Having trouble reading this email? View in your web browser
 The Sharenet Daily 
Tuesday, 04 August 2015 - 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)

Sharenet Securities - smarter investing | online

* Lightning quick order entry and cancelation
* Sophisticated portfolio and share selection tools
* Lowest rates in South Africa: only 0.3% commission

Seed Weekly - Market Update

BCA Research make the comment that, “There is little mystery about what is going on: the global economy is grappling with the fallout from not just the end of the debt supercycle, but from the end of the commodity supercycle as well.

These two main factors definitely drove both local and global markets in July, which went on to be a very volatile month.

Local equities managed to end the month in the black – up 0,5%. This was despite the JSE Mining shares declining 8,5% in the month and down 12% for the year to date. This sector has dragged down the JSE All Share return to just 6,2% for the year to date.

In July the local Reserve Bank took a pre-emptive step with short term interest rates - raising the repo rate from 5,75% to 6% in mid-July. This is despite low economic growth and inflation at reasonable levels.

The increase in short term interest rates did not help the local currency, which fell to a multiyear low against the US dollar, falling to R12,65/ dollar at the end of the month.

However local long bonds ended a losing streak and the All Bond index gained 1% for the month. For the 7 months to the end of July, local bonds are up 2,6%. This is still below cash returns for the year to date of 3,65%.

Local property shares also bounced up from a couple of difficult months. The local property index gained 5% in July and 12,1% for the year to date. It remains the best performing asset class for the year.

The large drop in a range of commodity prices put the mining sector component of the market under pressure. Gold shares were very hard hit, declining almost 22% for the month.

Some of the main points on the global markets included:

• Greece came every close to a default on its debt, coming perilously close to an exit from the EU. While this is still not totally out of the question, the fallout from a Greece default may have reasonably limited implications on a global scale. But the ongoing problems are indicative of the dangers of highly indebted nations that have been unable to trade out and renegotiate their high debt levels.

In mid-July Greece and European creditors agreed to a further 86 billion euro bailout, still to be approved by parliament and all European member states.

• Commodity prices continued to fall sharply in July. The Bloomberg Commodity Index dropped 11%, the biggest decline since 2011.

Platinum continued to slide – trading below $1000 from over $1500 a year ago.

Gold traded to a new 5 year low dipping below $1100/oz. This from over $1300/oz. a year ago. The 6,5% decline in July was the biggest drop since June 2013.

A range of other metals also fell sharply. Oil is down in price, as is iron ore prices.

• Chinese growth rates have slowed. Leveraged investors started selling and the Chinese Shanghai index fell 14,3% for the month. Still for the 12 months it is up 66,4%.

• Emerging market currencies were under pressure in July with most of them falling further. The currencies of commodity exporting countries such as Australia and Canada also declined further against the US dollar.

• Emerging market equities were also under pressure. The MSCI Emerging Equity Index retreated by 7.26%.

• The US S&P 500 index gained 1,97% in July and is up 3,3% for the year to date. All of the gains in the S&P 500 so far this year are attributable to only two industries: health care and retail. The healthcare sector gained over 14% year to date.

These are just some of the highlights for the month and year to date. Because of the extremes in market moves with some asset classes like commodities and related resource shares falling very sharply, it has been important to have had low exposure to this asset class. At some point these prices will settle and turn, but currently they are indicative of a low growth world, with excess capacity, low inflation in general and low demand. This despite the monetary authorities’ ongoing attempt to reflate asset prices.

Kind regards,

Ian de Lange

Tel +27 21 914 4966
Fax +27 21 914 4912
Email info@seedinvestments.co.za

Seed is hiring: Click through to our LinkedIn profiles to see vacancies at Seed Investment Consultants and Seed Analytics


Tue, 04 Aug 2015
Top News
Local markets The JSE All Share ended 1.57% higher today with gains led by financial shares, offsetting losses in gold miners.  Full story

