Thursday, 22 September 2011 - 20:00
Charts
S.Africa rand hits 26-month low after dovish c.bank comments
By Stella Mapenzauswa
JOHANNESBURG (Reuters) - South Africa's rand briefly hit a new 26-month low against the dollar on Thursday, and bonds trimmed losses, after a central bank statement was largely viewed as dovish but the currency stabilised in late trade after two days of hefty losses.
The South African Reserve Bank left the repo rate unchanged at 5.5 percent as expected, but highlighted the fragility of the economy's recovery and risks from the global financial crisis.
The rand hit a low of 8.34 after the bank's statement. It later steadied and was trading at 8.2650 by 1543 GMT, 0.24 percent firmer than Tuesday's New York close of 8.30, after sliding 7 percent on Wednesday as investors dumped riskier assets on doubts the U.S. Federal Reserve's latest moves would shore up the U.S. economy.
The rand has plunged nearly 20 percent in the past three weeks, hurt by unfavourable risk sentiment in global markets.
"Wall Street is still down substantially, European equities are taking a big hit, and U.S. Treasuries are still rallying very hard. That's keeping the rand under pressure at this stage," said Chris Becker, analyst at ETM.
Central bank Governor Gill Marcus said the sharply weaker rand was an "upside risk" to inflation but it was difficult to say how long the current bout of weakness would last.
Anisha Arora, emerging market analyst at 4CAST said there was scope for further losses.
"At this stage, fresh negative news could indeed spark another round of rand selloff and when the rand moves, it moves far and fast," she said, adding there could be a bit of short-term relief.
BONDS TRIM LOSSES
Bonds were weaker on the day, but trimmed losses after the central bank statement, bringing yields down from multi-week highs.
The yield on the 2015 bond was up 16 basis points at 7.03 percent, off six-week highs of 7.07 seen earlier.
The 2026 yield went up 12.5 basis points to 8.54 percent, also off two-month highs of 8.575 percent.
"The market is leaning towards the side of a greater chance that there will be a rate cut rather than a rate hike," Becker said. "But certainly the market ... isn't quite as convinced of a rate cut (as before)."
Thu, 22 Sep 2011
Top News
South Africa's Reserve Bank left its repo rate unchanged on Thursday and struck a dovish note as it balanced its concerns for domestic economic growth with an expected increase in inflation stemming from a sharply weaker rand. Full story
South African stocks fell sharply on Thursday, booking their biggest one-day decline in six weeks, as investors worldwide dumped risky assets on worries the global economy could slip back into recession. Full story |
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The state of Georgia executed convicted murderer Troy Davis on Wednesday in a case that drew international attention because of claims by his advocates that he may have been innocent. Full storyU.S. President Barack Obama's opposition to the Palestinians' bid for membership of the United Nations is turning their deep disappointment with his Middle East policy to outright anger. Full storyThe Haqqani militant network is a "veritable arm" of Pakistan's powerful ISI intelligence service, which supported the group as it launched a startling attack last week on the U.S. Embassy in Kabul, the top U.S. military officer said on Thursday. Full story |
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SA Business | South Africa's rand hit a new 26-month low against the dollar on Thursday, after the central bank left rates unchanged at. . . Full story | | South Africa's rand bounced from two year lows against the dollar on Thursday but remained vulnerable as investors dumped high risk. . . Full story | | South African stocks extended losses on Thursday, tumbling more than 3 percent, as investors sold everything from luxury goods maker Richemont. . . Full story | | A meeting of emerging economies on Thursday will consider a Brazilian proposal to buy European bonds to help crisis-hit euro zone. . . Full story |
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| South Africa's Naspers sold its 30 percent stake in Africa's largest mobile instant messenger, MXit, to technology investment firm World of Avatar for an undisclosed amount, two of the companies said. . . Full story | | Most offshore funds stepped
