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Tuesday, 07 April 2015 - 20:00
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Seed Weekly - The Year to Date
The Year to Date
It is hard to believe that the first quarter of the year is already behind us, and what an interesting quarter it has been.
Local Asset Classes
Property continued to dominate the local markets, returning 13.7% so far in 2015. Over the past year property did 41.4%, outperforming local equities by 28.9%.
While the local equity market has delivered a decent 5.9% so far this year, we have seen a large dispersion in returns between the various sectors. The Financial sector was the best performing sector, returning 11.2%, which is almost double Industrials’ 5.6% YTD. Resources remained the most volatile asset class, currently down 0.2% for the year. We have seen massive swings in the returns of Resource counters. Resources were up 8.7% in February and down 8.5% in March.
Oil Price
So far in 2015 we’ve seen a barrel of Brent Crude drop to $46.15 by the middle of January. In the graph below you can see the dramatic fall in the oil price since the middle of 2014, where it had been consistently trading between $100 and $120 a barrel. We have since seen oil come back a bit and ended March 2015 at $55 per barrel. The decrease in headline inflation experienced locally, and worldwide, is a knock on effect from the low oil price.
It is hard to think that in 2008 during the financial crisis, but before the peak in the commodity cycle, we saw the price rocket to $145 a barrel. At that stage stories of “Peak Oil” abounded with 2008 year end price targets of $200 a barrel. From peak to trough, Brent Crude Oil’s price declined by 68%, so the most recent price fall has not been as severe.
Quantitative Easing in Europe
In January Mario Draghi (Head of the European Central Bank) committed €1.1 trillion towards their version of quantitative easing. He pledged to buy €60 billion worth of bonds starting March 2015 until September 2016. The aim is to get cash into circulation and revive inflation in the region. Hopefully this will be enough to kick-start Europe’s growth that has been stagnant. Fund managers predict that the search for yield will continue, which will continue to support equity markets. So far we have seen the Euro devalue versus the US dollar. This devaluation will make European goods cheaper to the rest of the world, which should help to stimulate exports and help to prop up the region’s economy.
All of these, and other, factors are filtered by the investment team and used in the process to make decisions that we expect will contribute over meaningful time periods.
Kind regards,
Gerbrandt Kruger
www.seedinvestments.co.za
info@seedinvestments.co.za
021 914 4966
Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2015-04-07T162116Z_1007950001_LYNXMPEB360OE_RTROPTP_3_OZABS-US-SAFRICA-MARKETS-STOCKS.JPG "Man speaks on a mobile phone as he walks past a MTN shop at a shopping mall south of Johannesburg") South African stocks ended higher on Tuesday, following in the footsteps of major overseas markets, with MTN among the top gainers as the West prepares to lift sanctions against Iran. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnews_images_sn%252F1376481030.jpg "5pm market wrap") Local markets
At the market close Tuesday, the JSE All Share had advanced 0.70% bouyed by strong demand for gold shares and resource stocks. Full story |
 Senator Rand Paul promised to be a different kind of Republican on Tuesday, launching a 2016 White House bid that he said would highlight the conservative principles of reduced government and spending as he vowed to break up "the Washington machine." Full story  Firefighters struggled to put out a blaze on a nuclear submarine as it underwent repairs at a shipyard in Russia's northern province of Arkhangelsk on Tuesday, Russian news agencies reported. Full story  Islamist militants attacked a Tunisian military checkpoint on Tuesday, killing four soldiers and wounding three others in a raid in a central region bordering Algeria. Full story |
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Markets |
Stock markets around the world
