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Warrants and Share Instalments

Welcome to The Standard Bank of South Africa Limited's ("Standard Bank") Warrants website, which provides information on the warrants and share instalments issued by Standard Bank, together with general information relating to warrants and market information. Access to and use of the information provided on this website is subject to the Terms and Conditions, Privacy and Security Statement and Disclaimer.

Financial and other information relating to Standard Bank as the issuer of the warrants and share instalments as well as the terms and conditions governing the warrants and share instalments are set out in the Common Terms Document and related annexures and/or supplements. The warrants and share installments set out on this website are subject to certain selling restrictions which are documented in the Common Terms Document and related annexures and supplements. In particular warrants and share instalments may not be offered or sold within the United States of America or for the account or benefit of U.S. persons. Further restrictions may also be applicable in respect of non-residents and potential investors should ensure that they are they are familiar with all such restrictions.

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Market Report
Date Updated: 2017/04/24 08:55:02 AM

WHAT HAPPENED OVERNIGHT IN THE US:

·         S&P -0.3%, crossed 1250 for 5th time in 8 days – this time back below.

·         Yield curve held 100bps (underpin from Treasury secretary Mnuchin’s tax promise on Thurs).

·         But financials struggled again – Goldmans still reeling from numbers, and even best-in-class JPM tested 2-month low.

·         Oil also weighed. WTI back below $50 for first time in April (Brent <$52.50) on Baker Hughes rig count up for a 14th straight week – at a 2yr high. Positions again too crowded; CFTC specs had moved to multi-week highs in the week leading up to the data.

WHAT’S UP THIS MORNING IN THE EAST:

·         EUR rally on French election has helped shunt trade-weighted USD to 6-month low. Risk broadly “on”.

·         But as yet, no weak-dollar boost for commodities. Gold back below $1275 as risk recede of Le Pen presidency.

·         Japan +1%, lifted by EURJPY up two-and-half-percent. Hong Kong a bit less exciting, but Tencent +0.6% at another record high.

·         Australia +0.2%, pinned back by resources. But BHP -0.5% & Rio -0.9%, indicate flat London open, despite Dalian iron -1%, coking coal -4.5%.

SOUTH AFRICAN NEWS:

·         Expect AllShare +0.25%. From SA close Fri, gold -$10 ($1274), plat -$6 ($970), copper +0.7% ($2.57/lb), oil unch ($52.25), USDZAR -1.2% (12.99), S&P -0.1%.

·         ZAR <13, down through big figure with help from weak USD – as well as long-awaited “Liftoff” from Ramaphosa at weekend speech. Taking aim at Zuma and state capture, reports dailymaverick, the deputy president and contender for party presidency finally “ripped off his muzzle”. Addressing a Chris Hani memorial lecture in Eastern Cape, Ramaphosa repeated his criticism of Zuma’s cabinet reshuffle and called for a judicial commission of inquiry into state capture.

·         AGL: Q1 copper-equivalent prod up 9% y/y, driven by iron ore with ramp-up at Minas-Rio (+30%) and another decent performance from KIO (+17%). Metal coal also strong (+28%).

·         KIO: Sishen prod up 31%, Kolomela up 3%.

·         AMS: Q1 prod up 1% (metal-in-concentrate).

·         Also due today: DCP FY.

·         AGMs: AGL.

TODAYS KEY DATA POINTS:

·         10am: Germany April IFO

 


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