Oil prices held close to $58 a barrel on Thursday, underpinned by fund buying as a cold snap in the United States stoked heating fuel demand and further OPEC production cuts looked set to trim supplies.
U.S. light crude for March delivery dipped 29 cents to $57.85 a barrel by 0445 GMT, after Wednesday's $1.17 jump that took gains for the week to over 4 percent. London Brent crude slipped 24 cents to $57.16 a barrel.
Prices have rebounded strongly from a 20-month low of $49.90 seen a fortnight ago as cold weather -- albeit late in the northern winter season -- helped to draw down U.S. distillate fuel stocks for the first time in nearly two months.
Read Full Article at Reuters South Africa
Wednesday, January 31, 2007
Dollar pressured by Fed, caution high before G7
The dollar was on the back foot on Thursday after the Federal Reserve said inflation pressures were likely to moderate, suggesting the U.S. central bank would not raise interest rates in the coming months.
Dollar sentiment also softened on growing wariness ahead of next week's meeting of financial officials from the Group of Seven industrialised nations in Germany.
The Japanese currency was supported against the dollar and euro as market players hedged against the risk of the G7 saying something about the yen's broad weakness, especially as European officials have said the issue would be discussed at the February 9-10 meeting.
Read Full Article at Reuters South Africa
Dollar sentiment also softened on growing wariness ahead of next week's meeting of financial officials from the Group of Seven industrialised nations in Germany.
The Japanese currency was supported against the dollar and euro as market players hedged against the risk of the G7 saying something about the yen's broad weakness, especially as European officials have said the issue would be discussed at the February 9-10 meeting.
Read Full Article at Reuters South Africa
Dow jumps after Fed soothes rate-hike worries
U.S. stocks rallied on Wednesday, driving the Dow to a record intraday high after the Federal Reserve held rates steady and flagged no new concerns about inflation, signalling that a rate hike this year was less likely.
Shares of banks and home builders -- companies sensitive to interest-rate increases -- climbed, while U.S. Treasury bond yields fell after the Fed announced its decision to keep the fed funds rate at 5.25 percent, as expected.
Read Full Article at Reuters South Africa
Shares of banks and home builders -- companies sensitive to interest-rate increases -- climbed, while U.S. Treasury bond yields fell after the Fed announced its decision to keep the fed funds rate at 5.25 percent, as expected.
Read Full Article at Reuters South Africa
IMF urged to sell 400t of gold
A panel of financial states people advised the IMF on Wednesday to sell 400 tons of its gold reserves as part of a new strategy to avert a long-term crunch in its finances.
But the International Monetary Fund should proceed with care in selling any gold to avoid destabilising world markets, the panel members including former Federal Reserve chief Alan Greenspan recommended.
Read Full Article at FIN24.co.za
But the International Monetary Fund should proceed with care in selling any gold to avoid destabilising world markets, the panel members including former Federal Reserve chief Alan Greenspan recommended.
Read Full Article at FIN24.co.za
Rand gains on trade surplus, gold bounce
South Africa's rand firmed against the dollar on Wednesday, bolstered by an unexpected trade surplus for December and a higher gold price, but the move was seen as short-lived.
The local currency was trading at 7.2590 to the greenback at 1530 GMT, a 0.7 percent gain over its previous New York close but off the session's strongest level of 7.2510.
Analysts said the rand gained momentum after official data showed the country notched up a 388 million rand trade surplus in December, thanks to a sharp drop in oil and machinery imports
Read Full Article at Reuters South Africa
The local currency was trading at 7.2590 to the greenback at 1530 GMT, a 0.7 percent gain over its previous New York close but off the session's strongest level of 7.2510.
Analysts said the rand gained momentum after official data showed the country notched up a 388 million rand trade surplus in December, thanks to a sharp drop in oil and machinery imports
Read Full Article at Reuters South Africa
Reunert, Altron merge telecom units
South African electronic groups Reunert and Altron won approval from the country's competition tribunal to merge their telecoms cable production units and assets, the firms said on Wednesday.
The merged entity will be jointly controlled by Reunert and Altron, through their respective subsidiaries and their empowerment partners, they said in a statement.
Read Full Article at Reuters South Africa
The merged entity will be jointly controlled by Reunert and Altron, through their respective subsidiaries and their empowerment partners, they said in a statement.
Read Full Article at Reuters South Africa
As Fed holds steady, Bernanke gains praise
Fourth-quarter snapshot adds to chairman's luster; inflation is still concern
As he finishes his first year as Federal Reserve chairman, Ben Bernanke has dispelled early doubts about his ability to steer the world's largest economy. But his biggest challenge -- bringing the economy in for a soft landing -- lies ahead.
Read Full Article at MoneyWeb.co.za
As he finishes his first year as Federal Reserve chairman, Ben Bernanke has dispelled early doubts about his ability to steer the world's largest economy. But his biggest challenge -- bringing the economy in for a soft landing -- lies ahead.
Read Full Article at MoneyWeb.co.za
The New World Of Emerging Market Currencies
In the shadow of more industrialized economies, interest in emerging market assets has increased in recent years. Although these assets tend to be somewhat volatile, the return is often worth the risk, as emerging market funds have produced higher percentages of wealth than benchmark rates.
Read Full Article at investopedia.com
Read Full Article at investopedia.com
Trade figures 'disappointing'
South Africa's trade balance swung into surplus last month, surprising markets on Wednesday, but analysts said it was not enough to help plug a wide current account gap.
South African Revenue Service data showed Africa's biggest economy recorded a trade surplus of R388 million rand in December, compared to a R10.5bn deficit the previous month.
Read Full Article at FIN24.co.za
South African Revenue Service data showed Africa's biggest economy recorded a trade surplus of R388 million rand in December, compared to a R10.5bn deficit the previous month.
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Boeing leads Dow higher, eyes on Fed
U.S. blue-chip stocks rose on Wednesday after Boeing Co. posted a stronger-than-expected quarterly profit and boosted its outlook, but jitters over the Federal Reserve's impending statement on rate policy prevented a broader advance.
Read Full Article at Reuters South Africa
Read Full Article at Reuters South Africa
Competition body opposes Pick 'n Pay bid
South Africa's Competition Commission said on Wednesday it had recommended against approval for retailer Pick 'n Pay's bid to acquire the Fruit & Veg City franchise.
Compliance manager at the commission, Tembinkosi Bonakele, told Reuters the commission found that Pick 'n Pay and Fruit & Veg City were competitors in the fresh produce market and a merger would stifle competition.
Read Full Article at Reuters South Africa
Compliance manager at the commission, Tembinkosi Bonakele, told Reuters the commission found that Pick 'n Pay and Fruit & Veg City were competitors in the fresh produce market and a merger would stifle competition.
Read Full Article at Reuters South Africa
Gold marks time ahead of US data
Spot gold was range trading early on Wednesday afternoon awaiting the release of US data as well as the Fed's interest rate decision for direction.
At 14:13, spot gold was quoted at $645.57/oz from $645.79/oz late Tuesday, while the euro was bid at $1.2937 from a previous $1.2963.
Read Full Article at FIN24.co.za
At 14:13, spot gold was quoted at $645.57/oz from $645.79/oz late Tuesday, while the euro was bid at $1.2937 from a previous $1.2963.
Read Full Article at FIN24.co.za
Corus deal buoys S.Africa's Mittal, Highveld shares
Shares in South Africa's Mittal Steel SA, a unit of the world's top steel group, jumped 6 percent on Wednesday to a fresh peak, buoyed by fresh consolidation in the global steel sector, traders said.
Shares in Mittal SA, majority-owned by Arcelor Mittal, traded 5.4 percent up at 109.62 rand, leading the blue chip Top-40 index, which lost 0.37 percent at 1303 GMT.
Read Full Article at Reuters South Africa
Shares in Mittal SA, majority-owned by Arcelor Mittal, traded 5.4 percent up at 109.62 rand, leading the blue chip Top-40 index, which lost 0.37 percent at 1303 GMT.
Read Full Article at Reuters South Africa
Trade surplus 'good news'
South Africa recorded a surplus of R387.8m for its trade with non-Southern African Customs Union (Sacu) trading partners in December after a surprise deficit of R10.513bn in November, according to Customs & Excise figures released on Wednesday.
South Africa's foreign trade balance was expected to have to have receded to a R1.293bn deficit in December, a survey by I-Net Bridge found.
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South Africa's foreign trade balance was expected to have to have receded to a R1.293bn deficit in December, a survey by I-Net Bridge found.
Read Full Article at FIN24.co.za
Shareholders ok M-Net sale
Shareholders in media company Johnnic Communications (Johncom) on Wednesday approved the company's sale of its 38.56% interest in pay television channel Electronic Media Network (M-Net) and SuperSport International Holdings.
The shareholders also approved the unbundling to Johncom shareholders of the Naspers Limited shares received as part consideration.
Read Full Article at FIN24.co.za
The shareholders also approved the unbundling to Johncom shareholders of the Naspers Limited shares received as part consideration.
Read Full Article at FIN24.co.za
Brait starts Africa's biggest private equity fund
Investment bank Brait SA has launched Africa's largest private equity fund, the $880 million Brait Fund IV, drawing investment from global players in what executives called a sign of confidence in South Africa.
Brait, whose Private Equity Division is one of the biggest in the South African private equity industry, said foreign investors in the fund include HarbourVest Partners and Princeton University Investment Company.
"We managed to persuade them that South Africa is an excellent destination for private equity as an asset class ... It is not short-term portfolio flows but someone that invests and stays in the economy for a long period," Brait director Eduardo Garcia said on Wednesday.
South Africa has seen a surge in private equity activity in the last year as big players have moved into Africa's biggest economy.
Read Full Article at Reuters South Africa
Brait, whose Private Equity Division is one of the biggest in the South African private equity industry, said foreign investors in the fund include HarbourVest Partners and Princeton University Investment Company.
