Tuesday, 06 March 2012 - 20:00
Charts
S.Africa bond yields at 1 month highs, rand drags prices
By Xola Potelwa
JOHANNESBURG (Reuters) - The rand fell against the dollar on Tuesday, reflecting weakness in emerging market currencies as investors fret about the euro zone debt crisis and global growth, driving government bond yields to one-month highs even after a strong debt auction.
The short to medium term outlook for the currency and bonds was seen as positive, however, as carry trades are expected to support the high-yielding rand while March bond coupon payments should find their way back to cushion the debt market.
The government benchmark 2015 bond yield added 3 basis points to 6.71 percent while the 2026 yield climbed 2.5 basis points to 8.315 percent, levels last seen towards the end of January.
"Euro weakness and subsequent rand weakness has pushed yields to three-week highs, (however) March is a big coupon month which should support in the weeks ahead," said Steve Arnold, a bond trader at Investec Bank.
Yields on government bonds sold at auction earlier on Tuesday fell after the sale as secondary market demand pushed prices higher, especially on the 2021 bond, which attracted bids worth four times the amount of debt on offer.
"Seen in the context of a relatively quiet market, the strong result is quite positive. We believe fiscal data has supported a bond-bullish view, though it has not really come through in general price action yet," Leon Myburgh, sub-Sahara strategist at Citi bank in Johannesburg, said in a note.
The 2021 bond held on to some of those gains at the official close, while the 2018 and 2041 bonds ended steady.
The rand was down 1.22 percent on the dollar to 7.6475, and was the third worst performer in a basket of 20 emerging market currencies tracked by Reuters at 1530 GMT. It closed at 7.5550 in New York on Monday.
Investors are looking to early morning data on Wednesday to see if the central bank has upped its reserves accumulation, which was boosted in January by flows from an international bond sale. The reserves data is due at 0600 GMT.
Tue, 06 Mar 2012
Top News
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Markets | Britain's top share index
ploughed down through support levels on Tuesday as slowing
global growth and Greece's dithering over its debt swap plan
intensified. . . Full story | | U.S. stocks were on
track to post their worst day so far in 2012 on Tuesday as
recent government data rekindled concerns about. . . Full story | | Gold fell 2
percent in heavy volume on Tuesday after breaching a key
support, as renewed concerns about Greece's debt triggered
economic fears, while. . . Full story | | Global equities posted
their biggest declines in about three months and the euro
slumped on Tuesday on a new round of worries that. . . Full story |
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| European shares hit a
one-month closing low on Tuesday after fresh growth and Greek
debt-deal concerns drove a long-waited correction, after an
almost three-month. . . Full story | | U.S. stocks fell 1
percent at the open on Tuesday on renewed concerns that Greece
and private bondholders may not meet a looming. . . Full story | | European shares
extended losses into the U.S. open on Tuesday, led by autos and
banks.. . . Full story | | European shares were down
in thin volumes at midday on Tuesday on concerns Greece would
not be able to secure support for its. . . Full story |
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SA Business | South Africa's rand opened weaker against the dollar on Tuesday as lower growth expectations for China saw investors cutting their exposure to commodity-linked currencies, while euro weakness may also drag the local currency down.. . . Full story |
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| Brazil's government
promised aggressive new stimulus measures after data showed the
economy expanded just 2.7 percent in 2011, raising fears that
one of the. . . Full story | | International sanctions
have a patchy history, and Iran's oil elite have been dodging
them for decades.. . . Full story | | A major South African stock index stocks slid 2 percent on Tuesday as falling gold and platinum prices led to a. . . Full story | | Canadian miner Eastern Platinum recorded a quarterly loss, hurt by an impairment charge on its flagship Crocodile River mine in South. . . Full story |
