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 The Sharenet Daily 
Tuesday, 12 May 2015 - 20:00
 
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News
Top News
Markets
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)


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Seed Weekly - Perspective

Last week I had the privilege of spending 9 days surrounded by positive people riding through the most beautiful places and being helped after the ride by hordes of children with impeccable manners. This wasn’t in some exotic foreign location; I had the privilege to “ride the beloved country”. The hospitality, friendliness, and just the overall positive ambiance was an honour to experience.

As South Africans we tend to call ourselves realists i.e. we always focus on the negative. The huge number of foreigners on the ride kept on reminding us how incredibly lucky we were to be able to live in South Africa. I immediately hear a number of people asking what my experiences last week have to do with a financial advice article and it is quite simple really. One of my tasks as a financial advisor is to help investors with the asset and geographic allocation of their investments. I remember back in 1997 when Chris Ball, the chairman of the 2004 Cape Town Olympic Bid, said that in their projections they were using an exchange rate of R20/$ for their 2004 cost projections, I also remember in 2000 as a financial advisor having most of my clients telling me that South Africa was a basket case, Mandela is sick, the Rand is rubbish and they want to take all their money offshore. If we look at the graph below you can see that for a while the offshore investments outperformed local investments but this success was short lived. Both the South African market and the Rand did incredibly well with the Rand only now reaching the highs/lows (depending on your perspective) of December 2001, but the local asset markets delivering materially more returns (note the log scale used).

I am in no way proposing that you should have no investments offshore and I am also the first one to admit that as a nation we have an incredible knack of scoring “own goals” where Eskom, corruption, government incompetence, Xenophobia, shocking education, and unproductive labour are just a few of the more prominent own goals. What we fail to remember is that very often our currency has very little to do with internal events, be they good or bad. The chart below shows the incredibly high correlation between the ZARUSD and the BRLUSD. One US dollar cost R4.50 in January 1997 and is now hovering around R12, one US dollar cost around BRL1 in January 1997 and is now hovering around BRL3.

Geographic diversification is vital to reducing the risk of any portfolio, so it is important as a South African to have money invested globally. My big concern, however, is that at the moment a number of people appear to be “throwing the baby out with the bath water” in their rush to get all their assets offshore. This reminds me of the period we went through in 2000 and 2001. Investors tend to forget that if they plan on retiring in South Africa, the majority of their investments need to be domiciled in rands. They also tend to forget Ian’s article of a few weeks ago that shows that the local stock market actually benefits from the weaker rand due to the internationalisation of our index.

So, when you look at your investment portfolio, it is imperative to take a step back to get a fresh perspective on the bigger picture.

Kind regards,

Barry Hugo

www.seedinvestments.co.za
info@seedinvestments.co.za
021 914 4966

Tue, 12 May 2015
Top News
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Local markets The JSE All Share fell 0.42% on Tuesday, with gains in gold miners and resources failing to offset losses in other sectors.  Full story

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South Africa's cash-strapped power utility Eskom, could earn nearly 40 billion rand ($3 billion) if a 25.3 percent tariff increase it has requested is approved, a spokesman said on Tuesday. Eskom, which is battling the worst power supply shortages in Africa's most advanced economy  Full story
Greek Prime Minister Alexis Tsipras on Tuesday called on lenders to break an impasse in cash-for-reform talks after Athens had to resort to a temporary expedient to make a crucial payment to the IMF.  Full story
U.S. Secretary of State John Kerry said he had "frank" talks about Ukraine, Syria and Iran with Russian President Vladimir Putin on Tuesday and said it was important to keep in contact.  Full story
Saudi-led air strikes pounded the rebel-held Yemeni capital Sanaa on Tuesday just hours before a five-day humanitarian ceasefire was set to begin.  Full story
 
Markets
German bond yields climbed on Tuesday on optimism that inflation may have bottomed in the euro zone, generating demand for European currencies, while volatility. . .  Full story
Gold rose up to 1 percent on Tuesday as the dollar and European shares suffered from a sell-off in global bond markets, although. . .  Full story
Hong Kong stocks fell on Tuesday, hurt by profit-taking in property and financial stocks following the previous session's rise triggered by China's weekend. . .  Full story
China stocks rose for the third consecutive session on Tuesday, with the market maintaining momentum generated by the central bank's interest rate cut. . .  Full story