"We managed to persuade them that South Africa is an excellent destination for private equity as an asset class ... It is not short-term portfolio flows but someone that invests and stays in the economy for a long period," Brait director Eduardo Garcia said on Wednesday.
South Africa has seen a surge in private equity activity in the last year as big players have moved into Africa's biggest economy.
Read Full Article at Reuters South Africa
US listing safe, says DRD
Gold miner DRDGold has received a warning from the US Nasdaq exchange because its stock there is trading below $1, the firm said on Tuesday.
But the company was not in danger of losing that key listing because there were technical ways of increasing the value of the US shares, such as making it worth more than one South Africa share, a spokesperson told Reuters.
Although DRD's primary listing is in South Africa, 65% of its shareholders are in North America.
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But the company was not in danger of losing that key listing because there were technical ways of increasing the value of the US shares, such as making it worth more than one South Africa share, a spokesperson told Reuters.
Although DRD's primary listing is in South Africa, 65% of its shareholders are in North America.
Read Full Article at FIN24.co.za
Sasol in board shake-up
Sasol said on Wednesday that Bheki Khumalo and Reiner Groh have both been elected to serve on various boards.
Khumalo is group general manager, in charge of government relations, corporate affairs and the black economic empowerment office. Groh is general manager for Sasol's chemical businesses.
Read Full Article at FIN24.co.za
Khumalo is group general manager, in charge of government relations, corporate affairs and the black economic empowerment office. Groh is general manager for Sasol's chemical businesses.
Read Full Article at FIN24.co.za
European stocks slip; FTSE up on oil, Vodafone
European shares ticked down on Wednesday but the UK's FTSE 100 index outperformed as oil firms tracked product prices higher and steel maker Corus rallied 7 percent after a higher-than-expected bid price.
Vodafone was another gainer, up 1.7 percent after the British mobile phone company beat third-quarter estimates for customer additions and reiterated its full-year forecast.
Read Full Article at Reuters South Africa
Vodafone was another gainer, up 1.7 percent after the British mobile phone company beat third-quarter estimates for customer additions and reiterated its full-year forecast.
Read Full Article at Reuters South Africa
Vodacom eyes R7.5bn BEE deal
South African mobile operator Vodacom is considering a black economic empowerment deal worth around R7.5bn, the firm said on Wednesday.
Read Full Article at FIN24.co.za
Read Full Article at FIN24.co.za
Tuesday, January 30, 2007
Dow, S&P rise with oil, Motorola; SanDisk sinks
U.S. stocks rose on Tuesday as a 5.5 percent jump in oil prices to nearly $57 a barrel spurred a rally in the energy sector, while shares of Motorola Inc. gained after investor Carl Icahn said he will seek a seat on the board.
U.S. crude oil futures prices shot up nearly $3 a barrel on colder temperatures and an OPEC supply cut expected to go into effect on Thursday. Exxon Mobil Corp., up 1.6 percent, or $1.19, at $74.39, gave the biggest boost to the S&P 500 and ranked No. 2 among the Dow's advancers.
Read Full Article at Reuters South Africa
U.S. crude oil futures prices shot up nearly $3 a barrel on colder temperatures and an OPEC supply cut expected to go into effect on Thursday. Exxon Mobil Corp., up 1.6 percent, or $1.19, at $74.39, gave the biggest boost to the S&P 500 and ranked No. 2 among the Dow's advancers.
Read Full Article at Reuters South Africa
Rand creeps firmer ahead of trade data
South Africa's rand nudged firmer against the dollar on Wednesday but was expected to be range bound ahead of domestic trade data that will shed light on the country's troubled balance of payments.
The rand was trading at 7.29 versus the greenback at 0700 GMT, from the New York close of 7.31 on Tuesday.
Traders said the local currency would likely trade in a narrow range in cautious trade ahead of the trade figures due at 1200 GMT.
Read Full Article at Reuters South Africa
The rand was trading at 7.29 versus the greenback at 0700 GMT, from the New York close of 7.31 on Tuesday.
Traders said the local currency would likely trade in a narrow range in cautious trade ahead of the trade figures due at 1200 GMT.
Read Full Article at Reuters South Africa
OPEC must comply with agreed oil supply cut - Nigeria
OPEC oil exporters agree the group should fully implement agreed cuts in supply rather than announce new measures to shore up the price, Nigerian Energy Minister Edmund Daukoru said Tuesday.
A second cut in OPEC oil supply quotas is due to take effect on February 1 and the 12-member group should see how the market responds to that before taking any further action, Daukoru said
Read Full Article at Reuters South Africa
A second cut in OPEC oil supply quotas is due to take effect on February 1 and the 12-member group should see how the market responds to that before taking any further action, Daukoru said
Read Full Article at Reuters South Africa
JSE fate in foreign hands
Foreigners pose the biggest risk to our market, says Old Mutual
Investors worried that the JSE’s stellar returns are temporary should pin their fears on foreign support drying up. This was the view given by Old Mutual Investment Group’s Peter Brooke, who presented the asset manager’s market view on Tuesday.
Read Full Article at Moneyweb.co.za
Investors worried that the JSE’s stellar returns are temporary should pin their fears on foreign support drying up. This was the view given by Old Mutual Investment Group’s Peter Brooke, who presented the asset manager’s market view on Tuesday.
Read Full Article at Moneyweb.co.za
Gold gains on oil rise, awaits Fed meet outcome
A rise in oil prices helped lift gold on Tuesday, but dealers were cautious ahead of a Federal Reserve meeting that may determine the metal's price direction.
Spot gold rose as high as $645.80 an ounce and was quoted at $644.90/645.65 by 1516 GMT, against $642.60/643.60 late in New York on Monday.
"The market now appears to wait for the outcome of the two-day FOMC meeting starting today. Crude oil remains the dominant fundamental driver for the time being," Dresdner Kleinwort said, referring to the Federal Open Market Committee
Read Full Article at Reuters South Africa
Spot gold rose as high as $645.80 an ounce and was quoted at $644.90/645.65 by 1516 GMT, against $642.60/643.60 late in New York on Monday.
"The market now appears to wait for the outcome of the two-day FOMC meeting starting today. Crude oil remains the dominant fundamental driver for the time being," Dresdner Kleinwort said, referring to the Federal Open Market Committee
Read Full Article at Reuters South Africa
A Corporate Approach To Personal Finance
Companies across the world operate in much the same way. They go into business, manage their expenses and try to turn a profit. It is a tried and true concept that can also be applied to personal finance. Think of yourself as your own little company. To make your company run smoothly, you need to take a look at your books. The exploration starts with a comparison of your income and expenses. In this article we'll show you how to apply corporate money-managing concepts to your own financial situation
Read Full Article at investopedia.com
Read Full Article at investopedia.com
Implats sees huge profit surge
Implats expects first-half headline and basic earnings per share to surge by 120-140% on strong metals prices, the firm said on Tuesday.
Impala Platinum Holdings, the world's second biggest platinum producer, gave no other details of its results for the six months to December in a brief trading statement.
Read Full Article at FIN24.co.za
Impala Platinum Holdings, the world's second biggest platinum producer, gave no other details of its results for the six months to December in a brief trading statement.
Read Full Article at FIN24.co.za
Coal miners unhappy on new S.Africa rail contracts
New coal freight contracts issued last week by South African rail freight operator Spoornet include stiff performance penalties for producers but few for Spoornet itself, South African coal producers and transport sources said.
South Africa's coal mining companies are almost completely reliant on Spoornet to take their exports to the Richards Bay Coal Terminal (RBCT), the world's biggest single coal port.
Large and small producers said they were reluctant to accept the new Spoornet contracts as they stand because the operator does not propose to face a similar level of penalty if it fails to perform.
Read Full Article at Reuters South Africa
South Africa's coal mining companies are almost completely reliant on Spoornet to take their exports to the Richards Bay Coal Terminal (RBCT), the world's biggest single coal port.
Large and small producers said they were reluctant to accept the new Spoornet contracts as they stand because the operator does not propose to face a similar level of penalty if it fails to perform.
Read Full Article at Reuters South Africa
European stocks flat in early trade, miners fall
European shares were flat to slightly lower in morning trade on Tuesday after a muted performance on Wall Street, while miners including BHP and Anglo American tracked losses in copper prices.
Shares in bid target Corus extended their ascent and rose 0.6 percent to a new seven-year high of 563 pence, ahead of a proposed auction for the Anglo-Dutch steelmaker, with both India's Tata Steel and Brazil's CSN interested suitors.
Read Full Article at Reuters South Africa
Shares in bid target Corus extended their ascent and rose 0.6 percent to a new seven-year high of 563 pence, ahead of a proposed auction for the Anglo-Dutch steelmaker, with both India's Tata Steel and Brazil's CSN interested suitors.
Read Full Article at Reuters South Africa
S.Africa securities up 44 pct in 2006,seen growing
Securitisation in South Africa increased by 44 percent to 31.7 billion rand in 2006 and should rise further this year as appetite for structured finance grows, Moody's Investors Service said on Tuesday.
In a report, the ratings agency said issuance of Residential Mortgage-Backed Securities increased to 13.4 billion rand in 2006 from 10.7 billion the previous year, almost half of it from Standard Bank's Blue Granite Investments programme.
This brought the total term issuance to date to 83.2 billion.
Read Full Article at Reuters South Africa
In a report, the ratings agency said issuance of Residential Mortgage-Backed Securities increased to 13.4 billion rand in 2006 from 10.7 billion the previous year, almost half of it from Standard Bank's Blue Granite Investments programme.
This brought the total term issuance to date to 83.2 billion.
Read Full Article at Reuters South Africa
Rate hike 'less likely'
Growth in demand for credit by South Africa's private sector slowed to 25.81% in the year to December from 26.77% in the year to November, official data showed on Tuesday.
