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 The Sharenet Daily 
Tuesday, 10 September 2013 - 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)

Seed weekly - Financial Planning 101

I was recently asked by a client of mine if we had any pamphlet material outlining the basics of advice for people who have just started working.

I looked around and couldn’t find much that was satisfactory so I have decided to give a brief summary in financial planning 101. Please note that this is an initial guideline and is not meant to be an exhaustive all-encompassing view. If you do understand financial planning, please forward this to somebody who doesn’t.

The back bone of any financial plan and the foundation of financial wellbeing is a budget. If you spend more than you earn you will never be financially independent no matter how much you earn, I have seen people earning R 300 000 per month net with expenses of R 320 000 per month. A budget is the only instrument which can keep your expenses in check, most people underestimate their expenses.

Every person has three basic financial planning needs namely life cover, disability cover and savings.

Life Cover

There are two basic reasons why a person should have life cover, firstly to cover your debts and liabilities, and secondly to cover your future income stream for your dependents. If you have no dependents and no liabilities you don’t need life cover. Your life cover generally goes in a cycle increasing to a point where you have car debt, house debt and the maintenance of 2.5 kids and reducing as the debts reduce and the kids start becoming financially dependent.


Disability cover is often sold as a lump sum but income protection is probably the most neglected area of financial planning. No matter what your debt/dependent situation is, if you are earning an income you need to ensure that if you cannot work anymore that income will be covered.


When looking at savings, there are a number of aspects that need to be taken into account. Short term needs (holidays, large expenses such as car tyres etc.) Medium term savings (saving for a deposit on a house, kids tuition fees etc.) and Long Term savings needs (Retirement). Whilst the numbers may vary it is an indisputable fact that most South African’s cannot retire at anywhere near the lifestyle they had before retirement. Compound interest is an incredibly powerful force and most people who can retire comfortably can do so because they started saving very early in their working lives. It is important that you start early enough and that you save enough. It is pointless putting away R 150 per month starting at the age of 20 but not increasing that amount. I often get asked how much money is needed to retire. This is a very difficult as each person has different income needs, but if you want to retire at the age of 60 a general rule of thumb is that you will need investable capital of 25 times your annual net income needs.

A will is a very important document that will only be used once. If you have any assets you need to have a will. Whilst most people hate thinking about their death a Will is an integral part of any decent financial plan.

The most important thing about being financially dependent is to have a plan, this plan will include a realistic budget, enough life cover (not too much) the right income protection and a properly managed portfolio of short, medium and long term investments. Most people do not have the time or inclination to set up this plan so it is important to have a reputable trustworthy financial advisor to help you achieve your goals. Should you have any further questions, please don’t hesitate to contact me.

Kind regards,

Barry Hugo

021 914 4966

Tue, 10 Sep 2013
Top News
South African bullion producer Gold Fields said on Tuesday it was being investigated by the U.S. Securities and Exchange Commission over a $210 million black empowerment deal involving a senior member of the ruling party.  Full story

Revenue grew by 44% to R115.5 billion (R80.1 billion). Operating profit before capital items jumped by 41% to R11.3 billion (R8 billion). EBITDA improved 39% R11 billion (R7.9billion). Net attributable profit was up 29% to R7.3 billion (R5.7 billion). In addition, headline earnings per ordin  Full story
Syria accepted a Russian proposal on Tuesday to give up chemical weapons and win a reprieve from U.S. military strikes, while its jets returned to the sky to bomb rebel positions in Damascus for the first time since the West threatened force.  Full story
Syria accepted a Russian proposal on Tuesday to give up chemical weapons and win a reprieve from U.S. military strikes, while its jets returned to the sky to bomb rebel positions in Damascus for the first time since the West threatened force.  Full story
Top Obama administration officials urged Congress on Tuesday to keep the pressure on Syria over its chemical weapons arsenal while the United States explores a diplomatic alternative to military strikes.  Full story
U.S. stocks rose on Tuesday, with the S&P 500 on track for a sixth straight session of gains as an alternative solution emerged. . .  Full story
U.S. stocks climbed for a sixth straight session on Tuesday as the dollar and global equities rallied on more upbeat economic data from. . .  Full story
European shares rallied to a 3-1/2 month high on Tuesday as equities globally rose on signs that a U.S. strike on Syria, with. . .  Full story
Britain's main share index rose to its highest level in nearly a month on Tuesday, bolstered by the outlines of an international compromise. . .  Full story