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| South Africa's resource of coal bed methane is estimated at around 10 trillion cubic feet, the head of the national petroleum agency said on Tuesday.. . . Full story | | South Africa's biggest furniture maker Steinhoff International reported 48 percent jump in first-half profit, helped by acquisitions and favourable currency swings.. . . Full story |
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Company News | Shareholders are advised that, at the annual general meeting of EOH held on 6 March 2012, all the resolutions set out. . . Full story | | Shareholders are referred to the audited financial statements for the year ended 31 December 2011 announcement released on SENS on Monday,. . . Full story | | Stakeholders of the JSE are advised that, as a result of strong revenue performance and tight operating cost control for the. . . Full story | | Holders of Astrapak preference shares are advised that the salient dates for the eleventh dividend declaration in respect of the non-redeemable,. . . Full story |
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| Capshop announced that one of its subsidiaries has sold 4 060 606 shares of the common stock of Equity One, Inc.. . . Full story | | Fiuranium announced on March 2, 2012 that it had entered into agreements with respect to two separate transactions providing for the. . . Full story | | MMI Holdings Ltd., the diversified financial services group that includes Metropolitan and Momentum, today released a solid set of half-year results. . . Full story | | Taste announced the appointment of Mr. Sebastian Patel to the board as a non-executive director with effect from 5 March 2012.. . . Full story |
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Company Results | Revenue grew by 16.6% to R526.1 million (R451.4 million), while operating profit rose by 25.1% to R43.7 million (R34.9 million). Profit. . . Full story | | Revenue improved to R775.5 million (R682.3 million) and gross profit rose to R255.2 million (R230.9 million). However, results from operations dropped. . . Full story | | Revenue for the year ended 31 December 2011 increased to R1.9 billion (2010: R1.8 billion). Operating profit however more than halved. . . Full story | | Net income decreased to R23.9 billion (R24.7 billion). Net attributable profit was down to R805 million (R1.1 billion) and headline earnings. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 33387.04 | -644.73 | -1.89% | JSE Top 40 | 17:00 | 29612.31 | -624.47 | -2.07% | JSE Gold | 17:00 | 2547.64 | -58.67 | -2.25% | JSE Financial | 17:00 | 24223.63 | -482.03 | -1.95% | JSE Industrial | 17:00 | 36511.08 | -498.88 | -1.35% | JSE Indust 25 | 17:00 | 30621.49 | -455.20 | -1.46% | JSE Resource | 17:00 | 50881.33 | -1371.20 | -2.62% | DJ Futures | 20:00 | 12755.00 | -204.00 | -1.57% | DJ Ind | 19:45 | 12763.39 | -199.42 | -1.54% | SP 500 | 20:00 | 1343.53 | -20.80 | -1.52% | Nasdaq | 20:00 | 2907.68 | -42.80 | -1.45% | FTSE 100 | 18:35 | 5765.80 | -109.02 | -1.86% | DAX | 19:06 | 6633.11 | -233.35 | -3.40% | CAC40 | 19:06 | 3362.56 | -124.98 | -3.58% | Nikkei | 08:26 | 9637.63 | -60.96 | -0.63% | Shanghai | 09:46 | 2410.45 | -34.56 | -1.41% | Hang-Seng | 10:46 | 20806.25 | -459.06 | -2.16% | All Ords | 07:38 | 4295.50 | -58.70 | -1.35% | NZSE 50 | 06:46 | 3401.83 | 13.99 | 0.41% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1666.94 | -39.65 | -2.32% | Gold/Rand | 20:00 | 12763.26 | -144.17 | -1.12% | Gold/R kg | 20:00 | 410339 | -3553 | -0.86% | Silver | 19:59 | 32.5540 | -1.4510 | -4.27% | Platinum | 19:59 | 1603.15 | -58.35 | -3.51% | Palladium | 19:59 | 666.70 | -34.30 | -4.89% | R157 | 17:06 | 6.71 | .03 | 0.45% | R204 | 17:06 | 7.58 | .01 | 0.13% | Brent Crude | 19:56 | 122.55 | -1.53 | -1.23% | Rand / Dollar | 19:59 | 7.6567 | 0.1148 | 1.52% | Rand / Pound | 19:55 | 11.9953 | 0.0474 | 0.40% | Rand / Euro | 19:55 | 10.0402 | 0.0576 | 0.58% | Rand / NZD | 19:58 | 6.2107 | 0.0171 | 0.28% | Rand / AUD | 19:55 | 8.0710 | 0.0085 | 0.11% | Yen / Dollar | 19:59 | 80.6550 | -0.8570 | -1.05% | Euro / Dollar | 19:55 | 0.7622 | 0.0058 | 0.77% | Dollar / Euro | 19:59 | 1.3113 | -0.0101 | -0.77% | Pound / Dollar | 19:55 | 0.6363 | 0.0061 | 0.97% |