During the same period, the broadly defined M3 measure of money supply grew by 21.93%, also lower than forecasts, from November's 25.33%.
Read Full Article at FIN24.co.za
During the same period, the broadly defined M3 measure of money supply grew by 21.93%, also lower than forecasts, from November's 25.33%.
Read Full Article at FIN24.co.za
Monday, January 29, 2007
Rand a tad stronger on weaker dollar
South Africa's rand firmed slightly against the dollar on Tuesday as investors trimmed dollar positions ahead of a U.S. monetary policy meeting, fearing a possible cut in interest rates in that country.
The rand was quoted at 7.3035 at 0700 GMT, two cents firmer than its New York close on Monday. The local currency was about 0.5 percent better off than in late Johannesburg trade.
Read Full Article at Reuters South Africa
The rand was quoted at 7.3035 at 0700 GMT, two cents firmer than its New York close on Monday. The local currency was about 0.5 percent better off than in late Johannesburg trade.
Read Full Article at Reuters South Africa
Oil pauses at $54 after OPEC export rise weighs
Oil steadied at $54 a barrel on Tuesday as traders balanced an expected rise in U.S. crude inventories and signs of OPEC producers lifting March output with forecasts for lower distillate fuel stocks after a cold snap.
The market held its ground after a slide of over $1 on Monday, when Saudi Arabia's ambassador to the United States said OPEC's largest producer was satisfied with U.S. crude near $50 and as other commodities were also hit by an investor sell-off.
Read Full Article at Reuters South Africa
The market held its ground after a slide of over $1 on Monday, when Saudi Arabia's ambassador to the United States said OPEC's largest producer was satisfied with U.S. crude near $50 and as other commodities were also hit by an investor sell-off.
Read Full Article at Reuters South Africa
S.Africa Dec PSCE slows to +25.81 pct yr/yr
Growth in demand for credit by South Africa's private sector slowed to 25.81 percent in the year to December from 26.77 percent in the year to November, official data showed on Tuesday.
During the same period, the broadly defined M3 measure of money supply grew by 21.93 percent, also slower than forecasts, from November's 25.33 percent
Read Full Article at Reuters South Africa
During the same period, the broadly defined M3 measure of money supply grew by 21.93 percent, also slower than forecasts, from November's 25.33 percent
Read Full Article at Reuters South Africa
Money in broadband video sites
Broadband video sites, such as YouTube, are poised to become valuable money-makers for programmers, suggests a new report from Nielsen Analytics.
The report, released last week, says that advertising on broadband video sites can command higher prices than traditional television ads. This is because viewers are more engaged with online video.
Read Full Article at FIN24.co.za
The report, released last week, says that advertising on broadband video sites can command higher prices than traditional television ads. This is because viewers are more engaged with online video.
Read Full Article at FIN24.co.za
Negative sentiment weighs on rand
South Africa's rand weakened against the dollar on Monday, weighed down by emerging market worries that saw investors opt out of riskier currencies, and analysts predicted a gloomy week for the local unit.
The rand stood at 7.3125 versus the dollar at 1530 GMT, having softened about 0.84 percent to 7.3470 earlier from its New close of 7.2850/dollar on Friday.
Market players said South African had borne the brunt of an emerging market sell-out on the day
Read Full Article at Reuters South Africa
The rand stood at 7.3125 versus the dollar at 1530 GMT, having softened about 0.84 percent to 7.3470 earlier from its New close of 7.2850/dollar on Friday.
Market players said South African had borne the brunt of an emerging market sell-out on the day
Read Full Article at Reuters South Africa
S.African stocks dip, Telkom up on Vodacom numbers
South African stocks dipped on Monday as furniture retailer JD Group slid on a report it had not been approached about a possible takeover but Telkom rose after its mobile unit Vodacom boosted subscriber numbers.
The Johannesburg Top-40 index of blue-chip stocks fell 0.13 percent to 22,842.17 points while the All-share index lost 0.14 percent to 25,341.81 points.
The JSE retail index slid 0.13 percent, led by JD Group, which closed 4.84 percent lower at 88.50 rand.
Read Full Article at Reuters South Africa
The Johannesburg Top-40 index of blue-chip stocks fell 0.13 percent to 22,842.17 points while the All-share index lost 0.14 percent to 25,341.81 points.
The JSE retail index slid 0.13 percent, led by JD Group, which closed 4.84 percent lower at 88.50 rand.
Read Full Article at Reuters South Africa
China gives Africa $3bn loan
China will lend African nations $3bn in preferential credit over three years and double aid and interest-free loans over the same time, Beijing announced on Monday ahead of President Hu Jintao's tour to woo the continent.
Read Full Article at FIN24.co.za
Read Full Article at FIN24.co.za
Kumba earnings, output expected to double by 2013
Kumba Iron Ore is expected to double its earnings by 2013 in tandem with the more than twofold increase in the company's iron ore production.
Kumba said on Friday that its basic earnings for last year were expected to be between R4.1 billion and R4.4 billion.
The company is aiming to raise its annual output of iron ore, a key ingredient in steel, from 31 million tons to more than 70 million tons by 2015.
Read Full Article at Business Report
Kumba said on Friday that its basic earnings for last year were expected to be between R4.1 billion and R4.4 billion.
The company is aiming to raise its annual output of iron ore, a key ingredient in steel, from 31 million tons to more than 70 million tons by 2015.
Read Full Article at Business Report
Shareholders approve Netcare issue
Listed hospital group Netcare has won shareholder approval to issue stock to replace bonds.
The resolution, approved at Friday's annual general meeting, will give directors control over 112 million shares, equivalent to 15 percent of the stock not yet listed for trading, or 6 percent of its publicly traded shares.
Read Full Article at Business Report
The resolution, approved at Friday's annual general meeting, will give directors control over 112 million shares, equivalent to 15 percent of the stock not yet listed for trading, or 6 percent of its publicly traded shares.
Read Full Article at Business Report
Investors back Barloworld buy-back
Diversified industrial conglomerate Barloworld has won backing to buy back as much as a fifth of its shares from investors.
Read Full Article at Business Report
Read Full Article at Business Report
Palabora turns copper to gold
Copper producer Palabora Mining Company on Monday reported 1 329 cents per share headline earnings for its financial year, compared to a loss of 339 cent loss in 2005, thanks largely to higher prices and increased production.
In its results announcement released Monday, the company said that sales increased by 108 percent to R5,04 billion, as a result of higher copper and by-product prices and increased copper sales volumes to 97 thousand tonnes compared to 17 000 tons previously.
Read Full Article at Business Report
In its results announcement released Monday, the company said that sales increased by 108 percent to R5,04 billion, as a result of higher copper and by-product prices and increased copper sales volumes to 97 thousand tonnes compared to 17 000 tons previously.
Read Full Article at Business Report
Easing inflation pressures fuel hopes that Bank may take breather on interest rate increases
PRICE pressures continued to moderate last month, fuelling expectations that rate hikes could be at their peak. SA’s inflation numbers, which came out last week, show that consumer inflation numbers came in better than expected, while producer inflation data were also a pleasant surprise.
CPIX inflation (the consumer price index excluding mortgage costs) came in at 5% year on year last month, unchanged from the previous two months, while PPI (the producer price index) was at 9,3% (10%) year on year.
Read Full Article at Business Day
CPIX inflation (the consumer price index excluding mortgage costs) came in at 5% year on year last month, unchanged from the previous two months, while PPI (the producer price index) was at 9,3% (10%) year on year.
Read Full Article at Business Day
Investec sees slower equities growth this year
STOCKS are set to notch up more gains this year but growth could be impeded by a battle to succeed President Thabo Mbeki and a possible weaker US economy, Investec Asset Management said today
Read Full Article at Business Day
Read Full Article at Business Day
Angloplat failing on black empowerment - Minister
ANGLO Platinum has not shown enough commitment to SA’s black empowerment programme, Minerals and Energy Affairs Minister Buyelwa Sonjica said today. The minister said she raised the issue during talks with incoming Anglo American CE Cynthia Carroll.
Read Full Article at Business Day
Read Full Article at Business Day
Nickel hovers below highs as copper falls
Nickel prices hovered near record highs in early trade in London on Monday, supported by the threat of strike action at major producer Xstrata and by a further fall in stocks.
At $37,800/38,000 per tonne at 1100 GMT, London Metal Exchange nickel for delivery in three months was 13percent higher than at the start of the year.
On Friday it hit a fresh high of $38,950 before closing at$38,100.
Read Full Article at Reuters South Africa
At $37,800/38,000 per tonne at 1100 GMT, London Metal Exchange nickel for delivery in three months was 13percent higher than at the start of the year.
On Friday it hit a fresh high of $38,950 before closing at$38,100.
Read Full Article at Reuters South Africa
Gold drifts lower, awaits US economic signals
Gold declined in Europe on Monday after gaining overnight as a steady dollar against the euro and weaker oil prices triggered profit taking.
Dealers said gold would remain confined in a broad range as investors awaited the outcome of a meeting of the Federal Reserve and U.S. economic data due for release this week.
Spot gold hit an intraday high of $647.70 an ounce in Asia before falling to $642.40/643.40 by 1049 GMT, compared with $645.00/646.00 in New York late on Friday.
Read Full Article at Reuters South Africa
Dealers said gold would remain confined in a broad range as investors awaited the outcome of a meeting of the Federal Reserve and U.S. economic data due for release this week.
Spot gold hit an intraday high of $647.70 an ounce in Asia before falling to $642.40/643.40 by 1049 GMT, compared with $645.00/646.00 in New York late on Friday.