Japanese shares ended flat on Tuesday, erasing losses from earlier in the session thanks to gains in companies reporting rosy outlooks, which helped. . .  Full story
Australian shares closed higher for the first time in a week on Tuesday as the banking sector staged a tentative comeback after an. . .  Full story
Global equity markets eased on Monday on a dip in energy shares and fears a resolution to Greece's financial woes is not in. . .  Full story
Gold eased on Monday as the impact of a rebounding dollar, bolstered by persistent concern about future Greek debt payments, outweighed U.S. data supporting. . .  Full story
SA Business
South Africa's credit rating could be downgraded if the government's commitment to fiscal consolidation and stabilising its debt falters, ratings agency. . .  Full story
South African competition authorities will launch an investigation on the retail industry to ascertain that there was sufficient competition, a cabinet. . .  Full story
South African utility Eskom,which has been battling a power supply shortfall, said it would shut off up to 2,000 megawatts of. . .  Full story
South Africa's manufacturing production expanded more than expected by 3.8 percent year-on-year in March after a revised 0.4 percent contraction in. . .  Full story

South Africa's Transnet said it will shut down its coal export line over a 10-day period for annual maintenance but this. . .  Full story
India has named private banker K.V. Kamath as the first head of a new development bank being set up by the BRICS group. . .  Full story
South African mining minister Ngoako Ramatlhodi said on Tuesday he was concerned with the rate of job cuts at mining firms. . .  Full story
German industrial gases company Linde is seeing good progress at businesses in South Africa and Australia, where it has launched cost. . .  Full story

South African government bonds fell sharply on Tuesday, tracking a broader sell-off partly prompted by investors' concerns about the global impact of Greece's debt problems.. . .  Full story
South Africa's Baroka Platinum will offer up to 1.8 billion rand ($150 million) for Atlatsa Resources' stake in the joint venture Bokoni mine, a source with direct knowledge of the matter said Monday.. . .  Full story
Company News
Cadiz Holdings Ltd hereby advise shareholders that Lulamile Lincoln Xate has been appointed to the board with effect from 12 May. . .  Full story
Shareholders of Barloworld (˘Shareholders÷) are referred to the Broad-Based Black Economic Empowerment (˘B-BBEE÷) transaction implemented by Barloworld in September 2008 ("the. . .  Full story
Shareholders are advised that the voting results for the annual general meeting (˘AGM÷) of Nedbank Group held at the registered offices. . .  Full story
Business Report highlighted that Calgro M3 Holdings maintains its new business venture focusing on the development of private memorial parks would. . .  Full story

Shareholders are referred to the cautionary announcement released by the company on SENS on 22 January 2015 and the subsequent renewal of cautionary announcements released on 5 March 2015 and 16. . .  Full story
Coal is pleased to announce that it has reached an agreement (the ˘Amendment Agreement÷) with Rio Tinto Minerals Development Ltd. (˘Rio Tinto÷) and Kwezi Mining (Pty) Ltd. (˘Kwezi÷, together with Rio. . .  Full story
In terms of paragraph 3.4(b) of the Johannesburg Stock ExchangeĂs Listings Requirements, a listed company is required to publish a trading statement as soon as it is satisfied that a reasonable. . .  Full story
Company Results
Revenue for the year increased to R932.2 million (2014: R784.9 million). Gross profit raised to R174.9 million (2014: R113 million), operating. . .  Full story
Revenue for the year grew to R7.2 billion (R6.3 billion). Gross profit rose to R987.5 million (R861.1 million). Operating profit increased. . .  Full story
Revenue for the period lowered to USD1.122 billion (2014: USD1.359 billion). Gross profit decreased to USD209 million (2014: USD296 million), operating. . .  Full story
Total revenue for the interim period rose to R592.6 million (R295.7 million). Net operating profit increased to R402.1 million (R191.3 million).. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0053934.41-226.64-0.42%
JSE Top 4017:0047868.91-229.34-0.48%
JSE Gold17:001218.45.730.06%
JSE Financial17:0045318.90-264.12-0.58%
JSE Industrial17:0075953.86-497.25-0.65%
JSE Indust 2517:0067509.66-480.33-0.71%
JSE Resource17:0045457.91338.420.75%
DJ Futures19:5818026.00-15.00-0.08%
DJ Ind19:5818074.87-30.30-0.17%
SP 50019:582099.78-5.55-0.26%
Nasdaq19:584980.89-12.68-0.25%
FTSE 10017:256944.80-85.05-1.21%
DAX18:0811472.41-200.94-1.72%
CAC4018:084974.65-53.22-1.06%
Nikkei08:3219624.843.930.02%
Shanghai09:284401.2267.641.56%
Hang-Seng06:2827630.82-87.38-0.32%
All Ords08:375673.1045.500.81%
NZSE 5007:485746.23-1.72-0.03%
NameTimeRPMove% Move
Gold $19:591192.608.890.75%
Gold R19:5914367.0172.820.51%
Gold R/kg19:584621277790.17%
Silver $19:5916.5370.23801.46%
Platinum $19:591131.907.400.66%
Palladium $19:59784.746.930.89%
R18616:558.15.050.62%
R20416:487.35.071.03%
R20716:487.60.091.20%
Brent Crude19:5866.691.782.74%
Rand / Dollar19:5912.0480-0.0273-0.23%
Rand / Pound19:5518.86200.07160.38%
Rand / Euro19:5513.52230.05490.41%
Rand / NZD19:598.87620.00590.07%
Rand / AUD19:559.62440.08840.93%
Yen / Dollar19:59119.9480-0.1660-0.14%
Euro / Dollar19:590.8910-0.0057-0.64%
Dollar / Euro19:591.12220.00710.63%
Pound / Dollar19:550.6377-0.0039-0.61%

