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Market Commentary
The Day Ahead for Friday 28 August 2015

Wall Street ended the day in positive territory on Friday with the Dow Jones Industrial Average and the S&P500 climbing 3.95% and 3.93% respectively, rebounding from six consecutive days of declines that pushed the major averages into correction territory. Eastern markets have followed suit this morning with the Nikkei and the Hang Seng index currently up by 0.77% and 2.30% respectively. Tencent is trading in the black by 0.31% whilst BHP Billiton has gained 0.88% this morning. The Australian ASX is trading stronger by 1.32% thus far. Traders can expect a positive start to trading on our local bourse this morning.

Market Commentary
Market Commentary for Thursday 27 August 2015

The All Share Index tracked overnight US markets and also reacted to disappointing SA GDP numbers to eventually finish the session 1.27% lower. Losses were experienced across the board with the Gold Mining, Bank, Telecoms and Platinum Mining indices shedding 6.4%, 2.29%, 2.59% and 1.7% respectively. Retailers stood out as one of the few positive indexes after apparel retailers Mr Price, Foschini and Woolworths added gains of 0.63%, 0.5%, and 0.77% respectively. On the company front, Adcock Ingram Holdings released their results for the year ended 30 June 2015 in which they reported headline earnings per share of R1.60 compared to a loss of R1.00 for the 2014 period. The company declared a final dividend of 81c per share but resolved to suspend all distributions until the company regains certainty. Assore issued their results for the year ended 30 June in which they reported a headline earnings reduction of 53.3%. Assmang, which is 50% owned by Assore, delivered a 56.8% lower HEPS compared to the previous corresponding period while the group experienced a 41.6% average iron ore index decline which affected the company severely. Growthpoint released their full year results to 30 June in which they grew distributions by 7.5% while gross revenue rose by a notable 20.7%. They reported a development and capital expenditure for South Africa amounting to R1.9 billion while from a group level, realised total vacancies of 4.8%, higher than the full year 2014 reading of 4.2%. On the economic front, US mortgage applications increased by 0.20% in the week ending August 21 of 2015 over the previous week while new orders for US manufactured goods rose 2% in July from June of 2015. Crude oil stocks in the US decreased by 5.45 million barrels in the week ending August 21 of 2015. Value traded for the day was R19.80bn.

News Articles
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Fin24.com | Govt acts to stem SA’s R7bn water leaks
2015/08/28 09:15:04 PM

President Jacob Zuma has launched a campaign to train 15 000 young people to fix leaking taps in their communities.

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Fin24.com | Axed Eskom CEO gets top govt job
2015/08/28 05:46:53 PM

Cabinet has announced the appointment of former Eskom chief executive Tshediso Matona as secretary for national planning in the Department of Planning, Monitoring and Evaluation.

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Fin24.com | China's richest man on the country's growth 'fantasy'
2015/08/28 05:40:52 PM

China's richest man says government needs to give up any 'fantasy' of maintaining high economic growth rates, while Beijing grapples to contain a market meltdown.

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Fin24.com | Medupi will be running by 2019 - Cabinet
2015/08/28 04:15:10 PM

All six units of Eskom’s Medupi power station will be completed in the first half of 2019, adding another 4 764 megawatts into the national grid, says the cabinet.

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Fin24.com | Tata Steel to mothball Wales plant as tough markets persist
2015/08/28 03:38:23 PM

Tata Steel UK's largest steelmaker has said it will mothball a plant in south Wales as tough markets persist, forcing the company to focus on higher-value products.

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Fin24.com | More relief for motorists
2015/08/28 03:00:04 PM

The petrol price will go down by 69 cents a litre next week, after last month's 51c decrease, bringing much-needed relief to South African motorists.

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Fin24.com | Investors cheer Massmart trade update
2015/08/28 01:32:52 PM

Retailer Massmart has outperformed its peers after reporting total sales of R38.9bn for the 26 weeks to end-June, a 9.1% rise over the prior comparable period.

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Fin24.com | ANC does not take jobs crisis seriously - DA
2015/08/28 01:06:31 PM

Government should face the fact that South Africa’s full-blown jobs crisis is a matter of urgent public importance, says the Democratic Alliance.

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Fin24.com | Eskom to pump R163bn into transmission infrastructure
2015/08/28 12:00:28 PM

Eskom plans to spend R163bn on transmission infrastructure in the next 10 years, according to the utility's transmission development plan.

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Fin24.com | Eskom scoops top award
2015/08/28 11:18:49 AM

Eskom has been honoured for preserving the environment and harnessing the country’s natural resources, as well as for its social investment commitment.

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Fin24.com | Huge petrol price drop ahead despite rand spoiler
2015/08/28 10:46:36 AM

The petrol price could drop by between 71 and 77 cents a litre next week, but the decrease could have been 25c/litre more had the rand remained stable, says the AA.

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Fin24.com | Nene: Govt worries about hit of GDP on revenue
2015/08/28 09:39:07 AM

The government is concerned about its ability to raise revenue in the light of an economic downturn, says Finance Minister Nhlanhla Nene.

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Fin24.com | Exporters run as China growth story unravels
2015/08/28 09:31:45 AM

The alarming scale of China' s economic slowdown is pushing European exporters to accelerate a move into premium goods and services.

