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Monday, 31 October 2011 - 20:00
Charts
S.Africa's rand weaker, struggles to shake off weakness
By Phumza Macanda
JOHANNESBURG (Reuters) - South Africa's rand weakened sharply against the dollar on Monday as the greenback rallied across the board after the Bank of Japan's steps to weaken the yen.
The rand has been struggling to shrug off a weaker tone that saw it plunge to a 28-month low of 8.4950 against the dollar in September and has been at the mercy of fickle global sentiment in the past two months.
After its best week in two years, the rand was on the back foot on Monday as investors turned their backs on risky assets worried that last week's agreement to recapitalise banks was not enough to bring an end to the euro zone debt crisis.
Even data showing the biggest economy in Southern Africa recorded a surplus of 2.5 billion rand in September was not enough to boost the rand with dealers taking direction from battered world markets.
The rand was trading at 7.86 to the dollar at 1550 GMT, 1.68 percent weaker than Friday's New York close of 7.73.
"I fear the rand is going to move more towards the weaker side. I see it closer to 8.00 than 7.50 by the end of the year," said Ion de Vleeschauwer, chief dealer at Bidvest Bank.
"There are still huge structural issues in the euro zone in the medium to long term and the longer the crisis drags on the more the rand is going to remain under pressure."
With such an uncertain outlook, importers are likely to take advantage of the brief periods of rand firmness to buy dollar, limiting any significant rand gains in the near future.
South African government bonds followed the rand weaker, with yields rising from multi-week lows seen Friday.
The yield on the 2015 bond went up 3.5 basis points 6.595 percent and that on the 2026 issue was up 6.5 basis points to 8.31 percent.
Focus on Tuesday will be on Purchasing Managers' Index, which has been in contraction mode for two consecutive months and if it stays below the break-even point of 50, it will keep hopes of another rate cut alive.
Unemployment figures for the third quarter at 0930 GMT should shed further light on whether the country continues to shed jobs, even two years after it exited its first recession in almost two decades.
Mon, 31 Oct 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-10-31T173847Z_01_AJOE79U1D0Q00_RTROPTP_3_OZABS-MARKETS-SAFRICA-STOCKS-20111031.JPG "Electronic board displaying movements in major indices is seen at Johannesburg stock exchange in Sandton") South African stocks ended their strongest month since mid 2009 on weaker note on Monday as faltering commodity prices weighed on miners. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-10-31T081142Z_01_AJOE79U0MRK00_RTROPTP_3_OZABS-MONDI-20111031.JPG "To match feature BULGARIA-INVESTMENT/") Paper maker Mondi said on Monday it plans more cost cuts as the sector struggles to recover from a slump caused by weak demand and overcapacity, exacerbated by a slowdown in the global economy. Full story |
 Three Afghans working for the Office of the United Nations High Commissioner for Refugees (UNHCR) were killed in a suicide attack in the southern Afghan city of Kandahar early on Monday, the UNHCR said, two days after a deadly bombing in the capital. Full story  Kyrgyzstan's Moscow-backed prime minister claimed victory on Monday in a presidential election tainted by charges of voting abuses and protests by defeated challengers from the restive south of the former Soviet republic. Full story  NATO ends its military operation in Libya at midnight on Monday, seven months after launching an air and sea campaign that helped bring the overthrow and death of Muammar Gaddafi. Full story |
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Markets |
Gold lost nearly 1
percent of its value in thinner-than-usual trade on Monday,
after Japan's intervention to weaken the yen sent the dollar
soaring. . . Full story |
Britain's top share index fell
back on Monday, led by weaker miners and energy issues, as
commodity prices retreated under the influence of. . . Full story |
European stocks ended the last
session of the month in red on Monday, as the resurgence of
worries over Italy's debt and U.S.. . . Full story |
World equities fell on Monday
as commodity shares sank on a stronger dollar following Japan's
intervention to weaken the yen.. . . Full story | |||
U.S. stocks fell more than 1
percent on Monday as enthusiasm over the agreement to tackle
the euro zone debt crisis waned and. . . Full story |
U.S. stocks fell at the open
on Monday after four weeks of gains, as a spike in the U.S.
