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 The Sharenet Daily 
Tuesday, 26 November 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 - The Year That Was

As we approach the end of 2013, it has proven to be a very good year for investors around the world.

This was, however, not necessarily apparent at the start of the year, especially if one considered the prevailing news headlines of the day. We have looked back at some of the major financial news items through the year.

Towards the end of 2012, the global financial markets were fixated with the so called Fiscal Cliff. This was the end of previously enacted US tax laws, which ended in December 2012 and would have had an estimated $ 600bn impact on the US economy. A last minute resolution was passed that saw some modification of benefits. The US Senate passes the American Taxpayer Relief Act of 2012 as partial resolution to avert the ‘fiscal cliff’.

In January the newly elected Japanese Prime Minister, Shinzo Abe, announced a campaign of additional fiscal stimulus. This followed two decades of lacklustre growth and deflation since the early 1990’s. The mere announcement of the large step up in new monetary creation had the desired effect of weakening the yen against other currencies and boosting share prices on the Japanese stock market.

In February there was focus again on US budget cuts from March, known as budget sequestration and the possible impact on the economy.

In March it was noted that the both the announcement and the tone from the US Federal Reserve kept the expansionary monetary policy in place with the target federal funds rate at 0.25% and the open ended $ 85bn per month asset purchase program.

Also in March, at the opening of the National People’s Congress, Chinese Premier, Wen Jiabao, announced that the government had set a new target growth rate of 7.5% per annum. This was the most conservative growth rate from this country since 2004. However, even at this level China continues to grow and for the 3rd quarter announced annual GDP growth of 7.8%.

Quarter 1 saw GDP in the US rise to 2.8% annualised, led by consumer spending. At the same time the economic growth outlook for Eurozone countries remained very weak. This level of growth has remained in place for quarter 3.

In May, the European Central Bank reduced its main policy rate by 0.25% and said that it was committed to keep policy accommodative “for as long as needed”, while the US Federal Reserve hinted in its minutes that tapering of its enormous asset purchases (read printing to buy its own bonds), may start to commence mid 2013. This had an immediate negative impact on global markets as the US 10 year bond yield moved up from around 1.95% to 2.97% in September.

As a consequence of the “tapering talk”, June saw the start of global currencies declining relative to the US dollar. The “risker” currencies were hardest hit, including the rand, but all emerging market currencies and also members of the G10 like the Australian dollar, Norwegian Krone, Swedish Krona and Canadian dollar, fell relative to the US dollar.

The US treasury reached their ceiling on borrowings in September, and following disagreement as to the terms of raising the debt limit, the US Government went into a partial shutdown on 1 October. An act was passed on 16 October agreeing to fund the government to mid-January 2014 and suspending the debt ceiling to 7 February 2014. Ultimately the problem is merely postponed.

Against this backdrop of mixed economic news, the stock markets have been on a tear in 2013. So far as we near the end of November, the Dow is up 22.6%, the S&P500 up 26% - both at new highs - and the technology laden Nasdaq up 32%.

The MSCI World Index is up 21.3%, while the Nikkei 225 index is up 49% in yen terms and 27% in US dollar terms. This follows 2012, where unprecedented central bank monetary stimulus saw the biggest rise in prices of global shares since 2009. In 2012 the MSCI All Country World index rose by 16.9%.

Above is the chart of the MSCI World Index. While no one knows exactly where global equity markets will end in 2014, what we do know is that a preponderance of negative news is no hindrance for prices.

Kind regards,

Ian de Lange

021 914 4966

Tue, 26 Nov 2013
Top News
Local markets The JSE All Share closed 1.27% weaker on Tuesday with losses across all major sectors.  Full story

