Having trouble reading this email? View in your web browser
 The Sharenet Daily 
Wednesday, 24 August 2016 - 20:04
 
Charts
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)


Charts
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

 
Todays Sharenet VIEWS
Seed Investments
Equity markets have been characterised by increased volatility in the recent past. Associated with this is the short-term underperformance in the markets, which investors are nervous about especially with more uncertainty going forward. Figure 1 below illustrates how market underperformance and increased volatility have historically been associated using the FTSE/JSE All Share Index returns data. Figure 1: Rolling 1 Year Return & Rolling 1 Year Standard Deviation of the FTSE/JSE All Share...  Full story
Seed Weekly - Qui legit, adtendite: Let the reader beware

This article is rather paradoxical in that I am writing of the need to be circumspect about accepting everything that you read as fact.

The following email that I received highlights the issue of perspective:

A biker is riding by the zoo in Washington, DC when he sees a little girl leaning into the lion's cage. Suddenly, the lion grabs her by the collar of her jacket and tries to pull her inside to slaughter her, under the eyes of her screaming parents.

He jumps off his bike, runs to the cage and hits the lion square on the nose with a powerful punch.

Whimpering from the pain the lion jumps back, letting go of the girl, and the biker brings the girl to her terrified parents, who thank him endlessly. A reporter has watched the whole event.

The reporter, addressing the biker says, 'Sir, this was the most gallant and bravest thing I've seen a man do in my whole life.'

The biker replies, 'Why, it was nothing, really. The lion was behind bars. I just saw this little kid in danger, and acted as I felt right.'

The reporter says, 'Well, I'll make sure this won't go unnoticed. I'm a journalist, you know, and tomorrow's paper will have this story on the front page. So, what do you do for a living?'

The biker replies "I'm a U.S. Marine, and a volunteer for the Republican party.”

The following morning the biker buys the paper and reads, on the front page:

“U.S. MARINE ASSAULTS AFRICAN IMMIGRANT AND STEALS HIS LUNCH”

We can see that the perspective, pet hates and prejudices of a writer are very important, these determine which facts are left in the story, which facts are left out and which facts are emphasised.

Hindsight bias” is another problem a reader often faces. When writing an article, a writer has all the facts about what happened and why it happened in front of him. In his book “Fooled by Randomness”, Nassim Taleb says that “A more vicious effect of hindsight bias is that those who are very good at predicting the past will think of themselves as very good at predicting the future…”. Whilst looking at the past can help us understand why things happened, the future remains unpredictable so take all predictions with a pinch of salt.

The last problem that I often have with financial articles as a financial advisor, is that the writer is often expressing an opinion on a very limited set of facts and he does not have to sit with the consequences of “unbundling” a long term plan when he changes his mind a year or two down the line.

I am the first person to emphasise the importance of reading to broaden your horizons and acquire new knowledge, I do however think that it is important to add a proviso “Qui legit, adtendite: Let the reader beware”.

Think carefully about what you are reading, think about the writers perspective and why he is writing what he is, and lastly a good rule of thumb is if the writer is making predictions / forecasts about what is going to happen in future, you can probably ignore what he has to say.

Kind regards,

Barry Hugo

***SEED IS HIRING: Click here to view vacancy

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

Please click here to view our disclaimer. For more information please visit our website.

Wed, 24 Aug 2016
Top News
[IMAGE]
South Africa's economy, the most developed on the continent, will be destroyed if President Jacob Zuma fires Finance Minister Pravin Gordhan, ex-finance minister Trevor Manuel said on Wednesday.  Full story

[IMAGE]
South Africa's PPC priced its 4 billion rand ($281.5 million) rights issue at a 55.5 percent discount on Wednesday as the cement maker fights for survival in the face of depressed domestic growth.  Full story
A powerful earthquake flattened mountain towns in central Italy on Wednesday, killing at least 73 people, burying some alive in their sleep under mounds of rubble, as exhausted volunteers and firefighters raced to free those still trapped.  Full story
Syrian rebels backed by Turkish special forces, tanks and warplanes entered one of Islamic State's last strongholds on the Turkish-Syrian border on Wednesday, in Turkey's first major U.S.-backed incursion into its southern neighbour.  Full story
French naval contractor DCNS said on Wednesday it may have been the victim of "economic warfare" after secrets about its Scorpene submarines being built in India were leaked.  Full story
 
