Mid-week snap shot

on . Posted in Financial Advice Blog

The JSE All Share Index closed higher 0.61% on Tuesday, 29th July, to reach yet another all-time high with major gains coming for the mining sector as the strikes in the metal industry have come to an end.

South Africa’s unemployment level reached a six-year high in the second quarter.

Statistics South Africa’s quarterly labour force survey showed on Tuesday that official unemployment rose for a third consecutive quarter to 25.5% or 5.2 million.

Expanded unemployment — taking into account people who have given up looking for jobs — rose to 35.6%

The IMF cut South Africa’s economic growth forecast for this year to 1.7% in its latest World Economic Outlook update, from 2.3% in April, amid Eskom’s supply constraints, repeated strikes and a weak recovery in global demand.

Reserve bank data released on Tuesday shows that Growth in credit demand from South Africa's private sector quickened to 8.69 percent year-on-year in June, from 8.34 percent in May.

Economists had expected credit growth to slow to 8.1 percent

Vodacom Group Limited - Quarterly update for the period ended 30 June 2014

Group revenue increased 4.3% (2.7%*) to R18 287 million

Group active customers grew 15.6% to 59.6 million and active data customers(1) grew 36.7% to 25.3 million

International service revenue up 17.3% (7.8 %*) supported by strong customer growth and M-Pesa

Anglo American plc - Half Year Financial Results

Improved business performance, reflecting a greater focus on mining processes and costs, underpins turnaround strategy

Higher volumes across most of the portfolio, with cash costs down 2% in real terms

Group underlying operating profit(1) of $2.9 billion for the half year, a 10% decrease

Long term net debt target of $10 to $12 billion, supported by increased operating cash flows and divestment proceeds from refocusing of portfolio

Curro Holdings Limited - Trading statement

Shareholders are hereby advised that a reasonable degree of certainty exists that the Company will report attributable and headline earnings per share of between 8.2 cents and 9.2 cents for the six months ended 30 June 2014.

The interim financial results for the six months ended 30 June 2014 are expected to be published on or about 05 August 2014.

Forthcoming dividends

SABMiller PLC – LDT 1st August (Pay Date, 15th August)

o Paying R7.18

Kumba Iron Ore – LDT 8th August (Pay Date, 18th August)

o Paying R13.27