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Market Commentary
The Day Ahead for Thursday 30 July 2015

US stocks closed higher on Wednesday night, after the Federal Reserve kept rates unchanged at its latest meeting. The Dow Jones Industrial Average added 0.69%, while the S&P 500 finished 0.73% in the black. The Nasdaq closed out 0.44% higher. Eastern markets are trading mixed this morning with the Nikkei higher by 1.06% and the Hang Seng softer by 0.07%. Tencent is trading in the red by 1.43% and BHP Billiton is stronger by 2.39% in Australia this morning. The Australian ASX is trading in positive territory, up 0.83% thus far. European markets are set to open slightly higher. Traders can expect a positive start to our local bourse this morning.

Market Commentary
Market Commentary for Wednesday 29 July 2015

After opening marginally higher on Wednesday morning, the All Share Index drifted sideways for the majority of the day before a strong rally in late afternoon trade. The index eventually closed 1.65% higher. Industrials lead the charge, up 1.81% by the close, helped by index heavy weights British American Tobacco and Naspers who both added 3.27% and 1.92% respectively. Resources performed well, adding 1.80%. Diversified Miners, BHP Billiton and Anglo American both added 2.27% and 2.16% by the end of trade. On the company front, Sabvest Limited released its unaudited consolidated interim results for the six months ended 30 June 2015, showing an increase in HEPS of 309% and declaring a dividend of 21 cents. British American Tobacco published its interim results for the six months ended 30 June 2015 which indicated that revenue was up 2.40% at constant currency levels, while profit for the period was 5.90% lower as a result of adverse exchange rate movements. Capital and Counties released its interim results for the six months ended 30 June 2015 which indicated a total return of 10% for the period, and a proposed interim dividend of 0.5 pence. Datatec Limited announced the acquisition of US-based Advanced Technology Integration Group, for a total consideration of up to $42million through its subsidiary, Logicalis Inc. Barclays Africa reported unaudited consolidated interim results for the six months ended 30 June 2015 which indicated that HEPS had grown 11% to 797c, the Group declared an interim dividend of 450c per share. Curro Holdings announced to the market that it can no longer proceed with an offer for competitor Advtech, and as such lifted its cautionary. Grindrod advised shareholders that earnings for the six months ended 30 June 2015 were expected to reflect a decrease of between 54% and 58%, while HEPS reflected an increase of between 0% and 4%. The share ended the day 2.38% higher. JSE Limited announced to the market that basic EPS for the six months ended 30 June 2015 were expected to between 20% and 30% higher than the previous comparable period. On the economic front, domestic Q2 unemployment came in at 25%, beating estimates of 25.8%. Total value traded for the day was R19.50 bn.

News Articles
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Fin24.com | Inside Labour: Damaging effects of govt policies on farming
2015/07/31 06:56:17 AM

One of the unintended consequences of policies based on government wishful thinking has been to threaten South Africa’s food security, says Terry Bell.

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Fin24.com | Zim growth forecast slashed by half
2015/07/31 05:37:36 AM

Zimbabwe's finance minister has slashed the 2015 growth forecast from 3.2% to 1.5% after a slump in farm produce due to drought.

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Fin24.com | Zim gowth forecast slashed by half
2015/07/30 09:30:05 PM

Zimbabwe's finance minister has slashed the 2015 growth forecast from 3.2% to 1.5% after a slump in farm produce due to drought.

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Fin24.com | Lonmin: Victim of price falls, management wobbles
2015/07/30 08:30:02 PM

Lonmin ??is facing its deepest crisis to date, hurt by a downturn in platinum prices and haunted by a mixture of bad luck and debatable management choices.

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Fin24.com | 'Historic' Soweto home for sale for R3m
2015/07/30 08:07:15 PM

The home of the well known Soweto resident late Dr Johnny Mosendane has been placed on the residential property market for the first time.

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Fin24.com | Prince Albert, Royal Philips empower SA communities
2015/07/30 07:06:44 PM

Royal Philips and the Prince Albert II of Monaco Foundation have unveiled the first of two new Community Light Centres for South Africa.

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Fin24.com | Opportunity for insurers in Africa - SA insurance body
2015/07/30 06:27:01 PM

Africa represents an opportunity for local and global insurers, according to the Insurance Institute of South Africa’s first black woman president.

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Fin24.com | Value gain through property investment
2015/07/30 06:19:16 PM

MSCI, a provider of research-based indexes and analytics worldwide, will host the 13th IPD South Africa Property Investment Conference in August in Cape Town.

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Fin24.com | Union Resources among bidders for Amplats mine
2015/07/30 05:43:09 PM

A group of SA investors known as Union Resources has made a bid for Anglo American Platinum's Union mine, its chairperson says.

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Fin24.com | Montana cries foul about Prasa tender company
2015/07/30 05:31:55 PM

The former CEO of the Passenger Rail Agency of SA has laid a claim of fraud against a security company with ties to Prasa, reports Netwerk24.

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Fin24.com | Italtile finalising results
2015/07/30 04:32:07 PM

Italtile says its performance is attributable to continued implementation of the group’s business optimisation programme in key areas.

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Fin24.com | New planes for kulula
2015/07/30 04:26:38 PM

Kulula will soon take delivery of the fifth of six new cheaper to operate and more environmentally friendly Next Generation Boeing 737-800s it has ordered.

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Fin24.com | SA gold producers table 'final' offer to unions
2015/07/30 04:25:31 PM

South African gold producers have offered wage hikes of up to 17%, a slight increase to restive unions which have been seeking increases of up to double current levels.

