Monday, 12 March 2012 - 20:00
Charts
Investors take profit on SAfrica's rand, bulls likely done
JOHANNESBURG (Reuters) - The rand steadied against the dollar on Monday, with investors preferring to take small profits within a two-week trading range pending fresh direction from data due later in the week.
Trading volumes were thin and charts suggest the rand has abandoned attempts at its 2012 high and will likely retreat further.
The local unit was at 7.5685 at 1627 GMT, nearly unchanged from its New York close on Friday. The rand started the year above 8 to the dollar and has gained 6 percent since then, strengthening to 7.4020/dollar at the end of February.
"I think the (dollar) bears are exhausted and we see a potential base developing on the USD/ZAR charts," said Kamran Sheikh, a technical analyst at Informa Global Markets.
Rallies usually follow once a base has developed and been confirmed, and may mean the market has consolidated and the trend is dying out.
The rand is likely to find initial support near 7.6400, which if broken would open up last week's 7.6800 low.
Low trading volumes are expected and the currency pair may languish in a range until mid-week when retail sales numbers are released.
"We haven't seen much corporate flow today. We're still stuck in that 7.50/60 area and without some sort of direction, some in the market are just taking profit within that small range," a local currency dealer said
Worries around China's economy after the commodity-consuming nation reported its largest trade deficit in at least a decade may push the commodity-linked rand towards support.
Local trading activity is expected to pick up pace if the rand breaks through 7.68 support or 7.44 on the firmer side.
Yields on government debt reflected the lucklustre currency market with the 2015 bond unchanged from Friday's close while the 2026 issue dropped one basis point to 8.290 percent.
Data from the Johannesburg Securities Exchange showed offshore accounts had picked up 5.8 billion randin local bonds last week, but sold 1.3 billion rand in shares.
Mon, 12 Mar 2012
Top News
South African stocks edged lower on Monday, snapping three straight days of gains as worries about softer demand in commodity-consuming giant China hit resource firms such as Kumba Iron Ore. Full story
South African petrochemicals group Sasol on Monday reported a 81 percent rise in first-half profit, boosted by higher oil and product prices and a weaker rand and said it was on track to deliver higher earnings for the full year. Full story |
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Israeli war planes struck at the Gaza Strip and Palestinians fired more rockets against southern Israel on Monday in a fourth day of hostilities in which 23 Palestinians have been killed. Full storyThe massacre of 16 villagers by a U.S. soldier has triggered angry calls for an immediate American exit from Afghanistan as Washington tries to negotiate a long-term presence to keep the country from sliding into chaos again. Full storyDozens of civilians in Syria's flashpoint city of Homs were killed in cold blood, the government and opposition said on Monday, disputing responsibility for what both sides called a massacre during a visit from special envoy Kofi Annan. Full story |
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Markets | European equities edged
lower on Monday, with optimism on the completion of a Greek debt
swap quickly giving way to concerns about borrowing. . . Full story | | European equities edged
