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Market Commentary
The Day Ahead for Monday 30 March 2015

Wall Street closed in the black on Friday night capping 4 straight days of losses, as investors shrugged of Q4 2014 GDP data that missed estimates. The Dow Jones Industrial Average added 0.19% while the S&P 500 gained 0.24%. Eastern markets are trading mostly higher this morning with the Nikkei stronger by 0.65% and the Hang Seng gaining 1.50%. Tencent is trading in the black by 3.03% and BHP Billiton is weaker by 2.00% in Australia this morning. The Australian ASX is trading in negative territory by 1.23% thus far. European markets are set to open slightly higher. Traders can expect a flat to slightly positive start to our local bourse this morning.

Market Commentary
Market Commentary for Friday 27 March 2015

After being range bound for the majority of the morning, the All share index surged higher in afternoon trade to eventually close 0.40% in the black, capping two days of losses. Industrials had a strong day, ending 1.28% higher. Naspers and Imperial performed well adding 2.44% and 2.55% respectively. The resources sector struggled, dropping 2.38% on the day, with gold miners Harmony and Anglo Gold Ashanti both shedding 6.25% and 3.77% respectively. On the company front, Basil Read Holdings released its provisional results for the year ended 31 December 2014 which showed that the company had incurred an after tax loss of R820.9bn which translates to a headline loss per share of 362c. Turnover for the period came in at R6.5bn. Afrimat Limited announced to shareholders that it expects basic EPS for the year ended 28 February 2015 to be between 124.5c and 135.4c, which represents an increase of between 15% and 25% on the previous financial year. PPC Limited announced to shareholders that it would not proceed with the proposed merger with Afrisam. The shares reacted positively and ended the day 5.7% stronger. Wesizwe Platinum announced that it expected a basic loss per share for the year ended 31 December 2014 of between 16.17c and 16.23c which amounted to a decrease of between 831% and 851% on the previous corresponding period. On the economic front US Q4 2014 GDP came in at 2.2% missing estimates of 2.4%. Total value traded for the day was R14.24 bn.

News Articles
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Fin24.com | Tsotsi positive of confidence vote by Eskom board
2015/03/30 07:31:20 PM

The chairperson of Eskom says he faces a vote of confidence by the utility's board, after being accused of acting improperly by suspending the chief executive.

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Fin24.com | Sanral talking to lawyers about toll ruling
2015/03/30 06:03:34 PM

Sanral will discuss the Supreme Court of Appeal ruling regarding the Cape Winelands toll roads with its legal representatives, says the roads agency.

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Fin24.com | Cape toll ruling echoes early warnings on Sanral - Outa
2015/03/30 05:07:41 PM

The latest ruling on the Cape Winelands toll project reflects concerns expressed in other judgments against Sanral over the past decade, says Outa.

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Fin24.com | Zuma distances himself from Tsotsi's comments about inquiry
2015/03/30 04:25:23 PM

President Jacob Zuma has distanced himself from comments by Eskom chairperson Zola Tsotsi, who is currently in a board meeting that could recommend his axing.

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Fin24.com | Sanral's Cape toll tariff shocker
2015/03/30 04:06:11 PM

A Cape business chamber has expressed shock after learning that the Winelands toll fees would be nearly three times higher than Gauteng's e-tolls.

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Fin24.com | Complaints against UK banks dip 7%
2015/03/30 03:15:03 PM

Complaints against Britain's banks have fallen in the second half of last year as fewer people lodged objections about insurance protection mis-selling.

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Fin24.com | Demand still strong for African oil products
2015/03/30 02:42:32 PM

African oil products demand growth has remained strong across all regions, according to an independent consultancy focusing on the African energy market.

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Fin24.com | Ramatlhodi to lift lid on mining compliance
2015/03/30 02:41:45 PM

Mineral Resources Minister Ngoako Ramatlhodi will present the government's assessment of mining industry compliance, including black ownership targets.

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Fin24.com | Fossil fuel export funding dwarfs green spend
2015/03/30 02:07:09 PM

Rich nations provided around five times as much in export subsidies for fossil-fuel technology as for renewable energy over a decade, according to OECD data seen by Reuters.

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Fin24.com | Cape Town discloses Sanral’s tolling secrets
2015/03/30 12:49:12 PM

The Supreme Court of Appeal has ruled in favour of the City of Cape Town concerning Sanral’s secrecy application.

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Fin24.com | It's high season at Germany's egg-colouring plant
2015/03/30 12:45:07 PM

Germany's egg-colouring plants are in full production mode in the weeks running up to Easter.

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Fin24.com | Rivals to focus on organic firms after Kraft deal
2015/03/30 12:09:05 PM

The macaroni and ketchup merger of Kraft Foods and HJ Heinz may prove a boon to the far smaller natural and organic food companies that have seized market share.

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Fin24.com | Total sells Nigerian oil field stake
2015/03/30 11:30:36 AM

French oil giant Total says it has sold its stake in a Nigerian oil field to a local company for $569m.