up the pace of reducing exposure to emerging Asian currencies on
spot and non-deliverable forward (NDF) markets on Thursday,
pushing the South Korean won to a one-year low and giving. . . Full story | | Brazil's proposal that large
emerging economies jointly provide new funds to help ease the
euro zone crisis is not feasible, Wei Jianguo, a former Chinese
vice commerce minister, told Reuters on Thursday.. . . Full story |
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Company News | Shareholders of the company are advised that at the board meeting held today, Mr. Leon Campher resigned as independent non-executive director. . . Full story | | Shareholders are advised that Nu-World, for its year ended 31 August 2011, is expecting a decline in earnings per share ("EPS"). . . Full story | | Further to the announcement released on SENS on 31 August 2011 wherein shareholders were advised that Mr Riaan Verster had resigned. . . Full story | | Further to the cautionary announcement dated 11 August 2011 shareholders are advised that Kagiso Media has accepted an offer to sell. . . Full story |
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| Ideco announce that it has signed a sale of shares and claims agreement ("the sale agreement"), dated 21 September 2011, with. . . Full story | | The company advised that its annual report, incorporating the audited financial statements for the year ended 30 June 2011, is available. . . Full story | | Business Report noted that the Department of Mineral Resources will decide in a few weeks whether it will withdraw the new. . . Full story | | According to Business Report, legal action has been initiated against Anglo subsidiary, Anglo American South Africa, in the UK's high court. . . Full story |
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Company Results | These are AdaptIT's first 12 months results following a year-end change, the prior year's results are for 16 months and are. . . Full story | | The loss from operations widened to USD70.6 million (loss of USD1.6 million). The net attributable loss grew to USD46.7 million (loss. . . Full story | | Sales for the year ended 30 June 2011 increased to R1.3 billion (2010: R1.2 billion). Profit from operations grew to R98.4. . . Full story | | The company reported an operating loss of GBP1.2 million (2010: loss of GBP1.3 million). Loss attributable to ordinary equity holders of. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 30323.04 | -988.13 | -3.16% | JSE Top 40 | 17:00 | 27050.66 | -945.57 | -3.38% | JSE Gold | 17:00 | 3124.00 | -41.71 | -1.32% | JSE Financial | 17:00 | 20746.22 | -559.54 | -2.63% | JSE Industrial | 17:00 | 31959.97 | -1066.90 | -3.23% | JSE Indust 25 | 17:00 | 26866.92 | -956.96 | -3.44% | JSE Resource | 17:00 | 49805.34 | -1772.15 | -3.44% | DJ Futures | 20:00 | 10600.00 | -422.00 | -3.83% | DJ Ind | 19:45 | 10681.98 | -442.86 | -3.98% | SP 500 | 20:00 | 1123.00 | -43.76 | -3.75% | Nasdaq | 20:00 | 2442.86 | -95.33 | -3.76% | FTSE 100 | 17:35 | 5041.61 | -246.80 | -4.67% | DAX | 18:06 | 5164.21 | -269.59 | -4.96% | CAC40 | 18:06 | 2781.68 | -154.14 | -5.25% | Nikkei | 08:26 | 8560.26 | -160.98 | -1.85% | Shanghai | 09:26 | 2443.06 | -69.90 | -2.78% | Hang-Seng | 09:46 | 17956.48 | -1058.32 | -5.57% | All Ords | 08:36 | 4044.70 | -108.90 | -2.62% | NZSE 50 | 07:46 | 3312.28 | 21.66 | 0.66% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1735.18 | -42.95 | -2.41% | Gold/Rand | 20:00 | 14371.98 | -372.31 | -2.53% | Gold/R kg | 20:00 | 462059 | -14117 | -2.96% | Silver | 19:59 | 36.2780 | -3.2270 | -8.17% | Platinum | 19:59 | 1692.50 | -63.95 | -3.64% | Palladium | 19:59 | 649.55 | -37.35 | -5.44% | R157 | 16:06 | 7.02 | .18 | 2.63% | R204 | 16:06 | 8.01 | .17 | 2.17% | Brent Crude | 19:56 | 107.79 | -6.11 | -5.36% | Rand / Dollar | 19:59 | 8.2827 | -0.0034 | -0.04% | Rand / Pound | 19:55 | 12.6715 | -0.1367 | -1.07% | Rand / Euro | 19:55 | 11.1305 | -0.1168 | -1.04% | Rand / NZD | 19:58 | 6.4342 | -0.2250 | -3.38% | Rand / AUD | 19:55 | 8.0698 | -0.2602 | -3.12% | Yen / Dollar | 19:54 | 76.4200 | -0.0100 | -0.01% | Euro / Dollar | 19:55 | 0.7429 | 0.0072 | 0.98% | Dollar / Euro | 19:58 | 1.3454 | -0.0133 | -0.98% | Pound / Dollar | 19:55 | 0.6509 | 0.0066 | 1.02% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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22/09/2011 | 84 | 295 | 76 | 455 | 343,357,592 | R16,082,172,240 | 145026 | 3013650 | 21/09/2011 | 246 | 172 | 86 | 504 | 300,562,590 | R15,640,701,953 | 126528 | 2524242 | 20/09/2011 | 237 | 124 | 87 | 448 | 233,481,242 | R12,127,472,792 | 87645 | 2517231 | 19/09/2011 | 151 | 206 | 79 | 436 | 453,259,208 | R12,611,007,070 | 101516 | 2456355 | 16/09/2011 | 186 | 153 | 86 | 425 | 298,294,485 | R11,990,751,285 | 95565 | 2438342 |
