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S.African rand firms on risk appetite, stocks gain
 The Sharenet Daily 
Wednesday, 06 April 2011 - 20:00
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S.African rand firms on risk appetite, stocks gain

By Stella Mapenzauswa and Ed Stoddard

JOHANNESBURG (Reuters) - South Africa's rand tested a fresh 3-month high against the dollar on Wednesday on renewed global appetite for risk and government bonds followed suit, pushing yields particularly on longer-dated paper sharply lower.

The benchmark blue chip share index rose to its highest in more than six weeks, notching its fourth straight day of gains with gold miners the best performers on a rampant bullion price.

The yield on the 2015 bond fell four basis points to 7.705 percent while that for the longer-dated 2026 bond was down seven basis points at 8.715 percent.

"It's a rand story really, that's what's driving the debt market," said a Johannesburg bond trader, singling out increased interest in local debt from foreign investors after a sharp sell-off at the start of the year.

The rand traded 0.56 percent firmer at 6.6905 to the dollar by 1547 GMT compared with Tuesday's close at 6.7280. The currency tested 6.68 earlier on Wednesday, its strongest level since January 4 according to Reuters data.

"There are no local factor behind these moves - it's all euro/dollar and risk appetite-driven," said Gabor Ambrus, emerging market analyst at 4CAST.

The euro -- whose moves the rand tends to track due to South Africa's close trading ties with the euro zone -- rose to its highest in more than a year against the dollar ahead of an expected ECB rate hike.

"I think a temporary reversal is possible after tomorrow's ECB meeting, but a more lasting reversal would need U.S. equities to correct. I'm not sure when the market will make that reality check," Ambrus said.

Johannesburg's Top-40 blue chip index added 0.79 percent to 29,654.56 points, a level last seen on February 17, 2010. The broader All-share index rose by the same margin to 32,887.47.

"The mood seems to improving in this week," one trader said. "There are growing views that perhaps the sell-off last month was a little bit overdone."

The benchmark blue chip index hit the lowest level since November in mid-March on Japan's disaster, Middle East unrest and worries that assets had become too expensive.

On Wednesday, main gold counters sparkled as bullion's spot price powered to record highs over $1,460.00 an ounce.

AngloGold Ashanti, Africa's largest gold producer, ended 2.04 percent higher at 338 rand. Rival Gold Fields was 2.28 percent firmer at 123.50 rand.

Harmony Gold, which has been gaining because of bullish sentiment about its project in Papua New Guinea, was 3.15 percent higher at 103.25 rand, near two-year highs.

Gains were however capped by rand strength.

Basil Read <BSRJ.J jumped 5.57 percent to 12.50 rand after the builder said it has jointly won a contract that boosts its order book by 1.5 billion rand.

Wed, 06 Apr 2011
Top News
[IMAGE]
South African power utility Eskom said on Wednesday it would auction up to 300 million rand of its 2023 ES23 bond on April 13.  Full story

[IMAGE]
South Africa's coal exports rose to 5.36 million tonnes in March from 4.57 million tonnes the previous month, Richards Bay Coal Terminal (RBCT) data showed on Wednesday.  Full story
Japan began pumping nitrogen gas into a crippled nuclear reactor, refocusing the fight against the world's worst nuclear disaster in 25 years on preventing an explosive buildup of hydrogen gas at Fukushima Daiichi power plant.  Full story
Forces loyal to Ivory Coast presidential claimant Alassane Ouattara launched a heavy attack on Wednesday on the bunker where Laurent Gbagbo is holed up but appeared to have been repelled, a Western military source said.  Full story
Libyan rebels regained ground in a new advance on an oil port Wednesday but accused NATO of inaction hindering their quest to oust Muammar Gaddafi.  Full story
 
Markets
Gold rose to an all-time high for a second straight day on Wednesday, as the U.S. dollar weakened ahead of an expected interest. . .  Full story
The S&P 500 paused near a seven-week high on low volume on Wednesday before the start of earnings reports next week, which investors. . .  Full story
European stocks rose on Wednesday, adding to their three-week rally as investors looked beyond the European Central Bank's expected rate rise, brushing aside Portugal's. . .  Full story
Banks helped drive Britain's top shares to a near seven-week high on Wednesday following a Portuguese debt auction, while Marks & Spencer rose. . .  Full story