Read Full Article at Reuters South Africa
Chinese money heading for SA
Chinese president Hu Jintao would make further large financial contributions to South Africa's Asgisa (Accelerated and Shared Growth Initiative of South Africa) programme during his state visit to the country, Chinese ambassador Liu Guijin said on Monday.
Read Full Article at FIN24.co.za
Read Full Article at FIN24.co.za
Declaration, Ex-dividend And Record Date Defined
Have the workings of dividends and dividend distributions mystified you too? Chances are it's not the concept of dividends that confuses you; the ex-dividend date and date of record are the tricky factors. In this article we'll sort through the dividend payment process and explain on what date the buyer of the stock gets to keep the dividend.
Read Full Article at Investopedia.com
Read Full Article at Investopedia.com
FTSE flat as telecoms slip, but miners rise
Britain's benchmark index was flat to softer in early trade on Monday, weighed by ailing telecoms stocks although helped by firm oil and mining shares.
Shares in British Telecom dropped 0.9 percent and mobile telecoms group Vodafone lost 0.7 percent as European telecoms suffered after Deutsche Telekom issued its second profit warning in six months
Read Full Article at Reuters South Africa
Shares in British Telecom dropped 0.9 percent and mobile telecoms group Vodafone lost 0.7 percent as European telecoms suffered after Deutsche Telekom issued its second profit warning in six months
Read Full Article at Reuters South Africa
Housing loan – a lawful deduction
Deputy pension funds’ adjudicator discusses housing related deductions from pension benefits.
Individuals looking for money to build or refurbish a house could get it form their pensions.
Pension and provident funds are a form of social security and therefore the Pension Funds Act allows funds to grant housing loans to its members.In terms of the act, provided the fund rules so permit, a fund may grant a loan to a member for the purposes of acquiring a house or property on which a dwelling will be erected for him or his dependants or effecting improvements to an existing dwelling.
Read Full Article at MoneyWeb.co.za
Individuals looking for money to build or refurbish a house could get it form their pensions.
Pension and provident funds are a form of social security and therefore the Pension Funds Act allows funds to grant housing loans to its members.In terms of the act, provided the fund rules so permit, a fund may grant a loan to a member for the purposes of acquiring a house or property on which a dwelling will be erected for him or his dependants or effecting improvements to an existing dwelling.
Read Full Article at MoneyWeb.co.za
What you lose if you resign
It could be tens of millions of rands but that should not be your only concern
Think carefully before you resign - it could cost you dearly.Here are some points to consider before you take the decision:
Think carefully before you resign - it could cost you dearly.Here are some points to consider before you take the decision:
- Ask yourself what you stand to lose?
- Your future earnings capacity might not match the intrinsic value of what you leave behind
- The grass might not always be greener on the other side
- Discretionary income could be lost.
- You could forfeit your 13th cheque
- Your new employer could be offering you much less than you think
- A competent career history could be erased.
- The culture of the new company
- The nature of the industry
- What happens to your pension
Rates shock for property owners
Owners of sectional title units in the Western Cape will be charged individually for property rates and services by their municipalities this year, the Business Day reported on its website on Monday.
A new rates policy is to be implemented across South Africa under the Local Government Municipal Property Rates Act 2004.
Read Full Article at FIN24.co.za
A new rates policy is to be implemented across South Africa under the Local Government Municipal Property Rates Act 2004.
Read Full Article at FIN24.co.za
Sunday, January 28, 2007
Rand eases, eyes data for rate clues
South Africa's rand eased slightly against the dollar on Monday but was seen contained within a 7.18-7.32 band while awaiting further direction from a range of local and U.S. data over the week.
The rand was at 7.2930/dollar at 0645 GMT, a touch weaker from its 7.2850 position when New York closed on Friday.
"There's not much change from Friday although the dollar is quite stronger against everything else. I think dollar/rand has had its run. We'll most probably peak around 7.30-7.32 and come back to the lower 7.18-7.20's over the next couple of days," a Johannesburg dealer said
Read Full Article at Reuters South Africa
The rand was at 7.2930/dollar at 0645 GMT, a touch weaker from its 7.2850 position when New York closed on Friday.
"There's not much change from Friday although the dollar is quite stronger against everything else. I think dollar/rand has had its run. We'll most probably peak around 7.30-7.32 and come back to the lower 7.18-7.20's over the next couple of days," a Johannesburg dealer said
Read Full Article at Reuters South Africa
Bull market intact
Investors can enjoy firming equity markets on the back of multiple expansions, triggered by cooled crude oil prices.
Despite an equities bull market of several years’ vintage, investors are likely to continue enjoying firming stock prices as time continues to march into 2007. Measured in dollar terms, global stock prices have more than doubled since early 2003, but rising profits have meant that a key measure of stock valuation is now at one of its least expensive levels in the past two decades.
Read Full Article at MoneyWeb.co.za
Despite an equities bull market of several years’ vintage, investors are likely to continue enjoying firming stock prices as time continues to march into 2007. Measured in dollar terms, global stock prices have more than doubled since early 2003, but rising profits have meant that a key measure of stock valuation is now at one of its least expensive levels in the past two decades.
Read Full Article at MoneyWeb.co.za
Gold rebounds but firm US dollar weighs
Gold rebounded after falling in New York on profit taking and a firmer dollar. Investec Australia pegged support at $610 and resistance at $650 an ounce.
Spot gold rose to $647/648 an ounce from$645.00/646.00 late in New York on Friday, when it had dropped more than $1.
Read Full Article at Reuters South Africa
Spot gold rose to $647/648 an ounce from$645.00/646.00 late in New York on Friday, when it had dropped more than $1.
Read Full Article at Reuters South Africa
Oil rises on US cold snap, renewed Iran tensions
Oil prices rose closer to the $56 a barrel mark on Monday, supported by a cold snap in top consumer the United States and by escalating political tensions in Iran and Nigeria.
U.S. crude climbed 47 cents to $55.89 a barrel by 0155 GMT, extending Friday's 2 percent gain, on expectations that freezing temperatures in the U.S. would speed up consumption of a brimming stockpile.
London Brent crude rose 30 cents to $55.59.
Read Full Article at Reuters South Africa
U.S. crude climbed 47 cents to $55.89 a barrel by 0155 GMT, extending Friday's 2 percent gain, on expectations that freezing temperatures in the U.S. would speed up consumption of a brimming stockpile.
London Brent crude rose 30 cents to $55.59.
Read Full Article at Reuters South Africa
Oil firms eye new frontier in Angola's Cabinda
For more than three decades Angola's Cabinda province has been a tantalising but risky prize for oil companies who wanted to drill on its untapped shores but were put off by a bloody separatist insurrection.
Exploration in the former Portuguese protectorate has focused almost entirely on the oil-rich waters in the Baia de Cabinda until last year when Angola's government and a group of Cabindan rebels agreed to end their bloody 31-year war.
Read Full Article at Reuters South Africa
Exploration in the former Portuguese protectorate has focused almost entirely on the oil-rich waters in the Baia de Cabinda until last year when Angola's government and a group of Cabindan rebels agreed to end their bloody 31-year war.
Read Full Article at Reuters South Africa
Five ways to pay for education
School fees eat up a sizable chunk of disposable income, with the annual cost of sending a child to the better primary and secondary schools easily in line and even in excess of a year at university.With all those regular bills, and no time to build a big lump sum, what’s the best way to pay?
Read Full Article at Moneyweb.co.za
Read Full Article at Moneyweb.co.za
Friday, January 26, 2007
US indexes fall after home sales report
U.S. stocks fell on Friday after data showing stronger-than-expected new home sales last month raised concern about the outlook for interest rates.
A rise in crude oil prices added to the negative tone
Read Full Article at Reuters South Africa
A rise in crude oil prices added to the negative tone
Read Full Article at Reuters South Africa
US stock market starts higher on durables, Caterpillar
U.S. stocks rebounded on Friday after a stronger-than-expected forecast from Caterpillar Inc. and data showing orders for durable goods above Wall Street estimates.
The Dow Jones industrial average was up 14.42 points, or 0.12 percent, at 12,516.98. The Standard and Poor's 500 Index was up 1.01 points, or 0.07 percent, at 1,424.91. The Nasdaq Composite Index was up 6.86 points, or 0.28 percent, at 2,441.10
Read Full Article at Reuters South Africa
The Dow Jones industrial average was up 14.42 points, or 0.12 percent, at 12,516.98. The Standard and Poor's 500 Index was up 1.01 points, or 0.07 percent, at 1,424.91. The Nasdaq Composite Index was up 6.86 points, or 0.28 percent, at 2,441.10
Read Full Article at Reuters South Africa
Kumba 2-month headline profit seen at R250-R275 mln
Africa's biggest iron ore producer, Kumba Iron Ore, said on Friday it expects headline earnings for the two months to the end of December 2006 to be between 250 million rand and 275 million rand.
Basic earnings for the two months are expected to be between 350 million and 400 million rand, Kumba said in a statement.
Kumba said headline and basic earnings have been hit by about 150 million rand in once-off costs due to an empowerment transaction that saw Kumba Resources Ltd split into Kumba Iron Ore and Exxaro Resources Ltd.
Headline earnings, the main profit measure in South Africa, strip out non-trading, capital and certain extraordinary items.
Read Full Article at Reuters South Africa
Basic earnings for the two months are expected to be between 350 million and 400 million rand, Kumba said in a statement.
Kumba said headline and basic earnings have been hit by about 150 million rand in once-off costs due to an empowerment transaction that saw Kumba Resources Ltd split into Kumba Iron Ore and Exxaro Resources Ltd.
Headline earnings, the main profit measure in South Africa, strip out non-trading, capital and certain extraordinary items.
Read Full Article at Reuters South Africa
Rising stocks weigh on copper, outlook brighter
Rising stocks knocked copper market sentiment on Friday, but analysts say expectations of strong demand growth from China will underpin the metal and possibly push prices back above $6,000 over coming days.