SA Business
South African assets slumped further on Wednesday after Finance Minister Pravin Gordhan said he would not appear before police who had. . .  Full story
South African Finance Minister Pravin Gordhan will not present himself to police on Thursday as he had nothing further to say. . .  Full story
South Africa's headline inflation has settled near the upper end of the central bank's target band of between 3 and 6. . .  Full story
South Africa's rand tumbled to its weakest in a month and yields on bonds spiked on Wednesday after a special investigations. . .  Full story

South African assets slumped further on Wednesday after Finance Minister Pravin Gordhan said he would not appear before police who had requested him to. . .  Full story
South African engineering and construction group Murray and Roberts (M&R) said on Wednesday it was in talks to sell its infrastructure. . .  Full story
South Africa's Finance Minister Pravin Gordhan said on Wednesday he was under no obligation to present himself to police because he was not. . .  Full story
South Africa's Finance Minister Pravin Gordhan said on Wednesday that an investigative unit set-up while he was head of the tax. . .  Full story

South African engineering and building group Murray and Roberts (M&R) said on Wednesday it is in talks to sell its infrastructure and building business.. . .  Full story
South African assets slumped on Wednesday after an elite police unit summoned Finance Minister Pravin Gordhan over an investigation into a suspected rogue spy unit in the tax service, fuelling speculation that there was a plot to oust him.. . .  Full story
Company News
PPC has released quarter one results ending 30 June 2016 in order to support the rights offer process with up to. . .  Full story
Shareholders of PPC ("Shareholders") are referred to the Rights Offer declaration announcement by PPC, released on the Stock Exchange News Service. . .  Full story
Shareholders are advised that the voting results for the Annual General Meeting (˘AGM÷) of Telkom held at 10h00 on Wednesday, 24. . .  Full story
Shareholders are advised that Mr David Woollam has given notice to the company that he will not be available for re-. . .  Full story

Shareholders are referred to the announcement dated 30 June 2016 containing details of the Proposed Transaction and are hereby advised that. . .  Full story
Group revenue increased by 6%, from R2 278 million for the three months ended 30 June 2015 to R2 425 million. . .  Full story
Shareholders of PPC (Shareholders) are advised that the company has finalised its audited annual financial statements for the year ended 31. . .  Full story
Shareholders are advised that: * the companyĂs Integrated Annual Review and Annual Financial Statements (collectively ˘the Annual Report÷) in respect of. . .  Full story
Company Results
Revenue for the year ended 30 June 2016 shot up by 8% to R118.9 billion (2015: R110.5 billion). Operating profit came. . .  Full story
Revenue for the year lowered to R33.755 billion (2015: R43.930 billion). Gross earnings increased to R2.495 billion (2015: R2.364 billion), net. . .  Full story
Sale of merchandise grew 14.4% to R130.0 billion (2015: R113.7 billion). Gross profit was 15.8% higher at R27.2 billion (2015: R23.5. . .  Full story
Revenue for the year increased to R1.7 billion (2015: R1.4 billion). Operating profit grew by 42.5% to R157 million (2015: R110.1. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0053562.80605.001.14%
JSE Top 4017:0046858.57719.241.56%
JSE Gold17:002545.8667.012.70%
JSE Financial17:0041077.20-926.66-2.21%
JSE Industrial17:0079875.021500.241.91%
JSE Indust 2517:0071734.041545.702.20%
JSE Resource17:0032578.76895.272.83%
DJ Futures19:5818499.00-29.00-0.16%
DJ Ind20:0218520.34-26.96-0.15%
SP 50020:022182.44-4.46-0.20%
Nasdaq20:025247.31-12.77-0.24%
FTSE 10017:216826.91-41.60-0.61%
DAX18:0810622.9730.090.28%
CAC4018:084435.4714.020.32%
Nikkei08:4816597.3099.940.61%
Shanghai09:323085.88-3.83-0.12%
Hang-Seng10:2822820.78-178.15-0.77%
All Ords08:385653.606.500.12%
NZSE 5009:107410.30-57.03-0.76%
NameTimeRPMove% Move
Gold $20:041325.79-11.51-0.86%
Gold R20:0318786.8574.280.40%
Gold R/kg20:0260375721480.36%
Silver $20:0418.5440-0.2350-1.25%
Platinum $20:041078.43-21.07-1.92%
Palladium $20:04682.59-13.91-2.00%
R18617:089.050.455.23%
R20417:078.000.354.51%
R20717:078.240.405.17%
Brent Crude19:5849.00-0.16-0.33%
USD / ZAR20:0414.16560.17281.23%
GBP / ZAR20:0018.71910.27311.48%
EUR/ ZAR20:0015.95400.13280.84%
NZD/ ZAR20:0310.36520.15821.55%
AUD / ZAR20:0010.79060.12651.19%
USD / JPY20:04100.48200.28400.28%
EUR / USD20:041.1260-0.0043-0.38%
GBP / USD20:041.32330.00350.26%

