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Market Commentary
The Day Ahead for Monday 29 June 2015

Wall Street ended the day in mixed territory on Friday with the Dow Jones Industrial Average gaining 0.32% but the S&P500 slipped 0.06%, as investors digested earnings reports and awaited resolution on Greece Debt talks. Eastern markets are trading in negative territory with the Nikkei and the Hang Seng trading lower by 2.43% and 3.42% respectively, after Greece failed to clinch a deal with its international lenders over the weekend. Tencent is trading in the red by 4.50% whilst BHP Billiton has lost 2.29% this morning. The Australian ASX is trading weaker by 2.19% thus far. Traders can expect a negative start to trading on our local bourse this morning.

Market Commentary
Market Commentary for Friday 26 June 2015

Our local bourse started the trading session in negative territory on Friday following on from weaker closes seen in Asian and US markets overnight. Our market eventually finished the session 0.35% weaker at the close, ahead of another round of reform talks between Greece and its creditors on the weekend. The stand out performer for the day was the gold mining sector, closing up by 1.71%, driven largely by Goldfields and Harmony which finished the day 3.34% and 2.42% higher. Our Banking sector lost ground throughout the day and eventually lost 1.36% by market close. Leading the downside was Firstrand which slipped 2.24% for the session. On the company front, Sephaku Holdings ltd released their financial results for the year ended 31 March 2015 which showed revenue increased by 36% from R571.5 million to R775.4 million and operating profit increased by 44% from R75.5 million to R108.9 million. Hudaco Industries Ltd released their unaudited results for the six months ended 31 May 2015 showing turnover grew by 21% to R2.5 billion and operating profit rose by 46% to R292 million. On the Economic front, the value of loans In the Euro Area increased 0.50% in May of 2015 over the same month in the previous year whilst Consumer Sentiment in the U.S increased in June to a five-month high, as an improving job market boosted American’s attitudes about the world’s largest economy. Total value traded for the day was 14.5bn.

News Articles
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Fin24.com | 5 reasons why Nersa turned down Eskom
2015/06/29 09:30:02 PM

Five reasons why Eskom failed in their bid to charge South Africans more for their electricity.

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Fin24.com | Greece will not pay IMF loan due on Tuesday - govt official
2015/06/29 08:30:04 PM

Greece will not pay a €1.6bn loan instalment due to the IMF, a Greek government official has confirmed, highlighting the depth of the financial crisis facing the country.

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Fin24.com | Putco cancels contracts in 3 municipalities
2015/06/29 07:59:39 PM

Putco will not be renewing three of its contracts with the Gauteng department of transport in parts of Tshwane, Ekurhuleni and Sedibeng municipalities as of Wednesday July 1.

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Fin24.com | Booming African education businesses boost class grades
2015/06/29 07:50:20 PM

The explosion of education businesses in Africa means that the continent could soon rival Asian countries like India as the next big hit with school investors.

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Fin24.com | Netanyahu faces crisis over Israel gas monopoly
2015/06/29 07:45:02 PM

Israeli Prime Minister Benjamin Netanyahu is facing his first major coalition crisis since his re-election, with ministers withholding support for plans to develop Israel's natural gas fields.

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Fin24.com | Eskom did not show us necessary savings - Nersa
2015/06/29 07:37:36 PM

Eskom did not show the National Energy Regulator of SA the savings it could have made from considering alternative options to an increase in electricity prices, it says.

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Fin24.com | Global stock markets slump on Greece exit fears
2015/06/29 06:50:16 PM

Global stocks have slumped amid investor concern that Greece may be heading for a eurozone exit.

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Fin24.com | Gold companies offer unions up to 13% increase
2015/06/29 06:29:33 PM

The gold sector has tabled its wage offer to mining unions, saying the offer is based on economic and social sustainability.

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Fin24.com | Steinhoff: Frankfurt listing to take place in Q4
2015/06/29 06:14:47 PM

Steinhoff International says a planned stockmarket listing in Frankfurt will probably take place in the fourth quarter of this year, subject to regulatory approvals.

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Fin24.com | Financial crisis hits SA youth the hardest
2015/06/29 05:57:29 PM

The high rate of long-term unemployment among both young people and adults reflects the mismatch between skills and available jobs, a report by Statistics SA shows.

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Fin24.com | Greek medicine supply 'may be in jeopardy'
2015/06/29 05:23:58 PM

Drugmakers say they will continue to ship medicines to Greece in coming weeks, despite mounting unpaid bills, but warn supplies could be in jeopardy if Europe does not take emergency action.

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Fin24.com | Nersa rejects Eskom's tariff hike bid - as it happened
2015/06/29 04:36:57 PM

The DA, Solidarity and the City of Cape Town have reacted to Nersa's decision to reject Eskom's tariff hike application, while the power utility says it will study the report.

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Fin24.com | Praise for Nersa's decision to reject Eskom tariff increase
2015/06/29 04:07:44 PM

Union Solidarity, the City of Cape Town and the DA have all lauded regulator Nersa for standing firm and showing independence in the face of Eskom’s demands.