lower on Monday, with optimism on the completion of a Greek debt
swap quickly giving way to concerns about the. . . Full story | | Global stocks and the
dollar traded mixed on Monday, weighed down by
disappointing Chinese data ahead of a Federal Reserve meeting in
which policymakers. . . Full story | | Gold fell on Monday,
under pressure from a softer euro and from dwindling
expectations for the Federal Reserve to signal the need for. . . Full story |
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| The S&P 500 and Nasdaq
fell on Monday as economic data in China and a
Federal Reserve monetary policy statement due later this. . . Full story | | Britain's top share index
was a touch lower at midday Monday, led by miners and banks, as
renewed concerns on economic growth in. . . Full story | | European stocks reversed
early losses and turned slightly positive on Monday, reviving a
three-session rally as investors shrugged off grim Italian GDP
data and. . . Full story | | European stocks slightly
fell on Monday, halting a sharp three-day rally as last week's
strong U.S. jobs data dampens expectation of further stimulus
from. . . Full story |
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SA Business | South African mobile phone operator MTN Group on Monday accused rival Turkcell of using the threat of a U.S. lawsuit to. . . Full story | | Standard Chartered said it has expanded its securities services business into South Africa, offering back office management to overseas investors looking. . . Full story | | Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said its Moroccan unit has started functioning, giving it direct access to a. . . Full story | | South Africa's rand was largely flat against the dollar in early Monday trade but government bonds weakened, with investors opting for. . . Full story |
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| The Gulf of Guinea, a
stretch of West Africa's coast spanning more than a dozen
countries, is a growing source of oil, cocoa. . . Full story | | Prominent African
private equity firm Kingdom Zephyr is in talks with investors on
the future of its $490 million fund after the departure. . . Full story | | Global investors in search
of high-dividend equity plays are heading to emerging markets,
abandoning their view of these stocks as a predominantly
growth-based investment.. . . Full story | | Indonesia's
decision to shut the door on foreign control of its mines has
gone down badly with global miners but none are yet. . . Full story |
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Company News | Shareholders are advised of the following appointment to the Chemspec board with effect from 12 March 2012:
* Mr. Sipho Eric Sono (CA(SA)), as independent non-executive director and chairman of the audit and risk committee.. . . Full story | | According to Business Report, Old Mutual has fired the starting gun on an ambitious African expansion strategy, encouraged by the continent's robust economic growth, as the insurer posted a 17 percent jump in earnings on Friday. Old Mutual, a financial conglomerate. . . Full story |
