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Unum Market Commentary: Global Equities Firm As Dollar Weakens On Friday, the South African equity market continued to tick higher, buoyed by a general risk-on sentiment as well as a weaker US Dollar and lower US Bond Yields. On the day, the All Share Index added 1.02% while the Top 40 Index was higher by 1.17% lead by Pepkor, Glencore and Naspers while South 32, Standard Bank and South 32 weighed on the index. In Europe, equity markets were higher with the EuroStoxx50 index adding 0.29%, lead by CRH and Nokia that added 1.86% and 1.37% respectively. In the US, markets ended the week on a high note with the the Dow Jones, S&P500 and Nasdaq adding 0.52%, 0.62% and 0.86% respectively. This morning equity markets in Asia are on the front foot, with the Nikkei, Hang Seng and Shanghai Composite higher by 0.85%, 2.17% and 1.43% respectively (6:25am). JSE Major Sectors Resources 10 +0.98% Industrial 25 +1.41% Financial 15 +0.52% Join the Unum Trading Desk on Friday 7 Sep 2018 starting at 14:15 as we look to trade the EURUSD Forex pair on the NFP data. t.me In currencies, the South African Rand trades as follows: USDZAR +0.04% to 14.26 GBPZAR +0.09% to 18.33 EURZAR +0.10% to 16.58 Gold trades at $1212 Platinum at $791 Brent Crude Oil at $76.09 International Markets This morning, Asian equities are as follows: Nikkei 225 (+0.85%) Hang Seng (+2.17%) Shanghai Composite (+1.43%) Latam Markets closed as follows: Merval 25 (-5.11%) Bovespa (+0.83%) INMEX (-0.22%) Company News MMI Holdings - Trading statement for the year ended 30 June 2018 Shareholders are reminded that MMI executive management has introduced a number of recent changes to the organisation in order to focus on the practical implementation of our strategy. We have reset the business to provide a strong foundation for improved performance and future growth. We are confident that these changes will create value for shareholders in due course. Shareholders are advised that the diluted core headline earnings per share, the group's main earnings measure to monitor the operational performance of the group, is expected to decrease by between 5 and 15 percent relative to the previous year. The diluted core headline earnings expectation equates to a range from 170cps to 190cps for F2018, compared to 200cps in F2017. Diluted core headline earnings has been negatively affected during the period by various factors including increased investment in client engagement activities, higher expenditure in technology, and weaker persistency in Metropolitan Retail. Also, MMI’s share of losses increased, in line with business plans, on new initiatives such as the India joint venture. Momentum Corporate profits have improved with group underwriting results showing an improvement year-on- year, whilst good expense management also contributed to their improved result. Strong mortality and morbidity profits across the group boosted core earnings. Shareholders are further advised that the group's basic earnings per share is expected to decrease by between 5 and 15 percent (to between 84cps and 94cps) relative to 98cps earned in the comparative period. Headline earnings per share is expected to show a decrease of between 15 and 25 percent (to between 89cps and 101cps) relative to 118cps for the comparative period. Basic and headline earnings have both been negatively affected by significant basis changes in Momentum Retail and Metropolitan Retail and the weak investment markets of F2017 resulting in a lower starting asset base for the current year. Basic earnings decreased by less than headline earnings mainly due to a reduction in the impairment of intangibles compared to F2017. Note that MMI excludes fair value gains, impairment of intangibles, movement in value of MMI shares held in policyholder funds, investment variances