South Africa's mines minister has ordered Glencore to suspend all operations at a coal mine because of the way it planned to carry out job cuts. The country's mining industry is battling sinking commodity prices, rising costs and labour unrest. Glencore announced in July it would c  Full story
Turkey's nationalist opposition would support a minority government formed by the ruling AK Party if it agreed to hold a snap election in November, its deputy chairman Semih Yalcin told Reuters on Tuesday.  Full story
Pakistan on Tuesday hanged a man whose case triggered an international outcry because his lawyers said he was arrested as a juvenile and tortured into confessing to murder.  Full story
Fighters loyal to Yemen's deposed president seized about 10 southern villages from Houthi forces on Tuesday, maintaining momentum in their offensive a day after capturing the country's biggest air base, residents and loyalist sources said.  Full story
Apple weighed heavily on all major U.S. stock indexes on Tuesday as it fell for the fifth straight day, while oil steadied a. . .  Full story
Gold rose on Tuesday as the dollar weakened after soft U.S. economic data, while platinum and palladium hit multi-year lows on oversupply and. . .  Full story
Hong Kong stocks were steady on Tuesday as anxiety ahead of earning reports tempered by a rally in China's main indexes as Beijing. . .  Full story
Australian shares pared early gains but finished 0.3 percent higher on Tuesday after the central bank held interest rates at record lows without indicating. . .  Full story

Japan's Nikkei share average edged down on Tuesday on weakness in manufacturing activity in China and the United States, prompting investors to rotate. . .  Full story
Stocks fell and oil futures prices sank to a six-month low on Monday on demand concerns after factory data from China and the. . .  Full story
Gold dropped on Monday, after falling by the most in two years in July, as the dollar rose and investors monitored U.S. economic. . .  Full story
Hong Kong's benchmark Hang Seng index ended lower on Monday, tracking China indexes on weak factory activity, but buying interest in HSBC after. . .  Full story
SA Business
South Africa's electricity utility Eskom said on Tuesday it would renegotiate contracts with coal suppliers because it was paying too much given a recent drop in commodity prices.. . .  Full story
South Africa's Royal Bafokeng Platinum (RBPlat) on Tuesday swung into a first-half loss as it battled low metal prices, a softer currency and reduced output.. . .  Full story
South Africa's rand recovered some lost ground against the dollar and its emerging market peers in early trade on Tuesday, but remained vulnerable ahead of the U.S. jobs data later. . .  Full story

Coal prices' downward trajectory shows no sign of reversing as a supply glut, combined with expectations that demand from top consumer China will shrink. . .  Full story
ArcelorMittal's South African unit temporarily withdrew a notice on job cuts at its Vereeniging steel mill, trade union Solidarity said on. . .  Full story
Emerging market currencies strengthened on Monday, getting help from a weaker dollar. A small bounce in oil prices boosted the Russian rouble.. . .  Full story
South Africa's fourth-largest bank Nedbank reported a 14.1 percent increase in first-half profit on Tuesday as growth in fee income helped. . .  Full story
Company News
Joint update announcement: Acquisition by Telkom of the entire issued share capital of BCX Unless defined herein, terms used in this announcement. . .  Full story
Joint update announcement: Acquisition by Telkom of the entire issued share capital of BCX Unless defined herein, terms used in this announcement. . .  Full story
Shareholders are advised that earnings per share ("EPS") and headline earnings per share ("HEPS") for the six months ended 30 June. . .  Full story
The Emira board advised shareholders that Mr Geoff Jennett, currently chief financial officer and an executive director of Emira, has been. . .  Full story
Company Results
Revenue for the interim period ended 31 June 2015 decreased by 22.1% to R1.423 billion (2014: R1.827 billion). Gross profit plummeted. . .  Full story
Revenue for the interim period rose to R2.223 billion (2014: R1.991 billion). EBITDA lowered to R335.9 million (2014: R431.1 million), profit. . .  Full story
Net interest income rose to R11.7 billion (R11.3 billion). Profit from operations jumped to R6.9 billion (R6.4 billion). Profit attributable to. . .  Full story
Net interest income rose by 2.6% to R10.981 billion (2014: R10.698 billion), profit from operations increased by 5.8% to R5.523 billion. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0052437.84808.171.57%
JSE Top 4017:0046917.54796.721.73%
JSE Gold17:00757.37-16.78-2.17%
JSE Financial17:0046309.85931.642.05%
JSE Industrial17:0076399.801156.231.54%
JSE Indust 2517:0068272.051066.121.59%
JSE Resource17:0035099.04292.630.84%
DJ Futures31/0717627.00189.000.00%
DJ Ind19:5817545.22-52.98-0.30%
SP 50019:582093.75-4.29-0.20%
FTSE 10017:356686.57-2.05-0.03%
All Ords08:375681.9017.600.31%
NZSE 5008:085933.75-24.10-0.40%
NameTimeRPMove% Move
Gold $19:591088.333.380.31%
Gold R19:5813826.5870.500.51%
Gold R/kg19:58444520-546-0.12%
Silver $19:5914.5520.07500.52%
Platinum $19:59952.60-3.40-0.36%
Palladium $19:59595.30-2.00-0.33%
Brent Crude19:4250.13-2.08-3.98%
USD / ZAR19:5912.70540.02810.22%
GBP / ZAR19:5519.75290.01910.10%
EUR/ ZAR19:5513.8615-0.0289-0.21%
NZD/ ZAR19:588.32530.00050.01%
AUD / ZAR19:559.38870.15931.73%
USD / JPY19:59124.14700.16300.13%
EUR / USD19:591.0917-0.0037-0.34%
GBP / USD19:591.5581-0.0004-0.02%