Nickel for three-month delivery on the London Metal Exchange touched a new all-time high of $38,950 a tonne on worries about low stocks and supply shortages, while tin was hovering below this week's record high of $12,500 a tonne.
Three-month copper was by 1105 GMT was quoted down at $5,800/5,820 a tonne from $5,850 on Thursday, when it touched a two-week high of $5,910.
Stocks of copper in LME warehouses rose 4,325 tonnes to 207,700 tonnes, more than double the levels seen last January.
Read Full Article at Reuters South Africa
Nickel for three-month delivery on the London Metal Exchange touched a new all-time high of $38,950 a tonne on worries about low stocks and supply shortages, while tin was hovering below this week's record high of $12,500 a tonne.
Three-month copper was by 1105 GMT was quoted down at $5,800/5,820 a tonne from $5,850 on Thursday, when it touched a two-week high of $5,910.
Stocks of copper in LME warehouses rose 4,325 tonnes to 207,700 tonnes, more than double the levels seen last January.
Read Full Article at Reuters South Africa
Find The Right Financial Advisor
When many people think of the term "financial advisor", they picture a stressed out Wall Street type sitting behind a computer or telephone placing buy and sell orders and attempting to make their clients as much money as possible. While many advisors may still fit this mold, some are evolving their practice into a more comprehensive approach that takes a look at not just investments, but also insurance, budgeting, taxes, retirement, education funding and estate planning.
As you test the waters to find the right financial advisor for you, you'll need to have a grasp on the areas in which you are seeking help. You'll then be able to examine your potential financial advisor before you hire them and determine exactly how skilled they are in the areas for which you are seeking assistance.
Read Full Article at investopedia.com
As you test the waters to find the right financial advisor for you, you'll need to have a grasp on the areas in which you are seeking help. You'll then be able to examine your potential financial advisor before you hire them and determine exactly how skilled they are in the areas for which you are seeking assistance.
Read Full Article at investopedia.com
Anglo American seeks Philippine mining permits
Anglo American Plc, the world's third biggest mining group, has joined the rush to discover new Philippine mines by seeking permits to explore in a dozen areas in the country, a source close to the firm said on Friday.
Anglo, which has a joint venture with local firm Philex Mining Corp. in the Boyongan copper project in the southern Philippines, is also in joint venture talks with Manila Mining Corp. to explore an adjacent property called Bayugo.
The company is also set to start exploration of its Manmanok copper-gold project in the northern Philippines next month, the source, who asked not to be identified, said
Read Full Article at Reuters South Africa
Anglo, which has a joint venture with local firm Philex Mining Corp. in the Boyongan copper project in the southern Philippines, is also in joint venture talks with Manila Mining Corp. to explore an adjacent property called Bayugo.
The company is also set to start exploration of its Manmanok copper-gold project in the northern Philippines next month, the source, who asked not to be identified, said
Read Full Article at Reuters South Africa
FTSE down as commodities and Wall St drag
The FTSE 100 of Britain's leading shares was down 0.4 percent on Friday, dragged lower by commodities and after U.S. stocks fell sharply following weaker payroll and existing homes sales figures on Thursday.
With U.S. crude oil prices at below $55 after a 2 percent fall the previous day, heavyweight oil stocks dragged the FTSE 100 down. BP and Royal Dutch Shell both dipped 0.5 percent.
Mining stocks also featured on the downside, on economic worries and falling base and precious metals. BHP Billiton dropped 1.5 percent, Rio Tinto fell 1.4 percent and Kazakhmys lost 1 percent.
Read Full Article at Reuters South Africa
With U.S. crude oil prices at below $55 after a 2 percent fall the previous day, heavyweight oil stocks dragged the FTSE 100 down. BP and Royal Dutch Shell both dipped 0.5 percent.
Mining stocks also featured on the downside, on economic worries and falling base and precious metals. BHP Billiton dropped 1.5 percent, Rio Tinto fell 1.4 percent and Kazakhmys lost 1 percent.
Read Full Article at Reuters South Africa
Foreign frenzy for SA property
Coastal property sales from the West Coast to Knysna this festive season wiped out all signs of a cooling property market.
Property sales along the Atlantic Seaboard were especially characterised by foreign interest.
Read Full Article at FIN24.co.za
Property sales along the Atlantic Seaboard were especially characterised by foreign interest.
Read Full Article at FIN24.co.za
Oil steady below $55, weighs mixed weather outlook
Oil prices stood below $55 on Friday after a 2 percent fall the previous day, as traders pondered the length of the current cold snap in the United States that has helped lift prices by some $2.50 this week.
U.S. light crude for March delivery was up 25 cents at $54.48 a barrel by 0748 GMT, after a $1.14 slide on Thursday, on concerns that the recent frosty weather in the U.S. would not last long enough to bring distillates inventories down. The drop came after a $2.79 gain over the past two days.
Prices earlier reached $55.90 on Thursday, the highest level since $56.20 touched on January 9.
Read Full Article at Reuters South Africa
U.S. light crude for March delivery was up 25 cents at $54.48 a barrel by 0748 GMT, after a $1.14 slide on Thursday, on concerns that the recent frosty weather in the U.S. would not last long enough to bring distillates inventories down. The drop came after a $2.79 gain over the past two days.
Prices earlier reached $55.90 on Thursday, the highest level since $56.20 touched on January 9.
Read Full Article at Reuters South Africa
Thursday, January 25, 2007
Imperial to distribute New Holland Kobelco
South African diversified industrial group Imperial Holdings Ltd got the rights to distribute construction machinery made by New Holland Kobelco in southern Africa, Imperial said on Friday.
Read Full Article at Reuters South Africa
Read Full Article at Reuters South Africa
Rand steady, eyes 7.30/dollar
South Africa's rand was steady against the dollar on Friday, after falling sharply the previous night in tandem with emerging markets, and market watchers did not rule out further weakness during the day.
The rand was trading at 7.27 to the greenback at 0705 GMT, unchanged from its New York close on Thursday. The South Africa currency had earlier on Friday dipped as low as 7.28/dollar.
Read Full Article at Reuters South Africa
The rand was trading at 7.27 to the greenback at 0705 GMT, unchanged from its New York close on Thursday. The South Africa currency had earlier on Friday dipped as low as 7.28/dollar.
Read Full Article at Reuters South Africa
What Is Money?
Everyone uses money. We all want it, work for it and think about it. If you don't know what money is, you are not like most humans. However, the task of defining what money is, where it comes from and what it's worth belongs to those who dedicate themselves to the discipline of economics.
While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and want. Here we look at the multifaceted characteristics of money.
Read Full Article at investopedia.com
While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and want. Here we look at the multifaceted characteristics of money.
Read Full Article at investopedia.com
Gold off 5-½ month high; silver, platinum fall
Gold fell $1 on Friday, after having risen to its best level in 2007 a day earlier, but bargain hunters were expected to resurface around current levels and offer some support.
Other precious metals hovered below their highs hit on Thursday and were expected to track movements in gold, which may also find support from purchases from jewellery makers ahead of the Lunar New Year in February.
Spot gold fell to $645.10/646.10 an ounce from$646.60/647.60 an ounce late in New York on Thursday, when it had risen to its highest since early August at $654 an ounce.
Read Full Article at Reuters South Africa
Other precious metals hovered below their highs hit on Thursday and were expected to track movements in gold, which may also find support from purchases from jewellery makers ahead of the Lunar New Year in February.
Spot gold fell to $645.10/646.10 an ounce from$646.60/647.60 an ounce late in New York on Thursday, when it had risen to its highest since early August at $654 an ounce.
Read Full Article at Reuters South Africa
Second day record close for the JSE
After opening softer after yesterdays record high the All Share climbed up another 0.5% to end at 25572.390. This was due to a rise in the resource sector with Gold Mining and Platinum Mining ending 1.51% and 1.60% higher respectively. The Industrial 25 was also up 0.46% unfortunately the financials where down 0.49%.
The gold price rose 0.93% to trade at $653.75/oz but the key was the weakening in the Rand to trade at 7.2219 to the dollar.
Other Stats
Rand-Sterling 14.2298 1.64%
Rand-Dollar 7.2219 1.21%
Rand-Euro 9.3698 1.40%
Gold 653.75 0.93%
Platinum 1180.00 1.24%
Brent Oil 55.58 0.27%
Current Trades
Again nothing since I missed to boat. I will however have more time to scan for opportunities when the auditors leave me alone in my corner.
Watch List
1)JSE CODE:NHM 4801 -5.27 %
SECTOR: Platinum & Precious Metals
Comment: This is more like it! Will need to check the charts to see if my 4500 will be a good entry point.
2)JSE CODE:SOL 24515 1.31 %
SECTOR: Integrated Oil & Gas
Comment: Still holding thumbs for a pull back for me to jump on. The oil price seems to have support at their current levels so it is unlikely in the short term.
Tomorrow
Again I fly in the face of wisdom and call for a pullback in the short term but I am still bullish in the longer term
The gold price rose 0.93% to trade at $653.75/oz but the key was the weakening in the Rand to trade at 7.2219 to the dollar.
Other Stats
Rand-Sterling 14.2298 1.64%
Rand-Dollar 7.2219 1.21%
Rand-Euro 9.3698 1.40%
Gold 653.75 0.93%
Platinum 1180.00 1.24%
Brent Oil 55.58 0.27%
Current Trades
Again nothing since I missed to boat. I will however have more time to scan for opportunities when the auditors leave me alone in my corner.
Watch List
1)JSE CODE:NHM 4801 -5.27 %
SECTOR: Platinum & Precious Metals
Comment: This is more like it! Will need to check the charts to see if my 4500 will be a good entry point.
2)JSE CODE:SOL 24515 1.31 %
SECTOR: Integrated Oil & Gas
Comment: Still holding thumbs for a pull back for me to jump on. The oil price seems to have support at their current levels so it is unlikely in the short term.