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Fin24.com | Eskom to start stage 1 load shedding
2015/06/29 03:56:10 PM

Eskom will implement stage 1 load shedding, which is likely to continue until 22:00 this evening.

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Fin24.com | Greece: Euro stocks head for worst day since 2011
2015/06/29 03:54:16 PM

Euro zone stocks are heading for their biggest fall since 2011, with southern European banks in particular getting pummelled, after Greece shut its banks and imposed capital controls.

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Fin24.com | Why Nersa snubbed Eskom
2015/06/29 03:29:07 PM

Nersa's chairperson Jacob Modise has told a media briefing that there were several reasons why the energy regulator turned down Eskom's tariff hike application.

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Fin24.com | Nersa says no to Eskom tariff hikes
2015/06/29 03:20:17 PM

Eskom's request for an additional increase in electricity prices has been declined by the National Energy Regulator of SA.

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Fin24.com | Sydney's crazy housing market no mere craze
2015/06/29 03:00:09 PM

Outlandish property prices make daily headlines in Sydney - a peeling 1900s three-bed with no kitchen sink for $2m, a parking space in Kirribili for A$120 000.

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Fin24.com | Cameron sees Grexit in referendum vote
2015/06/29 02:33:34 PM

UK Prime Minister David Cameron believes it would be hard for Greece to stay in the single currency if Greeks vote to reject a deal from international creditors.

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Fin24.com | Rising water price hits Yemenis
2015/06/29 02:31:19 PM

The price of water is rising steeply in Yemen which may run out of water for its 25 million people, adding to the misery caused by Arab air strikes and the civil war.

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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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MPC
Heads up: Mr Price Group Limited - Results for the 52 weeks ended 28 March 2015
2015/06/04

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ADR
Heads up: Adcorp Ltd - FY15 results to 28 February 2015 - offshore strategy paying off
2015/06/02

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VKE
Heads up: Vukile Property Fund FY15 Results - A bigger fund
2015/05/27

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ILV
Heads up: Illovo Sugar FY15 results - Disappointing performance, and expected to get weaker
2015/05/27

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FBR
Heads up: Famous Brands FY15 results - strong balance sheet supportive of future growth
2015/05/27

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CFR
Heads up: Richemont - FY15 results review
2015/05/25

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TSH
Heads up: Tsogo Sun FY15 results
2015/05/25

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Charts Indices Currencies Metals & Brent Oil Gainers & Losers
CHARTS
International Indices
Name Value Move
DJ Ind.  17,890.36   -75.71  -0.4%
DJ Trans  8,239.58   -70.43  -0.8%
NASDAQ  5,112.19   -10.22  -0.2%
NYSE S and P500 INDEX  2,102.31   -6.27  -0.3%
FTSE 100  6,773.00   -34.82  -0.5%
XETRA DAX INDEX  6,271.85   -81.89  -1.3%
DAX INDEX  11,465.45   -7.68  -0.1%
HONG KONG HANG SENG INDEX  26,663.87   -481.88  -1.8%
NIKKEI 225 INDEX  20,706.15   -65.25  -0.3%
Major JSE Indices*
Name Value Move
OVERALL  52000   -669.83  -1.3%
TOP 40  46395   -659.45  -1.4%
ALL GOLD  1061   30.36  2.9%
INDUSTRIAL  66783   -1,120.56  -1.7%
FINANCIAL  16420   -255.67  -1.5%
RESOURCES  40800   35.70  0.1%
Delay = 15 minutes
Currencies
Name Value Move
ZAR/ / AUD  9.32   0.00 0.0%
ZAR/ / CHF  12.00   0.00 0.0%
USD/ / EUR  1.12   0.00 0.0%
ZAR/ / EUR  13.63   0.02 0.2%
USD/ / GB  1.57   0.00 0.1%
ZAR/ / GBP  19.11   0.06 0.3%
YEN/ / ZAR  10.20   10.11 10,398.0%
JPY/ / USD  123.69   0.05 0.0%
ZAR/ / USD  12.18   0.03 0.2%
Precious Metals & Brent Oil
Name Value Move
Brent Oil  63.19   -0.17 -0.3%
Palladium  676.60   -2.15 -0.3%
Platinum  1,073.56   -9.82 -0.9%
Silver  15.82   -0.06 -0.4%
Gold  1,172.55   -1.18 -0.1%
Top 5 Gainers -- Delayed
African Dawn Capital L  66.7
Nutritional Holdings L  33.3
Tawana Resources NL  33.3
SABLE PLATINUM LTD  31.9
CENMAG HOLDINGS LTD  22.0
Top 5 Losers -- Delayed
Andulela Inv Hldgs Ltd  -52.3
Sable Metals and Min L  -50.0
Beige Holdings Limited  -33.3
Forbes & Manhatt Coal  -16.7
Central Rand Gold Ltd  -15.6

PRICES (15 minute delay)

SA Industrials : ASIN 38383  353 | Allied Electronics Cor : ATN 2375  -124 | Esor Limited : ESR 26  -2 | Small Cap : SMLC 36350  302 | Lei and Hotel : J575 5860  -103 |

SENS (15 minute delay)