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Týždenný prehľad zaujímavostí vo svete diamantov .

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Rapaport Weekly Market Comment Dec. 24, 2010


U.S. holiday jewelry sales +2.6%, according to MasterCard Advisors’ SpendingPulse while comScore reports jewelry website traffic soars. Polished trading firm as Far East prepares for Chinese New Year buying season. ALROSA to sell 50% minus one share in Severalmaz mining unit to Rio Tinto for $250M. Belgium’s Nov. polished exports +28% to $950M, rough imports +26% to $919M. India’s Nov polished exports +19% to $1.6B, rough imports -14% to $779M. Debswana appoints Jim Gowans managing director. Zimbabwe President Robert Mugabe calls elections in 2011 amidst talk of nationalizing diamond mines. Freddy Hanard to retire as CEO of AWDC, Ari Epstein takes post Jan. 1.


RapNet Data: Dec. 23

Diamonds 728,674
Value $4,809,775,113
Carats 819,205
Average Discount -31.15%





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RAPAPORT ANNOUNCEMENTS


Dec-Jan
27-6
Mon-Thu

Rapaport Melee Auction
December 27-January 5
Mumbai & Surat

Rapaport Single Stone Auction
January 3-6
Mumbai
Diamonds in all shapes, sizes and qualities

Tel. +91-22-6627-2618
E-mail: auctions@rapaport.com






QUOTE OF THE WEEK:
Even though the pace of recovery in the U.S. is still pretty muted, viewed from the point of view of our own businesses, the diamond business has traditionally been a late-cycle performer, if you like. So in the U.S., it's still a struggle, it's improving, but it's still nowhere near where it was in the pre-crisis times. On the other hand, sales in Asia have been nothing short of spectacular. So obviously, we would expect that when the U.S. economy does get back on its feet again properly, and assuming that nothing goes wrong to seriously interrupt the flow of improvement in the Far East, then it should be a very exciting diamond market indeed.

Robert Gannicott | Harry Winston Diamond Corp.






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









RETAIL & WHOLESALE


Rapaport Weekly Broadcast


WATCH NOW: Data from Gallup, ShopperTrak and MasterCard Advisors SpendingPulse indicate single-digit increases for Christmas retail sales so far. Online sales continue to show double-digit growth.







Online Retail Sales Maintain 12% Increase

Online retail sales from November 1 through December 19 in the U.S. have increased 12 percent to $28.36 billion, according to comScore, with growth holding steady since Thanksgiving weekend. The most recent week had online sales of $5.5 billion, an increase of 14 percent versus the same week in 2009. The final shopping weekend before Christmas reached $900 million in retail e-commerce spending, a 17 percent jump versus last year.





Jewelry Website Traffic Jumps in Nov.

According to comScore’s Media Metrix rank of the top 50 U.S. web properties this November, more than 22 million consumers visited websites promoting jewelry and/or luxury goods, a 36 percent increase compared with October. Coupon sites were the top overall ranking category and jewelry, luxury goods and accessories sites were the fastest growing retail subcategory.





United Brands Asia Forms

United Brands Worldwide formed United Brands Asia, which will focus on expanding China’s retail jewelry, diamond and precious metals markets. The company is based in the U.S. and Hong Kong and will specialize in marketing.





Christie’s Reports Record Watch Sales

Christie’s International reported that their fine and rare watch auctions realized $91.2 million in total sales in 2010— the highest annual total ever achieved for watches at the auction house. Every sale hosted in Dubai, Hong Kong, Geneva and New York achieved sell-through rates about 90 percent by value, according to Christie's.





De Beers Shifts Focus to Forevermark

De Beers is making strategic changes for its U.S. marketing in 2011 to focus on Forevermark. The Diamond Promotion Service and Diamond Information Center will cease to exist. However, JWT will continue to provide creative geared to promoting the Forevermark. An office for Forevermark U.S., Inc., a subsidiary of De Beers Global Forevermark, has been established in Stamford, Connecticut. The company is still in the exploratory stages of the brand and how it will be promoted in the U.S.





Tiffany Opens at Beverly Center LA

Tiffany & Co. opened a boutique the Beverly Center Mall, located in west Los Angeles this week. It is the second location in the area to open this year.





John Hardy Opens First Boutique

John Hardy will open its first brick-and-mortar location in Jakarta. The flagship store will have Bali-inspired décor and will carry the brand’s full collection plus select pieces from the Cinta collection.





Kristall to Receive $131M in Diamonds

Kristall expects to receive about $131 million worth of diamonds from state reserves to double its capital. The diamond cutting company experienced a shortfall in 2009, which exposed risk, and 80 percent of its assets had been described only as non-financial holdings.









GENERAL


Gowans to Manage Debswana

De Beers and Debswana appointed Jim Gowans as managing director. Since February 2010, Gowans has been responsible for the diamond mining portfolio as the chief operating and technical officer of the De Beers Group. Gowans will hold the position for three years, focusing on maximizing the value of Debswana’s resources.





Sandeep Shah Joins Hoover & Strong

Hoover & Strong appointed Sandeep Shah as the company's new diamond manager. Shah has more than 15 years of international diamond buying and grading experience.





Hanard Prepares to Retire from AWDC

Freddy J. Hanard, chief executive of the Antwerp World Diamond Centre (AWDC), will be retiring from his post on December 31 after four years in the position. Ari Epstein, who currently serves as deputy chief of AWDC and head of the Antwerp Diamond Office, will be Hanard’s successor.





Clashes in Cote d’Ivoire Continue

Concerns for a peaceful resolution in Cote d’Ivoire have deepened as violence intensifies. At the heart of the nation’s troubles, former President Laurent Gbagbo refuses to step down following the election of President Alassane Ouattara. Gbagbo has ordered U.N. peacekeepers to leave the country. The U.S. and the E.U. have placed a travel ban on Gbagbo and his top aides while France told its citizens to leave. The U.N. reported that 173 civilians have been killed in armed conflict this week.











STATS


Belgium Imports & Exports


For November 2010

Figures rounded $Mil %Chng. YTD $Mil %Chng

Polished exports $950 28% $10,100 28%
Polished imports $906 29% $9,520 30%
Net exports $44 16% $562 2%

Rough imports $919 26% $8,760 49%
Rough exports $833 1% $9,850 50%
Net imports $86 ($1,090) 65%

Net diamond acct. ($43) $1,652 32%









India Imports & Exports


For November 2010

Figures rounded $Mil %Chng. YTD $Mil %Chng

Polished exports $1,590 19% $20,850 68%
Polished imports $596 -34% $12,600 88%
Net exports $989 127% $8,250 22%

Rough imports $773 -14% $10,100 67%
Rough exports $55 -15% $825 29%
Net imports $724 -13% $9,260 72%

Net diamond acct. $217 ($1,010)











MINING


Zim to Revoke ACR Claims

Zimbabwe’s mines minister Obert Mpofu vowed to revoke mineral claims held by African Consolidated Resources (ACR), stating these had been fraudulently acquired. ACR’s Andrew Cranswick denied the assertion and will continue to defend the claims in the Marange fields as it has now for two years. Meanwhile, Zimbabwe expects to direct all rough diamond sales through its Minerals Marketing Corporation of Zimbabwe (MMCZ). The U.S. and E.U. have listed MMCZ on its list of sanctioned companies.

Given that the Kimberley Process (KP) has not yet reached a consensus on the exports of Marange goods, the Diamond Trading Company (DTC) urged its sightholders to avoid accepting or trading those stones. The United Arab Emirates (UAE) also told traders that they would allow Marange rough until an agreement was reached. The KP begins new leadership January 1, as the Democratic Republic of the Congo takes over chairmanship from Israel.