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Company Results | Turnover for the interim period ended 31 December 2011 rose to R83.3 billion (R67.2 billion) and gross profit improved to R29.4. . . Full story | | Revenue for the interim period ended 31 December increased by 9% to R4.5 billion (2010: R4.1 billion). Gross profit jumped by. . . Full story | | Revenue increased to USD143.8 million (USD88.3 million). Gross profit soared to USD19.4 million (USD2.2 million). However, the operating loss widened to. . . Full story | | Revenue decreased to R216.3 million (R237.3 million). Gross profit decreased to R51 million (R70.5 million) and operating profit improved to R56.3. . . Full story |
World Markets (Spot Prices)
Name | Time | RP | Move | % Move | JSE Overall | 17:00 | 33901.72 | -24.48 | -0.07% | JSE Top 40 | 17:00 | 30067.80 | -32.81 | -0.11% | JSE Gold | 17:00 | 2544.39 | 2.44 | 0.10% | JSE Financial | 17:00 | 24585.69 | -69.06 | -0.28% | JSE Industrial | 17:00 | 37395.89 | 135.13 | 0.36% | JSE Indust 25 | 17:00 | 31390.49 | 127.36 | 0.41% | JSE Resource | 17:00 | 51080.99 | -286.55 | -0.56% | DJ Futures | 19:26 | 12876.00 | 13.00 | 0.10% | DJ Ind | 19:41 | 12964.74 | 42.72 | 0.33% | SP 500 | 19:56 | 1371.46 | 0.59 | 0.04% | Nasdaq | 19:56 | 2985.36 | -2.98 | -0.10% | FTSE 100 | 18:35 | 5892.75 | 5.26 | 0.09% | DAX | 19:06 | 6901.35 | 21.14 | 0.31% | CAC40 | 19:06 | 3490.06 | 2.58 | 0.07% | Nikkei | 08:26 | 9889.86 | -39.88 | -0.40% | Shanghai | 09:26 | 2434.86 | -4.60 | -0.19% | Hang-Seng | 10:56 | 21134.18 | 48.18 | 0.23% | All Ords | 07:37 | 4288.20 | -12.30 | -0.29% | NZSE 50 | 06:46 | 3452.37 | 18.55 | 0.54% |
| | Name | Time | RP | Move | % Move | Gold | 19:59 | 1700.55 | -14.09 | -0.82% | Gold/Rand | 19:56 | 12842.74 | 82.20 | 0.64% | Gold/R kg | 19:56 | 412894 | 2643 | 0.64% | Silver | 19:59 | 33.5100 | -.7390 | -2.16% | Platinum | 19:59 | 1690.50 | 9.00 | 0.54% | Palladium | 19:59 | 697.70 | -6.50 | -0.92% | R157 | 11:02 | 6.67 | .01 | 0.15% | R204 | 17:06 | 7.53 | -.01 | -0.07% | Brent Crude | 19:56 | 125.10 | -.70 | -0.56% | Rand / Dollar | 19:59 | 7.5520 | -0.0094 | -0.12% | Rand / Pound | 19:55 | 11.7725 | -0.0523 | -0.44% | Rand / Euro | 19:55 | 9.9289 | 0.0070 | 0.07% | Rand / NZD | 11/03 | 6.1939 | 0.0350 | 0.00% | Rand / AUD | 19:55 | 7.9298 | -0.0687 | -0.86% | Yen / Dollar | 19:59 | 82.2300 | -0.2630 | -0.32% | Euro / Dollar | 19:55 | 0.7600 | -0.0023 | -0.30% | Dollar / Euro | 19:59 | 1.3147 | 0.0036 | 0.27% | Pound / Dollar | 19:55 | 0.6393 | 0.0014 | 0.22% |
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Click here for the Sharenet Spot Price page
The JSE Today
Trading Statistics
Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
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12/03/2012 | 183 | 139 | 96 | 418 | 293,286,117 | R13,620,773,576 | 83070 | 2325052 | 09/03/2012 | 209 | 120 | 89 | 418 | 223,412,715 | R10,721,735,604 | 81913 | 2268613 | 08/03/2012 | 224 | 119 | 83 | 426 | 271,402,811 | R16,743,014,100 | 96844 | 2348090 | 07/03/2012 | 188 | 146 | 79 | 413 | 226,621,928 | R12,621,970,487 | 95753 | 2228472 | 06/03/2012 | 87 | 267 | 66 | 420 | 280,646,722 | R15,125,479,596 | 106442 | 2189355 |
* Includes all listed instruments on the JSE
Index Summary Index Name | RP | Move | % Move | Top 40 | 30,067.80 | -32.81 | -0.11% | Industrial | 37,395.89 | 135.13 | 0.36% | Mid Cap | 47,374.55 | 53.60 | 0.11% | Small Cap | 35,496.49 | 29.13 | 0.08% | Resource 20 | 51,080.99 | -286.55 | -0.56% | Industrial 25 | 31,390.49 | 127.36 | 0.41% | Financial 15 | 9,315.65 | -41.83 | -0.45% | Financial & Ind. 30 | 34,969.57 | 61.87 | 0.18% | All Share | 33,901.72 | -24.48 | -0.07% | Oil & Gas | 29,121.08 | -600.86 | -2.02% | Mining | 32,864.82 | -85.77 | -0.26% | Gold Mining | 2,544.39 | 2.44 | 0.10% | Platinum Mining | 60.17 | -.33 | -0.55% | GENERAL