Tomorrow
Again I fly in the face of wisdom and call for a pullback in the short term but I am still bullish in the longer term
S.Africa 2007 growth to moderate - Moody's Economy.com
South Africa's economic growth should moderate in 2007 as domestic demand cools in response to tighter monetary policy, research group Moody's Economy.com said on Thursday.
The government has projected economic growth for 2007 will match last's year's 4.4 expansion, down from the two decade record of 5.1 percent in 2005.
Read Full Article at Reuters South Africa
The government has projected economic growth for 2007 will match last's year's 4.4 expansion, down from the two decade record of 5.1 percent in 2005.
Read Full Article at Reuters South Africa
Oil holds at $55
Oil held over $55 a barrel on Thursday, as technical buying and plans to increase emergency US stockpiles offset builds in crude and distillate fuel inventories in the world's top consumer.
US light crude for March delivery was down 23 cents at $55.14 a barrel by 04:17 GMT, having gained 33c on Wednesday. London Brent crude was down 8c to $55.35.
Read Full Article at FIN24.co.za
US light crude for March delivery was down 23 cents at $55.14 a barrel by 04:17 GMT, having gained 33c on Wednesday. London Brent crude was down 8c to $55.35.
Read Full Article at FIN24.co.za
Ten Tips For The Successful Long-Term Investor
While it may be true that in the stock market there is no rule without an exception, there are some principles which are tough to dispute. We'll review 10 general principles to help investors get a better grasp of how to approach the market from a long-term view. Keep in mind that these guidelines are quite general, each with different applications depending on the circumstance. But every point embodies some fundamental concept every investor should know.
1) Sell the losers and let the winners ride!
2) Don't chase the "hot tip"
3) Don't sweat the small stuff
4) Do not overemphasize the P/E ratio
5) Resist the lure of penny stocks
6) Pick a strategy and stick with it
7) Focus on the future
8) Investors adopt a long-term perspective
9) Be open-minded when selecting companies
10) Taxes are important, but not that important
Read Full Article at investopedia.com
1) Sell the losers and let the winners ride!
2) Don't chase the "hot tip"
3) Don't sweat the small stuff
4) Do not overemphasize the P/E ratio
5) Resist the lure of penny stocks
6) Pick a strategy and stick with it
7) Focus on the future
8) Investors adopt a long-term perspective
9) Be open-minded when selecting companies
10) Taxes are important, but not that important
Read Full Article at investopedia.com
Copper gains on China news, but gains seen capped
Copper prices rose on Thursday as strong economic growth in China boosted sentiment, but analysts said gains were likely to be capped by rising stocks and worries about oversupply.
Copper for delivery in three months traded at $5,850 a tonne in the first rings on the London Metal Exchange from Wednesday's close at $5,715 a tonne. It touched a two-week high of $5,902 on Thursday.
China's economy, the world's fourth-largest, grew 10.7 percent last year, the fastest since 1995, as investments and exports powered ahead despite government efforts to curb expansion.
China has seen double-digit growth for four years running.
Read Full Article at Reuters South Africa
Copper for delivery in three months traded at $5,850 a tonne in the first rings on the London Metal Exchange from Wednesday's close at $5,715 a tonne. It touched a two-week high of $5,902 on Thursday.
China's economy, the world's fourth-largest, grew 10.7 percent last year, the fastest since 1995, as investments and exports powered ahead despite government efforts to curb expansion.
China has seen double-digit growth for four years running.
Read Full Article at Reuters South Africa
Gold, palladium soars
Gold has rallied to a 5½-month high of $651.80/oz as investors saw potential for it to scale new peaks on expectations of a weakening of the US dollar.
Silver jumped to a one-month high, while palladium prices rose as high as $349 an ounce, the highest level in more than four-and-a-half months.
After several recent attempts, gold breached the $650-an-ounce mark and analysts said a weaker dollar and firmer oil prices should help it to scale new highs going forward.
Read Full Article at FIN24.co.za
Silver jumped to a one-month high, while palladium prices rose as high as $349 an ounce, the highest level in more than four-and-a-half months.
After several recent attempts, gold breached the $650-an-ounce mark and analysts said a weaker dollar and firmer oil prices should help it to scale new highs going forward.
Read Full Article at FIN24.co.za
G.Fields sets $1.2 bln capital raising, Q2 profit up
Gold Fields Ltd the world's fourth-biggest gold producer, launched a $1.2 billion capital raising on Thursday as it posted a 5 percent rise in second-quarter profit, beating analysts' expectations.
Gold Fields shares, which have shed 8 percent so far this year, fell 2.9 percent to 122.30 rand by 0835 GMT, compared to a 1.35 percent fall in the gold mining index.
The South African firm also said it had spent $528 million to close out the 1 million ounce hedge book of recent acquisition Western Areas.
Gold Fields said earnings per share for the three months to end December, excluding the effects of financial instruments and foreign debt, rose to 147 South African cents from a restated 140 cents the previous quarter.
Read Full article at Reuters South Africa
Gold Fields shares, which have shed 8 percent so far this year, fell 2.9 percent to 122.30 rand by 0835 GMT, compared to a 1.35 percent fall in the gold mining index.
The South African firm also said it had spent $528 million to close out the 1 million ounce hedge book of recent acquisition Western Areas.
Gold Fields said earnings per share for the three months to end December, excluding the effects of financial instruments and foreign debt, rose to 147 South African cents from a restated 140 cents the previous quarter.
Read Full article at Reuters South Africa
Sharp drop in producer inflation
SA's producer price inflation has braked to 9.3% in the year to December after a 10% rise in November, way below analysts' expectations.
The PPI declined -0.6% on a monthly basis after November's monthly increase of 0.5%.
The PPI was expected to have increased to 10.3% y/y in December, a survey of 12 economists by I-Net Bridge found.
A year ago PPI was at half the current levels, coming in at just 5.1%.
Read Full Article at FIN24.co.za
The PPI declined -0.6% on a monthly basis after November's monthly increase of 0.5%.
The PPI was expected to have increased to 10.3% y/y in December, a survey of 12 economists by I-Net Bridge found.
A year ago PPI was at half the current levels, coming in at just 5.1%.
Read Full Article at FIN24.co.za
Wednesday, January 24, 2007
BHP costs soar, output up
BHP Billiton has unveiled further cost blowouts and delays at major projects, highlighting the pressures affecting miners around the world.
But the global miner also posted healthy production figures that reassured analysts BHP will report a record first half profit above US$6bn early next month.
Read Full article at FIN24.co.za
But the global miner also posted healthy production figures that reassured analysts BHP will report a record first half profit above US$6bn early next month.
Read Full article at FIN24.co.za
Rand softer versus dollar ahead of PPI
South Africa's rand opened weaker against the dollar on Thursday and market players said the currency would take further direction from official producer inflation data due out later in the morning.
The rand was trading at 7.1525 versus the dollar at 0705 GMT, three cents weaker than its New York close of 7.1250 on Wednesday.
Read Full Article at Reuters South Africa
The rand was trading at 7.1525 versus the dollar at 0705 GMT, three cents weaker than its New York close of 7.1250 on Wednesday.
Read Full Article at Reuters South Africa
Gold struggles to keep gains, off 7-week high
Gold gyrated in a tight range on Thursday, showing signs of fatigue after rising to its highest in more than seven weeks the previous day due to firmer crude oil.
Gold met selling pressure from investors in Asia, including those in China, after it failed to crack stubborn resistance at$650 an ounce. Other precious metals firmed but silver dropped after touching its highest since mid-December at $13.26.
Read Full article at Reuters South Africa
Gold met selling pressure from investors in Asia, including those in China, after it failed to crack stubborn resistance at$650 an ounce. Other precious metals firmed but silver dropped after touching its highest since mid-December at $13.26.
Read Full article at Reuters South Africa
China's economy soars 10.7%
China's economy has expanded by 10.7% in 2006, its fastest rate in more than a decade, despite a raft of government curbs to keep the pace of growth in check.
The world's fourth-largest economy has now grown at double-digit rates for four years in a row.
At that pace, China's output could leapfrog Germany's and catapult it into third place in the global rankings as soon as 2008, when it will showcase its meteoric rise by hosting the Olympic Games. It overtook Britain in 2005.
Read the full article at FIN24.co.za
The world's fourth-largest economy has now grown at double-digit rates for four years in a row.
At that pace, China's output could leapfrog Germany's and catapult it into third place in the global rankings as soon as 2008, when it will showcase its meteoric rise by hosting the Olympic Games. It overtook Britain in 2005.
Read the full article at FIN24.co.za
JSE rourse to new High
The all share index was up 1.13% at 25,386.79 after reaching an all-time high of 25,438.49.Resources rallied 2.3%, with the gold and platinum mining indices jumping 2.06% and 2.15% respectively.Industrials climbed 0.4% and financials firmed 0.31%, but the banks index was 0.31% in the red.The rand was bid at 7.13 per dollar from 7.10 when the JSE closed on Tuesday, while gold was quoted at US642.80 a troy ounce from $639.85/oz at the JSE's last close.
Other Stats
Rand-Sterling 14.0941 0.18%
Rand-Dollar 7.1690 0.82%
Rand-Euro 9.2953 0.49%
Rand-Sterling 14.0941 0.18%
Rand-Dollar 7.1690 0.82%
Rand-Euro 9.2953 0.49%
Gold 641.25 -0.68%
Platinum 1163.00 -0.77%
Brent Oil 53.95 -2.09%
Current Trades
None but kicking myself for not buying SOL as a Call Warrant.