Indigenous Group Declines De Beers

The indigenous community Kitchenuhmaykoosib Inninuwug told De Beers Canada that they will not allow any mining on their land as currently proposed at Big Trout Lake, about 600 kilometers north of Thunder Bay, Ontario. The community gave the mining giant a list of issues that must be addressed before any operations ensue, including the fact that aboriginal and treaty rights must be respected and the group's own indigenous laws must be followed.





ALROSA to Sell Stake in Sveralmaz to Rio Tinto

ALROSA will reportedly discuss a deal with Rio Tinto on December 28, according to newspaper Vedomosti, to pay $250 million for 50 percent minus one share in Sveralmaz. Rio Tinto was also said to have agreed to invest $135 million in infrastructure in order to reach projected capacity of two million carats by 2015.





Lucara Completes Acquisition

Lucara Diamonds completed the acquisition of African Diamonds (AFD), and has acquired all issued and outstanding shares of AFD on the basis of 0.80 of a common share of Lucara for each AFD common share. The mining company holds full interest in the AK6 project, located in the Orapa/Letlhakane kimberlite district of Botswana.





Shear Minerals to Change Corp. Name

Shear Minerals Ltd. will trade on a consolidated basis of one new common share for every 10 shares beginning December 30 in Toronto. The company will also change its name to Shear Diamonds Ltd., but the ticker remains the same (SRM:TSXV). Shear purchased the Jericho diamond mine after its former operator filed bankruptcy and plans to begin drilling in second quarter 2011, but it will take approximately one year to reopen the mine.









ECONWATCH


For the week ending Dec. 23

Dec. 23 Dec. 16 Chng.
$1 = Euro 0.763 0.755 0.008
$1 = Rupee 45.12 45.44 -0.3
$1 = Israel Shekel 3.59 3.60 -0.01
$1 = Rand 6.75 6.85 -0.10
$1 = Canadian Dollar 1.01 1.00 0.01

Precious Metals
Gold $1,380.00 $1,369.50 $10.50
Platinum $1,713.00 $1,696.00 $17.00

Stock Indexes Chng.
BSE 19,982.88 19,864.85 118.03 0.6%
Dow Jones 11,573.49 11,499.25 74.24 0.6%
FTSE 5,996.07 5,881.12 114.95 2.0%
Hang Seng 22,902.97 22,668.78 234.19 1.0%
S&P 500 1,256.77 1,242.87 13.90 1.1%
Yahoo! Jewelry 1,019.77 1,001.64 18.13 1.8%

USA
Birks & Mayors $1.40 $1.49 -$0.09 -6.0%
Blue Nile $56.08 $55.08 $1.00 1.8%
Charles & Colvard $2.88 $2.79 $0.09 3.2%
DGSE Companies $4.48 $4.26 $0.22 5.2%
Fuqi Intl. $6.51 $6.45 $0.06 0.9%
JCPenney $32.49 $32.85 -$0.36 -1.1%
Kohl's $53.70 $54.22 -$0.52 -1.0%
LJ Intl. $3.89 $4.04 -$0.15 -3.7%
Macy's $25.16 $25.73 -$0.57 -2.2%
Man Sang $2.95 $2.95 $0.00 0.0%
Movado Group $15.91 $15.92 -$0.01 -0.1%
Nordstrom $42.78 $42.32 $0.46 1.1%
Saks $11.01 $11.67 -$0.66 -5.7%
Signet $43.07 $43.22 -$0.15 -0.3%
Sotheby's $45.57 $46.25 -$0.68 -1.5%
Tiffany $64.22 $64.61 -$0.39 -0.6%
Walmart $53.58 $54.63 -$1.05 -1.9%
Zale $4.11 $3.50 $0.61 17.4%

EUROPE
Bulgari €8.36 €8.23 €0.13 1.6%
Bijou Brigitte €106.65 €107.80 -€1.15 -1.1%
Damiani €0.82 €0.82 €0.00 0.0%
LVMH €127.35 €123.55 €3.80 3.1%
PPR €121.60 €125.25 -€3.65 -2.9%
Richemont CHF 57.00 CHF 55.90 CHF 1.10 2.0%
Swatch Group CHF 425.00 CHF 424.00 CHF 1.00 0.2%
Theo Fennell (pence) 58.00 52.40 5.60 10.7%

INDIA (rupee)
Classic Diamond 17.00 16.75 0.25 1.5%
Gitanjali Gems 197.55 210.90 -13.35 -6.3%
Goldiam Intl. 41.40 40.55 0.85 2.1%
Rajesh Exports 121.00 120.50 0.50 0.4%
Ren. Jewellery 77.40 76.60 0.80 1.0%
Su-Raj Diamonds 54.05 53.50 0.55 1.0%
Titan 3,335.25 3,407.45 -72.20 -2.1%
Zodiac JRD 24.50 24.35 0.15 0.6%
Suashish Diamonds 164.45 152.90 11.55 7.6%

NEW ZEALAND
Michael Hill NZD 0.87 NZD 0.85 NZD 0.02 2.4%

MINING STOCKS
CANADA
Harry Winston CAD 11.50 CAD 11.51 -CAD 0.01 -0.1%
Lucara Diamond CAD 0.95 CAD 0.90 CAD 0.05 5.6%
Mountain Province CAD 5.83 CAD 5.32 CAD 0.51 9.6%
Peregrine Diamonds CAD 2.61 CAD 2.41 CAD 0.20 8.3%
Rockwell Diamonds CAD 0.07 CAD 0.06 CAD 0.01 16.7%
Shore Gold CAD 0.91 CAD 0.83 CAD 0.08 9.6%
Stornoway Diamond CAD 0.62 CAD 0.63 -CAD 0.01 -1.6%
True North Gems CAD 0.16 CAD 0.15 CAD 0.01 6.7%
UK (pence)
African Diamonds 39.16 38.60 0.6 1.5%
Anglo American 3,323.00 3,123.50 199.5 6.4%
BHP Billiton 2,587.50 2,505.00 82.5 3.3%
Firestone Diamonds 30.50 26.28 4.2 16.1%
Gem Diamonds 261.00 257.25 3.8 1.5%
Gemfields 16.25 17.25 -1.0 -5.8%
Mwana Africa 9.76 10.11 -0.4 -3.5%
Namakwa Diamonds 49.00 53.00 -4.0 -7.5%
Petra Diamonds 135.75 127.00 8.8 6.9%
Rio Tinto plc 4,535.00 4,393.32 141.7 3.2%
Stellar Diamonds 9.00 7.95 1.1 13.2%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Weekly Market Comment Jan. 7, 2011


Polished diamond prices up 10.3% in 2010 following decline of 7.6% in 2009. RapNet 2010 prices for 0.50 ct. +4.1%, 1 ct. +12.3% and 3 ct. +24.6%. Prices at Rapaport Melee Auctions +57%. Rapaport estimates average rough prices +21% in 2010. Fine quality- to- mid quality 0.50-1.10 ct. polished and cheap Indian goods in short supply with strong demand for melee goods. U.S. holiday sales meets expectations and dealers hoping positive demand will extend to Far East for Chinese New Year (Feb. 3). Cutters concerned mining companies may raise rough prices following strong 4Q rough sales. Israel’s 2010 polished exports +48% to $5.8B, rough imports +51% to $3.8B. Investors start 2011 bullish as Dow reaches two-year high (11,722.89). De Beers Botswana CEO Neo Daniel Moroka recovering after lion attack.