European shares rallied to retest their August high on Tuesday as equities globally were lifted by signs that a U.S. strike on Syria,. . .  Full story
Gold fell 2 percent on Tuesday after Syria accepted a Russian proposal to give up chemical weapons to avert a U.S. strike.. . .  Full story
Europe's financial companies are expected to lead a rise in stock market dividends over the next four years and insurers are best placed. . .  Full story
U.S. stocks rose at the open on Tuesday, putting the S&P 500 on track for a sixth day of gains, following further upbeat. . .  Full story
SA Business
South Africa's Eskom said on Tuesday power will remain tight during the southern hemisphere summer period as it increases maintenance work. . .  Full story
South Africa's top construction firm, Aveng Ltd, reported a drop in full-year profit on Tuesday, hit by weakness in its domestic. . .  Full story
Growth in spending in South Africa slowed to an annualised 2.7 percent in the second quarter of 2013 from 3.5 percent. . .  Full story
South Africa's current account deficit widened more than expected to 6.5 percent of GDP in the second quarter of 2013 from. . .  Full story

South African bullion producer Gold Fields said on Tuesday it was being investigated by the U.S. Securities and Exchange Commission over a $210 million. . .  Full story
South Africa's Kagiso Media said on Tuesday its top shareholder had offered to buy out the remaining stake in the company. . .  Full story
South African furniture retailer Steinhoff International on Tuesday reported a 25 percent increase in earnings, bolstered by rand weakness against the. . .  Full story
South Africa's FirstRand, Africa's second-largest lender by stock market value, said it has a $1 billion kitty to pursue an expansion. . .  Full story

South Africa's Treasury sold a total 2.35 billion rand of its 2023, 2031 and 2037 government bonds on Tuesday.. . .  Full story
South Africa's rand weakened against the dollar early on Tuesday as investors fretted about upcoming current account data for the second. . .  Full story
South Africa sold $2 billion of 12-year paper at a 5.875 percent coupon rate, the Treasury said in a statement on. . .  Full story
South Africa's FirstRand posted a 20 percent jump in full-year earnings on Tuesday, propelled by strong growth in loan income and. . .  Full story
Company News
Kagiso shareholders were advised that, following the release of this firm intention announcement, the cautionary announcement dated 10 June 2013 (and. . .  Full story
Kagiso shareholders were referred to the cautionary announcement released on SENS on 10 June 2013 ("cautionary announcement") and are advised that. . .  Full story
At the annual general meeting of Datatec, held at 14h00 on 10 September 2013, votes were registered for 85% of the. . .  Full story
Keaton Energy announces the following board and committee changes: *David Salter's short-term assignment as executive chairman has ended and he has returned. . .  Full story

Shareholders were referred to the circular dated 2 August 2013 (and using the terms defined therein unless otherwise stated) relating to,. . .  Full story
Shareholders were advised that Mr Norman Axten will be retiring as independent non-executive chairman and director of the group and its. . .  Full story
References in this announcement to R are to South African rand and references to U.S. dollars and are to United States. . .  Full story
PPC will be attending the Exane BNP Paribas's Cement Majors of the Future Investor Conference in London. A presentation, which will. . .  Full story
Company Results
Revenue increased by 11.2% to R9.2 billion (R8.3 billion). Gross profit was up 9.2% to R4.1 billion (R3.8 billion). Operating profit. . .  Full story
Revenue for the year increased to R181.3 billion (2012:169.4 billion). Operating profit grew to R40.6 billion (2012: R36.8 billion). Earnings attributable. . .  Full story
Revenue increased to R51.7 billion (R40.9 billion). Gross earnings declined to R3.47 billion (R3.49 billion). Net operating earnings rose to R656. . .  Full story
Operating loss fell to GBP3.0 million (loss of GBP4.3 million). Loss attributable to equity owners narrowed to GBP2.9 million (loss of. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0043545.83776.211.81%
JSE Top 4017:0039087.02780.142.04%
JSE Gold17:001280.28-30.00-2.29%
JSE Financial17:0030989.75374.381.22%
JSE Industrial17:0056555.451153.032.08%
JSE Indust 2517:0049595.081112.742.30%
JSE Resource17:0051428.20917.551.82%
DJ Futures19:1815130.0094.000.63%
DJ Ind19:5215169.90106.780.71%
SP 50019:521682.4310.720.64%
FTSE 10017:356583.9953.250.82%
All Ords08:475198.9019.500.38%
NZSE 5009:084627.7613.740.30%
NameTimeRPMove% Move
Gold $19:591365.30-21.75-1.57%
Gold R00:0013797.56-136.56-0.98%
Gold R/kg19:52438910-5888-1.32%
Silver $19:5923.0050-.6920-2.92%
Platinum $19:591474.00-4.50-0.30%
Palladium $19:59693.908.301.21%
Brent Crude19:48110.87-5.25-4.52%
Rand / Dollar19:5910.00430.05470.55%
Rand / Pound19:5515.71380.12000.77%
Rand / Euro19:5513.27260.07650.58%
Rand / NZD00:007.9804-0.0358-0.45%
Rand / AUD19:559.31500.12281.34%
Yen / Dollar19:59100.29300.67500.68%
Euro / Dollar00:000.7545-0.0047-0.62%
Dollar / Euro19:591.32710.00170.13%
Pound / Dollar19:550.6351-0.0019-0.30%