South African stocks slid more than 1 percent on Tuesday as Naspers tumbled after the high-flying internet firm said spending would likely crimp its earnings this year. Sentiment was also bruised after data showed Africa's largest economy grew at its slowest pace since a 2009 reces  Full story
Iran's nuclear negotiators returned home as heroes on Sunday, greeted by jubilant supporters after securing a deal with world powers over the country's disputed atomic programme.  Full story
Thousands of protesters surrounded Thailand's Interior Ministry and forced the evacuation of four others on Tuesday, intensifying their campaign to bring down the government of Prime Minister Yingluck Shinawatra.  Full story
Afghanistan's President Hamid Karzai has refused to sign a security deal with the United States, the White House said, opening up the prospect of a complete withdrawal of U.S. troops from the strife-torn nation next year.  Full story
U.S. stocks inched higher on Tuesday during a holiday-shortened trading week, but investors remained cautious about placing new bets after the market's rapid rally. . .  Full story
Britain's benchmark equity index fell on Tuesday, pulled down by major drinks stocks such as SAB Miller and Diageo on signs of slowing. . .  Full story
World share markets remained under pressure and the dollar slipped on Tuesday as oil prices climbed amid doubts over the real impact of. . .  Full story
European stocks dipped on Tuesday, as corporate profit warnings and lower-than-expected U.S. consumer confidence data kept benchmark indexes in ranges that were set earlier. . .  Full story

Gold fell back from a one-week high on Tuesday and remained vulnerable to further declines due to uncertainty over the outlook for the. . .  Full story
U.S. stocks opened little changed on Tuesday as investors looked to upcoming economic data to see whether a recent equity rally has been. . .  Full story
Britain's benchmark equity index fell on Tuesday, pulled down by major drink stocks such as SAB Miller and Diageo on signs of slowing. . .  Full story
Britain's top share index was edged lower on Tuesday, hit by falling consumer staples on concern over demand for beverages, although enthusiasm for airline. . .  Full story
SA Business
South Africa's Vodacom Group will pay 2.5 billion rand in cash to acquire an additional 17 percent in its Tanzania unit, increasing exposure to one of its few businesses outside its. . .  Full story
South Africa's economy grew in the third quarter at its slowest pace since a 2009 recession, dragged down by a contraction in manufacturing after weeks of strikes in the automotive sector.. . .  Full story
South Africa's rand was steady against the dollar on Tuesday and is likely to take its direction from third quarter economic growth data due later in the day.. . .  Full story

South African e-commerce and media firm Naspers has $1.5 billion in offshore cash resources available for acquisitions, it said on Tuesday.. . .  Full story
Oil-rich African countries will benefit from robust economic growth but weaker crude prices could send budget deficits higher next year, a Reuters poll showed. . .  Full story
Pan-African lender Ecobank has sued a top executive who left the company this month, naming him in a civil complaint in Togo as. . .  Full story
South African e-commerce and media group Naspers sees lower full-year earnings after it plans to increase investment into Internet platforms and. . .  Full story

The South African Reserve Bank's monthly leading business cycle indicator fell by 0.3 percent month-on-month in September, partly due to a decline in the number of residential building plans passed, the. . .  Full story
South Africa is expected to launch its debut Islamic bond issue during the first quarter of 2014 as it seeks to diversify its financing sources, the chief executive of Al Baraka. . .  Full story
Wal-Mart Stores Inc has named company veteran Doug McMillon to be its next chief executive, in a bet that his experience running its international unit will bolster growth at the retailer, the world's largest.. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0043988.14-564.37-1.27%
JSE Top 4017:0039194.33-573.65-1.44%
JSE Gold16:501132.49-14.04-1.22%
JSE Financial17:0032095.69-499.96-1.53%
JSE Industrial17:0058474.32-727.55-1.23%
JSE Indust 2517:0051166.36-682.93-1.32%
JSE Resource17:0048830.83-568.68-1.15%
DJ Futures18:5616070.0012.000.07%
DJ Ind20:0016095.3422.800.14%
SP 50020:001806.313.830.21%
FTSE 10018:356636.22-58.40-0.87%
All Ords07:405350.604.500.08%
NZSE 5006:484790.75-23.13-0.48%
NameTimeRPMove% Move
Gold $19:591242.38-7.78-0.62%
Gold R20:0012572.89-45.19-0.36%
Gold R/kg20:004042185140.13%
Silver $19:5919.8630-.3150-1.56%
Platinum $19:591367.00-16.50-1.19%
Palladium $19:59714.50-3.50-0.49%
Brent Crude20:00110.85-.20-0.18%
Rand / Dollar19:5910.12000.02780.28%
Rand / Pound19:5516.37260.08840.54%
Rand / Euro19:5513.74040.08710.64%
Rand / NZD19:598.2835-0.0208-0.25%
Rand / AUD19:559.2427-0.0336-0.36%
Yen / Dollar19:59101.2620-0.2630-0.26%
Euro / Dollar19:580.7377-0.0019-0.26%
Dollar / Euro19:591.35550.00340.25%
Pound / Dollar19:550.6176-0.0008-0.13%