and non-recurring items from core headline earnings whereas basic earnings include all these items. MMI will be releasing final results for the year ended 30 June 2018 on 5 September 2018. The forecast financial information contained in this trading statement to shareholders is based on information available at the time of publication and has not been reviewed and reported on by the Company’s auditors. Aus miners: BHP Billiton (+1.31%) Rio Tinto (+0.98%) S32 (+0.59%) FANGs Facebook (+1.01%) Amazon (+0.13%) Netflix (+5.79%) Google (+1.28%) FTSE Miners: Anglo American plc (+2.54%) BHP Billiton plc (+2.17%) Glencore plc (+3.30%) Alibaba Holdings (+1.16%) Tencent Holdings (+1.36%) Please feel free to contact the Unum Trading Desk for any assistance or trading related queries. Unum Trading Desk : 011 384 2929
JSE:J200
by MariusGrobler301
Unum Market Commentary: JSE Edges Higher; Rand WeakensOn Thursday a weaker South African Rand helped to boost the All Share Index by 0.14% to close the session at 52205. Despite the slight weakness in the local currency, SA-focused shares such as Shoprite, Discovery and Capitec also advanced by over 2.5% while weakness was seen in Anglo American, Mediclinic International and British American Tobacco as the shares declined by 3.20%, 2.27% and 1.69% respectively. In Europe, equity markets were slightly softer as the EuroStoxx50 index declined by 0.02%, weighed down by shares such as Bayer and Daimler. In the US, the Dow Jones, S&P500 and Nasdaq declined by 0.30%, 0.17% and 0.13% respectively. JSE Major Sectors Resources 10 -1.12% Industrial 25 +0.53% Financial 15 +0.44% Join the Unum Trading Desk on Friday 7 Sep 2018 starting at 14:15 as we look to trade the EURUSD Forex pair on the NFP data. t.me In currencies, the South African Rand trades as follows: USDZAR -0.17% to 14.37 GBPZAR -0.21% to 18.42 EURZAR -0.10% to 16.61 Gold trades at $1193 Platinum at $780 Brent Crude Oil at $75.15 International Markets This morning, Asian equities are as follows: Nikkei 225 (+0.65%) Hang Seng (-0.77%) Shanghai Composite (-0.35%) Latam Markets closed as follows: Merval 25 (-1.20%) Bovespa (-1.65%) INMEX (-0.23%) ________________________________________ Company News Discovery Holdings - Trading Statement In accordance with paragraph 3.4(b) of the JSE Listings Requirements, issuers must publish a trading statement as soon as they have a reasonable degree of certainty that earnings per share and / or headline earnings per share for the next reporting period will differ by at least 20% from that of the previous corresponding period. Shareholders are advised that: - Headline earnings per share (undiluted) for the year ended 30 June 2018 (“current period”) is expected to increase in the range of 30% to 35%, to between 888 cents and 922 cents over the prior year ended 30 June 2017 (“prior period”) (2017: 683.1 cents); and - Earnings per share (undiluted) is expected to increase in the range of 25% to 30%, to between 855 cents and 889 cents (2017: 684.2 cents) over the prior period. It is practice for the Company to issue a trading statement on “normalised” headline earnings per share, which in management’s view best represents the underlying performance of the Group. Accordingly, shareholders are advised that: - Normalised profit from operations is expected to increase by between 15% and 20% in the current period over the prior period to between R8.1 billion and R8.5 billion (2017: R7.0 billion); and - Normalised headline earnings per share (undiluted) is expected to increase in the range of 13% to 18%, to between 816 cents and 852 cents over the prior period (2017: 722.2 cents). Discovery’s results for the year are due to be released on SENS on 4 September 2018. The financial information on which this trading statement is based has not been reviewed and reported on by the Company’s external auditors. ________________________________________ Aus miners: BHP Billiton (+0.95%) Rio Tinto (-0.05%) S32 (-0.15%) FANGs Facebook (-0.43%) Amazon (-1.10%) Netflix (-1.53%) Google (-0.05%) FTSE Miners: Anglo American plc (-2.58%) BHP Billiton plc (+0.61%) Glencore plc (+0.81%) Alibaba Holdings (-3.16%) Tencent Holdings (-1.67%) Please feel free to contact the Unum trading desk with any trading related queries: 011 384 2929