Click here for the Sharenet Spot Price page
The JSE Today

Trading Statistics
DateAdv.Decl.Unch.ActivesVolumeValueTradesOrders
24/08/201617618852416402,858,005R36,962,273,581422301727893
23/08/201618615964409239,403,994R19,392,835,1482834252237650
22/08/201613920064403190,479,330R15,788,853,0312549942094546
19/08/201615519355403264,027,989R20,371,542,1802954692212590
18/08/201622511655396221,587,157R20,367,551,4312495442103732
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 CAT  149918714.25.%10546
2 ARB  5806512.62.%161538
3 WORKFORCE  1802012.50.%1965306
4 BELL  1149999.43.%15600
5 EFFICIENT  600509.09.%1800
6 KIBO  10999.00.%3931
7 SAPPI  72495748.60.%4976315
8 NIVEUS  31302307.93.%13628
9 ALTRON-P  580427.81.%34352
10 NVEST  300207.14.%100371
11 WESCOAL  181116.47.%134000
12 AVENG  562315.84.%1724442
13 DIAMONDCP  12775.83.%9747
14 SABMILLER  8200042595.48.%2874091
15 SANTOVA  425225.46.%89388
16 ATLEAF  1840905.14.%21000
17 NET1UEPS  149006884.84.%270
18 BIDCORP  2650012194.82.%1532747
19 MAS  1800804.65.%1173613
20 ANGGOLD  2584110664.30.%2344165

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 MAZOR  141-29-17.06.%400
2 Cognition  120-13-9.77.%22500
3 DELTA  110-9-7.56.%11492
4 RANGOLD  220-17-7.17.%81525
5 REDEFINE  1113-66-5.60.%12369934
6 STANBANK  14060-829-5.57.%13588883
7 ISA  103-6-5.50.%50940
8 FIRSTRAND  4675-271-5.48.%40713900
9 SPAR  19650-1125-5.42.%2673163
10 B-AFRICA  15500-840-5.14.%6254272
11 FINBOND  285-15-5.00.%21431
12 SOVFOOD  832-43-4.91.%380864
13 GROWPNT  2612-132-4.81.%15452153
14 TRNSHEX  377-18-4.56.%13844
15 STEFSTOCK  420-20-4.55.%32922
16 TRADEH  2501-119-4.54.%15160
17 PICKNPAY  7750-365-4.50.%5435293
18 TFG  14600-687-4.49.%3538840
19 NEDCOR  21300-933-4.20.%2709347
20 VUKILE  1775-76-4.11.%847465

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 WORKFORCE  1801802012.50.%1965306
2 HOSP-B  380380154.11.%470088
3 SOUTH32  21842200844.00.%335275
4 NASPERSN  24017424167476813.30.%2161877
5 HOMCHOICE  360036001002.86.%750
6 ADVTECH  16101620-6-0.37.%502647

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 FINBOND  285285-15-5.00.%21431

Click here for more Major Moves...