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The JSE Today

Trading Statistics
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 DIAMONDCP  1142426.67.%16600
2 KGMEDIA  273540017.13.%318746
3 FORBES  3504916.28.%7950
4 MMG  6207012.73.%29533
5 ASTRAPAK  6296812.12.%17849
6 DAWN  9208510.18.%46165
7 GOLDONE  215157.50.%3700
8 METMAR  149107.19.%323472
9 LITHA  306165.52.%101267
10 STEINHOFF  31831615.33.%13024933
11 BELL  26001265.09.%3322
12 FONEWORX  235104.44.%103000
13 PETMIN  19884.21.%323525
14 LIFEHC  36501464.17.%3588853
15 ARM   202277844.03.%327744
16 WOOLIES  74752753.82.%6337133
17 MTN  183666093.43.%7905204
18 ARCMITTAL  33501103.40.%731131
19 IMPLATS  125704063.34.%3504035
20 WESCOAL  16053.23.%44400

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Major Moves Down
SharenameSaleMove% MoveVolume
1 REX-TRUE  1150-450-28.13.%150
2 REXTRU-N  904-196-17.82.%500
3 ROCKWELL  220-30-12.00.%45000
4 TORRE  170-20-10.53.%86321
5 BRIMSTON  1210-100-7.63.%450
6 ALERT  138-11-7.38.%513
7 DRDGOLD  577-39-6.33.%649319
8 MIXTEL  573-35-5.76.%903908
9 HARMONY  3890-175-4.31.%1515987
10 TIMES  1954-86-4.22.%199
11 CULLINAN  206-9-4.19.%33600
12 BLACKSTAR  1150-50-4.17.%260850
13 BRIMST-N  1311-44-3.25.%103442
14 HOSP-B  460-15-3.16.%992
15 ANGGOLD  13753-427-3.01.%1624408
16 AVENG  2840-85-2.91.%1138937
17 BCX  515-15-2.83.%486
18 WITSGOLD  875-25-2.78.%82184
19 TRADEH  925-25-2.63.%1106
20 CONDUIT  156-4-2.50.%413648

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New Highs
SharenameSaleHighMove% MoveVolume
1 KGMEDIA  2735273540017.13.%318746
2 STEINHOFF  318331941615.33.%13024933
3 NASPERSN  902509025024212.76.%1499369
4 MRHLD  28802927652.31.%1579861
5 MONDIPLCP  17174173933812.27.%911527
6 MONDILTDP  17100174103001.79.%847128
7 ASPEN  24405244054041.68.%986044
8 AFRIMAT  10701075151.42.%31106
9 ITLTILE  670705-16-2.33.%1686

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New Lows
SharenameSaleLowMove% MoveVolume
1 REX-TRUE  11501150-450-28.13.%150
2 REXTRU-N  904904-196-17.82.%500
3 DIGICOR  1361300.239798

