South Africa's rand started the week on a strong note on Monday and should hold largely around current levels as the market looked ahead to Wednesday's national budget announcement and the latest inflation data.
At 0705 GMT the rand was trading at 7.12115 per greenback compared to late Friday levels of around 7.20 and 0.5 percent firmer than New York's close of 7.1550.
Read more at Reuters South Africa
Sunday, February 18, 2007
Tongaat-Hulett profit up 51%
South African sugar and aluminium producer Tongaat-Hulett Group Ltd posted a 51% rise in headline earnings on Monday, in line with its own forecast, and said it expects profits to increase in the year ahead.
The firm, majority owned by mining group Anglo American plc, said headline earnings rose to R703m during the year to December 31 from R466m the previous year.
Read more at FIN24.co.za
The firm, majority owned by mining group Anglo American plc, said headline earnings rose to R703m during the year to December 31 from R466m the previous year.
Read more at FIN24.co.za
See how they bounce
Here's a list of 51 "rubber stocks" - those that have bounced by more than 100% from their one-year lows.
These performances are stellar but they are hardly isolated. Most the counters on the JSE have risen more than 50% off their one-year lows.
Now many of those that bounced are funny little things like Square One up 540% to 128c and Quyn up 309% to 90c - but a number of the bouncers are heavyweights, such as Angloplat (market cap R210bn) and Lonmin (R63bn).
Share %gain
Square One 540
Command 445
Lon Africa 445
Simmers 404
Village 334
Quyn 309
Af Dawn 271
Beige 271
Blue 250
ADC Corp 249
Basil Read 238
Simeka 228
Wearne 219
Bell 215
Sallies 212
Aquarius 206
Metmar 191
Cape Emp174
Esor 171
JSE 170
Datapro 164
Thabex 162
Metorex 160
SABVest N152
SXR Uranium One 150
Don Group 150
Read more at Moneyweb.co.za
These performances are stellar but they are hardly isolated. Most the counters on the JSE have risen more than 50% off their one-year lows.
Now many of those that bounced are funny little things like Square One up 540% to 128c and Quyn up 309% to 90c - but a number of the bouncers are heavyweights, such as Angloplat (market cap R210bn) and Lonmin (R63bn).
Share %gain
Square One 540
Command 445
Lon Africa 445
Simmers 404
Village 334
Quyn 309
Af Dawn 271
Beige 271
Blue 250
ADC Corp 249
Basil Read 238
Simeka 228
Wearne 219
Bell 215
Sallies 212
Aquarius 206
Metmar 191
Cape Emp174
Esor 171
JSE 170
Datapro 164
Thabex 162
Metorex 160
SABVest N152
SXR Uranium One 150
Don Group 150
Read more at Moneyweb.co.za
Another cut in transfer duties?
What experts expect from next week’s Budget speech
Transfer duties on property sales are expected to be reduced slightly in next week's Budget but the move will be nowhere near the significant reduction announced last year.
This is the view of many property players on what Finance Minister Trevor Manuel will state in the 11th annual Budget on February 21 2007.
Last year, Manuel increased the transfer duty threshold from R190 000 to R500 000.
Read more at MoneyWeb.co.za
Transfer duties on property sales are expected to be reduced slightly in next week's Budget but the move will be nowhere near the significant reduction announced last year.
This is the view of many property players on what Finance Minister Trevor Manuel will state in the 11th annual Budget on February 21 2007.
Last year, Manuel increased the transfer duty threshold from R190 000 to R500 000.
Read more at MoneyWeb.co.za
How to get a lower rate on your home loan
Nine points to consider when negotiating with the bank
You can save more than R220 000 if your rate is dropped from prime less 1% to prime less 2%, on a R500 000 loan, over 20 years. Here's how:
Home loan. If you have a good track record and ensure your monthly payments are on time and up to date, the bank is more likely to lower your rate. In addition, if you plan to move your mortgage bond to another bank, you will not be allowed to if you have missed a payment in the last six months.
Extra money. Any additional funds (such as a bonus or unexpected windfall), which you can deposit in to your bond, will make a difference when the bank is evaluating your rate.
Other accounts. When the bank is considering offering you a lower rate, it will check the payment profile of your other accounts, such as car finance, store cards and overdrafts. Make sure there are no amounts outstanding on your accounts, as this will affect your credit rating and your chances of the bank revising your rate.
Financial circumstances. Your rate is set on the bank's perceived risk of your financial situation and when your circumstances change, you can negotiate with the bank to adjust your rate. A change in your credit rating or a higher salary will mean the bank is more likely to lower your rate.
Property values. One of the factors used to determine your bond rate is the size of the loan compared to the value of the house. As property values rise, it will become easier to negotiate with the bank for a lower rate.
Timing. Some banks advise you to approach the bank about three or four years into your bond. By this time, most initial costs have been redeemed and the bank is in a better position to adjust your rate.
Find the rest at Moneyweb.co.za
You can save more than R220 000 if your rate is dropped from prime less 1% to prime less 2%, on a R500 000 loan, over 20 years. Here's how:
Home loan. If you have a good track record and ensure your monthly payments are on time and up to date, the bank is more likely to lower your rate. In addition, if you plan to move your mortgage bond to another bank, you will not be allowed to if you have missed a payment in the last six months.
Extra money. Any additional funds (such as a bonus or unexpected windfall), which you can deposit in to your bond, will make a difference when the bank is evaluating your rate.
Other accounts. When the bank is considering offering you a lower rate, it will check the payment profile of your other accounts, such as car finance, store cards and overdrafts. Make sure there are no amounts outstanding on your accounts, as this will affect your credit rating and your chances of the bank revising your rate.
Financial circumstances. Your rate is set on the bank's perceived risk of your financial situation and when your circumstances change, you can negotiate with the bank to adjust your rate. A change in your credit rating or a higher salary will mean the bank is more likely to lower your rate.
Property values. One of the factors used to determine your bond rate is the size of the loan compared to the value of the house. As property values rise, it will become easier to negotiate with the bank for a lower rate.
Timing. Some banks advise you to approach the bank about three or four years into your bond. By this time, most initial costs have been redeemed and the bank is in a better position to adjust your rate.
Find the rest at Moneyweb.co.za
Shake up for the property market
All estate agents will have to pass new exams
Estate agents will soon have to go through a laborious, time-consuming assessment process.
Critics worry that many will refuse to subject themselves to new measures to professionalise the business - and that could undermine competition among realtors.
The new exam, called the FET Certificate: Real Estate, is to be completed over 12 months, and the Estate Agency Affairs Board (EAAB) hopes to introduce it by July 2007.
Read more at Moneyweb.co.za
Estate agents will soon have to go through a laborious, time-consuming assessment process.
Critics worry that many will refuse to subject themselves to new measures to professionalise the business - and that could undermine competition among realtors.
The new exam, called the FET Certificate: Real Estate, is to be completed over 12 months, and the Estate Agency Affairs Board (EAAB) hopes to introduce it by July 2007.
Read more at Moneyweb.co.za
Pinpoint Takeovers First
Spotting companies that are ripe for a takeover can be a highly profitable way of investing. But to make significant returns, investors need to be invested in the takeover target before there is even a hint of a buyer. In this article, we'll show you seven ways of spotting potential takeover targets before the rest of the market.
Read the full article at investopedia.com
Read the full article at investopedia.com
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