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 The Sharenet Daily 
Monday, 12 December 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)

Average Monthly Equity Market Gains

Before we start today's report, Seed is in the process of looking for someone to fill an exciting new role as an Assistant to the Wealth Managers. For more information please visit our Facebook page and have a look at the job specification. Please share with any suitable family and friends.

Looking back over an extended period of time, it is interesting to note the gains made by the local equity market on a month by month basis. We have analysed the month by month returns from the local equity market since 1970 and charted these monthly averages. The returns include dividends received – i.e. they are the total return from an investment tracking the JSE All Share index.

Firstly, given the general upward trend of the market over the long term, it is natural to find an average gain per month, with June being the lowest average at just 0.3%.

However what stands out is the average gain in each December month since 1970, which at 4.1% is far ahead of the next best month July at 2.5%.

Average monthly gains on the JSE per month from 1970:

We do know that averages can conceal a lot of variation and so looking back at the last 11 December periods, we find that only 2 out of the 11 periods produced a negative total return.

The highest gain in this time period was 11% in December 2001 – a year when the market as a whole produced a total return of 28.9%.

Gains on the JSE each December:

So the question is what is likely to happen in December 2011? Well, despite the history of generally positive performance in December, we would not want to infer too much from this.

For the year to date to the end of November the local equity market is up just over 5%, and over the last 12 months it is up 11.7%. Given that these returns are below the average annual return since 1960 of 19.4%, there is a possibility of a good end to the year.

On the other hand we have the world focusing on the European Union summit, which starts on Thursday night. The market is looking for a unified and positive outcome, but there remain many differences between the member countries as to the ideal policy and model. Watching very closely is the rating agency Standard and Poor, which has put 15 of the 17 euro countries onto credit watch negative, with a possible debt downgrade following this weekend.

The stakes are high. The market has been pushing the politicians to come up with credible solutions to the current treaty, which clearly has structural problems.

Because of the high correlations of global markets, a positive outcome over this coming weekend, together with the rating agencies holding back on any downgrades has a high probability of a rally in global equity markets to the end of the year.

Kind regards,

Ian de Lange
021 9144 966

Mon, 12 Dec 2011
Top News
Zimbabwe's Mimosa mine, a joint venture between Impala Platinum and Aquarius, has given a 10 percent stake to locals, a government minister said on Monday, as it aims to meet a controversial law on local ownership.  Full story

South African stocks slid 1.4 percent on Monday, as a sharp decline in precious metal prices hit miners such as Gold Fields and Impala Platinum.  Full story
Prime Minister Adel Safar urged Syrians to vote in local elections on Monday to save the nation from "conspiracies against us" but activists struggling to oust President Bashar-al Assad rejected the ballot as irrelevant at a time of violent unrest.  Full story
Manuel Noriega, Panama's drug-running military dictator of the 1980s, was extradited back to the country on Sunday and taken straight to prison to serve a 20-year sentence for the murders of opponents during his rule.  Full story
Italy began a week of strikes by the three biggest labour unions against Prime Minister Mario Monti's 33-billion-euro austerity package, which the government may soften slightly to meet some of their demands.  Full story
Gold tumbled 3 percent on Monday, headed for its largest one-day drop in nearly three months, as a dollar surge amid doubts. . .  Full story
U.S. stocks fell about 2 percent on Monday on lingering worries over a deal for economic integration in Europe and after Intel. . .  Full story
Global stocks and the euro slid on Monday as investors took a dim view on whether last week's plan to enhance fiscal discipline in. . .  Full story
Britain's FTSE 100 fell in light volume on Monday, with investors selling riskier banking and mining assets as analysts concluded the lack of. . .  Full story

European shares posted their biggest fall in three weeks on Monday, as investors worried the measures outlined at last week's EU summit to strengthen. . .  Full story
European shares extended falls on Monday in thin trade, as concerns persisted that the measures outlined at last week's EU summit would be. . .  Full story
U.S. stocks opened lower on Monday on lingering concerns about a deal over economic integration in Europe and after Intel Corp cut its. . .  Full story
European shares retreated on Monday as enthusiasm faded over a European Union deal on greater fiscal integration, with the market unconvinced that the EU. . .  Full story
SA Business
South Africa's rand tumbled 2 percent against the dollar on Monday and government bonds weakened on soured sentiment stemming from a European Union plan seen as insufficient to contain that region's debt crisis.. . .  Full story
Dubai's Aramex has completed the acquisition of South Africa logistics and transportation company Berco Express Ltd., for an undisclosed amount, the company said in a statement on Monday.. . .  Full story