RapNet Data: Jan. 6

Diamonds 704,445
Value $4,614,107,785
Carats 791,059
Average Discount -30.93%





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RAPAPORT ANNOUNCEMENTS


January
15-20
Sat-Thu
Rapaport at Vicenzaoro First
Fiera de Vicenza
Vicenza, Italy

Contact: Francesco Lopresti
+39-02-40047274
francesco.lopresti@diamonds.net



Jan-Feb
30-1
Sun-Tue
Rapaport at Centurion Jewelry
Tuscon, Arizona

Contact: John Colletta
+1-702-893-9400
john.colletta@diamonds.net



Jan-Feb
31-4
Mon-Fri

Rapaport Melee & Single Stone Auction
New York
Diamonds in all shapes, sizes and qualities
Tel. 1-212-354-9100

E-mail: auctions@rapaport.com






QUOTE OF THE WEEK:
The turbulence is here to stay. The [U.S.] consumer is still very sensitive to even slight fluctuations in prices [because] the consumer is still looking for deals.

David Bassuk | AlixPartners






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


Maguwu Says KP Must Stand Up to Zim

Diamond rights activist Farai Maguwu told SW Radio Africa that in order for any progress to be made, the Kimberley Process (KP) must stand up to Zimbabwe. The KP has yet to reach a consensus regarding the status of Marange diamond exports, even though the government contended that exports were approved. Maguwu also said that the definition of a blood diamond is outdated and needs to be changed to reflect current human rights issues. He added that the Democratic Republic of the Congo acting as new KP chair was a “disaster” for the diamond industry, because that country was not compliant with trade regulations.





Crisis Continues in Cote d'Ivoire

The U.N. will seek 2,000 additional troops in Côte d’Ivoire where the outgoing president refuses to step down. The additional enforcement would replace peacekeepers from the UN Mission in Liberia. The U.N. certified Alassane Ouattara as the nation's new president, however former President Laurent Gbagbo has held on to the post and demanded that the U.N. leave. Tensions remain very high and violence between supporters of both men has left many dead. Liberia meanwhile is reported to be aiding 22,000 refugees who have fled Cote d'Ivoire for their own safety.





Rapaport Weekly Broadcast

WATCH NOW: Diamond industry shareholders should remember 2010 as a banner year for retail, manufacturing and mining stocks. There were far more stock gainers than there were losers, with a number of supply-side stocks rising by triple-digits between January and December.









RETAIL & WHOLESALE


Holiday Retail Sales Rise in December

So far much of December’s retail sales figures point to low single-digit increases, but when November’s sales are taken into account, MasterCard Advisors SpendingPulse reported that Christmas season retail enjoyed 5.5 percent growth. SpendingPulse added that jewelry sales rose by 10.4 percent overall with a 5.9 percent increase in online sales. According to the International Council of Shopping Centers (ICSC), December same-store sales rose 3.1 percent and total holiday sales increased by 3.8 percent.

Online retail sales for the Christmas season rose 12 percent to $32.6 billion, according to comScore. The jewelry and watch category experienced an increase of 11 percent.

Observing jewelry buying habits, a survey by JCOC found that 25 percent of shoppers purchased jewelry during the Christmas season, up from 22 percent on 2009. Twenty-six percent of shoppers preferred department stores for their purchases, which was down from 31 percent in 2009. Twenty-three percent favored local independent jewelers, up from 15 percent one year ago. The Internet and national jewelry chains each attracted a 16 percent share. Of the 251 respondents who bought jewelry, the price-point spread was narrow with the majority of shoppers spending less than $300, and 31 percent spending between $301 and $1,000. Nine percent of the shoppers surveyed spent between $1,001 and $5,000, according to JCOC.





December Retail Summary


BJ’s sales rose 7.3 percent to $1.2 billion, while same-store sales grew 1.4 percent.
Costco sales jumped 11 percent to $9.1 billion and same-store sales increased 3 percent.
JCPenney sales grew 2.3 percent to $2.9 billion, while same-store sales rose 3.7 percent.
Kohl’s sales increased 5.9 percent to $3.1 billion, while same-store sales grew 3.9 percent.
Macy’s sales jumped 4.5 percent to $4.6 billion, and same-store sales grew 3.9 percent.
Neiman Marcus sales increased 4.9 percent to $583 million, while same-store sales rose 4.7 percent.
Nordstrom’s sales jumped 12 percent to $1.3 billion, while same-store sales grew 8.4 percent.
Saks sales increased 9.8 percent to $432 million and same-store sales rose 12 percent.






Jewelry Sales +3% in 3Q10

American Express Business Insights reported that U.S. jewelry sales rose 3 percent in the third quarter of 2010. The average jewelry receipt rose 6 percent, but the transaction volume for jewelry fell 3 percent.





Macy’s Plans to Expand E-Commerce

Macy's will invest a great deal into expanding its macys.com and bloomingdales.com support networks in the coming two years. The company expects to add nearly 3,500 full-time, part-time and seasonal holiday associates in support of the ecommerce channel along with a new fulfillment center near Martinsburg, West Virginia, and the expansion of a fulfillment center near Portland, Tennessee. In the first 10 months of fiscal 2010, online sales at Macy's rose 29 percent, up from about 20 percent in fiscal 2009 and 29 percent in fiscal 2008.





Tesco Launches Cash-for-Gold Plan

Tesco's Gold Exchange launched a buy-back program online and in at least 15 stores across the U.K. Customers can mail their unwanted gold jewelry to Tesco and if the offer is accepted, the mega retailer will issue direct payments to the customer’s bank account. Tesco said it hopes that its ethical practices will raise industry standards for the cash-for-gold business model.





Damas Adds Six Collections for Winter Season

Damas revealed six new collections for the winter season all of which are available at Damas stores in the Middle East. New lines include the Oceanique, featuring pearls; Heart to Heart tennis bracelets and D'Light, which consists of customized gold charm bracelets and funky, casual bracelets.





Helzberg Diamonds Sued for Deception

A customer of Helzberg Diamonds sued the retailer for deception, alleging that the Helzberg Diamond Collection was supposed to have used distinctive hearts and arrows, but had instead used lower priced princess-cut diamonds to boost profits. The suit claimed class-action status, which if allowed could represent customers who bought the pieces between 2005 and 2010.





580 Earns Foreign Trade Zone Designation

The U.S. Department of Commerce has designated 580 Fifth Avenue as a Foreign Trade Zone (FTZ). Tenants in the building, after their own FTZ approvals, will then be able to import and export goods under the special duty-free provisions.





Ratings Agencies Weigh Credit Facilities

CRISIL gave a 'BB+/P4+' rating to the bank facilities of Lalchand Jewellers Pvt. Ltd. of India, which reflected a weak financial risk profile and vulnerability to its operating margin and volatile gold prices. CRISIL also gave a rating of 'BB/Stable' to the bank facilities of Emaar Diamonds, which reflected the company’s weak financial risk profile and long working capital cycle.

Rating agency CARE increased the long-term ratings for the bank facilities of Arshit Gems to CARE D from CARE B.

ICRA reaffirmed an A3 rating on fund based limits of Choice Diamond. The rating affirmed the company's conservative capital structure, a diversified clientele and factors in the improvement of its financial profile.





C. Mahendra Exports Closes IPO

C. Mahendra Exports received more than 41.7 million bids against 15 million shares issued by the close of its initial public offering (IPO) on January 6. The company fixed the price band of INR 95 to INR 110 per share. Proceeds will be used for setting up facilities for diamond processing and jewelry manufacturing as well as opening retail outlets and building brand awareness.









STATS


Israel Imports & Exports


For December 2010

Figures rounded $Mil %Chng. YTD $Mil %Chng

Polished exports $439 37% $5,830 48%
Polished imports $486 39% $4,220 68%
Net exports ($47) (59%) $1,610 13%

Rough imports $366 7% $3,750 51%
Rough exports $178 3% $3,060 62%
Net imports $188 11% $695 15%

Net diamond acct. ($235) (18%) $915 2%













MINING


IGE Considers Withdrawal from Angola

IGE Resources AB might withdraw from the Luxinge diamond project in Angola. The company said that diamond recoveries and grades have not met expectations that were established earlier by bulk samples. There are also on-site operational inefficiencies.