dollar weighed on commodity. . . Full story |
World equities fell on Monday
after commodity shares were hit by a stronger dollar which
jumped in the wake of Japanese intervention to. . . Full story |
Banks led European shares lower
on Monday, giving up some of last week's hefty gains as demand
for detail on the recent euro. . . Full story | ||||
SA Business |
When Zambian farming firm Zambeef Products began considering a dual listing of its stock, it looked at both the Johannesburg exchange. . . Full story |
Growth in credit demand by South Africa's private sector slowed to 5.47 percent year-on-year in September from 6.06 percent growth in. . . Full story |
South Africa's rand weakened sharply against U.S. dollar on Monday from last week's rally after Japanese authorities intervened to weaken their. . . Full story |
Harmony Gold, South Africa's third-largest gold producer, posted a more than three-fold increase in quarterly earnings on Monday, beating expectations on. . . Full story | |||
Angola plans to introduce a fund to guarantee bank deposits next year, state news agency Angop cited the country's central bank. . . Full story | South Africa's National Union of Mineworkers said on Monday it had agreed a wage deal with Exxaro for workers at the. . . Full story | South African retail lender Capitec Bank said it would raise up to $110 million by issuing new shares to fund its. . . Full story | South Africa's trade account recorded a trade surplus of 2.5 billion rand in September compared with a 3.7 billion rand shortfall. . . Full story |
Harmony Gold, South Africa's third-largest gold miner, said on Monday its output target for the 2012 financial year remained unchanged after the company posted a slight increase in first-quarter production.. . . Full story |
Company News |
Implats announce the appointment of Almorie Maule as an independent non-executive director to the board of directors of the company effective. . . Full story |
Shareholders were advised that the integrated annual report, which includes the audited annual financial statements, will be distributed to shareholders on. . . Full story |
Shareholders are referred to company's circular to shareholders dated 15 August 2011 ("the Circular") and to its various SENS announcements. . . Full story |
Shareholders are advised that StratCorp is currently finalising its results for the six months ended 31 August 2011 and anticipates. . . Full story | |||
Shareholders were referred to the announcements released on SENS on 14 June 2011, 22 August 2011, 21 September 2011 and the. . . Full story |
Great Basin announced an addition to its management team with the appointment of Joseph M (Joe) Driscoll as Vice President (VP). . . Full story |
Shareholders are referred to the article in the Business Day today regarding BSM Mining's application with the North Gauteng High. . . Full story |
On 28 October 2011 Colin Brayshaw has tendered his resignation as an independent, non-executive director of Evraz Highveld Steel and Vanadium. . . Full story | ||||
Company Results | Revenue for the interim period ended 30 September 2011 increased to R186.6 million (2010: R151.4 million). Gross profit rose to R73.1 million (2010: R44.6 million), operating loss narrowed to R8.6 million (2010: R52.8 million), while loss for the period lowered to. . . Full story | Revenue improved to R3.9 billion (R3.1 billion) and gross profit rose remarkably to R737 million (R88 million). The company recorded an operating profit of R585 million (loss of R159 million), while net profit attributable to ordinary shareholders grew drastically to R478. . . Full story |
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 31/10/2011 | 141 | 235 | 77 | 453 | 307,350,569 | R14,047,499,056 | 119343 | 1922822 |
| 28/10/2011 | 226 | 127 | 88 | 441 | 360,787,495 | R16,414,212,157 | 120979 | 2537424 |
| 27/10/2011 | 276 | 102 | 77 | 455 | 349,734,097 | R17,962,346,304 | 125835 | 2424035 |
| 26/10/2011 | 171 | 147 | 90 | 408 | 287,903,124 | R12,747,403,174 | 86206 | 2115920 |
| 25/10/2011 | 222 | 153 | 84 | 459 | 294,009,374 | R14,997,571,591 | 122393 | 2584048 |
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Stock Exchange News Service
| Date | Time | Headline |
| 31/10/2011 | 17:45 | Impala Platinum Holdings Limited - Implats appoints a new Independent Non- |
| 31/10/2011 | 17:36 | ELR/ELRP - ELB Group Limited - No change statement and notice of Annual General |
| 31/10/2011 | 17:35 | utionary |
| 31/10/2011 | 17:27 | Grand Parade Investments Limited - Proposed Restructure - Conditions |
| 31/10/2011 | 17:25 | Datacentrix Holdings Limited - Change of sponsor |
| 31/10/2011 | 17:25 | OML - Old Mutual Plc - Form 8.3 |
| 31/10/2011 | 17:24 | Metmar Limited - Dealings in securities by directors |
| 31/10/2011 | 17:00 | Stratcorp Limited - Trading Update |
| 31/10/2011 | 16:30 | Woolworths Holdings Limited - Exercise of options and subsequent |