JSE:J200
by MariusGrobler301
Unum Market Commentary: JSE Higher As Local Shares AdvanceLocal equity markets continued to trade strongly on Wednesday as a weaker US Dollar helped to bring relief to the battered emerging markets, which have been under significant pressure year-to-date. On the day, the iShares Emerging Markets ETF advanced by 0.79%, continuing to bounce off the YTD lows. On the JSE the All Share Index closed higher by 1.64% while the Top 40 added 1.83%. Leading the way higher was Aspen Pharmacare and Mediclinic that added 5.95% and 4.77% respectively while Quilter and Bidcorp lost 6.83% and 2.19% respectively. In Europe, the DAX was unchanged (+0.01%), while the FTSE 100 and CAC 40 added 0.11% and 0.22% respectively. JSE Major Sectors Resources 10 +1.53% Industrial 25 +2.16% Financial 15 +1.22% ________________________________________ In currencies, the South African Rand trades as follows: USDZAR +1.61% to 14.38 GBPZAR +1.35% to 18.52 EURZAR +1.24% to 16.62 Gold trades at $1198 Platinum at $788 Brent Crude Oil at $74.60 International Markets This morning, Asian equities are as follows: Nikkei 225 (+0.36%) Hang Seng (-0.35%) Shanghai Composite (-0.38%) Latam Markets closed as follows: Merval 25 (+3.07%) Bovespa (+2.29%) INMEX (+1.18%) ________________________________________ Company News Bidvest Group - Trading Statement In accordance with Section 3.4(b) (i) of the JSE Listings Requirements, listed companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported will differ by at least 20% from those of the previous corresponding period. Shareholders are advised that: - The normalised headline earnings per share (HEPS) for the year to 30 June 2018 is expected to be between 11% and 14% higher than the prior year (2017: 1 115.4 cents), translating into normalised HEPS of between 1 238 cents and 1 272 cents. Normalised HEPS, which excludes acquisition costs and amortisation of acquired customer contracts, is a measurement management uses to assess the underlying business performance. - The HEPS for the year to 30 June 2018 is expected to be between 10% and 12% higher than the prior year (2017: 1 108.2 cents), translating into HEPS of between 1 219 cents and 1 241 cents. - Basic earnings per share (EPS) for the year to 30 June 2018 is expected to be between 19% and 22% lower, translating into EPS of between 1 116 cents and 1 159 cents, when compared to the previous twelve months (2017: 1 430.3 cents). This is primarily due to a contraction in the share prices of our associates, Adcock Ingram and Comair, compared to material share price increases in the prior year. The financial information on which this trading statement is based has not been reviewed and reported on by the Group’s auditors. The Group expects its results for the year ended 30 June 2018 to be released on SENS on or about the 3rd of September 2018. ________________________________________ Aus miners: BHP Billiton (+1.26%) Rio Tinto (+0.43%) S32 (+5.67%) FANGs Facebook (+0.59%) Amazon (+1.14%) Netflix (+1.90%) Google (+0.36%) FTSE Miners: Anglo American plc (+0.91%) BHP Billiton plc (+1.58%) Glencore plc (+0.38%) Alibaba Holdings (-0.01%) Tencent Holdings (+0.17%) For any assistance or trading related queries, please contact the Unum Trading desk on 011 384 2929
JSE:J200
by MariusGrobler301