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Index Summary
Index NameRPMove% Move
Top 4039,087.02780.142.04%
Mid Cap56,360.56460.130.82%
Small Cap46,688.6010.930.02%
Resource 2051,428.20917.551.82%
Industrial 2549,595.081112.742.30%
Financial 1511,722.62161.041.39%
Financial & Ind. 3052,433.331099.062.14%
All Share43,545.83776.211.81%
Oil & Gas 36,929.19-79.45-0.21%
Mining 31,295.56652.332.13%
Gold Mining1,280.28-30.00-2.29%
Platinum Mining51.011.152.31%
GENERAL MINING8,994.87232.392.65%
Oil & Gas Producers 19,856.14-42.72-0.21%
Basic Materials 27,698.62564.952.08%
Chemicals 22,327.3757.860.26%
Forestry & Paper 27,685.62593.352.19%
Industrial Metals 24,694.23363.781.50%
Industrials 42,197.83195.880.47%
General Industrials 125.55.920.74%
Consumer Goods 53,050.331216.732.35%
Automobiles & Parts 7,472.7138.490.52%
Household Goods216.35115.33%
Health Care 71,375.971408.452.01%
Beverages 170.415.253.18%
Index NameRPMove% Move
Food Producers 68,919.12864.981.27%
Personal Goods 1,002.2616.881.71%
Consumer Services 9,795.59207.612.17%
General Retailers 61,508.431144.261.90%
Travel & Leisure 5,552.36-39.30-0.70%
Media 197.275.332.78%
Support Services 2,589.044.340.17%
Telecommunications 8,753.23256.543.02%
Financials 30,989.75374.381.22%
Banks 52,360.14697.171.35%
Non-life Insurance 48,078.73352.200.74%
Life Insurance 29,823.11549.781.88%
General Financial 2,876.8323.600.83%
Technology 43,667.63-116.28-0.27%
SHARIAH TOP40 3,738.81762.07%
FTSE/JSE SHARIAH ALL3,838.93701.86%
COAL MINING21,268.083651.75%
FTSE JSE Fledgling 5,773.31210.36%
FTSE/JSE Alt X 1,027.69-8-0.76%
RESOURCE 28,131.514761.72%
DIVIDEND PLUS208.0621.14%
FTSE/JSE RAFI 408,640.601481.74%
Capped Top 4020,653.533991.97%
Capped All Share22,038.563881.79%
JSE TABACO 6,695.80640.96%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
11/09/2013ASPENJune 2013 (Final)
11/09/2013ASPENPREFJune 2013 (Final)
11/09/2013EOHJuly 2013 (Final)
11/09/2013MUSTEKJune 2013 (Final)
11/09/2013RMBHJune 2013 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
A-V-I09/09/1311/10/1321/10/13ZAR 1.7000
SASOL09/09/1304/10/1314/10/13ZAR 13.3000
COMPCLEAR06/09/1318/10/1328/10/13ZAR 0.3000
PINNACLE05/09/1308/11/1318/11/13ZAR 0.4100
EQSTRA04/09/1319/09/1330/09/13ZAR 0.3600
Ex Div**
Share NameDec-DateLDTPay-DateAmount
ABSABANK-P30/07/1306/09/1316/09/13ZAR 29.9945
NEDBANK06/08/1306/09/1316/09/13ZAR 3.9000
B-AFRICA30/07/1306/09/1316/09/13ZAR 3.5000
EXXARO22/08/1306/09/1316/09/13ZAR 2.3500
STANBANK15/08/1306/09/1316/09/13ZAR 2.3300

Upcoming AGMs**
CodeCompany NameDateStatus
DTCDatatec Ltd.10/09/2013Confirmed
FMCForbes - Manhattan Coal Corp11/09/2013Confirmed
AFPAlexander Forbes Preference Share Invest...13/09/2013Confirmed
KEHKeaton Energy Holdings Ltd.17/09/2013Confirmed

