Archive for March 10th, 2010

Chris Drummond went bicycling with Lance Armstrong in the rain. What was the chairman of Benguela Cove thinking of? And what has it to do with property? We find out…. »

The violent swings in the rand have done more damage to the economy than its absolute level, Malcolm Charles, fixed income portfolio
manager at Investec Asset Management, said on Wednesday.
For the sake of businesses in South Africa, Charles said Government should focus its efforts more on ways in which to… »

Bucking the international trend with little in the way of fresh news or economic data to provide direction for global markets, the JSE was firmer in noon trade on Wednesday, buoyed by a marginally weaker rand and firmer metal prices.
At noon the JSE all share index was up 0.61%, with… »

Jonathan Pierce, from Credit Suisse, believes UK banks will have to reduce the size of their balance sheets by as much as £530bn over the next three to four years to meet new regulations.

According to his analysis, British banks need to issue £420bn-£750bn of long-term wholesale funds. “We don’t think this is plausible and… »

Diversified financial services holding group RMB Holdings (RMBH, RMB), whose investments include FirstRand (FSR), witnessed A 22% improvement in normalised earnings from 1.353 billion rand to 1.654 billion rand for the six months ended December.
This translated into normalised earnings per share of 136.8 cents versus 111.9 cents fopr… »

The JSE saw a flat start on Wednesday, very much in tow with global markets.
The local bourse is expected to track overseas economic data out during the course of the day. At 09:19 the JSE all share index was flat, (0.01%), with platinum miners adding 0.53%,… »

Dawn H1 HEPS down 63% to 31.9c (2)
Johannesburg, Mar 10 (I-Net Bridge) - Distribution And Warehousing Network (Dawn, DAW) on Wednesday reported a 63% decline in headline earnings per share to 31.9 cents for the six months ended December 2009 from 87.1 cents a year ago. As in previous years, no… »

Johannesburg, Mar 10 (I-Net Bridge) - Metropolitan Holdings Financial Services Group (MET) on Wednesday reported diluted core headline earnings per share for the year ended December 2009 of 141 cents per share, a decline of 7% over 2008’s 151 cents.  Metropolitan declared a final dividend of 60 cents per share, 9% … »

FORCING the rand to weaken would be a “very shortsighted” move for SA to make, Dominique Strauss-Kahn, MD of the International Monetary Fund (IMF), said yesterday.

His comments come amid a heated debate on the rand’s strength. There have been mounting calls from trade unions and some business leaders to weaken the unit, after gains last… »

— Metropolitan releases annual results.
— Dawn releases interim results.
— SACCI releases February trade conditions survey.
— Primeserv releases annual results.
— RMB Holdings interims.
WHAT TO WATCH FOR:
January manufacturing and mining data are the main events to watch this week.
Investec Economist Kgotso Radira says conditions in the manufacturing sector continue to improve driven mainly by inventory… »