Australian stocks rose 0.3 percent to close at a fresh six-week high in a session of erratic trading, with top global miner BHP. . .  Full story
The S&P 500 failed to break a key technical resistance level for a second day on Tuesday as low trading volume raised further. . .  Full story
Prices of spot gold notched a record high on Tuesday as a downgrade of Portugal's debt stirred a bid for safety, while Brent. . .  Full story
Gold jumped to an all-time high above $1,450 an ounce on Tuesday, as peak crude and corn prices fanned inflation fears and a. . .  Full story
SA Business
South Africa's Investec said on Wednesday it aims to list a 1.7 billion rand property fund on the Johannesburg bourse on. . .  Full story
Maize deliveries to South African silos rose to 11.907 million tonnes in the week to April 1, from 11.894 million tonnes. . .  Full story
South African power utility Eskom said on Wednesday it was in talks with Vunene Mining to secure a five-year coal supply. . .  Full story
South African gold miner DRDGold said on Wednesday that it expected gold production for March quarter to be about three percent. . .  Full story

South Africa's rand advanced to fresh 3-month highs against the dollar on Wednesday and may extend those gains further due to. . .  Full story
South Africa's gold mining stocks powered higher on Wednesday after the precious metal scaled a new record on Tuesday and remained. . .  Full story
Standard Bank Argentina said on Tuesday that it launched $24 million in bonds due in 2012 as part of a $250. . .  Full story
South Africa's state pension fund Public Investment Corporation (PIC) has expressed its concern about Freeworld Coatings' handling of the takeover offer. . .  Full story

South African insurer Sanlam will invest in medical insurance businesses in Tanzania and Zambia this year as part of a growth strategy to find ways to put its 4 billion rand in excess capital to use, Business Day newspaper reported on Wednesday.. . .  Full story
Company News
Pursuant to an ELB board decision to restructure an ELB Executive Bonus Scheme and having obtained approval from the requisite number. . .  Full story
Shareholders are advised that the annual financial statements have been distributed to shareholders on 31 March 2011 and contain no modifications. . .  Full story
DRDGOLD announced that it expects its group gold production for the quarter ended 31 March 2011 to be about 3% lower. . .  Full story
Anglo announced that 606 000 ordinary shares were transferred from treasury shares on 4 April 2011, in respect of the grant. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0032887.47256.610.79%
JSE Top 4017:0029654.56232.660.79%
JSE Gold17:002851.4063.762.29%
JSE Financial17:0021979.69140.140.64%
JSE Industrial17:0032507.80198.770.62%
JSE Indust 2517:0027205.05147.780.55%
JSE Resource17:0058771.64573.320.99%
DJ Futures19:4612370.0045.000.37%
DJ Ind19:3212420.8526.950.22%
SP 50018:581331.81-0.82-0.06%
Nasdaq18:582788.57-2.62-0.09%
FTSE 10017:356041.1334.070.57%
DAX18:027215.1139.800.55%
CAC4017:464048.1610.570.26%
Nikkei08:269584.37-31.18-0.32%
Shanghai09:363001.2334.231.15%
Hang-Seng10:3424285.05134.470.56%
All Ords08:565011.4012.800.26%
NZSE 5007:263449.88-19.50-0.56%
NameTimeRPMove% Move
Gold19:591458.001.310.09%
Gold/Rand19:579743.72-49.86-0.51%
Gold/R kg19:5631322834591.12%
Silver19:5939.4000.11700.30%
Platinum19:591788.753.000.17%
Palladium19:59780.75-6.13-0.78%
R15717:067.70-.02-0.26%
R20416:068.38-.05-0.59%
Brent Crude19:56121.55-1.04-0.85%
Rand / Dollar19:596.6840-0.0401-0.60%
Rand / Pound19:5510.8828-0.0433-0.40%
Rand / Euro19:559.57800.01620.17%
Rand / NZD19:585.20450.04560.88%
Rand / AUD19:556.97530.03080.44%
Yen / Dollar19:5985.31000.22000.26%
Euro / Dollar19:550.6976-0.0056-0.80%
Dollar / Euro19:581.43300.01090.77%
Pound / Dollar19:550.6121-0.0014-0.23%

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The JSE Today
Trading Statistics
DateAdv.Decl.Unch.ActivesVolumeValueTradesOrders
06/04/201124210970421290,764,685R13,563,693,7541065651929190
05/04/201121913278429251,736,945R10,438,929,290785281807082
04/04/201119714573415219,118,881R9,816,034,274899511694363
01/04/201119713479410277,172,298R13,076,166,3421068852036488
31/03/201119015090430316,957,351R16,910,187,8321217971961542

Major Moves Up
SharenameSaleMove% MoveVolume
1 PLATMIN  6608013.79.%69200
2 SACOIL  1982011.24.%2973279
3 KAP  250208.70.%231799
4 BRIMST-N  695507.75.%64000
5 EASTPLATS  1000626.61.%77728
6 HUGE  14996.43.%5000
7 ONELOGIX  13586.30.%46000
8 VALUE  360205.88.%11400
9 GBGOLD  18841045.84.%18000
10 UNIVERSAL  185105.71.%30000
11 BASREAD  1250665.57.%191524
12 RMBH  29281495.36.%1353238
13 RANGOLD  288134.73.%153860
14 RAUBEX  1965814.30.%361885
15 AFRIMAT  350144.17.%243056
16 COAL  989394.11.%411752
17 MIXTEL  13054.00.%1258092
18 WITSGOLD  54002013.87.%7702
19 BARWORLD  76052753.75.%1925298
20 LEWIS  78142813.73.%798313