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Fin24.com | World bank admits Chinese bank pressure
2015/03/30 11:30:06 AM

A World Bank Group executive has admitted the bank is under pressure to reform as more countries are joining a new China-backed investment bank.

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Fin24.com | British Airways frequent flyer accounts hacked
2015/03/30 11:17:38 AM

British Airways says tens of thousands of its frequent flyer accounts have been hacked and that it has frozen those affected to sort the problem out.

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News24.com | SAA celebrates inaugural Abu Dhabi flight
2015/03/30 11:14:31 AM

South African Airways flight SA278 took off for the first time this weekend, opening the national carrier up to a significant expansion in intercontinental reach.

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Fin24.com | Crucial round of German pay talks under way
2015/03/30 10:15:01 AM

A fourth and concluding round of German public-sector pay negotiations have gotten under way in the town of near Berlin, with both sides willing to compromise.

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Fin24.com | US jobs to add heat to Fed lift-off debate
2015/03/30 09:46:13 AM

The state of the US labour market in March will consume economists and investors in the week leading up to Easter.

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Fin24.com | The yellow brick road to riches
2015/03/30 09:42:19 AM

Taxpayers are funding another structure with big plans but who knows what efficacy, says Mandi Smallhorne.

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Fin24.com | February credit growth slows
2015/03/30 09:34:18 AM

South Africa's private sector credit demand slowed to 8.67% year-on-year in February from an unrevised 9.15% in January, says the Reserve Bank.

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ASC
Heads up: Ascendis 1H15 results - on an aggressive growth strategy
2015/03/25

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NPN
Heads up: Naspers - Tencent FY14 results
2015/03/23

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ILA
Heads up: Iliad FY2014 results
2015/03/20

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CLR
Heads up: Clover 1H15 results - good results, headwinds remain
2015/03/20

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REM
Heads up: Remgro 1H15 results - uneventful six months
2015/03/17

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MFL
Heads up: Metrofile Holdings Limited 1H15 results….good dividend underpin
2015/03/16

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SOL
Heads up: Sasol 1H15 results - GTL shelved, ethane cracker proceeding
2015/03/16

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EOH
Heads up: EOH 1H15 results - ways surprising on the up
2015/03/16

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EXX
Heads up: Exxaro FY14 results
2015/03/12

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AVI
Heads up: AVI 1H15 results - Another solid performance from this quality operation
2015/03/11

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Charts Indices Currencies Metals & Brent Oil Gainers & Losers
CHARTS
International Indices
Name Value Move
DJ Ind.  17,977.18   264.52  1.5%
DJ Trans  8,766.43   66.09  0.8%
NASDAQ  4,932.88   41.66  0.9%
NYSE S and P500 INDEX  2,082.10   21.08  1.0%
FTSE 100  6,895.43   40.41  0.6%
XETRA DAX INDEX  6,271.85   -81.89  -1.3%
DAX INDEX  12,084.87   216.54  1.8%
HONG KONG HANG SENG INDEX  24,855.12   368.92  1.5%
NIKKEI 225 INDEX  19,411.40   125.77  0.7%
Major JSE Indices*
Name Value Move
OVERALL  52455   645.20  1.2%
TOP 40  46293   614.08  1.3%
ALL GOLD  1241   -18.64  -1.5%
INDUSTRIAL  65772   847.46  1.3%
FINANCIAL  17234   202.83  1.2%
RESOURCES  42061   656.69  1.6%
Delay = 15 minutes
Currencies
Name Value Move
ZAR/ / AUD  9.29   0.00 0.0%
ZAR/ / CHF  12.00   0.00 0.0%
USD/ / EUR  1.08   -0.01 -0.6%
ZAR/ / EUR  13.15   0.11 0.8%
USD/ / GB  1.48   -0.01 -0.4%
ZAR/ / GBP  17.95   0.18 1.0%
YEN/ / ZAR  9.93   9.83 9,810.7%
JPY/ / USD  120.10   0.88 0.7%
ZAR/ / USD  12.16   0.17 1.4%
Precious Metals & Brent Oil
Name Value Move
Brent Oil  55.48   -0.93 -1.6%
Palladium  731.55   -9.10 -1.2%
Platinum  1,118.50   -21.00 -1.8%
Silver  16.67   -0.31 -1.8%
Gold  1,184.64   -14.08 -1.2%
Top 5 Gainers -- Delayed
Telemaster Holdings Lt  184.3
Nutritional Holdings L  50.0
SABLE PLATINUM LTD  31.9
CENMAG HOLDINGS LTD  22.0
AH-Vest Limited  20.0
Top 5 Losers -- Delayed
PSV Holdings Ltd  -31.3
Forbes & Manhatt Coal  -16.7
Allied Electronics Cor  -11.9
Homechoice Int plc  -8.3
Cartrack Holdings Ltd  -7.7

PRICES (15 minute delay)

Redefine Properties Lt : RDF 1222  -2 | Silverbridge Holdings : SVB 175  0 | Db x-trackers Col in W : DBXWD 2136  6 | Lodestone REIT Limited : LDO 669  -40 | Evraz Highveld Steel & : EHS 165  0 |

SENS (15 minute delay)