MINING | 8,260.41 | -25.43 | -0.31% | Oil & Gas Producers | 15,657.87 | -323.07 | -2.02% | Basic Materials | 28,105.51 | -116.72 | -0.41% | Chemicals | 15,237.49 | -1.26 | -0.01% | Forestry & Paper | 13,957.77 | -293.81 | -2.06% | Industrial Metals | 31,257.42 | -745.69 | -2.33% | Industrials | 32,266.88 | 70.19 | 0.22% | General Industrials | 89,365.08 | 116.61 | 0.13% | Consumer Goods | 32,178.33 | 412.64 | 1.30% | Automobiles & Parts | 5,174.29 | -22.64 | -0.44% | Household Goods | 182.85 | 3 | 1.53% | Health Care | 38,973.91 | -51.16 | -0.13% | Beverages | 105.77 | .76 | 0.72% |
| | Index Name | RP | Move | % Move | Food Producers | 59,432.04 | 373.20 | 0.63% | Personal Goods | 473.81 | 11.98 | 2.59% | Consumer Services | 62,666.64 | -462.15 | -0.73% | General Retailers | 52,908.28 | 59.63 | 0.11% | Travel & Leisure | 3,735.97 | -56.85 | -1.50% | Media | 88.76 | -1.24 | -1.38% | Support Services | 2,477.15 | -66.13 | -2.60% | Telecommunications | 70,596.41 | 539.55 | 0.77% | Financials | 24,585.69 | -69.06 | -0.28% | Banks | 46,545.90 | -99.70 | -0.21% | Non-life Insurance | 40,064.35 | 101.84 | 0.25% | Life Insurance | 19,630.14 | -102.59 | -0.52% | General Financial | 2,335.94 | -7.52 | -0.32% | Technology | 27,725.76 | 289.89 | 1.06% | SHARIAH TOP40 | 3,119.97 | -2 | -0.06% | FTSE/JSE SHARIAH ALL | 3,222.77 | -1 | -0.03% | COAL MINING | 27,486.33 | 10 | 0.04% | FTSE JSE Fledgling | 5,285.05 | 14 | 0.27% | FTSE/JSE Alt X | 1,270.94 | 33 | 2.67% | SA LISTED PROPERTY | 412.98 | | -0.38% | CAPPED PROPERTY | 334.86 | | -0.05% | RESOURCE | 28,240.15 | -151 | -0.53% | DIVIDEND PLUS | 196.67 | -0 | -0.10% | FTSE/JSE RAFI 40 | 7,107.00 | -14 | -0.20% | Capped Top 40 | 15,876.27 | -17 | -0.10% | Capped All Share | 17,152.79 | -12 | -0.07% | JSE TABACO | 4,857.78 | 40 | 0.84% |
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Click here for the Sharenet Index Summary page
Latest Consensus Changes** Code | Company Name | Status | Updated | VPF | VUNANI PROP INV FUND LTD | BUY | 08 Mar | REB | REBOSIS PROPERTY FUND LTD | BUY | 08 Mar | CPI | CAPITEC | HOLD | 08 Mar | VKE | VUKILE PROPERTY FUND LIMI... | BUY | 08 Mar | FFA | FORTRESS INCOME FUND LTD | BUY | 08 Mar |
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Results Expected** Expected | Company Name | Fin. Date | 13 Mar 2012 | CLOVER | December 2011 (Interim) | 13 Mar 2012 | CLOVERPREF | December 2011 (Interim) | 13 Mar 2012 | JSE | December 2011 (Final) | 14 Mar 2012 | AVENG | December 2011 (Interim) | 14 Mar 2012 | ELBGROUP | December 2011 (Interim) |
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Recent Dividends** Share Name | Dec-Date | LDT | Pay-Date | Amount | OLDMUTUAL | 12-03-09 | 12-04-13 | 12-06-07 | R 0.0350 | OLDMUTUAL | 12-03-09 | 12-04-13 | 12-06-07 | R 0.1800 | MPACT | 12-03-08 | 12-04-19 | 12-04-30 | R 0.4000 | STANBANK | 12-03-08 | 12-03-23 | 12-04-02 | R 2.8400 | CERAMIC | 12-03-08 | 12-03-23 | 12-04-02 | R 1.1000 |
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Ex Div** Share Name | Dec-Date | LDT | Pay-Date | Amount | KUMBA | 12-02-09 | 12-03-09 | 12-03-19 | R 22.5000 | DSY B PREF | 12-02-23 | 12-03-09 | 12-03-19 | R 2.8923 | MASSMART | 12-02-22 | 12-03-09 | 12-03-19 | R 2.5200 | AMPLATS | 12-02-13 | 12-03-09 | 12-03-19 | R 2.0000 | CAPEVIN | 12-02-17 | 12-03-09 | 12-03-19 | R 1.9840 |
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Upcoming AGMs** Code | Company Name | Date | Status |
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