Stock Exchange News Service
10/09/201317:50GROWTHPOINT PROPERTIES LIMITED - Notice of general meeting, updated timetable, u...
10/09/201317:45LIBERTY HOLDINGS LIMITED - Dealings in securities by the Chief Executive Officer...
10/09/201317:00AFRICAN RAINBOW MINERALS LIMITED - Dealings in ARM securities
10/09/201317:00NETCARE LIMITED - Dealings in securities by director of major subsidiary
10/09/201316:38KAGISO MEDIA LIMITED - Firm intention announcement
10/09/201316:30BLUE LABEL TELECOMS LIMITED - Acceptance of allocated shares in terms of Blue La...
10/09/201316:30WOOLWORTHS HOLDINGS LIMITED - Dealing in securities by a director
10/09/201316:30DATATEC LIMITED - Report on proceedings at annual general meeting
10/09/201316:15GROUP FIVE LIMITED - Dealing in securities by director of a major subsidiary
10/09/201316:10WILDERNESS HOLDINGS LIMITED - Trading statement
10/09/201316:09BAYPORT SECURITISATION (RF) LTD - Finalisation of the Standard & Poors credit ra...
10/09/201316:07BAYPORT SECURITISATION (RF) LTD - Supplement to the Programme Memorandum and Ame...
10/09/201316:00REINET INVESTMENTS S.C.A - Reinet Annual General Meeting of shareholders approve...
10/09/201315:38INGENUITY PROPERTY INVESTMENTS LTD - Conclusion of the purchase of properties
10/09/201315:35JSE LIMITED - GENGeneral-Johannesburg Stock ExchangeAmendments to the JSE Listin...
10/09/201315:01ADCORP HOLDINGS LIMITED - Disposal of securities
10/09/201314:10STEINHOFF INTERNATIONAL HOLDINGS LD - Audited results for the year ended 30 June...
10/09/201314:05KEATON ENERGY HOLDINGS LIMITED - Changes to the board and board committees
10/09/201313:50INVESTEC BANK LIMITED - Dividend announcement - NPNIHB
10/09/201313:28STANDARD BANK OF SOUTH AFRICA LD - SCIB: The Standard Bank Of South Africa Limit...
10/09/201313:27STANDARD BANK OF SOUTH AFRICA LD - CANCELLATION OF S336189 SCIB: The Standard Ba...
10/09/201313:22CITY LODGE HOTELS LIMITED - Director's dealings in securities
10/09/201313:15GOLD FIELDS LIMITED - Gold Fields acknowledges SEC investigation
10/09/201313:08ARB HOLDINGS LIMITED - Dealing in securities by a director of a major subsidiary
10/09/201313:05ARB HOLDINGS LIMITED - Dealing in securities by a director of a major subsidiary
10/09/201313:00OMNIA HOLDINGS LIMITED - Directors Dealings In Securities
10/09/201312:38INVESTEC BANK LIMITED - New Listing VKEIVA- Amendment to Strike Price
10/09/201312:37Investec Bank Limited - Cancellation Of S336127 New Listing- Vkeiva
10/09/201312:30PETMIN LIMITED - Disclosure of beneficial interest in securities
10/09/201312:30INVESTEC BANK LIMITED - Dividend Announcement CFRIHB
10/09/201311:54ANGLO AMERICAN PLC - Anglo American Share Incentive Plan SIP
10/09/201311:05NEDBANK LIMITED - Dividend Distribution - CFRNIE
10/09/201311:00MUSTEK LIMITED - Director dealing in securities
10/09/201310:39TAWANA RESOURCES NL - Notice of ceasing to be a substantial holder
10/09/201310:35RCS INVESTMENT HOLDINGS (PTY) LTD - Interest Rate Reset - RCSC12
10/09/201310:25STANDARD BANK OF SOUTH AFRICA LD - SCIB: The Standard Bank Of South Africa Limit...
10/09/201309:06COMAIR LIMITED - Audited Group results and cash dividend for the year ended 30 J...
10/09/201309:00SASFIN HOLDINGS LIMITED - Changes to the board
10/09/201309:00CENTRAL RAND GOLD LIMITED - Finalisation Announcement in Respect of the Transfer...
10/09/201309:00MACQUARIE SECURITIES SA (PTY) LTD - New Financial Instrument Listing: MAQ039
10/09/201308:59SASFIN HOLDINGS LIMITED - CANCELLATION OF S336179 Changes to the board
10/09/201308:29MIX TELEMATICS LIMITED - MiX Telematics announces financial results for the firs...
10/09/201308:00PPC LIMITED - Presentation to Investors
10/09/201308:00AFRICAN EAGLE RESOURCES PLC - Interim Results for the Six Months Ended 30 June 2...
10/09/201308:00FIRSTRAND LIMITED - Audited results and cash dividend declaration for the year e...
10/09/201308:00SASFIN HOLDINGS LIMITED - Changes to the board
10/09/201307:30AVI LIMITED - Appointment of executive director
10/09/201307:05BRITISH AMERICAN TOBACCO PLC - Transaction in own shares
10/09/201307:05AVENG LIMITED - Audited Group results for the 12 months ended 30 June 2013

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