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The JSE Today

Trading Statistics
DateAdv.Decl.Unch.ActivesVolumeValueTradesOrders
12/05/201516217666404234,440,000R18,870,614,8462399361631478
11/05/201520114068409198,761,966R17,341,596,486229778519393
08/05/201524810856412207,304,583R18,390,252,1302640582160356
07/05/201513124959439298,395,458R23,060,448,0743049542211903
06/05/201511926055434290,826,947R22,603,867,1233092532156002
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 NIVEUS  312532511.61.%10000
2 OCEANA  112508017.67.%15029
3 BEE-SASOL  3600119965.87.%88
4 CARGO  1700925.72.%486
5 TOWER  1000505.26.%25756
6 CALGRO  1660805.06.%53554
7 WESCOAL  16474.46.%198363
8 AME  95004004.40.%100
9 DIGICOR  290113.94.%76598
10 ALTRON  1400503.70.%9251
11 KUMBAIO  165705603.50.%480529
12 AEEI  310103.33.%25124
13 RAUBEX  2200703.29.%561589
14 PPC  1683533.25.%3688170
15 SIRIUS  650203.17.%288773
16 ARCMITTAL  1750533.12.%614374
17 DAWN  680203.03.%13100
18 AFROX  1390402.96.%197171
19 AQUARIUS  17652.92.%1165582
20 INVICTA  81432232.82.%55372

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Major Moves Down
SharenameSaleMove% MoveVolume
1 LONFIN  400-200-33.33.%1500
2 ADRENNA  114-15-11.63.%61300
3 COMPCLEAR  480-60-11.11.%600
4 Cognition  200-14-6.54.%11000
5 AMECOR  250-15-5.66.%3250
6 BLUETEL  838-37-4.23.%422642
7 DENEB  200-8-3.85.%20000
8 EASTPLATS  2150-74-3.33.%33230
9 MARSHALL  1600-50-3.03.%105500
10 PETMIN  141-4-2.76.%4300297
11 NAMPAK  4162-113-2.64.%884763
12 GRANPRADE  644-16-2.42.%382052
13 RBPLAT  5049-125-2.42.%85954
14 DISCOVERY  12475-285-2.23.%2689883
15 FORTRESSA  1570-35-2.18.%1413663
16 TIMES  2200-49-2.18.%450
17 CURRO  3456-76-2.15.%46794
18 OLDMUTUAL  4268-93-2.13.%5847441
19 OMNIA  17080-371-2.13.%66798
20 ASCENDIS  1434-31-2.12.%167577

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New Highs
SharenameSaleHighMove% MoveVolume
1 AME  950095004004.40.%100
2 SIRIUS  650720203.17.%288773
3 TRANSCAP  975975262.74.%593673
4 JDGROUP  33783384-1-0.03.%4457
5 OLDMUTUAL  42684364-93-2.13.%5847441

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New Lows
SharenameSaleLowMove% MoveVolume