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 BASREAD  5156514.44.%147782
2 MDCN-N  188019711.71.%1664261
3 ARCMITTAL  148015511.70.%268193
4 INTEWASTE  1181110.28.%58050
5 HOWDEN  30752759.82.%426103
6 Cognition  200136.95.%4900
7 ADVHLTH  224146.67.%33602
8 ILLOVO  1469815.84.%942364
9 ASCEN_B  280155.66.%7050
10 LEWIS  59003005.36.%1191559
11 BELL  900445.14.%180410
12 NEDCOR  2710213115.08.%1131780
13 ASTRAL  179507504.36.%154959
14 DIAMONDCP  240104.35.%4000
15 RMBH  70622844.19.%1437624
16 SHOPRIT  172176904.17.%1973731
17 NVEST  280114.09.%1800
18 TIGBRANDS  2986011704.08.%772375
19 PHUMELELA  1899723.94.%3179
20 SIRIUS  675253.85.%1098307

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 SILVERB  141-35-19.89.%10161
2 EASTPLATS  1300-148-10.22.%495
3 HULAMIN  467-53-10.19.%257188
4 LONMIN  880-94-9.65.%2082457
5 MARSHALL  1401-149-9.61.%13500
6 TRUSTCO  412-33-7.42.%37319
7 RBPLAT  3360-235-6.54.%170675
8 MASONITE  3099-201-6.09.%100
9 AMECOR  236-14-5.60.%43434
10 ETFPLD  7547-314-3.99.%133
11 ITLTILE  1201-49-3.92.%497972
12 SIBANYE  1554-62-3.84.%1062274
13 KUMBAIO  9836-371-3.63.%1300203
14 DELTAINT  1625-55-3.27.%9400
15 HARMONY  1167-32-2.67.%1167481
16 EXXARO  6957-187-2.62.%301401
17 DENEB  195-5-2.50.%30000
18 ASTRAPAK  371-9-2.37.%1855
19 MAS  1899-46-2.37.%41385
20 METROFILE  421-10-2.32.%39669

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 NEDCOR  271022745013115.08.%1131780
2 WOOLIES  10201102403273.31.%2464033
3 FAMBRANDS  13293133723933.05.%221832
4 MONDILTDP  31090312037532.48.%488577
5 ADVTECH  12501329302.46.%678900
6 BCX  645645152.38.%910555
7 MONDIPLCP  31200312037202.36.%494727
8 BRAIT  15950163003502.24.%2282360
9 SPAR  20210204454352.20.%535564
10 BATS  75430758388251.11.%472604
11 DATATEC  70157114751.08.%373695
12 ANCHOR  13501390120.90.%49436
13 REINET  29362961220.75.%3249884
14 PNR-FOODS  20760211891370.66.%445943
15 HYPROP  1301813180180.14.%706390
16 CALGRO  21872216-3-0.14.%195514
17 CLICKS  988010203-75-0.75.%1692992
18 CAT  20632150-37-1.76.%449496

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 HULAMIN  467465-53-10.19.%257188
2 LONMIN  880880-94-9.65.%2082457
3 RBPLAT  33603211-235-6.54.%170675
4 SIBANYE  15541535-62-3.84.%1062274
5 KUMBAIO  98369485-371-3.63.%1300203
6 HARMONY  11671157-32-2.67.%1167481
7 EXXARO  69576800-187-2.62.%301401
8 GFIELDS  31823133-63-1.94.%1853293
9 ANGGOLD  74007290-140-1.86.%1398324
10 ARM   66006526-100-1.49.%458047
11 GLENCORE  39493900-51-1.28.%2475449
12 IMPLATS  43444253-46-1.05.%3455759
13 ANGLO  1509914825600.40.%2522670
14 PAN-AF  12812521.59.%397573

Click here for more Major Moves...