Unum Market Commentary: Global Equities Remain Bid, Dollar fadesRumblings throughout the financial markets continued on Tuesday around US Donald Trump being concerned about the Federal Reserve raising interest rates. As you may well know, higher rates in the US means a stronger US Dollar but could also spell trouble for equity markets which for nearly a decade have relied on low interest rates to borrow cheaply and fuel growth. This dollar weakness saw the Rand gain on the day, testing a one-week low of R14.27. Also on the day the All Share Index was marginally higher by 0.07% while the Top 40 added 24 points to close the session 0.05% higher. JSE Major Sectors Resources 10 -1.19% Industrial 25 +0.28% Financial 15 +1.03% In currencies, the South African Rand trades as follows: USDZAR -0.28% to 14.34 GBPZAR -0.23% to 18.52 EURZAR -0.23% to 16.61 Gold trades at $1201 Platinum at $795 Brent Crude Oil at $72.92 International Markets This morning, Asian equities are as follows: Nikkei 225 (+0.61%) Hang Seng (+0.30%) Shanghai Composite (-0.65%) Latam Markets closed as follows: Merval 25 (-0.74%) Bovespa (-1.50%) INMEX (+1.04%) Aus miners: BHP Billiton (-1.60%) Rio Tinto (-1.62%) S32 (-0.91%) FANGs Facebook (+0.07%) Amazon (+0.36%) Netflix (+3.14%) Google (-0.37%) FTSE Miners: Anglo American plc (+0.54%) BHP Billiton plc (-2.10%) Glencore plc (+0.24%) Alibaba Holdings (+0.92%) Tencent Holdings (+2.28%)
JSE:J200
by MariusGrobler301
Mike sharesIPL: FY results out today, HEPS came in the middle of guidance. Dividend up, coming in at R7.10 so overall decent. Proposed unbundling has been approved by the board and will be concluded in Q4 2018.Share price is up 1.67% to R201.50 and think medium term is a buy opportunity. Will also benefit from any strength in the ZAR. BHP Billiton: Results came out this morning, missed slightly on estimates, but announced record dividend payout of $0.63 per share, amounts to R9 at current USDZAR FX rate. Reiterated that the proceeds of the IS shale assets will be returned to shareholders once the sale has been completed. Sale was $10.8 bil, don’t think the tax will be much ( est 0.1mil ) so most of it will be returned. The sale will be completed by the end of OCT 2018, and will say how they will return it, either via share buyback or cash payment ( dividend ), I think the market will prefer the latter. Was down around 3% this morning and recovered almost half of this back. Expensive at current levels, but still think you can buy any weakness here. Obviously the GBPZAR has moved quite a bit that needs to be factored in. Target of 18pounds still comes to mind. Shoprite: Urggh, what a disappointment, usually my preferred retailer, but trading statement was a massive disappointment, and results today came in at the lower end of the trading statement guidance. Currently down 6.5% at R198, and will need to review this one. Maybe some bottom pickers out there? Above is the most important company results out today, so what else are we looking at in the market? Few shares is Last Day to trade today: L2D,MIX,MND,MNP,QLT,TWR ( anyone notice how close MND came to touching R400 yesterday? Is it time to to take some off the table? ) Did anyone buy the dip on NPN? If not, shame on you, gave you a nice opportunity I think. Yeah sure Tencent slowed down for the first time in 5 years ( or something like that ), but still a massive powerhouse in my opinion. Some downgrades coming I think, but still way below most target levels. Rhamaphoria rally is gone. So where to from now? Well stick to the names of IPL,BVT? Retailers still a sell on any strength think. Names like TRU,CLS comes to mind? Are we seeing a bit of short covering going on in BID? Keeping an eye on this one for possible short BAW, just buy it :-) ( We did, REMEMBER THIS IS JUST AN OPINION AND NOT ADVICE ) BLU: Getting killed once again on the back of Cell C results. Haven’t read it yet, heard something about a rights issue coming up? Rand is stronger today, every day is like a seesaw with this one. Obviously the market wants this trade wars going on to end now, miners will fly. Seeing more and more CEO commenting how Europe will be the main beneficiary if this trade wars continue between US and China? Nothing else too important I’m seeing today, let me know if I've missed something dramatically? Thanks Michael Porter
