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Sharenet says suspended. ?

@JaDEB chk. the Off topic

@griffin: if you say so mate

Some sites show a zero instead of a negative.... I prefer to see negative so you can tell how badly a company sucks!

Not sucking necessarily. Take MDC with a current negative PE of 68. It's a great share, REM has a large holding.
In their case earnings were/are still negative due to a number of once-off items.

As reported in the interim results announcement on 6 November 2012, a number of
one-off items relating to the refinancing of the Groups debt occurred. Details of
a number of corporate activities were released on SENS during the year and a
summarised SENS announcement was released on 17 October 2012. The announcements
reported on the successful elective refinancing of the Groups debt and the
successful conclusion of a R5 billion rights offer, as well as the conclusion of
the buy-out of the minority interest in Emirates Healthcare (which has subsequently
been rebranded to Mediclinic and is referred to as Mediclinic Middle East hereinafter).
The one-off charges amount to R3 215m (R2 946m after tax) and comprise of the following:

- the derecognition of the mark-to-market liability relating to the Mediclinic
  Switzerland interest rate swap of R3 531m (R3 311m after tax);

- accelerated amortisation charges of capitalised financing expenses of R163m (R129m
  after tax);

- loan breakage charges of R54m (R39m after tax) relating to existing South African
  debt;

- Swiss stamp duty of R41m (R41m after tax), partially offset by a realised gain of
  R574m (R574m after tax) on foreign exchange forward contracts.

In addition, the Group results also include the following one-off items:

- a pre-acquisition Swiss tariff provision charge of R151m (R115m after tax); and

- a past service cost credit of R35m (R27m after tax) due at one of the Groups pension
  funds.

Including the one-off items, headline earnings declined by 182% to a loss of R1 007m
(2012: profit of R1 222m) and basic headline earnings per ordinary share decreased by
175% to a loss of 135.6 cents (2012: profit of 179.9 cents).

It's just confusing, and one would need to delve into the reasons.

Few posts only chat. No interaction to posts. Will stop posting soon.

Sygnia - Could this be the next Coronation?

Sygnia Group, which spun out of African Harvest in 2006, plans to list in the near future.

Sygnia, with R106 billion of assets under management, is fairly unknown in the retail asset management space, but has made significant strides in the institutional market.

The launch of a number of index-tracking unit trust funds in the retail market last year at an annual all-in fee of 0.4% took the market by storm. The funds included a DIVI Index, a Top40 Index, a SWIX Index, a listed property index and balanced funds.

She also mentions ETF's

Wierzycka says while ETFs are shares it doesn’t have the liquidity of other shares listed on the JSE where bidders and sellers match the orders and the price is determined by supply and demand.

With ETFs there isn’t a natural continuous demand and when someone wants to sell and withdraw their money they are bound by JSE rules, which means instant liquidity has to be offered even if no one else is willing to buy.

Wierzycka explains that there has to be a guarantee that each time the owner of ETFs want to sell, there will be someone that buys it, which is where market making enters the equation. The market maker is a type of “buyer of last resort” which will always buy on the day.

She says market makers are typically operators of exchange-traded funds and buy the ETFs at a price that is (around) 0.5% to 1% lower than the investor would expect.

“There is money that is being made in these ETFs, it is just completely non-transparent.”

I say it could. Astute and clever lady. 

Part of the reason why AGL was down sharply on Friday ?

Notification of major interest in shares


Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
(the "Company")


NOTIFICATION OF MAJOR INTEREST IN SHARES

The Company was advised that the following transaction took place on 6 March
2014.

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
                                                                                     Anglo American plc
of existing shares to which voting rights are
attached: ii
2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying
financial instruments
An event changing the breakdown of voting rights
Other (please specify):
                      Holding decreased below 5%                                                 x


3. Full name of person(s) subject to the notification obligation: iii
                                                                  Coronation Asset Management (Pty) Ltd

Resources.

I have said it before, commodity prices have a very close correlation to growth in China, even with an improving US economy.
The curbing of credit to Chinese corporations is worrying (but necessary).
Any even slightly negative news out of China immediately triggers a drop in resource stock prices, like today ..

The number of Chinese companies whose debt is double their equity has surged since the global financial crisis, suggesting this first onshore bond default won’t be the nation’s last. Solar-cell maker Chaori failed to pay full interest on its bonds, signaling the government will back off from bailing out companies with bad debt. Copper declined to a 15-week low and iron ore tumbled into a bear market amid concern that a slowdown in the world’s second-largest economy will curb demand.
(Source: Bloomberg)

So, I hesitate to share Orca's view that sector rotation into resources will be the 'in' thing this year. A huge amount of sector rotation out of industrials has already taken place, but will it continue for the remainder of the year ?
I still prefer GLN to some of the other resource stocks, but there are also some great non resource stocks out there, SHF, BVT, APN, MND to name a few low risk counters.