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Fin24.com | Eskom to implement load shedding
2015/07/30 03:18:43 PM

Eskom says it will implement load shedding due to the power system being constrained.

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Fin24.com | Eskom to implement stage 1 load shedding
2015/07/30 03:18:24 PM

Eskom says the power system is constrained and under pressure because of a shortage of generating capacity as some of its power stations are on maintenance.

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Fin24.com | Edcon appoints new CEO amid debt restructuring
2015/07/30 01:44:26 PM

Edcon has named Bernard Brookes as its new CEO as the debt-burdened company tries to restructure its debt to repay bondholders.

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Fin24.com | 220 000 Cosatu members could strike over trains
2015/07/30 01:20:17 PM

Cosatu has announced it will embark on strike action in August "for the dismal state of the rail services in Cape Town" if stakeholders cannot solve the issues by then.

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Fin24.com | NUM signs wage deal with Northam Platinum
2015/07/30 12:38:29 PM

The National Union of Mineworkers has signed a three-year wage deal with Northam Platinum for increases of up to 17% for its lowest paid members.

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Fin24.com | Mzi Khumalo’s Metallon on comeback trail
2015/07/30 12:17:11 PM

Mzi Khumalo’s Metallon Corporation is on the comeback trail in Zimbabwe, with first-half gold production rebounding and the company revving up its Redwing mine.

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Fin24.com | Harmony Gold happy with Papua New Guinea progress
2015/07/30 12:12:15 PM

Harmony Gold has announced that additional drilling results in Papua New Guinea continue to return highly significant copper gold intercepts.

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BTI
Heads up: BTI 1H15 interim results - guidance maintained
2015/07/30

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MDC
Heads up: Mediclinic International - rights offer
2015/07/22

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CPF
Heads up: Capital Property Fund- The last chapter
2015/07/22

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WHL
Heads up: Woolworths Holdings Limited - trading update for the 52 weeks to 28 June 2015
2015/07/15

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OMN
Heads up: Omnia Ltd - FY15 results to 31 March 2015
2015/07/03

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NPN
Heads up: Naspers - Naspers FY15 results
2015/07/02

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KEH
Heads up: Keaton FY 15 results...an unfortunate stumble
2015/07/01

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INL
Heads up: Investec group - FY15 results for the twelve months ended 31 March 2015
2015/06/12

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INP
Heads up: Investec group - FY15 results for the twelve months ended 31 March 2015
2015/06/12

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TFG
Heads up: The Foschini Group - results review for the year ended 31 March 2015
2015/06/05

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Charts Indices Currencies Metals & Brent Oil Gainers & Losers
CHARTS
International Indices
Name Value Move
DJ Ind.  17,752.59   1.20  0.0%
DJ Trans  8,419.20   -1.67  0.0%
NASDAQ  5,134.00   22.27  0.4%
NYSE S and P500 INDEX  2,109.76   1.19  0.1%
FTSE 100  6,668.87   37.87  0.6%
XETRA DAX INDEX  6,271.85   -81.89  -1.3%
DAX INDEX  11,257.15   45.30  0.4%
HONG KONG HANG SENG INDEX  24,595.51   97.53  0.4%
NIKKEI 225 INDEX  20,535.15   12.32  0.1%
Major JSE Indices*
Name Value Move
OVERALL  51774   175.87  0.3%
TOP 40  46302   193.61  0.4%
ALL GOLD  808   1.50  0.2%
INDUSTRIAL  67187   401.60  0.6%
FINANCIAL  16981   -84.06  -0.5%
RESOURCES  36107   306.78  0.9%
Delay = 15 minutes
Currencies
Name Value Move
ZAR/ / AUD  9.27   0.00 0.0%
ZAR/ / CHF  12.00   0.00 0.0%
USD/ / EUR  1.09   0.00 -0.3%
ZAR/ / EUR  13.89   0.13 0.9%
USD/ / GB  1.56   0.00 0.1%
ZAR/ / GBP  19.78   0.26 1.3%
YEN/ / ZAR  9.81   9.71 9,530.6%
JPY/ / USD  123.95   -0.21 -0.2%
ZAR/ / USD  12.70   0.17 1.3%
Precious Metals & Brent Oil
Name Value Move
Brent Oil  53.17   -0.20 -0.4%
Palladium  619.88   -0.47 -0.1%
Platinum  984.60   -2.97 -0.3%
Silver  14.70   -0.04 -0.3%
Gold  1,085.15   -2.61 -0.2%
Top 5 Gainers -- Delayed
Adcock Ingram Hldgs Op  79.7
SABLE PLATINUM LTD  31.9
Delrand Resources Ltd  16.1
Sekunjalo Inv Ltd  13.0
ANOORAQ RESOURCES CORP  11.6
Top 5 Losers -- Delayed
Atlatsa Resources Corp  -25.0
IPSA Group plc  -24.5
Forbes & Manhatt Coal  -16.7
WG Wearne Ltd  -15.4
Tawana Resources NL  -14.3

PRICES (15 minute delay)

SWIX Resource 10 : JSZ0 4119  30 | Cashbuild Ltd : CSB 31000  0 | Holdsport Limited : HSP 5144  -56 | Chemicals : J135 22194  740 | Mediclinic Internat Lt : MDC 11089  189 |

SENS (15 minute delay)

| JSE : [06:31:00]: Start of Day. Group <1> - Please wait, downloading details