Archive for July, 2009

Anglogold Ashanti produced record quarterly results which are described enthusiastically by it’s CFO, Srinivisan Venkatakrishnan…Venkat to… »

July 31 (Bloomberg) — The U.S. economy shrank at a better- than-forecast 1 percent annual pace in the second quarter as a jump in government spending masked a deeper retrenchment by consumers.

The drop in gross domestic product followed a 6.4 percent contraction in the prior three months, the worst in 27 years, Commerce Department… »

Anglo results, other results, loads of data, bad headlines, record markets…another massive week described by Liston Meintjes, our market veteran, and hindered admirably by Lindsay Williams. Liston and Lindsay, Listen &… »

Pretoria, 31 July 2009 — The South African Revenue Service (SARS) today releases trade statistics for June 2009 that record a trade surplus of R3.2… »

Resources led the downside and kept the JSE weak by noon on Friday amid cautious investor trade as markets wait to get possible direction from the US this afternoon, an equities trader said…. »

Highlights of the Quarter

* Quarterly attributable production increased 1% compared to previous quarter to 98,258 PGM ounces.
* Improvements in US Dollar commodity prices, however, offset by South African Rand : Dollar exchange rate.
* On mine margins well maintained.
* Capital raising comprising equity placement, rights-issue and convertible bond completed:- gross amount raised
$270 million
* R1.6 billion (approx… »

The South African labour market took a beating as the employment base shrank 2% q/q in the second quarter amid the sharp contraction in the country’s key industries. Deteriorating employment and income conditions are severely straining families’ budgets, and as a result, workers employed by households bore a disproportionate share of the… »

SABMiller plc Trading Update
At the Annual General Meeting of SABMiller plc (SABMiller) today, Graham Mackay, chief executive of SABMiller, commented on the group’s performance for the three months ended 30 June 20091. The calculation of the organic growth rates below excludes the effects of acquisitions and disposals.
1Which constitutes SABMiller’s Interim Management Statement for the same… »

The South African rand was relatively unmoved against the dollar by midday on Friday, but could see gains later on, pushed by US GDP figures and equities according to a local trader…. »

All the major indices seem to me to be at levels which present opportunities; if you’re a BEAR, you can take solace from the extent of the recent rally and the resistance levels on the graphs. If you’re a BULL, you can argue that but for the width of a pencil drawn line we’ve broken… »