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Major Moves Down
SharenameSaleMove% MoveVolume
1 OANDO  286-39-12.00.%11828
2 COMAIR  210-15-6.67.%1710
3 PBT  125-7-5.30.%10329
4 GRANPRADE  320-15-4.48.%40500
5 PINNACLE  667-28-4.03.%310358
6 GOLDREEF  1582-48-2.94.%13926
7 HOSP-B  816-24-2.86.%5700
8 AMA  184-4-2.13.%147696
9 SPURCORP  1341-29-2.12.%1400
10 ALTRON  2603-51-1.92.%14841
11 AVUSA  2456-44-1.76.%13497
12 CADIZ  280-5-1.75.%751017
13 SENTULA  285-5-1.72.%500654
14 PAN-AF  115-2-1.71.%2909946
15 EHSV  6880-109-1.56.%43664
16 ADCORP  2700-40-1.46.%3800
17 ELLIES   206-3-1.44.%8012
18 YORK  355-5-1.39.%365526
19 DCENTRIX  498-7-1.39.%237929
20 BAUBA  217-3-1.36.%800

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New Highs
SharenameSaleHighMove% MoveVolume
1 UNIVERSAL  185185105.71.%30000
2 RMBH  292829281495.36.%1353238
3 LIFEHC  16381665382.38.%5185154
4 GOLDONE  31431472.28.%562065
5 SASOL  40201402368162.07.%3725647
6 AECI  858187901311.55.%210937
7 MONDIPLCP  66016620650.99.%757305
8 EXXARO  1722517499-105-0.61.%990632

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New Lows
SharenameSaleLowMove% MoveVolume
1 DELTA  795740-5-0.63.%5283

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Index Summary
Index NameRPMove% Move
Top 4029,654.56232.660.79%
Industrial32,507.80198.770.62%
Mid Cap41,967.10328.970.79%
Small Cap32,324.08187.800.58%
Resource 2058,771.64573.320.99%
Industrial 2527,205.05147.780.55%
Financial 158,363.5958.810.71%
Financial & Ind. 3030,697.00174.670.57%
All Share32,887.47256.610.79%
Oil & Gas 30,478.89625.052.09%
Mining 38,369.13325.110.85%
Gold Mining2,851.4063.762.29%
Platinum Mining76.76.901.19%
Oil & Gas Producers 16,387.94336.082.09%
Basic Materials 32,363.59260.010.81%
Chemicals 13,523.66120.330.90%
Forestry & Paper 14,792.57185.451.27%
Industrial Metals 31,044.94-130.85-0.42%
Industrials 28,102.78213.690.77%
General Industrials 77,285.15519.910.68%
Consumer Goods 26,442.3791.650.35%
Automobiles & Parts 3,147.60.000.00%
Household Goods160.9121.32%
Health Care 31,794.95476.831.52%
Beverages 84,141.47-437.40-0.52%
Food Producers 47,409.80267.890.57%
Index NameRPMove% Move
Personal Goods 391.915.391.39%
Consumer Services 53,883.34468.480.88%
General Retailers 41,655.80317.150.77%
Travel & Leisure 3,621.94-13.05-0.36%
Media 84,002.521479.501.79%
Support Services 2,436.64-2.76-0.11%
Telecommunications 67,374.53406.360.61%
Financials 21,979.69140.140.64%
Banks 41,691.28239.650.58%
Non-life Insurance 31,038.84-123.67-0.40%
Life Insurance 16,504.72174.751.07%
General Financial 2,322.3611.500.50%
Technology 20,873.16-18.61-0.09%
SHARIAH TOP40 3,364.17300.91%
FTSE/JSE SHARIAH ALL3,414.16310.91%
COAL MINING23,537.09-118-0.50%
FTSE JSE Fledgling 4,537.36370.82%
FTSE/JSE Alt X 1,020.4020.15%
SA LISTED PROPERTY 370.160.51%
CAPPED PROPERTY 307.850.37%
RESOURCE 32,450.403281.02%
DIVIDEND PLUS170.1810.58%
FTSE/JSE RAFI 406,904.03530.77%
Capped Top 4015,430.251250.82%
Capped All Share16,539.641310.80%