On an unrelated note, IGE arranged a $15 million standby credit facility with Waterton Global Value L.P. The facility provides increased financial flexibility for the junior diamond explorer and helps secure financing for mining activity in southern Africa.





Zambia Awards License to Tamarisk

Tamarisk Investments, a subsidiary of Paragon Diamonds Limited and International Diamond Consultants, was granted an exploration license in eastern Zambia. The license covers approximately 862.3 square kilometers and is known to host 14 lamproite pipes within a known diamondiferous region. The license expires in November 2012, at which time it could be automatically renewed by Tamarisk for two-year periods subject to appropriate submissions and relinquishment of 50 percent of the license area each time.









ECONWATCH


For the week ending Jan. 6

Jan. 6 Dec. 30 Chng.
$1 = Euro 0.768 0.752 0.016
$1 = Rupee 45.46 44.99 0.5
$1 = Israel Shekel 3.55 3.55 0.00
$1 = Rand 6.80 6.62 0.18
$1 = Canadian Dollar 0.99 1.00 -0.01

Precious Metals
Gold $1,371.30 $1,404.90 -$33.60
Platinum $1,730.00 $1,746.00 -$16.00

Stock Indexes Chng.
BSE 20,184.74 20,389.07 -204.33 -1.0%
Dow Jones 11,697.31 11,569.71 127.60 1.1%
FTSE 6,019.51 5,971.01 48.50 0.8%
Hang Seng 23,786.30 22,999.34 786.96 3.4%
S&P 500 1,273.85 1,257.88 15.97 1.3%
Yahoo! Jewelry 1,072.96 1,090.16 -17.20 -1.6%

USA
Birks & Mayors $1.34 $1.35 -$0.01 -0.7%
Blue Nile $56.18 $58.26 -$2.08 -3.6%
Charles & Colvard $2.88 $2.90 -$0.02 -0.7%
DGSE Companies $4.50 $4.45 $0.05 1.1%
Fuqi Intl. $6.28 $6.43 -$0.15 -2.3%
JCPenney $32.06 $32.40 -$0.34 -1.0%
Kohl's $52.23 $54.50 -$2.27 -4.2%
LJ Intl. $3.85 $3.85 $0.00 0.0%
Macy's $23.97 $25.27 -$1.30 -5.1%
Man Sang $3.00 $3.09 -$0.09 -2.9%
Movado Group $15.22 $16.75 -$1.53 -9.1%
Nordstrom $42.94 $42.49 $0.45 1.1%
Saks $11.50 $10.73 $0.77 7.2%
Signet $42.11 $43.14 -$1.03 -2.4%
Sotheby's $45.05 $45.22 -$0.17 -0.4%
Tiffany $60.19 $63.14 -$2.95 -4.7%
Walmart $53.96 $54.03 -$0.07 -0.1%
Zale $3.98 $4.38 -$0.40 -9.1%

EUROPE
Bulgari €7.82 €8.09 -€0.27 -3.3%
Bijou Brigitte €116.58 €109.25 €7.33 6.7%
Damiani €0.86 €0.82 €0.04 4.9%
LVMH €121.90 €123.35 -€1.45 -1.2%
PPR €117.90 €119.90 -€2.00 -1.7%
Richemont CHF 54.70 CHF 55.00 -CHF 0.30 -0.5%
Swatch Group CHF 403.80 CHF 416.80 -CHF 13.00 -3.1%
Theo Fennell (pence) 59.40 66.78 -7.38 -11.1%

INDIA (rupee)
Classic Diamond 18.10 17.35 0.75 4.3%
Gitanjali Gems 206.05 212.60 -6.55 -3.1%
Goldiam Intl. 43.20 41.70 1.50 3.6%
Rajesh Exports 134.25 135.70 -1.45 -1.1%
Ren. Jewellery 75.80 77.70 -1.90 -2.4%
Su-Raj Diamonds 56.30 56.10 0.20 0.4%
Titan 3,574.00 3,534.40 39.60 1.1%
Zodiac JRD 24.40 25.25 -0.85 -3.4%
Suashish Diamonds 174.00 170.60 3.40 2.0%

NEW ZEALAND
Michael Hill NZD 0.89 NZD 0.88 NZD 0.01 1.1%

MINING STOCKS
CANADA
Harry Winston CAD 11.55 CAD 11.59 -CAD 0.04 -0.3%
Lucara Diamond CAD 1.00 CAD 0.94 CAD 0.06 6.4%
Mountain Province CAD 6.20 CAD 6.54 -CAD 0.34 -5.2%
Peregrine Diamonds CAD 2.57 CAD 2.50 CAD 0.07 2.8%
Rockwell Diamonds CAD 0.07 CAD 0.07 CAD 0.00 0.0%
Shore Gold CAD 0.89 CAD 0.90 -CAD 0.01 -1.1%
Stornoway Diamond CAD 0.61 CAD 0.61 CAD 0.00 0.0%
True North Gems CAD 0.17 CAD 0.15 CAD 0.02 13.3%
UK (pence)
African Diamonds 39.16 39.16 0.0 0.0%
Anglo American 3,309.50 3,386.00 -76.5 -2.3%
BHP Billiton 2,517.00 2,614.00 -97.0 -3.7%
Firestone Diamonds 33.00 30.86 2.1 6.9%
Gem Diamonds 261.25 261.00 0.3 0.1%
Gemfields 15.98 15.40 0.6 3.8%
Mwana Africa 9.82 10.00 -0.2 -1.8%
Namakwa Diamonds 52.25 49.00 3.3 6.6%
Petra Diamonds 131.50 136.50 -5.0 -3.7%
Rio Tinto plc 4,488.11 4,584.00 -95.9 -2.1%
Stellar Diamonds 11.00 12.44 -1.4 -11.6%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RAPAPORT NEWS SERVICE | JAN. 14, 2011 www.rapaport.com | news@rapaport.com


Industry Retail & Wholesale EconWatch India Mining Stats




Rapaport Weekly Market Comment Jan. 14, 2011


Cutters anticipating De Beers rough price hike after Christmas season exceeds expectations. We caution trade not to speculate. Rough price levels are too high relative to polished. Higher rough prices do not automatically translate into higher polished prices and may not be sustainable. Polished markets stable as Far East retailers complete Chinese New Year buying. Petra Diamonds FY1H revenues +44% to $90M, production -5% to 582,102 cts. Holiday Sales (Nov-Dec): Tiffany +11% to $889M, Zale Corp. +8% to $533M, Signet +6%. Top 2010 Israeli polished exporter Leviev - L.L.D. +52% to $366M.


RapNet Data: Jan. 13

Diamonds 713,772
Value $4,690,140,558
Carats 802,872
Average Discount -30.90%





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RAPAPORT ANNOUNCEMENTS


January
15-20
Sat-Thu
Rapaport at Vicenzaoro First
Fiera de Vicenza
Vicenza, Italy

Contact: Francesco Lopresti
+39-02-40047274
francesco.lopresti@diamonds.net



Jan-Feb
30-6
Sun-Sun
Rapaport at Tucson
Centurion Jewelry Show - Jan. 30-Feb. 1
AGTA GemFair - Feb. 1-6

Contact: John Colletta
+1-702-893-9400
john.colletta@diamonds.net



Jan-Feb
31-4
Mon-Fri

Rapaport Melee & Single Stone Auction
New York
Diamonds in all shapes, sizes and qualities
Tel. 1-212-354-9100

E-mail: auctions@rapaport.com






QUOTE OF THE WEEK:
We have shifted [BRR Jewellery's] operations from India to Dubai, because most of our wholesale customers are in Dubai. We are ready to pay [approximately $2 million / AED 7 million] for one showroom in the Gold Souk. Business is smooth [in Dubai] and I need not wait long to open new branches here. In India, there are many hiccups and bureaucratic hurdles.

