201112:28 Onelogix Group Limited - Dealing in securities
21/09/201111:49SCIB/USDSCG - The Standard Bank of South Africa Limited - Issue of
21/09/201111:48INL/INP - Investec - Form 8 (DD)
21/09/201111:47INL/INP - Investec Limited/Investec plc - Form 8 (DD)
21/09/201111:39 Sea Kay Holdings Limited - Posting of circular and notice of a general
21/09/201111:30 SABMiller Plc - Recommended proposal to acquire Foster`s at A$5.10 per
21/09/201111:10 Resilient Property Income Fund Limited - Resolutions of the linked
21/09/201111:08 Petmin Limited - Petmin increases investment into Canadian PIG Iron
21/09/201110:57 African Dawn Capital Limited - Results of General Meeting/
21/09/201110:01CLR/CLRP - Clover Industries Limited - Dealings in share appreciation rights
21/09/201110:00CLR/CLRP- Clover Industries Limited - Allocation and acceptance of
21/09/201109:53 Gold Fields Limited - Gold fields makes second payment on FSE Gold-
21/09/201109:50INL/INP - Investec Limited/ Investec plc - Disclosure in accordance with Rule
21/09/201109:34ELR/ELRP - ELB Group Limited - Reviewed group provisional report and final
21/09/201109:02INVS - Investec Bank Limited - Expiry of stock warrants 5 October 2011
21/09/201108:43ABN39 - Absa Bank Limited - New Financial Instrument Listing
21/09/201108:30 Sovereign Food Investments Limited - Trading statement
21/09/201108:10 Firestone Energy Limited - Firestone appoints CEO
21/09/201107:30 Pallinghurst Resources Limited - Interim results for the six months ended
21/09/201107:13 IFCA Technologies Limited - Update to the announcement regarding
21/09/201107:10 British American Tobacco p.l.c - Transaction in own shares
21/09/201107:06 BHP Billiton Plc - Notice of 2012 Interim Dividend
21/09/201107:06 ADAPTIT Holdings Limited - Abridged consolidated audited results for the
21/09/201107:05 BHP Billiton Plc - Annual Financial Report
21/09/201107:05 Nampak Limited - Exercise of share options and sale of shares by a

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