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Index Summary
Index NameRPMove% Move
Top 4047,868.91-229.34-0.48%
Industrial75,953.86-497.25-0.65%
Mid Cap73,609.90-123.84-0.17%
Small Cap61,821.7549.110.08%
Resource 2045,457.91338.420.75%
Industrial 2567,509.66-480.33-0.71%
Financial 1517,272.25-137.13-0.79%
Financial & Ind. 3072,603.49-528.95-0.72%
All Share53,934.41-226.64-0.42%
Oil & Gas 33,692.7484.650.25%
Mining 27,424.65197.730.73%
Gold Mining1,218.45.730.06%
Platinum Mining32.29-.03-0.09%
GENERAL MINING8,138.0270.690.88%
Oil & Gas Producers 18,115.9745.520.25%
Basic Materials 25,235.43134.620.54%
Chemicals 23,639.07139.550.59%
Forestry & Paper 41,142.03-527.78-1.27%
Industrial Metals 9,501.51263.382.85%
Industrials 45,987.15-261.86-0.57%
General Industrials 161.74-1.51-0.92%
Consumer Goods 67,415.33-633.57-0.93%
Automobiles & Parts 8,371.70-63.41-0.75%
Household Goods526.31-2-0.40%
Health Care 10,152.37-68.08-0.67%
Beverages 226.82-3.06-1.33%
Index NameRPMove% Move
Food Producers 8,807.94-18.66-0.21%
Personal Goods 1,055.19-8.49-0.80%
Consumer Services 16,209.97-124.20-0.76%
General Retailers 84,645.27-283.29-0.33%
Travel & Leisure 6,668.7838.920.59%
Media 387.63-4.53-1.16%
Support Services 2,959.9111.150.38%
Telecommunications 11,362.32-9.03-0.08%
Financials 45,318.90-264.12-0.58%
Banks 81,466.37-173.80-0.21%
Non-life Insurance 55,942.13-1199.54-2.10%
Life Insurance 43,397.30-621.93-1.41%
General Financial 4,341.70-34.66-0.79%
Technology 61,641.36-502.87-0.81%
SHARIAH TOP40 3,823.84100.26%
FTSE/JSE SHARIAH ALL4,048.3580.21%
COAL MINING12,455.921721.40%
FTSE JSE Fledgling 6,941.21360.52%
FTSE/JSE Alt X 1,331.28110.82%
SA LISTED PROPERTY 634.480.03%
CAPPED PROPERTY 552.840.01%
RESOURCE 24,891.521790.73%
DIVIDEND PLUS237.5300.14%
FTSE/JSE RAFI 4010,256.73-17-0.17%
Capped Top 4025,563.45-117-0.46%
Capped All Share27,356.51-115-0.42%
JSE TABACO 8,593.37-78-0.90%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
MTNMTN GROUP LIMITEDHOLD09/05/2015
SBKSTANDARD BANK GROUP LIMIT...BUY09/05/2015
SABSABMILLER PLCHOLD08/05/2015
HARHARMONY GOLD MINING COMPA...HOLD08/05/2015
GFIGOLD FIELDS LIMITEDSELL08/05/2015
Results Expected**
ExpectedCompany NameFin. Date
13/05/2015ALTRONFebruary 2015 (Final)
13/05/2015ALTRON PPFebruary 2015 (Final)
13/05/2015ATLATSAMarch 2015 (Q)
13/05/2015CAFCAMarch 2015 (Interim)
13/05/2015DATATECFebruary 2015 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
ARROWB11/05/1529/05/1508/06/15ZAR 0.1870
ARROWA11/05/1529/05/1508/06/15ZAR 0.1870
RAUBEX11/05/1529/05/1508/06/15ZAR 0.3600
TRADEHOLD PREF08/05/1522/05/1501/06/15ZAR 0.1756
REDEFINE07/05/1522/05/1501/06/15ZAR 0.3900
Ex Div**
Share NameDec-DateLDTPay-DateAmount
NTC PREF13/04/1508/05/1518/05/15ZAR 3.8052
ECSP C222/04/1508/05/1518/05/15ZAR 1.0164
ECSP C22/04/1508/05/1518/05/15ZAR 1.0164
ECSP A222/04/1508/05/1518/05/15ZAR 0.7671
ECSP A22/04/1508/05/1518/05/15ZAR 0.7671

Upcoming AGMs**
CodeCompany NameDateStatus
SGLSibanye Gold Ltd.12/05/2015Confirmed
HILHomechoice International P.L.C.12/05/2015Confirmed
SBVSabvest Ltd.13/05/2015Confirmed
SVNSabvest Ltd.13/05/2015Confirmed
ENXenX Group Ltd.13/05/2015Confirmed