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Fin24.com | Corruption could cost Africa dearly
2015/08/27 09:15:01 PM

A Dutch staffing agency's withdrawal from Nigeria may indicate a larger trend as firms find it not worth the trouble to continue investing in corrupt countries.

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Fin24.com | Botswana GDP forecast cut amid diamond slump
2015/08/27 08:00:10 PM

Botswana’s gross domestic product forecast has been lowered by 2.3%, reflecting the slump in diamond prices together with reduced demand, according to Moody’s.

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Fin24.com | Monsanto drops pursuit of Swiss rival Syngenta
2015/08/27 07:00:34 PM

US agribusiness leader Monsanto has abandoned efforts to acquire Swiss rival Syngenta AG, which has rejected a recently sweetened offer.

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Fin24.com | Sale of R30m Tshwane farm could create 400 jobs
2015/08/27 06:35:12 PM

The City of Tshwane is considering selling a portion of the Groenkloof Farm in a bid to boost the local economy and create about 400 jobs, the city's council has heard.

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Fin24.com | China needs over 6 300 new planes by 2034 - Boeing
2015/08/27 06:23:40 PM

China is expected to add more than 6 300 new aircraft to its commercial fleet by 2034, US manufacturer Boeing says.

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Fin24.com | DA lays charges of corruption against Montana
2015/08/27 05:47:28 PM

The Democratic Alliance has accused axed Prasa CEO Lucky Montana of using the finances of the Passenger Rail Agency of SA as his personal piggy bank.

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Fin24.com | Alli's 'olive branch' to De Lille over Cape tolls
2015/08/27 03:02:05 PM

Sanral CEO Nazir Alli has written to the Cape Town mayor to ask for a 'win-win' solution because he believes citizens will be prejudiced by a delay in the project to upgrade roads.

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AIP
Heads up: Adcock Ingram- Review of FY15 results
2015/08/27

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MFL
Heads up: Metrofile FY15 results - good growth in a challenging environment
2015/08/27

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BIL
Heads up: BHP Billiton - FY15 results - progressive dividend remains intact
2015/08/27

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GND
Heads up: Grindrod Limited - 1H15 results for the six months ended 30 June 2015
2015/08/26

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IPL
Heads up: Imperial FY15 results - a lot more resilient than the market gave it credit for
2015/08/26

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MTA
Heads up: Metair 1H2015 results - Short-term slowdown in production offset by strong aftermarket
2015/08/25

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TRU
Heads up: Truworths - Review of FY15 results
2015/08/25

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EMI
Heads up: Emira FY15 results- Solid results in a tough environment
2015/08/24

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DST
Heads up: Distell FY15 results - Taking a longer-term view
2015/08/24

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ADI
Heads up: Adapt IT FY15 results - THIS. IS. QUALITY.
2015/08/24

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Charts Indices Currencies Metals & Brent Oil Gainers & Losers
CHARTS
International Indices
Name Value Move
DJ Ind.  16,603.79   -50.98  -0.3%
DJ Trans  7,909.54   42.82  0.5%
NASDAQ  4,833.76   21.05  0.4%
NYSE S and P500 INDEX  1,992.03   4.37  0.2%
FTSE 100  6,222.05   30.02  0.5%
XETRA DAX INDEX  6,271.85   -81.89  -1.3%
DAX INDEX  10,298.53   -17.09  -0.2%
HONG KONG HANG SENG INDEX  21,612.39   -226.15  -1.0%
NIKKEI 225 INDEX  19,136.32   561.88  3.0%
No Data at Present
Currencies
Name Value Move
ZAR/ / AUD  9.49   0.00 0.0%
ZAR/ / CHF  12.00   0.00 0.0%
USD/ / EUR  1.12   -0.01 -1.1%
ZAR/ / EUR  14.84   -0.01 -0.1%
USD/ / GB  1.54   -0.01 -0.7%
ZAR/ / GBP  20.32   0.04 0.2%
YEN/ / ZAR  9.17   9.07 8,402.6%
JPY/ / USD  121.13   -0.01 0.0%
ZAR/ / USD  13.29   0.17 1.3%
Precious Metals & Brent Oil
Name Value Move
Brent Oil  49.34   1.87 3.9%
Palladium  581.57   15.57 2.8%
Platinum  1,015.33   11.88 1.2%
Silver  14.51   -0.03 -0.2%
Gold  1,133.23   7.40 0.7%
Top 5 Gainers -- Delayed
Oasis Crescent Prop Fu  12,828.6
SABLE PLATINUM LTD  31.9
Freedom Prop Fund Ltd  26.7
Jubilee Platinum plc  18.3
Eastern Platinum Ltd  18.2
Top 5 Losers -- Delayed
Beige Holdings Limited  -33.3
Buildmax Ltd  -21.1
Forbes & Manhatt Coal  -16.7
Argent Industrial Ltd  -8.4
Oceana Group Ltd NPL  -6.5

PRICES (15 minute delay)

Satrix 40 Portfolio : STX40 4453  -12 | AFLEASE GOLD LTD : AFO 197  7 | Royal Bafokeng Platinu : RBP 3284  24 | Combined Motor Hldgs L : CMH 1800  0 | Venture Cap : J231 351  -2 |

SENS (15 minute delay)