Neesarg Ramani | BRR Jewellery






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









RETAIL & WHOLESALE


Rapaport Weekly Broadcast

WATCH NOW: Vendors at the National Retail Federation (NRF) Big Show in Manhattan were prepared to help retailers jump start growth plans in 2011. Three of them offered some immediate solutions to help arm small jewelers with tools to grow market share. Esri, which offers targeted demographic data, helps jewelers plan campaigns and inventory purchases. Multimedia Plus provides digital training solutions that also can be produced to serve client needs online. Meanwhile, ForeSee Results discusses the explosion of mobile retail shopping trends and warns retailers to address these needs head on to stay competitive.





Online Dec. Jewelry Sales +19%

According to IBM Coremetrics, online retail sales in December increased 12 percent, with the average online order rising to $190.42 from $171.06 in 2009. More importantly, the group observed that online jewelry sales jumped 18.5 percent.





Tiffany Christmas Sales +11%

Tiffany & Co. reported that sales for the months of November and December combined rose 11 percent to $888.5 million. Same-store sales rose 8 percent. Tiffany’s flagship store in Manhattan underperformed, but sales in the Americas rose 9 percent to $484.8 million; Asia Pacific sales grew 23 percent to $138.9 million and Europe sales increased 13 percent to $114.9 million.

On an unrelated note, Tiffany president James E. Quinn, plans to retire in early 2012 and the company has begun an executive search for his replacement.





Signet Group Christmas Season Sales +6%

Signet Group sales for the nine weeks that ended January 1, rose 6 percent while same-store sales rose 8.1 percent. Signet didn’t provide sale totals. At constant exchange rates, total sales rose 6.9 percent. U.S. division sales rose 10.4 percent and same-store sales rose by 11.7 percent. But in the U.K., Signet reported that total sales fell 5.3 percent on a constant exchange rate and same-store sales slipped 4.2 percent, citing long term severe weather conditions.





Zale Corp. Holiday Sales Rise 8%

Zale reported that Christmas season sales rose 8 percent to $533.1 million. Comparable store sales increased 8.5 percent year on year during the November and December period.





Theo Fennell December Sales -7%

Same-store sales at Theo Fennell in December fell 7 percent, due to several weeks of snowy weather in the U.K. before Christmas. The luxury jeweler warned investors that the company's sales and profits would miss expectations come March.





Take the Lead When Negotiating Real Estate

Stevan Buxbaum, president of Buxbaum Jewelry Advisors, explains how retailers can, and must, manage their real estate overhead in this new economy. Foremost, independent jewelers must not fear downsizing if the result improves margins elsewhere. Secondly, he advises independents to negotiate leases in their favor while carefully monitoring the future of their space as it relates to local demographics. Read the full article.





Credit Ratings: Kama Schachter and Osia Gems

CRISIL assigned an A- rating with a "stable" outlook for the Rs. 710 million cash credit facility of Kama Schachter Jewelry in India. The agency also assigned a P2+ rating on a Rs. 40.8 million standby line of credit. CRISIL reaffirmed the manufacturer's A-/stable rating on an existing Rs. 30 million term loan as well as its P2+ rating on an export packing credit of Rs. 208.7 million, which was reduced from Rs. 340 million.

Ratings agency ICRA reaffirmed an A4+ rating to the Rs 33 crore fund-based bank facilities of Osia Private Gems Limited, which exports cut and polished diamonds with associate company Chirag Diamonds. The ratings continue to factor the exporters “modest scale of operations.”





E.F.D. Partners With Sheffield for Bridal Collection

Israeli diamond manufacturer E.F.D. Ltd. partnered with designer Anna Sheffield to launch a bridal and commitment jewelry collection planned for launch in second quarter. It will at first be available only at www.AnnaSheffield.com and then later on at Sheffield’s Manhattan showroom.





Robbins Diamonds Closes Two Stores

Robbins Diamonds is closing two of its locations — one on Eighth and Walnut streets in Philadelphia and one in Allentown — due to the “bad economy,” said owner Jerry Robbins.





Helzberg Renews Agreement with Epsilon

Helzberg Diamonds renewed its agreement with Epsilon, a marketing solutions provider, who will continue to support multichannel direct marketing efforts focusing on acquiring new customers, reactivation, retention and cross-selling. Epsilon will also continue hosting and managing the jeweler's customer marketing database.





Byng Named Managing Director of Asprey

Paddy Byng has been named managing director of Asprey Holdings Limited and will assume this global role February 1. Byng was most recently the chief executive of Smythson.





U.K. Diamond Heist Nets Nearly $2M

Diamonds and jewelry worth $1.6 million (GBP 1 million) were stolen from the house of real estate tycoon Sir Lawrie Barratt. Balaclava-clad thieves overrode security, stormed the house, threatened staff, and made-off with 1,159 diamonds and rubies. Missing jewelry include a ruby and diamond suite of jewelry, diamond necklace and bracelet, ruby and diamond earrings and a diamond ring. Authorities urged the trade to be on the lookout for these items and call police immediately at 03.456.043.043 ext 69191.









STATS


Israel Polished Exports

Top 25 polished diamond exporters for 2010. Only the companies that agreed to publish export results were included in Israel's list.

Company Name Rank $Mil Chng%
L.L.D. Diamonds 1 $366 52%
Leo Schachter 2 $359 67%
M.I.D. House of Diamonds 3 $160 122%
A.A. Rachminov 4 $123
E.Z. Diamonds 5 $97 185%
Yoshfe Diamonds 6 $91 214%
Ofer Mizrahi Diamonds 7 $76 55%
Sahar Atid Diamonds 8 $71 11%
Arabov Group 9 $70 106%
Niru Diamonds 10 $68 19%
Rosy Blue 11 $67 91%
A. Schwartz & Sons Diamonds 12 $55 -10%
Kuperman Brothers Diamonds 13 $50 19%
Royal Gem 14 $49 63%
B.L.I.D. International 15 $47 81%
Segaldiam Ltd 16 $45
Eran Diamonds-Yehuda Sayag 17 $44 42%
Beta Diamonds 18 $42 45%
Jogdiam 19 $39
Waldman Diamonds 20 $36 33%
Yoram Dvash Diamonds 21 $33
Eshed Diam 22 $32 14%
Katz Chaim Precious Stones 23 $31
A.B.T. Diamonds 24 $28
Shlomo Bichaci Diamonds 25 $27










MINING


Paz Asks Bourses to Address Conflict Diamonds

World Federation of Diamond Bourses (WFDB) president Avi Paz is asking each bourse member to hold a meeting to discuss how to protect the industry’s reputation when it comes to conflict diamonds. He suggested that the rules and regulations of the WFDB be reiterated and redistributed to all members, as well as the rules and regulations of diamond imports and exports in each country.





Petra Diamonds FY1H Revenues Rise 44%

Petra Diamonds’ gross revenue from its mining operations rose 44 percent to $90 million during the six months that ended December 31, boosted by strong rough diamond prices during the year. However, production fell 5.2 percent to 582,102 carats due to a planned suspension of production from the main pit of the Williamson mine while the existing plant is being replenished, and the planned depletion of the high-grade tailings resource at Cullinan mine.