Northam Platinum, one of South Africa's smaller platinum producers, said on Monday its only producing mine has been hit by several stoppages due to government safety inspections.. . .  Full story
. . .  Full story
South Africa's rand started weaker against the dollar on Monday and was seen under pressure as the market was disappointed by Friday's European Union summit, which did not offer a concrete. . .  Full story
Company News
Aquarius announced that as part of the continuing negotiations between its indirect 50% subsidiary Mimosa Holdings (Pvt) Ltd ("Mimosa") and the. . .  Full story
The board of directors of Actowers ("board") informed shareholders that Mr Pieter Sarel Nicolaas Swart has resigned as the financial director. . .  Full story
Sanyati shareholders ("shareholders") are advised that a circular has been posted today setting out the relevant information relating to approval of. . .  Full story
This is a notice in terms of section 45(5) of the Act. On 20 July 2011, the shareholders of Grindrod approved. . .  Full story

Shareholders are advised that the annual report for the year ended 30 June 2011, was dispatched to shareholders today and contains. . .  Full story
Following the disclosure of the terms of the Clinker Group acquisition, shareholders are no longer required to exercise caution when dealing. . .  Full story
The directors of Afrimat announced that the company has entered into an agreement to acquire 100% of the issued ordinary share. . .  Full story
Mr Paul Mpho Makwana has been appointed as an independent non-executive director of Adcock with effect from 1 February 2012.. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0032270.06-362.86-1.11%
JSE Top 4017:0028772.86-396.75-1.36%
JSE Gold17:003038.46-66.02-2.13%
JSE Financial17:0021900.38-138.09-0.63%
JSE Industrial17:0034303.97-226.79-0.66%
JSE Indust 2517:0028759.22-221.25-0.76%
JSE Resource17:0052871.44-1011.13-1.88%
DJ Futures19:4011880.00-263.00-2.17%
DJ Ind19:4111969.70-214.56-1.76%
SP 50019:561230.76-24.43-1.95%
FTSE 10018:355427.86-101.35-1.83%
All Ords07:364311.4047.301.11%
NZSE 5006:463299.5128.050.86%
NameTimeRPMove% Move
Gold/R kg19:56441837-2273-0.51%
Brent Crude19:56107.47-.13-0.12%
Rand / Dollar19:598.26060.15921.97%
Rand / Pound19:5512.85600.20901.65%
Rand / Euro19:5510.90760.08360.77%
Rand / NZD19:586.30240.03390.54%
Rand / AUD19:558.32600.06230.75%
Yen / Dollar19:5977.85000.23200.30%
Euro / Dollar19:550.75710.00891.19%
Dollar / Euro19:591.3202-0.0160-1.20%
Pound / Dollar19:550.64080.00180.28%

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

Major Moves Up
SharenameSaleMove% MoveVolume
1 RANGOLD  2753012.24.%17424
2 MIXTEL  1601510.34.%1500
3 FAIRVEST  124119.73.%8000
4 AFRIMAT  465337.64.%25695
5 DORBYL  17095.59.%41701
6 DISTELL  72003505.11.%5
7 MVELASERV  970404.30.%23229
8 HOSP-B  530203.92.%1194291
9 TRENCOR  38101353.67.%276954
10 DELTA  798283.64.%9990
11 LITHA  25383.27.%427312
12 TRUSTCO  10333.00.%264384
13 SOVFOOD  485142.97.%7981
14 RMIH  1402402.94.%151264980
15 ESORFRANK  14442.86.%80211
16 ELBGROUP  2200602.80.%420
17 INVPROP  1139292.61.%7996
18 NETCARE  1374332.46.%2022592
19 CROOKES  4199992.41.%110
20 PICKNPAY  47431102.37.%1256131

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Major Moves Down
SharenameSaleMove% MoveVolume
1 ANOORAQ  386-54-12.27.%9080
2 CALGRO  280-20-6.67.%126174
3 DRDGOLD  526-31-5.57.%885466
4 AQUARIUS  2107-118-5.30.%338884
5 IMPLATS  16755-871-4.94.%2551467
6 CLIENTELE  1151-49-4.08.%13600
7 NICTUS  240-10-4.00.%8115
8 ARGENT  620-25-3.88.%40023
9 PERGRIN  1000-39-3.75.%8100
10 URONE  1858-68-3.53.%18880
11 TIGBRANDS  23750-857-3.48.%430582
12 MUSTEK  560-20-3.45.%147541
13 GBGOLD  900-30-3.23.%10135
14 SABLE  1550-50-3.13.%250
15 PALLINGHT  320-10-3.03.%18800
16 GFIELDS  13024-403-3.00.%942950
17 ASSORE  21054-646-2.98.%32252
18 PLATMIN  165-5-2.94.%16362
19 PNR-FOODS  5775-175-2.94.%114769
20 CIL  1000-30-2.91.%43500