Index Summary
Index NameRPMove% Move
Top 4046,858.57719.241.56%
Industrial79,875.021500.241.91%
Mid Cap79,346.53-632.28-0.79%
Small Cap61,581.25-358.27-0.58%
Resource 2032,578.76895.272.83%
Industrial 2571,734.041545.702.20%
Financial 1514,948.59-378.93-2.47%
Financial & Ind. 3073,930.811053.331.45%
All Share53,562.80605.001.14%
Oil & Gas 7,195.69.000.00%
Mining 24,522.88640.322.68%
Gold Mining2,545.8667.012.70%
Platinum Mining27.89.321.16%
GENERAL MINING5,992.91170.042.92%
Oil & Gas Producers 38,689.88.000.00%
Basic Materials 23,147.30595.512.64%
Chemicals 19,847.98334.531.71%
Forestry & Paper 51,714.611867.933.75%
Industrial Metals 10,249.9547.520.47%
Industrials 47,647.02-778.85-1.61%
General Industrials 184.06-3.37-1.80%
Consumer Goods 74,456.532686.213.74%
Automobiles & Parts 4,279.83-97.37-2.22%
Household Goods638.2440.70%
Health Care 9,865.99-50.33-0.51%
Beverages 279.0714.235.37%
Index NameRPMove% Move
Food Producers 9,709.94-39.36-0.40%
Personal Goods 863.6330.963.72%
Consumer Services 19,606.72308.121.60%
General Retailers 7,862.64-255.72-3.15%
Travel & Leisure 6,647.71-96.88-1.44%
Media 522.6716.873.34%
Support Services 2,087.4143.232.11%
Telecommunications 6,970.06-96.34-1.36%
Financials 41,077.20-926.66-2.21%
Banks 6,999.39-378.29-5.13%
Non-life Insurance 56,148.86-893.27-1.57%
Life Insurance 37,125.72-312.34-0.83%
General Financial 3,973.11-25.17-0.63%
Technology 54,006.92-300.29-0.55%
SHARIAH TOP40 3,201.17451.44%
FTSE/JSE SHARIAH ALL3,590.36361.00%
COAL MINING10,193.05970.96%
FTSE JSE Fledgling 7,278.34190.26%
FTSE/JSE Alt X 1,398.36151.11%
SA LISTED PROPERTY 648.59-16.91-2.54%
CAPPED PROPERTY 549.15-1.33%
RESOURCE 18,469.194752.64%
DIVIDEND PLUS206.78-4-1.78%
FTSE/JSE RAFI 409,710.56600.62%
Capped Top 4024,910.112891.18%
Capped All Share27,303.202520.93%
JSE TABACO 11,510.264564.12%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
AGLANGLO AMERICAN PLCSELL22/08/2016
GFIGOLD FIELDS LIMITEDHOLD22/08/2016
TRUTRUWORTHS INTERNATIONAL L...BUY22/08/2016
SBKSTANDARD BANK GROUP LIMIT...SELL19/08/2016
BGABARCLAYS AFRICA GRP LTDHOLD19/08/2016
Results Expected**
ExpectedCompany NameFin. Date
25/08/2016ARBJune 2016 (Final)
25/08/2016GRINDRODJune 2016 (Interim)
25/08/2016GRINDROD PREFJune 2016 (Interim)
25/08/2016ILIADJune 2016 (Interim)
25/08/2016ILIADAJune 2016 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
TRNPACO23/08/1613/09/1619/09/16ZAR 0.9800
SHOPRIT23/08/1606/09/1612/09/16ZAR 2.9600
IMPERIAL23/08/1620/09/1626/09/16ZAR 4.2500
IMPERIALP23/08/1620/09/1626/09/16ZAR 4.2578
ADVTECH22/08/1606/09/1612/09/16ZAR 0.1350
Ex Div**
Share NameDec-DateLDTPay-DateAmount
MASONITE10/08/1623/08/1629/08/16ZAR 30.0000
FIRSTRANDB-P01/08/1623/08/1629/08/16ZAR 3.9472
MTN GROUP05/08/1623/08/1629/08/16ZAR 2.5000
TOWER04/08/1623/08/1629/08/16ZAR 0.4682
NEDBANK-P01/08/1623/08/1629/08/16ZAR 0.4275

Upcoming AGMs**
CodeCompany NameDateStatus
TKGATelkom SA SOC Ltd.24/08/2016Confirmed
TKGBTelkom SA SOC Ltd.24/08/2016Confirmed
TKGTelkom SA SOC Ltd.24/08/2016Confirmed
GDNGooderson Leisure Corporation Ltd.24/08/2016Confirmed
RDIRockwell Diamonds Inc.24/08/2016Confirmed