Lucara Provides Mothae Sample Update

Lucara Diamond announced that a completion of sample C8A — from the Mothae diamond mine in Lesotho — produced 1,439.85 carats and resulted in a sample grade of 2.93 carats per hundred tonnes (cpht). Lucara recovered a 48.54-carat, high quality diamond from the initial processing of sample C9A, where mining and processing will continue through February.





Shear Diamonds Appoints Two VPs

Shear Diamonds Ltd., formerly Shear Minerals, appointed Jennifer Burgess as the mining company's new vice president (VP) of exploration and Fred Mason as its new VP of operations. Burgess has 18 years of experience in the mining industry, while Mason has 27.









ECONWATCH


For the week ending Jan. 13

Jan. 13 Jan. 6 Chng.
$1 = Euro 0.749 0.768 -0.019
$1 = Rupee 45.18 45.46 -0.3
$1 = Israel Shekel 3.57 3.55 0.02
$1 = Rand 6.82 6.80 0.02
$1 = Canadian Dollar 0.99 0.99 0.00

Precious Metals
Gold $1,373.70 $1,371.30 $2.40
Platinum $1,803.00 $1,730.00 $73.00

Stock Indexes Chng.
BSE 19,182.82 20,184.74 -1,001.92 -5.0%
Dow Jones 11,731.90 11,697.31 34.59 0.3%
FTSE 6,023.88 6,019.51 4.37 0.1%
Hang Seng 24,238.98 23,786.30 452.68 1.9%
S&P 500 1,283.76 1,273.85 9.91 0.8%
Yahoo! Jewelry 1,060.09 1,072.96 -12.87 -1.2%

USA
Birks & Mayors $1.52 $1.34 $0.18 13.4%
Blue Nile $58.09 $56.18 $1.91 3.4%
Charles & Colvard $2.65 $2.88 -$0.23 -8.0%
DGSE Companies $4.57 $4.50 $0.07 1.6%
Fuqi Intl. $5.66 $6.28 -$0.62 -9.9%
JCPenney $30.61 $32.06 -$1.45 -4.5%
Kohl's $51.48 $52.23 -$0.75 -1.4%
LJ Intl. $3.91 $3.85 $0.06 1.6%
Macy's $23.00 $23.97 -$0.97 -4.0%
Man Sang $3.00 $3.00 $0.00 0.0%
Movado Group $15.47 $15.22 $0.25 1.6%
Nordstrom $41.60 $42.94 -$1.34 -3.1%
Saks $11.55 $11.50 $0.05 0.4%
Signet $42.40 $42.11 $0.29 0.7%
Sotheby's $44.83 $45.05 -$0.22 -0.5%
Tiffany $59.87 $60.19 -$0.32 -0.5%
Walmart $54.74 $53.96 $0.78 1.4%
Zale $5.73 $3.98 $1.75 44.0%

EUROPE
Bulgari €7.96 €7.82 €0.14 1.8%
Bijou Brigitte €106.63 €116.58 -€9.95 -8.5%
Damiani €0.94 €0.86 €0.08 9.3%
LVMH €118.85 €121.90 -€3.05 -2.5%
PPR €119.15 €117.90 €1.25 1.1%
Richemont CHF 57.25 CHF 54.70 CHF 2.55 4.7%
Swatch Group CHF 404.00 CHF 403.80 CHF 0.20 0.0%
Theo Fennell (pence) 61.00 59.40 1.60 2.7%

INDIA (rupee)
Classic Diamond 16.70 18.10 -1.40 -7.7%
Gitanjali Gems 189.50 206.05 -16.55 -8.0%
Goldiam Intl. 41.20 43.20 -2.00 -4.6%
Rajesh Exports 132.75 134.25 -1.50 -1.1%
Ren. Jewellery 75.65 75.80 -0.15 -0.2%
Su-Raj Diamonds 51.25 56.30 -5.05 -9.0%
Titan 3,415.80 3,574.00 -158.20 -4.4%
Zodiac JRD 24.00 24.40 -0.40 -1.6%
Suashish Diamonds 158.10 174.00 -15.90 -9.1%

NEW ZEALAND
Michael Hill NZD 0.91 NZD 0.89 NZD 0.02 2.2%

MINING STOCKS
CANADA
Harry Winston CAD 10.94 CAD 11.55 -CAD 0.61 -5.3%
Lucara Diamond CAD 0.95 CAD 1.00 -CAD 0.05 -5.0%
Mountain Province CAD 6.26 CAD 6.20 CAD 0.06 1.0%
Peregrine Diamonds CAD 2.52 CAD 2.57 -CAD 0.05 -1.9%
Rockwell Diamonds CAD 0.07 CAD 0.07 CAD 0.00 0.0%
Shore Gold CAD 0.88 CAD 0.89 -CAD 0.01 -1.1%
Stornoway Diamond CAD 0.62 CAD 0.61 CAD 0.01 1.6%
True North Gems CAD 0.17 CAD 0.17 CAD 0.00 0.0%
UK (pence)
African Diamonds 39.16 39.16 0.0 0.0%
Anglo American 3,410.00 3,309.50 100.5 3.0%
BHP Billiton 2,522.50 2,517.00 5.5 0.2%
Firestone Diamonds 32.50 33.00 -0.5 -1.5%
Gem Diamonds 262.50 261.25 1.3 0.5%
Gemfields 15.50 15.98 -0.5 -3.0%
Mwana Africa 11.25 9.82 1.4 14.6%
Namakwa Diamonds 56.46 52.25 4.2 8.1%
Petra Diamonds 165.50 131.50 34.0 25.9%
Rio Tinto plc 4,503.50 4,488.11 15.4 0.3%
Stellar Diamonds 10.05 11.00 -0.9 -8.6%










INDIA MARKET REPORT


Polished and rough trading activity
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RAPAPORT NEWS SERVICE | JAN. 21, 2011 www.rapaport.com | news@rapaport.com


Industry Retail & Wholesale EconWatch India Mining Stats




Rapaport Weekly Market Comment Jan. 21, 2011


Kimberley Process to approve exports from Zimbabwe’s Marange mines. Several million carats of stockpiled rough diamonds are expected to be released in near future. DTC Jan. sight estimated at $650M with prices stable and boxes trading at high premiums. Strong rough demand in anticipation of possible Feb. price increases. Rio Tinto 4Q production -28% to 3.199M Cts. BHP Billiton FY2Q production -11% to 676,000 Cts. Richemont FY1Q jewelry sales +30% to $1.5B. Lazare Kaplan FY2Q sales +26% to $29M. India’s Dec. polished exports +91% to $2.49B, rough imports +53% to $1.25B. Botswana grants Gope mining license to Gem Diamonds as Kalahari Bushmen file appeal for water rights.


RapNet Data: Jan. 20

Diamonds 697,672
Value $4,562,072,610
Carats 781,797
Average Discount -30.45%





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RAPAPORT ANNOUNCEMENTS


Jan-Feb
30-6
Sun-Sun
Rapaport at Tucson
Centurion Jewelry Show - Jan. 30-Feb. 1
AGTA GemFair - Feb. 1-6



Jan-Feb
31-4
Mon-Fri

Rapaport Melee & Single Stone Auction
New York
Diamonds in all shapes, sizes and qualities
Tel. 1-212-354-9100

E-mail: auctions@rapaport.com



January
31
Mon
Martin Rapaport Keynote Speech
Centurion Jewelry Show Tucson


January
31
Mon
RapNet Cocktail Event in Antwerp
RapNet Members Only
RSVP to +323 2323300






QUOTE OF THE WEEK:
[Central African Republic (CAR)] miners enduring poverty and a parasitic state are quick to join rebel groups. Meanwhile unchecked criminal networks enable fighters to profit from mining and selling diamonds illegally and continue to prey on civilians. [The Kimberley Process must] send a team to CAR with a special mandate to investigate rebel activity in eastern mining zones and advise on how to ensure exporting companies do not trade diamonds mined or sold by rebel groups.