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The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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06/03/2012 | 87 | 267 | 66 | 420 | 280,646,722 | R15,125,479,596 | 106442 | 2189355 | 05/03/2012 | 169 | 189 | 81 | 439 | 195,533,091 | R10,001,326,627 | 77993 | 2234758 | 02/03/2012 | 163 | 183 | 70 | 416 | 295,751,073 | R12,536,138,390 | 96929 | 2363212 | 01/03/2012 | 179 | 166 | 74 | 419 | 271,385,725 | R13,010,101,703 | 103845 | 2663127 | 29/02/2012 | 184 | 168 | 86 | 438 | 354,539,089 | R17,174,701,962 | 117157 | 2328994 |
* Includes all listed instruments on the JSE
Index Summary Index Name | RP | Move | % Move | Top 40 | 29,612.31 | -624.47 | -2.07% | Industrial | 36,511.08 | -498.88 | -1.35% | Mid Cap | 46,651.82 | -535.67 | -1.14% | Small Cap | 34,934.84 | -202.22 | -0.58% | Resource 20 | 50,881.33 | -1371.20 | -2.62% | Industrial 25 | 30,621.49 | -455.20 | -1.46% | Financial 15 | 9,168.08 | -203.73 | -2.17% | Financial & Ind. 30 | 34,191.21 | -588.37 | -1.69% | All Share | 33,387.04 | -644.73 | -1.89% | Oil & Gas | 29,815.78 | -681.07 | -2.23% | Mining | 32,571.89 | -884.88 | -2.64% | Gold Mining | 2,547.64 | -58.67 | -2.25% | Platinum Mining | 60.61 | -1.81 | -2.90% | GENERAL MINING | 8,137.74 | -226.74 | -2.71% | Oil & Gas Producers | 16,031.39 | -366.20 | -2.23% | Basic Materials | 27,880.25 | -740.88 | -2.59% | Chemicals | 15,237.55 | -28.20 | -0.18% | Forestry & Paper | 13,673.20 | -248.95 | -1.79% | Industrial Metals | 31,750.53 | -887.20 | -2.72% | Industrials | 31,530.18 | -437.34 | -1.37% | General Industrials | 87,048.33 | -1590.55 | -1.79% | Consumer Goods | 31,410.46 | -466.01 | -1.46% | Automobiles & Parts | 4,929.73 | -13.58 | -0.27% | Household Goods | 173.12 | -3 | -1.90% | Health Care | 38,239.64 | -145.76 | -0.38% | Beverages | 105.10 | -1.35 | -1.27% |
| | Index Name | RP | Move | % Move | Food Producers | 58,336.91 | -329.60 | -0.56% | Personal Goods | 449.44 | -11.79 | -2.56% | Consumer Services | 61,748.91 | -1053.01 | -1.68% | General Retailers | 51,971.71 | -817.53 | -1.55% | Travel & Leisure | 3,689.23 | -16.93 | -0.46% | Media | 87.83 | -2.49 | -2.76% | Support Services | 2,475.56 | 63.87 | 2.65% | Telecommunications | 67,142.25 | -395.94 | -0.59% | Financials | 24,223.63 | -482.03 | -1.95% | Banks | 45,772.27 | -771.79 | -1.66% | Non-life Insurance | 40,008.58 | -1069.38 | -2.60% | Life Insurance | 19,119.92 | -632.75 | -3.20% | General Financial | 2,308.76 | -47.30 | -2.01% | Technology | 27,334.77 | 4.63 | 0.02% | SHARIAH TOP40 | 3,069.34 | -72 | -2.29% | FTSE/JSE SHARIAH ALL | 3,168.66 | -68 | -2.09% | COAL MINING | 27,763.64 | -631 | -2.22% | FTSE JSE Fledgling | 5,262.01 | -5 | -0.09% | FTSE/JSE Alt X | 1,333.53 | -12 | -0.91% | SA LISTED PROPERTY | 414.18 | | -0.90% | CAPPED PROPERTY | 333.51 | | -1.11% | RESOURCE | 28,129.46 | -745 | -2.58% | DIVIDEND PLUS | 194.23 | -3 | -1.76% | FTSE/JSE RAFI 40 | 6,989.80 | -142 | -1.99% | Capped Top 40 | 15,638.70 | -324 | -2.03% | Capped All Share | 16,894.20 | -324 | -1.88% | JSE TABACO | 4,804.62 | 2 | 0.03% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | DSY | DISCOVERY HOLDINGS LIMITE... | BUY | 02 Mar | LBH | LIBERTY HOLDINGS LTD ORD | HOLD | 02 Mar | KEH | KEATON ENERGY HLDGS LTD | HOLD | 01 Mar | HYP | HYPROP INVESTMENTS LIMITE... | HOLD | 01 Mar | FSR | FIRSTRAND LIMITED | BUY | 01 Mar |
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Results Expected** Expected | Company Name | Fin. Date | 07 Mar 2012 | ASPEN | December 2011 (Interim) | 07 Mar 2012 | ASPENPREF | December 2011 (Interim) | 07 Mar 2012 | KAP | December 2011 (Interim) | 07 Mar 2012 | MTN GROUP | December 2011 (Final) | 07 Mar 2012 | RMIH | December 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | PSG | 12-03-02 | 12-03-23 | 12-04-02 | R 0.5600 | SPURCORP | 12-03-01 | 12-03-15 | 12-03-26 | R 0.4000 | LIB-HOLD | 12-03-01 | 12-03-15 | 12-03-26 | R 0.7700 | CAPITEC | 12-03-01 | 12-03-15 | 12-03-26 | R 3.0000 | BOWCALF | 12-03-01 | 12-03-15 | 12-03-26 | R 0.1600 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | HUDACO | 12-01-26 | 12-03-02 | 12-03-12 | R 3.1000 | GFIELDS | 12-02-17 | 12-03-02 | 12-03-12 | R 2.3000 | ANGLD | 12-02-15 | 12-03-02 | 12-03-16 | R 2.0000 | DISTELL | 12-02-15 | 12-03-02 | 12-03-12 | R 1.4300 | IMPLATS | 12-02-16 | 12-03-02 | 12-03-12 | R 1.3500 |
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Upcoming AGMs** Code | Company Name | Date | Status | EOH | EOH Holdings Ltd. | 06/03/2012 | Confirmed | QPG | Quantum Property Group Ltd. | 08/03/2012 | Confirmed |
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