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Latest Consensus Changes**
CodeCompany NameStatusUpdated
FPTFOUNTAINHEAD PROP TRSTHOLD01 Apr
ACPACUCAP PROPERTIES LIMITEDHOLD01 Apr
SOLSASOL LIMITEDBUY01 Apr
SHFSTEINHOFF INTERNATIONAL H...BUY31 Mar
EQSEQSTRA HOLDINGS LTDSELL31 Mar
Results Expected**
ExpectedCompany NameFin. Date
08 Apr 2011PHUMELELAJanuary 2011 (Interim)
12 Apr 2011PBTFebruary 2011 (Interim)
12 Apr 2011WOLTRU6.75February 2011 (Interim)
12 Apr 2011WOOLTRU 6%February 2011 (Interim)
12 Apr 2011WOOLTRU-NFebruary 2011 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
NAIL11-04-0511-04-1911-05-03R 0.1760
NAIL -N-11-04-0511-04-1911-05-03R 0.1760
SBR00311-04-0511-04-1911-05-05R 1.4100
NTC PREF11-04-0111-04-1911-05-03R 3.4161
TELEMASTR11-04-0111-04-1911-05-03R 0.0400
Ex Div**
Share NameDec-DateLDTPay-DateAmount
SASOL11-03-0711-04-0111-04-11R 3.1000
EXXARO11-02-2411-04-0111-04-11R 3.0000
NEDBANK11-02-2811-04-0111-04-11R 2.6800
STANBANK11-03-0311-04-0111-04-11R 2.4500
MVELAGP-P11-03-1711-04-0111-04-11R 0.3003

Upcoming AGMs**
CodeCompany NameDateStatus
RNGRandgold - Exploration Co Ltd06/04/2011Confirmed
MMHMiranda Mineral Holdings Ltd07/04/2011Confirmed

Stock Exchange News Service
DateTimeHeadline
06/04/201117:16 Nictus Limited - Trading statement
06/04/201117:15 Old Mutual Plc - Notification of transactions of directors, persons
06/04/201117:07FCPD - Foord Compass Limited - Net attributable asset value of 762.7 cents
06/04/201117:00 African Rainbow Minerals Limited - Director`s dealings in ARM securities
06/04/201116:59 Resilient Property Income Fund Limited - No change statement and notice of
06/04/201116:58 Capital Property Fund - No Change Statement
06/04/201116:26 Distell Group Limited - Dealings in securities by company secretary
06/04/201115:35 KayDav - Dealing in securities
06/04/201115:30 Andulela Investment Holdings Limited - Update on the acquisition by
06/04/201115:19 Exxaro Resources Limited - Trading of Exxaro ordinary
06/04/201115:06HPA/HPB - Hospitality Property Fund Limited - Acquisition of the Westin Grand
06/04/201114:59 Pinnacle - Dealing in securities by director
06/04/201114:57 Basil Read Holdings Limited- Voluntary Business Update
06/04/201114:55 Nedbank Group - Dealing in Securities by Non-executive Director
06/04/201114:45 Anooraq Resources Corporation - Anooraq announces CEO transition
06/04/201114:00IPF - Investec Property Fund Limited - Abridged pre-listing statement
06/04/201113:28ELR/ELRP - ELB Group Limited - Transfer of Treasury Shares
06/04/201113:21 Resilient - Dealing in Securities
06/04/201113:19 Bell Equipment Limited - Acceptance of options by director
06/04/201113:18 Bell Equipment Limited - No change statement and notice of Annual General
06/04/201113:15INVS - Investec Bank Limited - Name change announcement on Anglo Platinum
06/04/201112:55 Pinnacle Technology Holdings Limited - Appointment of Company Secretary
06/04/201112:47 Randgold & Exploration Company Limited - Results of the Annual General
06/04/201112:32 Old Mutual Plc - Notification of Transactions Of Directors, Persons
06/04/201112:31 Old Mutual plc - Notification of transactions of directors, persons
06/04/201112:30 Old Mutual plc - Notification of transactions of directors, persons
06/04/201111:29ZGOVI - ZSHARES GOVI - Listing of additional ZGOVI participatory interests
06/04/201110:35 Zeder Investments Limited - Recurring headline earnings
06/04/201109:17SCIB: SHPSBQ - The Standard Bank of South Africa Limited - Issue of stock
06/04/201108:49GEN - General - SAH - South African Coal Mining Holdings Limited - Emphasis of
06/04/201108:30 Sappi limited - Sappi Prices US$705 Million multi-currency Senior Secured
06/04/201108:00 DRDGOLD Limited - DRDGOLD Guidance for March 2011 Quarter
06/04/201107:45 Stefanutti Stocks Holdings Limited - Renewal of cautionary announcement
06/04/201107:15 Anglo American plc - Treasury shares - transfers
06/04/201107:10 British American Tobacco p.l.c - Transaction in own shares

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