Stock Exchange News Service
DateTimeHeadline
24/08/201617:50BEIGE HOLDINGS LIMITED - Results of Scheme Meeting of Shareholders
24/08/201617:50PPC LIMITED - Results Presentation for Reviewed Condensed Consolidated Results f...
24/08/201617:30GAIA INFRASTRUCTURE CAPITAL LIMITED - Dealing In Gaia Shares By An Associate Of ...
24/08/201617:30PPC LIMITED - Final terms of a fully underwritten rights offer of ZAR 4 billion
24/08/201617:29enX GROUP LIMITED - Abridged revised listing particulars, posting of circular, ...
24/08/201617:25MONDI PLC - Notification of Major Interests in Shares
24/08/201617:20TELKOM SA SOC LIMITED - Results of Annual General Meeting
24/08/201617:20ASCENSION PROPERTIES LIMITED - TRP121: Notification of an acquisition of benefic...
24/08/201617:04TRANSACTION CAPITAL LIMITED - Changes to the Board of Directors and Committees
24/08/201617:00THE FOSCHINI GROUP LIMITED - Director Dealing in Securities
24/08/201617:00EQSTRA HOLDINGS LIMITED - Posting of circular and notice of general meeting
24/08/201617:00MAS REAL ESTATE INC - Disposal of shares in Sirius
24/08/201616:51HULAMIN LIMITED - Appointment of non-executive director
24/08/201616:51PPC LIMITED - Reviewed Condensed Consolidated Financial Statements for the quart...
24/08/201616:50PPC LIMITED - Audited Abridged Financial Statements and Audit Opinion for the si...
24/08/201616:26MURRAY & ROBERTS HOLDINGS LIMITED - Provisional report for the year ended 30 Jun...
24/08/201616:07WINHOLD LIMITED - Renewed Cautionary Announcement
24/08/201616:06RARE HOLDINGS LIMITED - Results Of The Scheme Meeting
24/08/201616:00INTERNATIONAL HOTEL GROUP LIMITED - Appointment of new auditor, amendment to the...
24/08/201615:56PLATFIELDS LIMITED - Renewal of Cautionary Announcement
24/08/201615:50TRANSNET SOC LIMITED - Transnet TN30 bond tap issue
24/08/201615:40NIVEUS INVESTMENTS LIMITED - Update On Disposal Of KWVs Operational Assets
24/08/201615:30METAIR INVESTMENTS LIMITED - Directors dealings in securities
24/08/201615:00DENEB INVESTMENTS LIMITED - No Change Statement And Notice Of Annual General Mee...
24/08/201615:00SEPHAKU HOLDINGS LIMITED - No change statement and notice of annual general meet...
24/08/201614:58IVUZI INVESTMENTS LIMITED - IVA647-Listing of New Instruments
24/08/201614:40EASTERN PLATINUM LIMITED - Update Announcement To Condensed Interim Consolidated...
24/08/201614:12FIRSTRAND BANK LIMITED - Redemption of Krugerrand Custodial Certificates
24/08/201613:59FIRSTRAND BANK LIMITED - FRBI28-Listing of Tap Issue
24/08/201613:03RESILIENT REIT LIMITED - RES34-35- New Instrument Listing
24/08/201612:43ARB HOLDINGS LIMITED - Summarised audited consolidated results for the year ende...
24/08/201612:25TAWANA RESOURCES NL - Notice of change of interests of substantial holder
24/08/201612:15TAWANA RESOURCES NL - Change of Director's Interest
24/08/201612:00TRANSPACO LIMITED - Trp121: Notification of an acquisition of beneficial interes...
24/08/201612:00ALEXANDER FORBES GROUP HOLDINGS LIMITED - Changes to the board of directors: And...
24/08/201611:25SG ISSUER - Final valuation notice
24/08/201611:11SYNTHESIS FUNDING LIMITED - New Financial Instrument Listing - SY1316
24/08/201611:09NEWPARK REIT LIMITED - Dealing in securities by an associate of a director
24/08/201610:16ARGENT INDUSTRIAL LIMITED - Changes To The Board
24/08/201610:10ARGENT INDUSTRIAL LIMITED - Dealing In Securities By Directors And Associate Of ...
24/08/201610:00THE SPAR GROUP LIMITED - The unwind of Spars 2009 Black Economic Empowerment Tra...
24/08/201610:00CENTRAL RAND GOLD LIMITED - Issue and Allotment of Ordinary Shares following Par...
24/08/201609:13TAWANA RESOURCES NL - Cleansing Notice and Appendix 3B
24/08/201609:00SABMILLER PLC - Rule 2.10 announcement
24/08/201608:44RBA HOLDINGS LIMITED - Update on business rescue process of the companies in bus...
24/08/201608:06GLENCORE PLC - 2016 Half-Year Report
24/08/201607:30WORKFORCE HOLDINGS LIMITED - Unaudited Condensed Interim Financial Results for t...
24/08/201607:30GLOBE TRADE CENTRE S.A. - Interim results for the six months period ended 30 Jun...
24/08/201607:18ABSA BANK LIMITED - ABN92 - Interest Rate Reset
24/08/201607:17ABSA BANK LIMITED - ACL082/ ACL083/ ACL084/ ACL086/ ACL087/ ACL139 and ACL141 -I...
24/08/201607:16ABSA BANK LIMITED - ACL203 - Interest Rate Reset
24/08/201607:15ABSA BANK LIMITED - ACL204- Interest Rate Reset
24/08/201607:15BLUE LABEL TELECOMS LIMITED - Results for the year ended 31 May 2016
24/08/201607:15HOSPITALITY PROPERTY FUND LIMITED - Condensed consolidated reviewed results & ca...
24/08/201607:11BID CORPORATION LIMITED - Reviewed Provisional Results for the year ended June 3...

Click here for more SENS news