Watch List
1)JSE CODE:NHM 5040 -0.20 %
SECTOR: Platinum & Precious Metals
Comment: If it drops below 4500 I will trade it. But now its to expensive
1)JSE CODE:NHM 5040 -0.20 %
SECTOR: Platinum & Precious Metals
Comment: If it drops below 4500 I will trade it. But now its to expensive
2)JSE CODE:SOL 24199 4.31 %
SECTOR: Integrated Oil & Gas
Comment: I missed the train completely with this one being a star performer today. But the oil sector is volatile so there may still be opportunity
Comment: I missed the train completely with this one being a star performer today. But the oil sector is volatile so there may still be opportunity
Tomorrow
I guess a small pull back will be in order.
Where the managers are investing
Where are South Africa's top fund managers investing? And what are they saying about commodities, the rand, the local property market and the country's prospects in general? Five top fund managers detail their investment strategy.
Read Full article at mymoney.iafrica.com
Read Full article at mymoney.iafrica.com
What you should not invest in...
Avoid SA bonds and property, and prepare for only modest returns from local equity markets.
That's according to Walter Aylett, who manages the Nedbank Bravata Worldwide Flexible Fund on behalf of Nedgroup Investments. If you are going to invest in SA equities, "Stockpicking will be key," he says.
Read Full article on mymoney.iafrica.com
That's according to Walter Aylett, who manages the Nedbank Bravata Worldwide Flexible Fund on behalf of Nedgroup Investments. If you are going to invest in SA equities, "Stockpicking will be key," he says.
Read Full article on mymoney.iafrica.com
Resources fuel JSE's record run
The JSE remained rampant in noon trade on Wednesday, having roared to a record high on the back of higher commodity prices and positive world markets.
By 12:11, the all share index was up 1.13% at 25 386.79 after reaching an all-time high of 25 438.49. Resources rallied 2.3%, with the gold and platinum mining indices jumping 2.06% and 2.15% respectively. Industrials climbed 0.4% and financials firmed 0.31%, but the banks index was 0.31% in the red.
Read the Full article on FIN24.co.za
By 12:11, the all share index was up 1.13% at 25 386.79 after reaching an all-time high of 25 438.49. Resources rallied 2.3%, with the gold and platinum mining indices jumping 2.06% and 2.15% respectively. Industrials climbed 0.4% and financials firmed 0.31%, but the banks index was 0.31% in the red.
Read the Full article on FIN24.co.za
Inflation steady at 5%
The increase in South Africa's consumer price index excluding mortgage rate changes (CPIX) for metro and other areas, which is used by the South African Reserve Bank (SARB) for its inflation target, was up 5.0% year-on-year (y/y) in December, unchanged from November, Statistics South Africa (Stats SA) said on Wednesday.
Read Full Article at FIN24.co.za
Read Full Article at FIN24.co.za
Gold near 7-week high
Gold paused for breath on Wednesday after rising 2%in New York, but dealers said the next resistance of $650 may be tough to crack without further weakness in the dollar or more gains in oil.
Silver rose to its highest level in more than a month, while platinum and palladium jumped as a weak dollar encouraged buying by speculators.
Read Full Article at FIN24.co.za
Silver rose to its highest level in more than a month, while platinum and palladium jumped as a weak dollar encouraged buying by speculators.
Read Full Article at FIN24.co.za
Rand slips, eyes inflation data
South Africa's rand was trading weaker against the dollar on Wednesday but keeping within a tight range ahead of domestic consumer inflation data later in the session.
The rand stood at R7.1350/US$ at 08:50, 0.4% weaker than the New York close of R7.1050/$ on Tuesday.
Read Full article at FIN24.co.za
The rand stood at R7.1350/US$ at 08:50, 0.4% weaker than the New York close of R7.1050/$ on Tuesday.
Read Full article at FIN24.co.za
'Don't bet on Feb rate move'
Standard Bank chief economist, Goolam Ballim, says he does not expect more rate hikes in the current interest rate cycle, with even some scope for easing later this year.
Read Full article at FIN24.co.za
Read Full article at FIN24.co.za
JSE sets new record
The JSE has roared to another record high, fuelled by higher commodities prices and positive world markets.
Read Full article at FIN24.co.za
Read Full article at FIN24.co.za
Tuesday, January 23, 2007
The Five Biggest Stock Market Myths
1) Investing in stocks is just like gambling
2) The stock market is an exclusive club in which only brokers and rich people make money.
3) Fallen angels will all go back up, eventually.
4) Stocks that go up must come down.
5) Having just a little knowledge, because it is better than none, is enough to invest in the stock market.
Read Full article at investopedia.com
2) The stock market is an exclusive club in which only brokers and rich people make money.
3) Fallen angels will all go back up, eventually.
4) Stocks that go up must come down.
5) Having just a little knowledge, because it is better than none, is enough to invest in the stock market.
Read Full article at investopedia.com
Why China grows so fast
And what we can learn from Botswana which is also among the world's 11 best economies of past quarter century.
Sustained high growth in developing economies is a recent, post-World War II phenomenon. Using GDP figures, I take "high" to mean above 7% and "sustained" to mean over 25 years or more. These cutoffs are arbitrary, but a similar picture emerges with variants. Growth at these rates produces very substantial changes in incomes and wealth: Income doubles every decade at 7%.
Read Full article at Moneyweb.co.za
Sustained high growth in developing economies is a recent, post-World War II phenomenon. Using GDP figures, I take "high" to mean above 7% and "sustained" to mean over 25 years or more. These cutoffs are arbitrary, but a similar picture emerges with variants. Growth at these rates produces very substantial changes in incomes and wealth: Income doubles every decade at 7%.
Read Full article at Moneyweb.co.za
Time to buy rand: RBC Capital
It sees rand beyond R6,70 by winter; but JPMorgan disagrees, warning of weakness.International investment banks RBC Capital and JPMorgan have opposing but equally firm views on the rand; while the former says the currency will strengthen this year, JPMorgan warns of rand vulnerability, that could catapult it towards R7,80 by year-end.
Read Full article at MoneyWeb.co.za
Read Full article at MoneyWeb.co.za
Oil prices back above $53
World oil prices rallied on Tuesday, with the price of Brent crude pushing back above $53 a barrel amid higher demand for heating fuel owing to cold weather in the United States.
Read full article at FIN24.com
Read full article at FIN24.com
Gold surges up $10 on investors
Gold has gained over $10/oz as dollar and oil movements pushed it higher and investors became interested again.
Read Full article at FIN24.co.za
Read Full article at FIN24.co.za
Resources up, the rest down
This battle left the Alsi basically flat down only 0.14%. The gold mining index gained 0.92% and the platinum mining index climbed 0.54% but the resources only gained 0.21%. The rest where down with Industrials being the biggest loser down 0.86%. Banks fell 0.76% and financials down 0.44%. The rand weakened by 2 cents against the dollar to trade at 7.10 while gold also traded lower at $637.65/oz.
Other Stats
Rand-Sterling 14.1410 0.50%
Rand-Dollar 7.1100 -0.26%
Rand-Euro 9.2679 0.40%
Rand-Dollar 7.1100 -0.26%
Rand-Euro 9.2679 0.40%
Gold 643.25 1.68%
Platinum 1167.50 1.17%
Brent Oil 53.61 1.73%
Platinum 1167.50 1.17%
Brent Oil 53.61 1.73%
Current Trades
None but waiting with baited breath to get into Sasol (SOL)
Watch List
1)JSE CODE:NHM 5050 1.00%
SECTOR: Platinum & Precious Metals
Comment: Still trading way to close to its high of 5300. Will watch it for this week but am growing tiered of it.
2)JSE CODE:SOL 23199 0.52%
SECTOR: Integrated Oil & Gas
Comment: It traded up above 23100 so we are only 100 away from my target after trading below 23000 for most of the day. I still feel bearish about it but I am waiting for the bounce due to there results.
Tomorrow
It seems that our market is taking its lead from international markets so we have to keep an eye on what happens in the states tonight. Having said that I am getting my money ready to buy.
Positive outlook for platinum to 2012
RBCCM’s latest global PGM book, “Dirty Is the New Clean”, is out, with bullish news for investors
Read the full article at moneyweb.co.za
Read the full article at moneyweb.co.za
Property at prime less 3,5%
An easier and cheaper way to gear yourself to the hilt on property.
There seems to be a common misperception that the buy-to-let residential market is the easiest way to invest in property using the bank’s money.
Read Full article at moneyweb.co.za
There seems to be a common misperception that the buy-to-let residential market is the easiest way to invest in property using the bank’s money.
Read Full article at moneyweb.co.za
SA economy roaring ahead
SA's leading economic indicator has leaped to 120.7 for November 2006 from October's high of 119.5, an indication that growth is still quite spectacular.
Read full artical at fin24.co.za
Read full artical at fin24.co.za
Rand recoups overnight losses
The rand has firmed to below R7.10/$, reversing losses sustained overnight when the market was caught short dollars.
Read full article at fin24.co.za
Read full article at fin24.co.za
Monday, January 22, 2007
Dead cat bounce?
The JSE ended up 0.8% on the back of better commodity prices. Platinum lead the way up 2.59% while gold was basically unchanged at 0.01%. Banks where up 2.2%, financials 1.07% and industials 0.77%. Gold was trading at US$634.50/oz while the rand remained strong at 7.12 to the greenback.
Other Stats
Rand-Sterling 14.0088 -0.59%
Rand-Dollar 7.0963 -0.61%
Rand-Euro 9.1666 -1.05%
Gold 638.70 0.54%
Platinum 1166.00 0.65%
Brent Oil 54.09 1.22%
Platinum 1166.00 0.65%
Brent Oil 54.09 1.22%
Current Trades
Sold my BAW instalment making 14.8% including the dividend. The market opened yesterday way below my stop loss which was subsequently not triggered. This was not totally unexpected.