rose on Tuesday as investors moved into riskier assets for a
second straight day, though a rise in. . . Full story |
Gold edged lower on Tuesday as
the dollar recovered and global shares rose, but uncertainty
about the timing of a U.S. interest rate. . . Full story |
China stocks jumped more than
2 percent to fresh seven-year highs on Tuesday ahead of the
quarterly earnings season, as investors brushed aside. . . Full story |
Australian shares pared early
gains on Tuesday after investors were disappointed by the
Reserve Bank of Australia (RBA) keeping its cash rate. . . Full story | |||
Japan's Nikkei share average rose
to a near two-week high on Tuesday, helped by expectations that
the U.S. Federal Reserve may wait longer. . . Full story |
Asian stocks rose on Tuesday,
following a positive lead from Wall Street, while the dollar
held onto its gains after rebounding against the. . . Full story |
U.S. stocks rose on Monday
after a weaker-than-expected jobs report drove expectations that
the Federal Reserve will postpone its first interest rate
increase in. . . Full story |
Gold rose to a
seven-week high on Monday, climbing for the second straight
session after U.S. jobs rose at the slowest pace in. . . Full story | ||||
SA Business |
South Africa's power utility Eskom said on Tuesday it would cut 1,000 megawatts of electricity from 1400 GMT to 2000 GMT, citing a shortage of generation capacity.. . . Full story |
South Africa's rand weakened early on Tuesday, pulling back from a month-high as the U.S. dollar regained its footing following steep losses triggered by soft jobs numbers.. . . Full story | |||||
Daimler on Tuesday
said it would expand its cooperation with partner Nissan
to develop a mid-sized pickup truck for Mercedes-Benz,
as the German premium auto maker seeks to narrow the sales gap
with rival BMW.. . . Full story | Business activity in South Africa expanded at its fastest rate in five months in March as growth in new orders led to a rise in output for the first time since November, a survey showed on Tuesday.. . . Full story |
Company News |
In compliance with paragraph 3.59 of the Listings Requirements of JSE Limited, the board of directors of Poynting (the Board) hereby. . . Full story |
Shareholders are referred to the various SENS announcement released regarding the Elandspruit Mining Right and the board of directors are pleased. . . Full story |
Discovery shareholders are referred to the announcements released on the Stock Exchange News Service (ôSENSö) on 24 February 2015 and 10. . . Full story |
In accordance with paragraph 7.20 of the JSE Ltd. Debt Listings Requirements and the terms and conditions of DRDGoldÆs ZAR2 000. . . Full story | |||
Company Results | Net loss before interest and other items narrowed to CAD3.8 million (loss of CAD4.1 million). Net loss attributable to owners lowered to CAD2.6 million (loss of CAD3.7 million). In addition, loss per share improved slightly to CAD6cps (loss of CAD7cps).
Results filed on SEDAR
Giyani shareholders are advised that the Annual Report and the MD&A for the company were filed on SEDAR on 30 March 2015.
Copies of this document may be viewed on the following link under Giyani Gold Corpo. . . Full story |
World Markets (Spot Prices)
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Click here for the Sharenet Spot Price page
The JSE Today
| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 07/04/2015 | 205 | 174 | 50 | 429 | 207,093,194 | R14,952,784,587 | 242248 | 87907 |
| 02/04/2015 | 203 | 160 | 64 | 427 | 252,593,509 | R14,861,348,095 | 210895 | 299309 |
| 01/04/2015 | 184 | 175 | 66 | 425 | 233,699,675 | R17,272,954,245 | 270717 | 2027695 |
| 31/03/2015 | 173 | 185 | 62 | 420 | 273,015,690 | R20,666,818,416 | 279006 | 1985218 |
| 30/03/2015 | 220 | 137 | 48 | 405 | 321,815,044 | R18,566,204,962 | 297453 | 1314290 |
Major Moves Up
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Major Moves Down
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New Highs
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New Lows
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Index Summary
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Stock Exchange News Service
| Date | Time | Headline |