Index Summary
Index NameRPMove% Move
Top 4046,917.54796.721.73%
Mid Cap68,213.63477.280.70%
Small Cap59,159.04485.550.83%
Resource 2035,099.04292.630.84%
Industrial 2568,272.051066.121.59%
Financial 1517,477.60425.942.50%
Financial & Ind. 3073,600.401304.531.80%
All Share52,437.84808.171.57%
Oil & Gas 10,988.24-8.46-0.08%
Mining 20,913.96152.580.73%
Gold Mining757.37-16.78-2.17%
Platinum Mining20.72-.38-1.80%
GENERAL MINING6,466.0183.431.31%
Oil & Gas Producers 59,081.72-45.52-0.08%
Basic Materials 21,026.22184.980.89%
Chemicals 21,908.3098.150.45%
Forestry & Paper 49,714.121163.672.40%
Industrial Metals 6,252.07-58.04-0.92%
Industrials 44,899.86996.782.27%
General Industrials 161.374.512.88%
Consumer Goods 69,568.36595.480.86%
Automobiles & Parts 8,199.602.260.03%
Household Goods531.1840.85%
Health Care 10,196.23202.462.03%
Beverages 229.841.580.69%
Index NameRPMove% Move
Food Producers 8,872.79214.062.47%
Personal Goods 1,092.356.490.60%
Consumer Services 16,451.55408.692.55%
General Retailers 8,590.24228.892.74%
Travel & Leisure 6,124.3061.101.01%
Media 393.189.702.53%
Support Services 3,379.646.490.19%
Telecommunications 10,318.62123.781.21%
Financials 46,309.85931.642.05%
Banks 8,061.55249.643.20%
Non-life Insurance 55,076.92255.220.47%
Life Insurance 42,876.331178.782.83%
General Financial 4,976.8658.511.19%
Technology 68,036.33764.621.14%
SHARIAH TOP40 3,440.91441.30%
FTSE/JSE SHARIAH ALL3,639.31391.09%
COAL MINING8,794.87-236-2.62%
FTSE JSE Fledgling 6,687.97240.37%
FTSE/JSE Alt X 1,413.50241.71%
RESOURCE 18,995.151380.73%
DIVIDEND PLUS214.3431.35%
FTSE/JSE RAFI 409,427.701401.51%
Capped Top 4025,044.964251.73%
Capped All Share26,597.434101.57%
JSE TABACO 9,638.631051.11%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
05/08/2015MTN GROUPJune 2015 (Interim)
05/08/2015RESILIENTJune 2015 (Final)
06/08/2015AQUARIUSJune 2015 (Final)
06/08/2015AQUARIUSCVTJune 2015 (Final)
06/08/2015MONDILTDJune 2015 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
ASCEN B30/07/1506/08/1531/08/15ZAR 0.1330
REBOSIS30/07/1506/08/1517/08/15ZAR 0.3804
FORTRESSB30/07/1521/08/1531/08/15ZAR 0.3920
INTUPLC30/07/1516/10/1524/11/15GBP 0.0460
IMPL CONV30/07/1506/08/1521/08/15ZAR 250.0000
Ex Div**
Share NameDec-DateLDTPay-DateAmount
PERGRIN10/06/1531/07/1511/08/15ZAR 1.5000
SABMILLER13/05/1531/07/1507/08/15USD 0.8700
BRAIT17/06/1531/07/1511/08/15ZAR 0.7712
ANGLO24/07/1531/07/1517/09/15USD 0.3200
PRESCIENT24/06/1531/07/1511/08/15ZAR 0.0300

Upcoming AGMs**
CodeCompany NameDateStatus
TDHTradehold Ltd.04/08/2015Confirmed
TDHPPTradehold Ltd.04/08/2015Confirmed
TDHPTradehold Ltd.04/08/2015Confirmed
IAPInvestec Australia Property Fund04/08/2015Confirmed
AFTAfrimat Ltd.05/08/2015Confirmed