Watch List
1)JSE CODE:NHM 5000 -0.6%
SECTOR: Platinum & Precious Metals
Comment: Has came down about 3% in the past 2 trading sessions. Would prefer to get in at well under 5000.
2)JSE CODE:HVL 7385 1.16%
SECTOR: Steel
Comment: No instalment available that would fit into my strategy. The one with the longest expiry date is in May which is way to risky especially with the share being so thinly traded.
1)JSE CODE:NHM 5000 -0.6%
SECTOR: Platinum & Precious Metals
Comment: Has came down about 3% in the past 2 trading sessions. Would prefer to get in at well under 5000.
2)JSE CODE:HVL 7385 1.16%
SECTOR: Steel
Comment: No instalment available that would fit into my strategy. The one with the longest expiry date is in May which is way to risky especially with the share being so thinly traded.
3)JSE CODE:SOL 23080 1.67%
SECTOR: Integrated Oil & Gas
Comment: Was up today at 2% plus but ended down. Depending on what happens tomorrow I might be in with an instalment. Oil also firm over the weekend on cold weather fears.
SECTOR: Integrated Oil & Gas
Comment: Was up today at 2% plus but ended down. Depending on what happens tomorrow I might be in with an instalment. Oil also firm over the weekend on cold weather fears.
Tomorrow
I would still be short of the market as Friday proofed me right. Essentially gold since even after a rally on Friday in New York it basically did not move.
Thursday, January 18, 2007
JSE All Share end up 1% on commodity bounce
But it was held back by the firm rand. The Alsi ended at 25231.500 with the gold mining index the star performer 1.68%.The platinum mining index picked up 0.98% to help resources rally 1.45%.Industrials and financials firmed 0.54% and 0.44% respectively, while the banks index was 0.62% better. Industrials and financials firmed 0.54% and 0.44% respectively, while the banks index was 0.62% better.
The Rand firmed against the greenback to 7.16 while ended up to $626.90/oz. The market was watching out for the US CPI data.
The Rand firmed against the greenback to 7.16 while ended up to $626.90/oz. The market was watching out for the US CPI data.
Other Stats
Rand-Sterling 14.1337 0.34%
Rand-Dollar 7.1638 0.10%
Rand-Euro 9.2836 0.24%
Rand-Dollar 7.1638 0.10%
Rand-Euro 9.2836 0.24%
Gold 632.45 0.02%
Platinum 1165.00 2.01%
Brent Oil 51.51 2.41%
Platinum 1165.00 2.01%
Brent Oil 51.51 2.41%
Current Trades
Quite an boring day with BAW which ended basically flat. Well after its past run a small pause would be a good thing. My stop loss was not reached as I though it would do in the morning volatility, so I moved it up again.
JSE CODE:BAW 17770 -0.17%
SECTOR:Diversified Industrials
Watch List
1)JSE CODE:NHM 5170 0.0%
SECTOR: Platinum & Precious Metals
Comment: May be to late but will keep an eye out for dividend
2)JSE CODE:HVL 7300 0.65%
SECTOR: Steel
Comment: If I can find a share instalment with a later expiry date I am in under 7250
3)JSE CODE:SOL 23185 3.55%
SECTOR: Integrated Oil & Gas
Comment: I am in under 23000
Tomorrow
If one looks at what I said yesterday don't listen to me. However for those that just don't listen I still feel bearish.
Wednesday, January 17, 2007
JSE Alsi ends down the second day in a row
The JSE All Share ended today down 0.70% to 24980.440. Resources moved down 2.22%, the platinum mining index fell 1.01% and the gold mining index lowered by 0.24%.
Financials lost 0.27%, with the banks index fell only 0.05%. Industrials ended up 0.57% . The dollar was trading at R7.21 per dollar and Gold improved slightly from $626.60/oz to $626.90/oz.
Other Stats
Rand-Sterling 14.1445 +0.07%
Rand-Dollar 7.1712 -0.40%
Rand-Euro 9.2857 -0.52%
Gold $629.10 +0.67%
Platinum $1139.50 +0.35%
Brent Oil $51.28 -0.66%
Current Trades
Sold PPC today and made 12%. BAW is still in a strong upward trend and I am currently up 20%. I have moved my stop loss higher as to preserve more profits but I expect it to be hit tomorrow with it only being 3.9% away from being hit.
JSE CODE:BAW 17932 +3.02%
SECTOR:Diversified Industrials
Watch List
1)JSE CODE:NHM 5190 0.58%
SECTOR: Platinum & Precious Metals
Comment: May be to late but will keep an eye out for dividend
2)JSE CODE:HVL 6977 -3.1%
SECTOR: Steel
Comment: Still feeling good about it waiting for upturn.
3)JSE CODE:SOL 22750 -0.46%
SECTOR: Integrated Oil & Gas
Comment: Earning are hedge so falling oil price not a factor but the market is pricing it in.
Tomorrow
I expect the downward trend to continue in resources while local shares could offer buying opportunities. A warrant trade that is short of resources looking better while oil is falling.
Tuesday, January 16, 2007
JSE ends down 0.16% due to Resource Heavyweights
The all share indeed ended 0.16% weaker at 25,155.450. Resources retreated 1.21% but the platinum mining index perked up 1.18%. Industrials and financials firmed 0.43% and 0.69% respectively.
Other Stats
Rand-Sterling 14.1810 +0.33%
Rand-Dollar 7.2108 +0.17%
Rand-Euro 9.3500 +0.39%
Gold 624.12 -0.38%
Platinum 1143.00 -0.09%
Brent Oil 52.18 -2.38%
Current Trades
I am still busy with both the PPC and BAW trades. Things are going well with only 2% to go for PPC before I reach my target while BAW exceeded my target already and is about 15% up. I placed a stop loss on the BAW of around 7% so a nice profit is in the bag.
JSE CODE:PPC 39065 +0.22%
SECTOR:Building Materials & Fixtures
JSE CODE:BAW 17300 +1.17%
SECTOR:Diversified Industrials
Watch List
I have 3 shares on my watch list at the moment and depending on PPC and on how they are doing we might just buy.
1) JSE CODE:NHM SECTOR:Platinum & Precious Metals
Pros
Platinum's average price for 2006 was $1142/oz
Earning up around 100%
Cons
A high PE of 17 may mean the good news is priced in
Price has moved 5% already this week
2) JSE CODE:HVL SECTOR:Steel
Pros
Steel price has moved up the past month
Local demand still high
Chinese demand
Historic PE of 6.6
Cons
Price has moved down
thinly traded so big positions moves market
3) JSE CODE:SOL SECTOR:Integrated Oil & Gas
Pros
Has an hedge in place at $63 so with oil trading $52 well in the money
Technology
Big Dividends
Cons
Windfall tax issue
PE of 10 (so its fairly priced)
Other Stats
Rand-Sterling 14.1810 +0.33%
Rand-Dollar 7.2108 +0.17%
Rand-Euro 9.3500 +0.39%
Gold 624.12 -0.38%
Platinum 1143.00 -0.09%
Brent Oil 52.18 -2.38%
Current Trades
I am still busy with both the PPC and BAW trades. Things are going well with only 2% to go for PPC before I reach my target while BAW exceeded my target already and is about 15% up. I placed a stop loss on the BAW of around 7% so a nice profit is in the bag.
JSE CODE:PPC 39065 +0.22%
SECTOR:Building Materials & Fixtures
JSE CODE:BAW 17300 +1.17%
SECTOR:Diversified Industrials
Watch List
I have 3 shares on my watch list at the moment and depending on PPC and on how they are doing we might just buy.
1) JSE CODE:NHM SECTOR:Platinum & Precious Metals
Pros
Platinum's average price for 2006 was $1142/oz
Earning up around 100%
Cons
A high PE of 17 may mean the good news is priced in
Price has moved 5% already this week
2) JSE CODE:HVL SECTOR:Steel
Pros
Steel price has moved up the past month
Local demand still high
Chinese demand
Historic PE of 6.6
Cons
Price has moved down
thinly traded so big positions moves market
3) JSE CODE:SOL SECTOR:Integrated Oil & Gas
Pros
Has an hedge in place at $63 so with oil trading $52 well in the money
Technology
Big Dividends
Cons
Windfall tax issue
PE of 10 (so its fairly priced)
Well let see what happen tomorrow. I however expect the market to continue moving down on US news. Enjoy the trading :-)
Monday, January 8, 2007
JSE higher on resources
JSE higher on resourcesThe all share index closed 0.62% stronger. The all share industrial index inched 0.11% higher.
There are 2 trades I am busy with. PPC and BAW. Mostly because of the big dividends and support for BAW with the unbundled of PPC out of BAW. However I think a better strategy of shorting PPC while going long on BAW would have been better.
PPC ended the day up 0.01% while BAW ended down by 1.62% (going ex dividend)
PPC
BAW
Had some problems with the moving of my PPC and BAW share instalments from my normal trading portfolio to my Warrant portfolio. This is to reduce trading cost. I also need to make sure I get the full dividend as the only payed me the special of PPC and not the normal dividend as well.
Saturday, January 6, 2007
Holiday Blues
Hi All,
Been on holiday in Cape Town. Tasting wine and enjoying a well earned brake. Will be back next week at my normal work. Damm I not looking forward to it at all. However I the JSE is going to keep up trading down its going to be a looooong year. Well after the 35% of last year for the overall index one could have expected for it to trade lower during the new year when traders return to their desks. Last week was a week where a well planned put warrant in PPC would have made you a pretty penny.
Been on holiday in Cape Town. Tasting wine and enjoying a well earned brake. Will be back next week at my normal work. Damm I not looking forward to it at all. However I the JSE is going to keep up trading down its going to be a looooong year. Well after the 35% of last year for the overall index one could have expected for it to trade lower during the new year when traders return to their desks. Last week was a week where a well planned put warrant in PPC would have made you a pretty penny.
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