| 07/04/2015 | 17:45 | IMPERIAL HOLDINGS LIMITED - Dealings in Securities |
| 07/04/2015 | 17:30 | ELLIES HOLDINGS LIMITED - Dealings in securities by a director |
| 07/04/2015 | 17:28 | RCL FOODS LIMITED - Dealings in securities by directors and directors of major s... |
| 07/04/2015 | 17:15 | ABSA BANK LIMITED - Full Redemption of ASN015 notes |
| 07/04/2015 | 17:14 | BOWLER METCALF LIMITED - Director's Dealing in Securities |
| 07/04/2015 | 17:00 | BRITISH AMERICAN TOBACCO PLC - Notification of transactions of directors, person... |
| 07/04/2015 | 17:00 | CARGO CARRIERS LIMITED - Renewal of cautionary announcement and new cautionary a... |
| 07/04/2015 | 16:30 | AVENG LIMITED - Disposal of 70% of Avengs industrial property portfolio in a sal... |
| 07/04/2015 | 16:20 | OLD MUTUAL PLC - Form 8.3 Disclosure |
| 07/04/2015 | 16:07 | EXXARO RESOURCES LIMITED - Exercise of matching awards and sale in terms of the ... |
| 07/04/2015 | 16:03 | DISCOVERY LIMITED - Dealing in securities by directors, directors of major subsi... |
| 07/04/2015 | 16:00 | OLD MUTUAL PLC - Form 8.3 Disclosure |
| 07/04/2015 | 15:50 | CHROMETCO LIMITED - Change in designated advisor |
| 07/04/2015 | 15:38 | MASTER DRILLING GROUP LTD - MDI - Dealings by directors |
| 07/04/2015 | 14:46 | FIRSTRAND BANK LIMITED - FRC230 - New Instrument Listing |
| 07/04/2015 | 14:30 | ASCENDIS HEALTH LIMITED - Notification in terms of section 122(3) of the Compani... |
| 07/04/2015 | 14:15 | VILLAGE MAIN REEF LIMITED - Results of General Meeting |
| 07/04/2015 | 14:00 | PAN AFRICAN RESOURCES PLC - Total voting rights |
| 07/04/2015 | 14:00 | KAP INDUSTRIAL HOLDINGS LIMITED - Notification in terms of Section 122 of the Co... |
| 07/04/2015 | 13:30 | EXXARO RESOURCES LIMITED - Exercise of conditional awards and sale in terms of t... |
| 07/04/2015 | 13:15 | COMMISSIONER STREET NO 1 (PTY) LTD - MFS1A1 and MFS1A2 - Interest Rate Reset |
| 07/04/2015 | 12:17 | BARLOWORLD LIMITED - BAW10 - Interest Rate Reset |
| 07/04/2015 | 12:15 | BARLOWORLD LIMITED - BAW# - Interest Rate Reset |
| 07/04/2015 | 12:10 | OLD MUTUAL PLC - Form 8.3 Disclosure |
| 07/04/2015 | 12:00 | OLD MUTUAL PLC - Form 8.3 Disclosure |
| 07/04/2015 | 12:00 | IPSA GROUP PLC - Extension to Power Purchase Agreement |
| 07/04/2015 | 11:22 | INVESTEC BANK LIMITED - Decrease in Issue size: ESPIBC |
| 07/04/2015 | 11:12 | POYNTING HOLDINGS LIMITED - Changes to the Board of Directors - Resignation and ... |
| 07/04/2015 | 11:10 | PETMIN LIMITED - Director's dealing in securities |
| 07/04/2015 | 11:10 | GIYANI GOLD CORPORATION - Consolidated financial year end results and MD&A filed... |
| 07/04/2015 | 11:00 | INTERWASTE HOLDINGS LIMITED - Director's dealings in securities |
| 07/04/2015 | 11:00 | BEIGE HOLDINGS LIMITED - Finalisation Announcement in respect of the Claw-back O... |
| 07/04/2015 | 10:55 | NEDBANK GROUP LIMITED - Dealings in securities by directors |
| 07/04/2015 | 10:05 | INVESTEC BANK LIMITED - New Listing: ESPIBS |
| 07/04/2015 | 10:00 | TORRE INDUSTRIES LIMITED - Dealing in securities by a director |
| 07/04/2015 | 10:00 | MERAFE RESOURCES LIMITED - Dealings in Securities by Directors of Merafe |
| 07/04/2015 | 09:45 | WESCOAL HOLDINGS LIMITED - Water usage license obtained for Elandspruit Mining R... |
| 07/04/2015 | 09:17 | IVUZI INVESTMENTS LIMITED - IVA515 - Full Capital Redemption |
| 07/04/2015 | 09:06 | THE SA NATIONAL ROADS AGENCY SOC LTD - HWAY35 - Listing of Tap Issue |
| 07/04/2015 | 09:00 | HARMONY GOLD MINING COMPANY LIMITED - Fatality at Harmonys Unisel mine |
| 07/04/2015 | 08:58 | INTERWASTE HOLDINGS LIMITED - Director's Dealings in securities |
| 07/04/2015 | 08:45 | DISCOVERY LIMITED - Results of the Rights Issue |
| 07/04/2015 | 08:32 | GIYANI GOLD CORPORATION - First tranche uptake in private placing |
| 07/04/2015 | 08:30 | DRDGOLD LIMITED - Partial capital withdrawal |
| 07/04/2015 | 08:00 | CAPITAL & COUNTIES PROPERTIES PLC - Completion of Earls Court Partnership Limite... |
| 07/04/2015 | 07:30 | DELTA INTERNATIONAL PROPERTY HOLDINGS LIMITED - Placing, issue and listing of up... |
| 07/04/2015 | 07:05 | BHP BILLITON PLC - Appointment of South32 Non-Executive Directors |
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