Ned Dalby | International Crisis Group






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


Polished Diamond Prices +10% in 2010

This past year marked a recovery for the diamond market as consumer demand in India, China and the Far East increased and the U.S. experienced healthy holiday sales. Overall, polished diamond prices and trading volumes have returned to early 2008 pre-recession levels. Certified polished diamonds prices increased 10.3 percent on RapNet, with half carats up 4.1 percent, one carat up 12.3 percent and three carats up 24.6 percent. The globalization of diamond demand and the supply side management of rough diamonds by ALROSA and De Beers also influenced diamond prices. India now dominates diamond production with over 600,000 cutters, easy banking credit and a local jewelry market that is growing at about 25 percent per annum. Read the full report.





Rapaport Weekly Broadcast

WATCH NOW: The U.S. consumer price index (CPI) for jewelry hit a record high in December reflecting long term gains from gold and very strong silver and diamond prices in 2010. Rio Tinto’s diamond production fell 28 percent during its fourth quarter to 3.199 million carats. Lazare Kaplan’s net sales increased 26 percent during its second fiscal quarter to $28.9 million, but first half sales fell 36 percent.









RETAIL & WHOLESALE


U.S. December Department Store Sales -1%

U.S. department store sales in December fell 1.3 percent to $15.42 billion, which reflected weaker performance than the industry as a whole. Retail trade sales meanwhile rose 8.2 percent. The National Retail Federation (NRF) concluded that retail sales for December— minus automobiles, gas stations, and restaurants — rose 5.3 percent unadjusted from one year ago. For the two months of the Christmas shopping season, NRF stated that sales rose 5.7 percent to $462 billion.





Richemont 3Q Jewelry Revenue +30%

Richemont reported that total sales rose 33 percent to $2.81 billion during the third fiscal quarter that ended December 31. At constant exchange rates, sales rose 17 percent in Europe, 42 percent in Asia-Pacific, 17 percent in the Americas, and 3 percent in Japan. Jewelry sales rose 30 percent by actual exchange rates, to $1.5 billion, and increased 20 percent at a constant exchange rate.





Birks & Mayors’ Christmas Season Sales +8%

Birks & Mayors’ net sales during the Christmas season, as measured from October 31 through December 25, rose by 8 percent to $75.5 million. Same-store sales overall rose 4 percent, with a 7 percent increase in comparable store sales for Canada while the figure rose 2 percent for U.S. operations, mostly due to the retailer’s expansion in Canada and the country’s strong currency.





James Avery to Open in Little Rock

James Avery will open a new store in Little Rock, Arkansas, in February, making it the jeweler’s 60th U.S. location. The new store will be located in Midtowne Little Rock. The family-owned jeweler plans to open an average of five to eight new stores annually during the next five years, mostly across the southeastern U.S.





Ultra Diamonds Opens at AIRMALL Cleveland

Ultra Diamonds opened 570 square feet of retail space at the AIRMALL&reg; Cleveland Hopkins International Airport in the main terminal near Concourse B, expanding the jeweler’s presence into the busy airport.









GENERAL


Diamdel Completes 4Q Auction Cycle

Diamdel reported that fourth quarter 2010 rough sales online included 289 lots spanning goods in the -3grainers, 3-8grainers, 2-15 carat and +15 carat size ranges. Nearly 217 companies participated in the bidding and 89 firms won lots. During the second half 2010, Diamdel made available 532 lots at auction, 98 percent of which were sold.





Minnesota Bans Cadmium in Children’s Jewelry

Minnesota has become the first state to officially ban cadmium in children's jewelry, according to Manufacturing Jewelers & Suppliers of America (MJSA). The ban limits the toxic metal to 75 parts per million (ppm) in any surface coating or accessible substrate of a piece of jewelry. The state law went into effect for manufacturers on products they sell after January 1, and becomes effective for retailers after March 1. A similar law in Illinois will go into effect on July 1 and in California and Connecticut in 2012 and 2014 respectively.







Dubai Pearl Auctions Net Nearly $14M

The Dubai Pearl Exchange (DPE), a subsidiary of Dubai Multi Commodities Centre (DMCC), hosted two pearl auctions — on January 10 through 11 and January 12 through 13 — with total sales worth more than $13.5 million. More than 100 pearl traders from 20 nations attended the auctions.





Daleyot Opens First DTC Sight of the Year

Erez Daleyot, chief executive of DD Manufacturing (DDM), became the first Diamond Trading Company (DTC) sightholder and individual to open a DTC sight. He received the honor after placing the winning bid to open the January sight at a Diamond Empowerment Fund (D.E.F.) auction in London this past November. Daleyot was also treated to a behind-the-scenes tour of the DTC.





Epstein Leads AWDC

Ari Epstein officially assumed the position of chief executive officer of the Antwerp World Diamond Centre (AWDC). Epstein joined the organization in 2005 as director of the diamond office and was AWDC’s deputy CEO for two years. He is a lawyer by training, specializing in international taxation and corporate law.









STATS


India Imports & Exports


For December 2010

Figures rounded Dec. $Mil %Chng. YTD $Mil %Chng

Polished exports $2,490 91% $23,807 60%
Polished imports $2,190 140% $14,732 53%
Net exports $304 22% $9,075 74%

Rough imports $1,250 53% $10,586 62%
Rough exports $241 500% $1,079 57%
Net imports $1,010 31% $9,507 62%

Net diamond acct. ($709) (85%) ($432) (22%)







U.S. Imports & Exports

For November 2010

Figures are rounded Nov. $Mil Chng. YTD $Mil Chng.
Polished imports $1,450 21% $16,610 48%
Polished exports $1,130 19% $12,610 44%
Net imports $316 30% $4,000 60%

Rough imports $54 116% $461 82%
Rough exports $26 400% $287 70%
Net imports $28 47% $174 140%

Net diamond acct. $344 31% $4,180 63%










MINING


BHP 2Q Diamond Production -11%

BHP Billiton reported that diamond production for the second fiscal quarter at Ekati fell 11 percent to 676,000 carats. Production for three months ending December 31, was lower due to a decrease in ore processed and lower average grade. For the first fiscal half of the year, BHP recorded a diamond production drop of 10 percent to 1.379 million carats.





Rockwell Diamonds FY3Q Sales -13%

Rockwell Diamonds reported that revenues fell 13.7 percent year on year to $11.2 million in the third fiscal quarter ending November 30. The company posted a net loss of $1.2 million compared with a profit of $1.5 million. Sales fell despite a strong recovery in rough prices from its South Africa operations, up 23 percent to $1,566 per carat, as the number of carats sold declined by 16 percent to 10.045 million carats.





Gem Diamonds Receives Gope Mining License

Botswana granted Gem Diamonds a mining license to operate the Gope diamond deposit. The license is valid for 25 years while the life of mine is estimated at more than 30 years. Production at Gope is scheduled to launch in 2013, by using a phased approach to constructing the mine, including underground operations.

The region has been at the center of a campaign by Survival International, which claims the government has barred local Kalahari Bushmen from accessing water resources around the mining area. Survival International said this week an appeal hearing to decide whether the Bushmen should have the right to the water was scheduled to begin on Monday.





Lucara Expects Commissioning of AK6 by 4Q

Lucara Diamond stated that commissioning of their AK6 diamond development project in Botswana will commence by the end of this year and full production could be expected in early 2012. The mine is expected to deliver 400,000 carats of high quality diamonds in its first year of operation. Project execution is on target and on budget with commissioning scheduled to start in the fourth quarter.