| 31/10/2011 | 16:28 | BIIND - iNdwa Investments Limited - New Instrument Listing and Listing of Tap |
| 31/10/2011 | 16:15 | RBA Holdings Limited - Designated Adviser dealing in securities |
| 31/10/2011 | 16:00 | African Dawn Capital Limited - Results of the rights offer |
| 31/10/2011 | 16:00 | Life Healthcare - Trading Statement |
| 31/10/2011 | 15:46 | Invicta Holdings Limited - Trading statement for the six months ended 30 |
| 31/10/2011 | 15:24 | AH-Vest Limited - Trading update |
| 31/10/2011 | 15:13 | THEE - The Competition Commission - Commission refers predatory pricing case |
| 31/10/2011 | 15:00 | CLR/CLRP - Clover Industries Limited - Dealing in securities by a |
| 31/10/2011 | 14:30 | Great Basin Gold Limited - Appointment of Vice President for the Nevada |
| 31/10/2011 | 14:08 | Anglo American plc - Treasury shares - transfers |
| 31/10/2011 | 14:06 | UTR - Unitrans Services Limited - Results of meeting of |
| 31/10/2011 | 13:44 | INL/INP - Investec Limited/Investec plc - Form 8 (DD) |
| 31/10/2011 | 13:43 | INL/INP - Investec Limited/Investec plc - Form 8 (DD) |
| 31/10/2011 | 13:22 | Wescoal Holdings Limited - Legal dispute with BSM Mining |
| 31/10/2011 | 13:20 | Capital Shopping Centres Group Plc - Notification of transactions |
| 31/10/2011 | 13:10 | CBL09 - Capitec Bank Limited - Interest rate reset announcement |
| 31/10/2011 | 13:08 | Rolfes Technology Holdings Limited - Dealing in securities by a |
| 31/10/2011 | 13:07 | BIBG3 - Blue Granite Investments No.3 (Proprietary) Limited - New |
| 31/10/2011 | 13:00 | Evraz Highveld Steel and Vanadium Limited - Resignation of independent |
| 31/10/2011 | 12:53 | Alert Steel Holdings Limited - Pro-forma restructured statement |
| 31/10/2011 | 12:30 | INL/INP - Investec Limited/Investec plc - Voting Rights and Capital |
| 31/10/2011 | 12:24 | FRC08 - FirstRand Bank Limited - Interest rate reset announcement |
| 31/10/2011 | 11:37 | Firestone Energy Limited - Appendix 5B Mining exploration entity |
| 31/10/2011 | 11:22 | Firestone Energy Limited - Quarterly activities report for the |
| 31/10/2011 | 11:19 | GEN - FTSE/JSE Africa Index Series - Chemical Specialities (South Africa): |
| 31/10/2011 | 11:17 | Net 1 UEPS Technologies, Inc. - Notice of Annual General Meeting |
| 31/10/2011 | 11:14 | GEN - FTSE/JSE Africa Index Series - Chemical Specialities - Shares in Issue |
| 31/10/2011 | 11:11 | GEN - FTSE/JSE Africa Index Series - Santova Logistics - Transfer of Listing |
| 31/10/2011 | 11:06 | ASA/ABSP - Absa Group Limited/Absa Bank Limited - Reference to Barclays |
| 31/10/2011 | 11:00 | Shoprite Holdings Limited - Results of Annual General Meeting |
| 31/10/2011 | 10:58 | DiamondCorp plc - Total voting rights |
| 31/10/2011 | 10:48 | Tawana Resources NL - Mining Exploration entity quarterly report |
| 31/10/2011 | 10:45 | SABMiller plc - Total voting rights and capital |
| 31/10/2011 | 10:25 | Rolfes Technology Holdings Limited - Acquisition of Agchem |
| 31/10/2011 | 10:21 | Country Bird Holdings Limited - Country Bird Holdings repays |
| 31/10/2011 | 10:20 | Country Bird Holdings Limited - Notification in terms of section |
| 31/10/2011 | 10:19 | Metrofile Holdings Limited - No change statement and notice of |
| 31/10/2011 | 10:15 | Country Bird Holdings Limited - Dealings in securities |
| 31/10/2011 | 10:15 | INL/INP - Investec Limited/Investec Plc - Disclosure in accordance with Rule |
| 31/10/2011 | 09:05 | SCIB - The Standard Bank of South Africa Limited - Issue of stock |
| 31/10/2011 | 09:04 | Redefine Properties International Limited - Notice of period end results |
| 31/10/2011 | 09:00 | Capital Shopping Centres Group Plc - Interim Management Statement for |
| 31/10/2011 | 09:00 | Shoprite Holdings Limited - Operational update |
| 31/10/2011 | 09:00 | MND/MNP - Mondi Limited/Mondi plc - Interim Management Statement 31 |
| 31/10/2011 | 08:32 | Taste Holdings Limited - Change in company secretary |
| 31/10/2011 | 08:32 | Aquarius Platinum Limited - Posting of annual report |
| 31/10/2011 | 08:32 | Aquarius Platinum Limited - Notice of Annual General Meeting and |
| 31/10/2011 | 08:30 | CPI/CPIP - Capitec Bank Holdings Limited - Proposed placing of up to 4,644,952 |
| 31/10/2011 | 08:27 | AFGRI Limited - Dealings in securities by directors |
| 31/10/2011 | 08:24 | Bonatla Property Holdings Limited - Unaudited consolidated condensed |
| 31/10/2011 | 08:00 | Chemical Specialities Limited - Interim results for the six months ended |
| 31/10/2011 | 07:30 | JD Group Limited - Trading Statement |
| 31/10/2011 | 07:10 | British American Tobacco p.l.c - Transaction in own shares |
| 31/10/2011 | 07:06 | Harmony Gold Mining Company Limited - Harmony achieves record operating |
| 31/10/2011 | 07:06 | NBAGL2 - Nedbank Capital - Expiry and delisting announcement in relation |
| 31/10/2011 | 07:05 | Harmony Gold Mining Company Limited - Results for the period ended |
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