Visit Sasfin's website to view "Morning Notes" 1 December 2009 notes: COMPANY NEWS: * Arcelor Mittal - said steel prices will remain unchanged for December from November levels. * Harmony - said a tramming accident occurred at Merriespruit 3 shaft, which is part of the Virginia Operations in the Free State, resulted in the death of a mineworker. * Hyprop Investments - said it would be interested in buying Dubai World's stake in the Victoria & Alfred Waterfront shopping mall in Cape Town if the state-owned company sells the holding to help repay debt. EARNINGS ANNOUNCEMENTS FROM MANAGEMENT: * Remgro - Headline earnings per share down 67,9%. H1 headline earnings per share from continuing operations down 37,1%. Remgro declared an interim dividend of 84c per share. NEWS: * Eskom Request to Increase Tariffs - have been lowered to 35%. The state power firm is due to give a briefing at 1030 GMT. * SA Trade Deficit - of R6,7bn was recorded in October, compared with a R3,87bn surplus in September. Exports were down 3,18% while imports increased by 21,92%. * Fuel for Eskom - Koeberg nuclear power plant will be provided by Westinghouse Electric Company's Swedish operations. * US Business Activity Accelerates - in November as orders climbed, signalling the economic recovery will carry through into 2010. * Australia's Interest Rates Rise - by a quarter of a percent to 3,75%. * European Consumer Prices Rise - for the first time in seven months during November, led by energy costs. * UK House Prices Rise - for a fourth month during November and mortgage approvals climbed to the highest level in 1,5 years as the economy starts to emerge from the recession. * India's Economy Expands - at the fastest pace in 1,5 years as manufacturing jumped. The economy grew by 7,9% y/y during the three months, above expectations of 6,3%.\ * UAE Central Bank Eases Credit - for lenders and said it stands behind the country's local and foreign banks as they face the prospect of rising losses from Dubai World's possible default. * Canada's Economy Grew - for the first time in four quarters in the July--through-September period. GDP expanded at a 0,4% annualized rate in the third quarter. MARKET MOVERS: * Altech +4.03%: 7750c, Bidvest +3,34%: 11984c, Simmers +3,26%: 190c, Aspen +1,8%: 6800c, Shoprite +1,04%: 6183c, Comair -10,64%: 210c, Acucap -5,66%: 2901c, Telkom -2,79%: 3732c, Anglo Gold -1,96%: 32860c, Vodacom -1,74%: 5702c. The JSE SAVI - represents the day’s implied volatility price, as quoted by market makers, for an three month (at the money) Safex Top 40 option. The pricing is compiled between 16:15 and 17:00 pm every day