Click here for the Sharenet Spot Price page
The JSE Today

Trading Statistics
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 FAIRVEST  140107.69.%6126
2 HULAMIN  522285.41.%59164
3 NAMPAK  37251855.23.%6131177
4 MAS  1800895.20.%10286
5 FINBOND  314144.67.%1102371
6 GOLIATH  21994.29.%300
7 BLUETEL  900354.05.%903743
8 SAPPI  31991223.96.%2524507
9 WESCOAL  21873.32.%406876
10 WITSGOLD  850253.03.%149
11 MUSTEK  528152.91.%7613
12 ADVTECH  674192.90.%152449
13 TIMES  2025512.58.%91130
14 EOH  83002002.47.%175190
15 MEDCLIN  72321672.36.%2458331
16 CURRO  2084432.11.%18333
17 CML  82461702.11.%837574
18 RCL  1790341.94.%22250
19 ADAPTIT  43881.86.%155515
20 DIAMONDCP  11221.82.%12000

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Major Moves Down
SharenameSaleMove% MoveVolume
1 KAYDAV  110-30-21.43.%2500
2 TASTE  330-39-10.57.%13792
3 POYNTING  140-15-9.68.%92000
4 SIBANYE  1210-110-8.33.%2202301
5 BASREAD  777-63-7.50.%588765
6 ABLN  428-33-7.16.%8683394
7 ESORFRANK  118-9-7.09.%1769671
8 SPANJRD  420-30-6.67.%4810
9 ACCENT  103-7-6.36.%57878
10 MMG  961-59-5.78.%1305
11 METMAR  132-8-5.71.%2499
12 INTEWASTE  111-6-5.13.%20968
13 WBHO  15201-743-4.66.%198199
14 MASONITE  3000-141-4.49.%493
15 DIGICOR  150-7-4.46.%169000
16 FPT  736-34-4.42.%1147771
17 BELL  1958-90-4.39.%79374
18 NASPERSN  93193-4007-4.12.%1732939
19 BIDVEST  24702-1053-4.09.%1161108
20 AMECOR  250-10-3.85.%84

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New Highs
SharenameSaleHighMove% MoveVolume
1 NAMPAK  372538881855.23.%6131177
2 MPACT  27952815250.90.%740894
3 AFRIMAT  1364137090.66.%180778
4 OMNIA  20800215000.312020
5 BRAIT  51315450-44-0.85.%370187
6 PIKWIK  21802213-20-0.91.%97450
7 AUSTRO  106120-3-2.75.%1289210

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New Lows
SharenameSaleLowMove% MoveVolume
1 KUMBAIO  3856538351-935-2.37.%657276
2 ASCENDIS  10551000-22-2.04.%538785
3 MASSMART  1464714235-304-2.03.%706021
4 GLENCORE  49994967-75-1.48.%2576974
5 HARMONY  28822836-43-1.47.%1851510