JSE:J200
by michaelporter
Unum Market Commentary: Global Equities Firmer on Trade Hopes South African equity markets started the week on the front foot as hope of a resolution to the trade dispute between the United States and China shifted the sentiment from bearish to slightly bullish, continuing the move higher from the middle of last week. On the day, the All Share Index added 0.88% while the Top 40 was higher by 0.99% as shares such as miner Anglo American Platinum and telecommunications giant MTN Group gain by 2.54% and 2.43% respectively. On the downside, South 32 and Sappi lost 1.27% and 1.12% respectively. On the currency front, the Rand continued to trade in it's three-day range between R14.56 and R14.75 versus the US Dollar. In Europe, stocks had a strong day with the EuroStoxx50 higher by 0.68%, with Bayer and Vivendi adding 3.04% and 2.20% on the upside. In the US, the Dow Jones Industrial Average was higher by 0.35% with Nike (+3.05%) leading the way higher. This morning Asian equities are up strongly as the bullish sentiment continues to filter through to markets. JSE Major Sectors Resources 10 +0.54% Industrial 25 +1.32% Financial 15 +0.66% In currencies, the South African Rand trades as follows: USDZAR -0.50% to 14.45 GBPZAR -0.22% to 18.54 EURZAR -0.07% to 16.66 Gold trades at $1201 Platinum at $799 Brent Crude Oil at $72.25 International Markets This morning, Asian equities are as follows: Nikkei 225 (+0.23%) Hang Seng (+0.42%) Shanghai Composite (+1.43%) Latam Markets closed as follows: Merval 25 (-2.60%) Bovespa (+0.39%) INMEX (+0.99%) Aus miners: BHP Billiton (-1.72%) Rio Tinto (-0.74%) S32 (-2.52%) FANGs Facebook (-0.75%) Amazon (-0.29%) Netflix (+3.46%) Google (+0.50%) FTSE Miners: Anglo American plc (+1.30%) BHP Billiton plc (+0.97%) Glencore plc (+0.34%) Alibaba Holdings (+2.03%) Tencent Holdings (-0.11%)
JSE:J200
by MariusGrobler301
Unum Market Commentary: JSE Recovers; Rand Remains WeakOn Friday, the South African equity markets closed in positive territory following it's mid-week slump with the All Share Index adding 0.15% for the session. The Top 40 index edge higher by 0.19% with the 19 shares closing higher while the remaining 21 saw losses. On the upside, Quilter and Amplats added 2.67% and 2.26% respectively while Bidvest and RMB Holdings lost 2.04% and 1.95%. In Europe, stocks were flat to down with the Dax and CAC40 losing 0.22% and 0.08% respectively, while the FTSE100 index added 0.08%. In the United States, stocks continued to push higher as follows: Dow 30 (+0.43%), S&P 500 (+0.33%), Nasdaq (+0.13%) and Russell 2000 (+0.46%). JSE Major Sectors Resources 10 +0.79% Industrial 25 +0.34% Financial 15 +0.90% In currencies, the South African Rand trades as follows: USDZAR +0.03% to 14.66 GBPZAR 0.00% to 18.68 EURZAR -0.03% to 16.75 Gold trades at $1192 Platinum at $790 Brent Crude Oil at $71.59 International Markets This morning, Asian equities are as follows: Nikkei 225 (-0.25%) Hang Seng (+0.96%) Shanghai Composite (+0.11%) Latam Markets closed as follows: Merval 25 (-2.60%) Bovespa (-1.03%) INMEX (+0.22%) Aus miners: BHP Billiton (+1.34%) Rio Tinto (0.11%) S32 (+0.60%) FANGs Facebook (-0.52%) Amazon (+0.23%) Netflix (-1.76%) Google (-0.67%) FTSE Miners: Anglo American plc (-0.58%) BHP Billiton plc (-0.16%) Glencore plc (+0.05%) Alibaba Holdings (+0.45%) Tencent Holdings (+2.31%) T he Unum Capital Trading Desk e-mail: customersupport@unum.co.za Tel: 011 384 2920
JSE:J200
by MariusGrobler301