Stock Exchange News Service
04/08/201517:45INDLUPLACE PROPERTIES LIMITED - Correction announcement: unaudited results for t...
04/08/201517:40BUFFALO COAL CORP - Fall of ground at Magdalena Mine
04/08/201517:30JSE LIMITED - Index Change Advice - Rebosis Property Fund Acquisition of Ascensi...
04/08/201517:10CONDUIT CAPITAL LIMITED - Change to the Board of Directors Resignation of Direc...
04/08/201516:55BUSINESS CONNEXION GROUP LIMITED - Business Connexion/Telkom SA - Joint update a...
04/08/201516:52FORTRESS INCOME FUND LIMITED - Dealing in securities by a director of Fortress
04/08/201516:46MERCEDES-BENZ SOUTH AFRICA LIMITED - MBF040- Full Capital Redemption
04/08/201516:07LIFE HEALTHCARE GROUP HOLDINGS LTD - Dealing in securities by the Life Healthcar...
04/08/201515:55TRENCOR LIMITED - Trading statement
04/08/201515:45EQUITES PROPERTY FUND LIMITED - Dealing in securities by an associate of a direc...
04/08/201515:20THE SPAR GROUP LIMITED - Exercise of options by a director
04/08/201514:45OLD MUTUAL PLC - Form 8.3 - Public Opening Position Disclosure
04/08/201514:15FIRSTRAND BANK LIMITED - FRC205-Partial Redepmtion
04/08/201514:08CAPITEC BANK HOLDINGS LIMITED - General Repurchase of an additional 3% non-redee...
04/08/201514:07JUBILEE PLATINUM PLC - Statement regarding share price movement on AIM
04/08/201513:45INVESTEC AUSTRALIA PROPERTY FUND - Results of Annual General Meeting
04/08/201513:05OLD MUTUAL PLC - Form 8.3 Disclosure
04/08/201512:55KAGISO SIZANANI CAPITAL LTD (RF) - Listing of a new financial instrument KSB009
04/08/201512:30SABMILLER PLC - Directors Dealings in Securities
04/08/201512:18BSI STEEL LIMITED - Dealing in securities
04/08/201512:00ESOR LIMITED - Notification in Terms of Section 122(3) of the Companies Act and ...
04/08/201511:43FIRSTRAND BANK LIMITED - FRC184-Full Capital Redemption
04/08/201511:30SUPER GROUP LIMITED - Notice of General Meeting and Distribution of the Circular...
04/08/201511:21INVICTA HOLDINGS LIMITED - Directors dealing in securities
04/08/201511:05HARMONY GOLD MINING COMPANY LIMITED - Fatality at Harmonys Kusasalethu mine
04/08/201510:55INDWA INVESTMENTS LIMITED - INA533 - Full Capital Redemption
04/08/201510:30EMIRA PROPERTY FUND LIMITED - Appointment of Chief Executive Officer
04/08/201510:10CALGRO M3 HOLDINGS LIMITED - Notification in terms of section 122(3) of the Comp...
04/08/201510:00REDEFINE INTERNATIONAL PLC - Changes to the board
04/08/201509:47NEWFUNDS COLLECTIVE INVEST SCHEME - Additional Listing of NewFunds S&P GIVI Sout...
04/08/201509:45FIRSTRAND BANK LIMITED - Accrued Interest on the FirstRand Gold Bond
04/08/201509:30TOYOTA FIN SERVICES (SA) LTD - Release of Guarantor Annual Financial Statements ...
04/08/201509:30BARLOWORLD LIMITED - BAW15-Interest Rate Reset
04/08/201509:25THE SPAR GROUP LIMITED - Dealing in securities by The SPAR Group Limited Employe...
04/08/201509:15BIDVESTCO LIMITED - BIDC47 - Full Capital Redemption
04/08/201509:00ADCORP HOLDINGS LIMITED - Dealing in securities by director and his associate
04/08/201508:35BASIL READ HOLDINGS LIMITED - Trading statement
04/08/201508:02OLD MUTUAL PLC - Nedbank Group Condensed Consolidated Interim Financial Results...
04/08/201508:01NEDBANK LIMITED1 - Condensed Consolidated Interim Financial Results for the six...
04/08/201508:00NEDBANK GROUP LIMITED - Condensed Consolidated Interim Financial Results for the...
04/08/201507:30MERAFE RESOURCES LIMITED - Reviewed Interim Results for the six months ended 30 ...
04/08/201507:05ROYAL BAFOKENG PLATINUM LIMITED - Condensed Consolidated Interim Results for the...
04/08/201507:05ANGLOGOLD ASHANTI LIMITED - Completes sale of CC&V

Click here for more SENS news