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Index Summary
Index NameRPMove% Move
Top 4039,194.33-573.65-1.44%
Mid Cap59,001.67-181.04-0.31%
Small Cap49,568.39-340.25-0.68%
Resource 2048,830.83-568.68-1.15%
Industrial 2551,166.36-682.93-1.32%
Financial 1512,037.61-214.50-1.75%
Financial & Ind. 3053,912.76-857.40-1.57%
All Share43,988.14-564.37-1.27%
Oil & Gas 37,846.36-315.56-0.83%
Mining 29,156.45-360.98-1.22%
Gold Mining1,132.49-14.04-1.22%
Platinum Mining47.10-.49-1.03%
GENERAL MINING8,458.20-107.72-1.26%
Oil & Gas Producers 20,349.29-169.67-0.83%
Basic Materials 25,942.16-278.17-1.06%
Chemicals 23,364.37-146.97-0.63%
Forestry & Paper 27,437.90326.641.20%
Industrial Metals 21,711.43-460.04-2.07%
Industrials 42,654.54-651.06-1.50%
General Industrials 127.96-1.55-1.20%
Consumer Goods 55,042.18-428.11-0.77%
Automobiles & Parts 8,577.77124.551.47%
Household Goods271.41-4-1.36%
Health Care 74,208.99655.110.89%
Beverages 177.82-2.52-1.40%
Index NameRPMove% Move
Food Producers 68,800.90-812.93-1.17%
Personal Goods 1,015.34-2.80-0.28%
Consumer Services 10,127.12-295.49-2.84%
General Retailers 62,000.34-878.97-1.40%
Travel & Leisure 5,585.81-13.90-0.25%
Media 203.70-8.63-4.06%
Support Services 2,570.97-17.79-0.69%
Telecommunications 9,332.12-125.46-1.33%
Financials 32,095.69-499.96-1.53%
Banks 53,613.62-1138.17-2.08%
Non-life Insurance 48,
Life Insurance 31,174.40-508.18-1.60%
General Financial 3,130.372.930.09%
Technology 44,696.86206.280.46%
SHARIAH TOP40 3,657.53-44-1.19%
FTSE/JSE SHARIAH ALL3,798.28-38-0.98%
COAL MINING17,605.77-112-0.63%
FTSE JSE Fledgling 6,204.38-40-0.64%
FTSE/JSE Alt X 1,098.3060.53%
CAPPED PROPERTY 423.26-1.51%
RESOURCE 26,657.19-310-1.15%
DIVIDEND PLUS211.98-2-0.71%
FTSE/JSE RAFI 408,646.40-117-1.34%
Capped Top 4020,716.16-309-1.47%
Capped All Share22,275.53-286-1.27%
JSE TABACO 6,873.93150.21%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
27/11/2013ADCOCKSeptember 2013 (Final)
27/11/2013CROOKESSeptember 2013 (Interim)
27/11/2013KELLYSeptember 2013 (Final)
28/11/2013ANSYSAugust 2013 (Interim)
28/11/2013OANDODecember 2012 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
INVESTEC-P25/11/1329/11/1317/12/13ZAR 3.5512
PNR FOODS25/11/1324/01/1403/02/14ZAR 0.8600
PAN-AF22/11/1329/11/1320/12/13GBP 0.0080
AME22/11/1306/12/1317/12/13ZAR 1.0000
INVPREF21/11/1329/11/1317/12/13GBP 0.0752
Ex Div**
Share NameDec-DateLDTPay-DateAmount
BRAIT PREF29/10/1322/11/1302/12/13ZAR 4.4321
VODACOM11/11/1322/11/1302/12/13ZAR 3.9500
IVT PREF01/11/1322/11/1302/12/13ZAR 3.3967
STEINHOFF10/09/1322/11/1302/12/13ZAR 0.8000
REBOSIS06/11/1322/11/1302/12/13ZAR 0.4750

Upcoming AGMs**
CodeCompany NameDateStatus
DAWDistribution and Warehousing Network Ltd...26/11/2013Confirmed
DNPPDistribution and Warehousing Network Ltd...26/11/2013Confirmed
WHLWoolworths Holdings Ltd.26/11/2013Confirmed
WHLPWoolworths Holdings Ltd.26/11/2013Confirmed
SPGSuper Group Ltd.26/11/2013Confirmed