Stock Exchange News Service
DateTimeHeadline
12/05/201517:50WINHOLD LIMITED - Trading Statement
12/05/201517:43RESILIENT PROPERTY INCOME FUND LTD - Acceptance of shares in terms of the Resili...
12/05/201517:35CAPITEC BANK HOLDINGS LIMITED - Bookbuild Facilitating A Restructure Of A Part O...
12/05/201517:05EFFICIENT GROUP LIMITED - Dealings in securities by a director of major subsidia...
12/05/201517:05JSE LIMITED - Index Change Advice - 20150520 Vukile Property Fund Shares In Issu...
12/05/201517:00BRITISH AMERICAN TOBACCO PLC - Notification of transactions of directors, person...
12/05/201516:16TOWER PROPERTY FUND LIMITED - Dealings in securities by directors of the company
12/05/201516:00DELTA PROPERTY FUND LIMITED - Posting of circular and withdrawal of cautionary a...
12/05/201516:00SABMILLER PLC - Directorate Change
12/05/201516:00MAZOR GROUP LIMITED - Audited Results for the year ended 28 February 2015
12/05/201515:55CADIZ HOLDINGS LIMITED - Changes in Directors
12/05/201515:36STANDARD BANK OF SOUTH AFRICA LD - SCIB: REIT DISTRIBUTION in relation to the R...
12/05/201515:35STANDARD BANK OF SOUTH AFRICA LD - CANCELLATION OF S357461 SCIB: REIT Distributi...
12/05/201515:30MR PRICE GROUP LIMITED - Purchase of shares by share trust
12/05/201515:15GROWTHPOINT PROPERTIES LIMITED - Dealings in securities by director of a major s...
12/05/201515:10BEIGE HOLDINGS LIMITED - Results of the Claw-back Offer
12/05/201514:45ROCKCASTLE GLOBAL REAL EST CO LTD - Availability of abridged unaudited consolida...
12/05/201514:30ROCKCASTLE GLOBAL REAL EST CO LTD - Abridged unaudited consolidated financial st...
12/05/201514:28STANDARD BANK OF SOUTH AFRICA LD - SCIB: REIT Distribution announcement in relat...
12/05/201514:16HOMECHOICE INTERNATIONAL PLC - Cash dividend declaration
12/05/201514:15HOMECHOICE INTERNATIONAL PLC - Report on proceedings at the annual general meeti...
12/05/201514:05OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
12/05/201514:00BARLOWORLD LIMITED - Announcement relating to proposed amendments to Barloworld'...
12/05/201514:00ABSA BANK LIMITED - ACL218 - New Financial Instrument Listing
12/05/201514:00ARCELORMITTAL SOUTH AFRICA LIMITED - Appointment of Chief Financial Officer and ...
12/05/201513:55STANDARD BANK OF SOUTH AFRICA LD - SCIB: REIT Distribution in relation to the RD...
12/05/201512:45STANDARD BANK OF SOUTH AFRICA LD - SCIB: - Adjustment to the T's & C's of the BH...
12/05/201512:17STANDARD BANK OF SOUTH AFRICA LD - SCIB: Adjustments to T's & C's of the BHP Bil...
12/05/201511:30DEUTSCHE BANK AG - Listing of New WAVEs -TOPDWO, TOPDWA, TOPDWR, TOPDWS
12/05/201511:25NEDBANK GROUP LIMITED - Results of annual general meeting
12/05/201510:45PALLINGHURST RESOURCES LIMITED - Changes to the Board
12/05/201510:00MONDI LIMITED - MND\MNP - Upgrade of Standard & Poors (S&P) Long Term Credit Rat...
12/05/201509:47VILLAGE MAIN REEF LIMITED - Notification in terms of Section 122 of the Companie...
12/05/201509:10ILLOVO SUGAR LIMITED - Profit and Dividend Announcements of Illovo Sugar (Malawi...
12/05/201509:00CURRO HOLDINGS LIMITED - Dealing in Curro Shares by Directors and/or their Assoc...
12/05/201508:45ALLIED ELECTRONICS CORPORATION LTD - Renewal of Cautionary Announcement
12/05/201508:30SUN INTERNATIONAL LIMITED - Posting of Circular and Notice of General Meeting
12/05/201508:15BHP BILLITON PLC - 2015 Global Metals, Mining and Steel Conference
12/05/201508:00COAL OF AFRICA LIMITED - Soutpansberg Deferred Consideration amendment agreement...
12/05/201507:05ADRENNA PROPERTY GROUP LIMITED - Trading Statement

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