Index Summary Index Name | RP | Move | % Move | Top 40 | 27,050.66 | -945.57 | -3.38% | Industrial | 31,959.97 | -1066.90 | -3.23% | Mid Cap | 41,093.88 | -891.07 | -2.12% | Small Cap | 31,163.51 | -389.69 | -1.24% | Resource 20 | 49,805.34 | -1772.15 | -3.44% | Industrial 25 | 26,866.92 | -956.96 | -3.44% | Financial 15 | 7,737.88 | -234.56 | -2.94% | Financial & Ind. 30 | 29,686.11 | -1026.46 | -3.34% | All Share | 30,323.04 | -988.13 | -3.16% | Oil & Gas | 25,699.86 | -530.08 | -2.02% | Mining | 32,739.02 | -1205.26 | -3.55% | Gold Mining | 3,124.00 | -41.71 | -1.32% | Platinum Mining | 64.99 | -.51 | -0.78% | GENERAL MINING | 7,654.58 | -383.85 | -4.78% | Oil & Gas Producers | 13,818.34 | -285.02 | -2.02% | Basic Materials | 27,627.14 | -1023.28 | -3.57% | Chemicals | 12,301.93 | -185.72 | -1.49% | Forestry & Paper | 12,555.69 | -496.69 | -3.81% | Industrial Metals | 26,377.16 | -1204.02 | -4.37% | Industrials | 26,472.96 | -806.32 | -2.96% | General Industrials | 73,745.56 | -2545.88 | -3.34% | Consumer Goods | 27,332.47 | -946.07 | -3.35% | Automobiles & Parts | 3,620.87 | -2.26 | -0.06% | Household Goods | 145.72 | -5 | -3.29% | Health Care | 33,583.35 | -349.67 | -1.03% | Beverages | 88.69 | -1.87 | -2.06% |
| | Index Name | RP | Move | % Move | Food Producers | 48,051.79 | -552.29 | -1.14% | Personal Goods | 405.10 | -25.77 | -5.98% | Consumer Services | 52,460.15 | -1681.47 | -3.11% | General Retailers | 42,867.53 | -1842.42 | -4.12% | Travel & Leisure | 3,534.06 | -40.08 | -1.12% | Media | 76.65 | -2.47 | -3.12% | Support Services | 2,182.62 | -12.61 | -0.57% | Telecommunications | 65,032.00 | -2581.84 | -3.82% | Financials | 20,746.22 | -559.54 | -2.63% | Banks | 38,750.68 | -1183.21 | -2.96% | Non-life Insurance | 33,221.26 | -317.66 | -0.95% | Life Insurance | 15,179.28 | -486.42 | -3.11% | General Financial | 2,090.09 | -60.45 | -2.81% | Technology | 23,193.97 | -257.39 | -1.10% | SHARIAH TOP40 | 2,936.86 | -113 | -3.72% | FTSE/JSE SHARIAH ALL | 3,002.00 | -110 | -3.55% | COAL MINING | 24,998.32 | -1105 | -4.23% | FTSE JSE Fledgling | 4,464.12 | -69 | -1.53% | FTSE/JSE Alt X | 1,115.86 | -11 | -0.99% | SA LISTED PROPERTY | 379.84 | | -1.08% | CAPPED PROPERTY | 310.52 | | -1.30% | RESOURCE | 27,644.27 | -957 | -3.34% | DIVIDEND PLUS | 163.70 | -5 | -2.76% | FTSE/JSE RAFI 40 | 6,253.05 | -212 | -3.28% | Capped Top 40 | 14,262.17 | -483 | -3.28% | Capped All Share | 15,335.13 | -494 | -3.12% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | NED | NEDBANK GROUP LTD | HOLD | 20 Sep | SBK | STANDARD BANK GROUP LIMIT... | SELL | 20 Sep | AIP | ADCOCK INGRAM HLGS LD | HOLD | 20 Sep | LHC | LIFE HEALTHCARE GRP HLDG ... | BUY | 20 Sep | SAB | SABMILLER PLC | HOLD | 20 Sep |
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Results Expected** Expected | Company Name | Fin. Date | 23 Sep 2011 | AFEAGLE | June 2011 (Interim) | 23 Sep 2011 | BOWCALF | June 2011 (Final) | 26 Sep 2011 | AMAPS | June 2011 (Final) | 27 Sep 2011 | AFRO-C | June 2011 (Final) | 27 Sep 2011 | AFROC-P | June 2011 (Final) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | KGMEDIA | 11-09-22 | 11-10-07 | 11-10-17 | R 0.3800 | ELBGROUP | 11-09-21 | 11-10-21 | 11-10-31 | R 0.4000 | ELBGROUP6 | 11-09-21 | 11-10-21 | 11-10-31 | R 0.0600 | ADAPTIT | 11-09-21 | 11-10-14 | 11-10-24 | R 0.0284 | CASHBIL | 11-09-20 | 11-10-07 | 11-10-17 | R 1.3900 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | MWNT | 11-09-09 | 11-09-16 | 11-09-30 | R 55.0000 | MWNT | 11-09-09 | 11-09-16 | 11-09-30 | R 55.0000 | ARM | 11-08-31 | 11-09-16 | 11-09-26 | R 4.5000 | CAPITEC-P | 11-08-31 | 11-09-16 | 11-09-26 | R 3.4027 | PSGFIN PREF | 11-09-01 | 11-09-16 | 11-09-26 | R 3.4024 |
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Upcoming AGMs** Code | Company Name | Date | Status | RACC | RECM - Calibre Ltd | 22/09/2011 | Confirmed | COLP | Colliers South Africa Holdings Ltd | 22/09/2011 | Confirmed | RACP | RECM - Calibre Ltd | 22/09/2011 | Confirmed | COL | Colliers South Africa Holdings Ltd | 22/09/2011 | Confirmed | BSS | BSI Steel Ltd | 23/09/2011 | Confirmed |
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