Stock Exchange News Service
26/11/201317:49SEPHAKU HOLDINGS LIMITED - Notification of share dealing by a director of Sephak...
26/11/201317:20BUSINESS CONNEXION GROUP LIMITED - Notice Of Disposal Of A Beneficial Interest I...
26/11/201317:15METROFILE HOLDINGS LIMITED - Directors dealings in securities
26/11/201317:00BK ONE LIMITED - Renewal of cautionary announcement
26/11/201316:39PINNACLE TECHNOLOGY HOLDINGS LTD - Section 45 financial assistance announcement
26/11/201316:22VODACOM GROUP LIMITED - Acquisition of a further 17.2% interest in Vodacom Tanza...
26/11/201316:10REUNERT LIMITED - Appointment of non-executive director to the Reunert board and...
26/11/201315:48ABSA BANK LIMITED - Interest Rate Reset-ACL116
26/11/201315:40ABSA BANK LIMITED - Interest Rate Reset-ACL152
26/11/201315:35SUPER GROUP LIMITED - Dealing in securities by a director
26/11/201315:30SUPER GROUP LIMITED - Results of Annual General Meeting
26/11/201315:20ABSA BANK LIMITED - Interest Rate Reset-ACL092
26/11/201315:15ABSA BANK LIMITED - Interest Rate Resets-Absa Bank Ltd
26/11/201314:59NAMPAK LIMITED - Dealings in securities by a director of a major subsidiary and ...
26/11/201314:50COUNTRY BIRD HOLDINGS LIMITED - Results of Annual General Meeting
26/11/201314:45NORTHAM PLATINUM LIMITED - Northam Accepts Memorandum From the National Union of...
26/11/201314:38LONMIN PLC - Notification of Transactions of Directors and Persons Discharging M...
26/11/201314:20INDWA INVESTMENTS LIMITED - Interest Rate Reset - IN04Q
26/11/201314:15MIRANDA MINERAL HOLDINGS LIMITED - Trading Update
26/11/201314:12REDEFINE PROPERTIES LIMITED - Results of the Accelerated Bookbuild Offering
26/11/201314:00WOOLWORTHS HOLDINGS LIMITED - Results of the annual general meeting
26/11/201313:50IVUZI INVESTMENTS LIMITED - Full Capital Redemption - IVA348
26/11/201313:45SENTULA MINING LIMITED - Update to the interim results for the six months period...
26/11/201313:45ABSA BANK LIMITED - Interest Rate Reset: ACL070
26/11/201313:35DISTRIB. AND WAREHOUSING NETWORK LD - Results of annual general meeting
26/11/201313:35ABSA BANK LIMITED - Interest Rate Reset-ACL137
26/11/201313:30ABSA BANK LIMITED - Interest Rate Reset -ACL204
26/11/201313:25THE SPAR GROUP LIMITED - Dealing in securities by The Spar Group Limited Employe...
26/11/201313:20ABSA BANK LIMITED - Interest Rate Resets
26/11/201313:15GROUP FIVE LIMITED - Dealing in securities by a director of a major subsidiary
26/11/201313:12WOOLWORTHS HOLDINGS LIMITED - Dealing in securities by directors
26/11/201313:05ABSA BANK LIMITED - Interest Rate Reset-ACL203
26/11/201313:00SABMILLER PLC - Notification of transactions of directors, persons discharging m...
26/11/201312:45DIGICORE HOLDINGS LIMITED - Dealing in securities by a director
26/11/201312:34AFRICAN BANK INVESTMENTS LIMITED - Disclosure of significant holding of ABIL ord...
26/11/201312:30SABMILLER PLC - Directors Dealings
26/11/201312:15IVUZI INVESTMENTS LIMITED - Annual Financial Statements
26/11/201312:12INGUZA INVESTMENTS (RF) LIMITED - iNguza-Annual Financial Statements
26/11/201312:10INDWA INVESTMENTS LIMITED - Indwa-Annual Financial Statements
26/11/201312:05RBA HOLDINGS LIMITED - Clayville Ext 28 - update on acquisition of properties
26/11/201311:08VUNANI LIMITED - Dealing in securities by an associate of a director of the comp...
26/11/201310:40METAIR INVESTMENTS LIMITED - Dealings in securities
26/11/201310:30SHOPRITE HOLDINGS LIMITED - Dealings in securities by director of main subsidiar...
26/11/201309:40NEW GOLD ISSUER LIMITED - NGPLT Listing of additional NewGold Platinum Debentur...
26/11/201309:30NEW GOLD ISSUER LIMITED - NGPLT Listing of additional NewGold Platinum Debentur...
26/11/201309:15PAN AFRICAN RESOURCES PLC - Conditional Amendment To The Terms Of The Manica Gol...
26/11/201309:10INVICTA HOLDINGS LIMITED - Directors dealing in securities
26/11/201308:51BRITISH AMERICAN TOBACCO PLC - Transaction in own shares
26/11/201308:00REDEFINE PROPERTIES LIMITED - Accelerated bookbuild offering of linked units
26/11/201307:15SOVEREIGN FOOD INVESTMENTS LIMITED - Sovereign facility tour and shareholder pre...
26/11/201307:05NASPERS LIMITED - The reviewed results of the Naspers group for the six months t...
26/11/201307:05BEIGE HOLDINGS LIMITED - Renewal of Cautionary Announcement
26/11/201307:05CHEMICAL SPECIALITIES LIMITED - Results of the rights offer
26/11/201307:05TRANSACTION CAPITAL LIMITED - Provisional summarised consolidated financial resu...
26/11/201307:05OMNIA HOLDINGS LIMITED - Unaudited Results For The Six Months Ended 30 September...

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