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New Highs
SharenameSaleHighMove% MoveVolume
1 RMIH  14021402402.94.%151264980
2 ELBGROUP  22002283602.80.%420
3 KAP  27527551.85.%1400
4 BATS  38881392265811.52.%1076509
5 CASHBIL  11400114001501.33.%14538
6 HOLDSPORT  3695372550.14.%15350

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New Lows
SharenameSaleLowMove% MoveVolume
1 CMH  925925-23-2.43.%950
2 RAUBEX  12001200-8-0.66.%674161

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Index Summary
Index NameRPMove% Move
Top 4028,772.86-396.75-1.36%
Mid Cap43,916.0185.660.20%
Small Cap32,923.722.640.01%
Resource 2052,871.44-1011.13-1.88%
Industrial 2528,759.22-221.25-0.76%
Financial 158,213.23-72.60-0.88%
Financial & Ind. 3031,672.62-274.54-0.86%
All Share32,270.06-362.86-1.11%
Oil & Gas 29,589.81-165.75-0.56%
Mining 34,161.51-737.07-2.11%
Gold Mining3,038.46-66.02-2.13%
Platinum Mining61.50-2.36-3.70%
GENERAL MINING8,333.31-155.40-1.83%
Oil & Gas Producers 15,909.89-89.12-0.56%
Basic Materials 28,840.18-587.94-2.00%
Chemicals 13,759.11-21.79-0.16%
Forestry & Paper 11,842.40-182.76-1.52%
Industrial Metals 29,071.45-131.11-0.45%
Industrials 28,419.74-109.37-0.38%
General Industrials 80,098.96-279.70-0.35%
Consumer Goods 29,336.51-97.20-0.33%
Automobiles & Parts 4,300.21-2.26-0.05%
Household Goods157.74-1-0.91%
Health Care 35,659.77126.170.36%
Beverages 95.52.850.90%
Index NameRPMove% Move
Food Producers 53,759.60-990.01-1.81%
Personal Goods 425.07-6.60-1.53%
Consumer Services 57,091.93-338.82-0.59%
General Retailers 48,791.30-557.66-1.13%
Travel & Leisure 3,706.9016.860.46%
Media 73.97-.53-0.71%
Support Services 2,172.5567.413.20%
Telecommunications 69,338.30-1349.39-1.91%
Financials 21,900.38-138.09-0.63%
Banks 40,930.46-527.69-1.27%
Non-life Insurance 33,948.73121.250.36%
Life Insurance 16,622.631.020.01%
General Financial 2,126.14-35.42-1.64%
Technology 25,469.232.020.01%
SHARIAH TOP40 3,118.90-56-1.78%
FTSE/JSE SHARIAH ALL3,183.71-52-1.61%
COAL MINING23,602.44-479-1.99%
FTSE JSE Fledgling 4,709.18-8-0.16%
FTSE/JSE Alt X 1,217.64-31-2.50%
RESOURCE 29,253.42-562-1.88%
DIVIDEND PLUS177.29-1-0.38%
FTSE/JSE RAFI 406,660.64-86-1.27%
Capped Top 4015,138.63-204-1.33%
Capped All Share16,307.62-182-1.10%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
15 Dec 2011RACECSeptember 2011 (Final)
15 Dec 2011TELEMASTRSeptember 2011 (Final)
21 Dec 2011MARSHALLSeptember 2011 (Final)
21 Dec 2011MARSHALL-September 2011 (Final)
22 Dec 2011JOHNDANSeptember 2011 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
NAMPAK 6.511-12-0812-01-2012-01-30R 0.0650
NAMPAK 6%P11-12-0812-01-2012-01-30R 0.0600
CLOVERPREF11-12-0711-12-2212-01-03R 0.0586
SALLIES-C11-12-0711-12-2212-01-03R 0.0252
LIBHOLD1111-12-0511-12-2212-01-03R 0.0550
Ex Div**
Share NameDec-DateLDTPay-DateAmount
ABIL PREF11-11-2111-12-0811-12-19R 3.1000
ABIL11-11-2111-12-0811-12-19R 1.0000
MRPRICE11-11-1511-12-0811-12-19R 0.9360
FAMBRANDS11-10-2011-12-0811-12-19R 0.8000
VUKILE11-11-2111-12-0811-12-19R 0.5431

Upcoming AGMs**
CodeCompany NameDateStatus
RARRare Holdings Ltd13/12/2011Confirmed
RARPRare Holdings Ltd13/12/2011Confirmed
UBUUbubele Holdings Ltd14/12/2011Confirmed
DNPPDistribution and Warehousing Network Ltd15/12/2011Confirmed
ACTAfroCentric Investment Corporation Ltd15/12/2011Unconfirmed

Stock Exchange News Service
12/12/201117:50 Old Mutual Plc - Notice of early redemption to the holders of the Old
12/12/201117:43 Lonmin Plc - Annual Report and 2012 Annual General Meeting
12/12/201117:35CCO - Capital & Counties Properties PLC - Transactions of Director / PDMR
12/12/201117:30IMPNIL - Nedbank Limited - SENS announcement issue of share instalments
12/12/201117:29 Aquarius Platinum Limited - Update on Zimbabwean Indigenisation process
12/12/201117:16OML - Old Mutual plc - Form 8.3
12/12/201117:15OML - Old Mutual Plc - Form 8.3
12/12/201117:00 SABMiller plc - Director/PDMR Shareholding
12/12/201116:34 IFA Hotels & Resorts Limited - Renewal of cautionary announcement
12/12/201115:54RDFIHD - Investec Bank Limited - Adjustment to the terms and conditions
12/12/201115:53RDFIDH - Investec Bank Limited - Adjustment to the terms and conditions of
12/12/201115:52RDFIVC - Investec Bank Limited - Adjustment to the terms and conditions of
12/12/201115:51RDFIVB - Investec Bank Limited - Adjustment to the terms and conditions of
12/12/201115:50IVA211 - iVuzi Investments Limited - Listing of New Financial Instrument
12/12/201115:18 Bowler Metcalf Limited - Results of annual general meeting and changes
12/12/201115:11 Taste Holdings Limited - Directors` dealings in securities
12/12/201115:10ART - Africa Cellular Towers Limited - Change to the board of directors
12/12/201115:05 Sanyati Holdings Limited - Notice of General Meeting
12/12/201114:22GND/GNDP - Grindrod Limited - Notice in terms of section 45(5) of the
12/12/201114:18BIIVU - iVuzi Investments Limited - Listing of new financial instrument and
12/12/201113:59BK1P - BK One Limited - Additions to BK One`s investment portfolio
12/12/201113:50 Harmony Gold Mining Company Ltd - Harmony streamlines its listings
12/12/201113:46INL/INP - Investec Limited/Investec plc - Form 8 (DD)
12/12/201113:45INL/INP - Investec Limited/ Investec plc - Form 8 (DD)
12/12/201113:41 Poynting Holdings Limited - No Change statement and notice of Annual
12/12/201113:00 Telkom SA Limited - Announcement regarding a Potential Strategic
12/12/201112:52IPL/IPLP - Imperial Holdings Limited - Dealing in securities by directors
12/12/201112:39 Resilient Property Income Fund Limited - Dealing in securities
12/12/201112:37 Afrimat Limited - Acquisition by Afrimat of the Clinker Group and
12/12/201111:37 Purple Capital Limited - Results of Annual General Meeting
12/12/201110:53CAT - Caxton and CTP Publishers and Printers Limited - Results of Annual
12/12/201110:50SCIB - The Standard Bank of South Africa Limited - Adjustments to the terms
12/12/201110:50INL/INP - Investec - Rule 2.10 of the UK City Code on Takeovers and Mergers
12/12/201110:32 Adcock Ingram Holdings Limited - Appointment to the board of
12/12/201110:10 Calgro M3 - Dealings in securities by directors
12/12/201109:59RMH/RMI - RMB Holdings Limited/Rand Merchant Insurance Holdings Limited - Media
12/12/201109:58RMH/RMI/REM - RMB Holdings/Rand Merchant Insurance/Remgro Limited - Joint
12/12/201109:18 Skinwell - Cautionary announcement
12/12/201109:00 Central Rand Gold Limited - Review and setting aside of decision to cancel
12/12/201107:10 British American Tobacco p.l.c.- Transaction in own shares

Click here for more SENS news