On an unrelated note, Lucara will carry out a non-brokered private placement of up to an aggregate of 60 million common shares at $1 each. Net proceeds of the private placement will be used towards the development of the AK6 mine and at its Mothae diamond mine in Lesotho. Common shares issued, pursuant to the private placement, will be subject to a four-month hold period.






Damtshaa Mine to Reopen in 2012

Debswana plans to reopen its Damtshaa diamond mine in 2012 and it will operate at full capacity, the company’s public and corporate affairs manager, Esther Kanaimba-Sena, told Business Week. Damtshaa was closed in early 2009 due to the collapse in rough demand along with the company’s other mines — Jwaneng, Orapa and Letlhakane — which were reopened in late 2009





Mountain Province to Study Exploration at Kennady North

Mountain Province Diamonds plans to completed work on its Kennady North Project, which is located immediately to the north and west of the Gahcho Kue diamond project. Kennady North consists of five mining leases and eight mineral claims, an area of approximately 30,374 acres. A desktop study is currently underway to compile and review previous work on Kennady North, which will then enable Mountain Province to fast-track plans.









ECONWATCH


For the week ending Jan. 20

Jan. 20 Jan. 13 Chng.
$1 = Euro 0.743 0.749 -0.006
$1 = Rupee 45.75 45.18 0.6
$1 = Israel Shekel 3.61 3.57 0.04
$1 = Rand 7.07 6.82 0.25
$1 = Canadian Dollar 1.00 0.99 0.01

Precious Metals
Gold $1,345.60 $1,373.70 -$28.10
Platinum $1,809.00 $1,803.00 $6.00

Stock Indexes Chng.
BSE 19,046.54 19,182.82 -136.28 -0.7%
Dow Jones 11,822.87 11,731.90 90.97 0.8%
FTSE 5,867.91 6,023.88 -155.97 -2.6%
Hang Seng 24,003.70 24,238.98 -235.28 -1.0%
S&P 500 1,280.26 1,283.76 -3.50 -0.3%
Yahoo! Jewelry 1,039.35 1,060.09 -20.74 -2.0%

USA
Birks & Mayors $1.40 $1.52 -$0.12 -7.9%
Blue Nile $59.97 $58.09 $1.88 3.2%
Charles & Colvard $2.57 $2.65 -$0.08 -3.0%
DGSE Companies $4.40 $4.57 -$0.17 -3.7%
Fuqi Intl. $5.74 $5.66 $0.08 1.4%
JCPenney $30.11 $30.61 -$0.50 -1.6%
Kohl's $51.36 $51.48 -$0.12 -0.2%
LJ Intl. $3.64 $3.91 -$0.27 -6.9%
Macy's $23.23 $23.00 $0.23 1.0%
Man Sang $3.86 $3.00 $0.86 28.7%
Movado Group $14.83 $15.47 -$0.64 -4.1%
Nordstrom $41.20 $41.60 -$0.40 -1.0%
Saks $11.61 $11.55 $0.06 0.5%
Signet $42.48 $42.40 $0.08 0.2%
Sotheby's $41.64 $44.83 -$3.19 -7.1%
Tiffany $57.70 $59.87 -$2.17 -3.6%
Walmart $56.03 $54.74 $1.29 2.4%
Zale $4.90 $5.73 -$0.83 -14.5%

EUROPE
Bulgari €7.28 €7.96 -€0.68 -8.5%
Bijou Brigitte €106.00 €106.63 -€0.63 -0.6%
Damiani €1.02 €0.94 €0.08 8.5%
LVMH €112.80 €118.85 -€6.05 -5.1%
PPR €114.00 €119.15 -€5.15 -4.3%
Richemont CHF 52.90 CHF 57.25 -CHF 4.35 -7.6%
Swatch Group CHF 374.70 CHF 404.00 -CHF 29.30 -7.3%
Theo Fennell (pence) 59.00 61.00 -2.00 -3.3%

INDIA (rupee)
Classic Diamond 16.25 16.70 -0.45 -2.7%
Gitanjali Gems 204.70 189.50 15.20 8.0%
Goldiam Intl. 38.25 41.20 -2.95 -7.2%
Rajesh Exports 130.95 132.75 -1.80 -1.4%
Ren. Jewellery 71.25 75.65 -4.40 -5.8%
Su-Raj Diamonds 49.95 51.25 -1.30 -2.5%
Titan 3,479.45 3,415.80 63.65 1.9%
Zodiac JRD 23.45 24.00 -0.55 -2.3%
Suashish Diamonds 149.80 158.10 -8.30 -5.2%

NEW ZEALAND
Michael Hill NZD 0.91 NZD 0.91 NZD 0.00 0.0%

MINING STOCKS
CANADA
Harry Winston CAD 11.78 CAD 10.94 CAD 0.84 7.7%
Lucara Diamond CAD 1.09 CAD 0.95 CAD 0.14 14.7%
Mountain Province CAD 5.95 CAD 6.26 -CAD 0.31 -5.0%
Peregrine Diamonds CAD 2.46 CAD 2.52 -CAD 0.06 -2.4%
Rockwell Diamonds CAD 0.06 CAD 0.07 -CAD 0.01 -14.3%
Shore Gold CAD 0.81 CAD 0.88 -CAD 0.07 -8.0%
Stornoway Diamond CAD 0.62 CAD 0.62 CAD 0.00 0.0%
True North Gems CAD 0.16 CAD 0.17 -CAD 0.01 -5.9%
UK (pence)
Anglo American 3,067.00 3,410.00 -343.0 -10.1%
BHP Billiton 2,382.00 2,522.50 -140.5 -5.6%
Firestone Diamonds 34.50 32.50 2.0 6.2%
Gem Diamonds 255.00 262.50 -7.5 -2.9%
Gemfields 15.00 15.50 -0.5 -3.2%
Mwana Africa 10.75 11.25 -0.5 -4.4%
Namakwa Diamonds 61.00 56.46 4.5 8.0%
Petra Diamonds 163.00 165.50 -2.5 -1.5%
Rio Tinto plc 4,237.00 4,503.50 -266.5 -5.9%
Stellar Diamonds 11.50 10.05 1.5 14.4%
_______________
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RAPAPORT NEWS SERVICE | FEB. 11, 2011 www.rapaport.com | news@rapaport.com


Industry Retail & Wholesale EconWatch India Mining




Rapaport Weekly Market Comment Feb. 11, 2011


U.S. retailers hoping for strong Valentine’s Day sales this weekend. Polished trading stable as Far East dealers return from vacation. Mining company revenues boosted by high rough prices: Rio Tinto 2010 diamond sales +52% to $682M, diamond profits of $70M vs. loss of $68M in 2009; ENDIAMA’s 2010 sales reach $955M with annual production of 8.5M cts. ALROSA sells $313M in Jan.Blue Nile 4Q sales +12% to $115M, profit +14% to $6M. LVMH 2010 watch & jewelry sales +29% to $1.3B, operating profits +103% to $174M. Shrenuj & Co 3Q sales +17% to $143M, profits +2% to $31M. Mumbai municipality proposes to cut inter-state octroi tax on diamonds from 2% to 0.01% on Apr. 1.


RapNet Data: Feb. 10

Diamonds 698,873
Value $4,616,467,328
Carats 786,096
Average Discount -29.64%





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RAPAPORT ANNOUNCEMENTS


March
2-7
Wed-Mon

Rapaport Hong Kong Diamond Auction

Preview Show March 2-3
Hong Kong Diamond Exchange Building

Hong Kong Int'l Jewellery Show March 4, 6, 7
2/F Exclusive Showroom – Diamonds, Room S221
Hong Kong Convention and Exhibition Center

Register at www.rapaportauctions.com




QUOTE OF THE WEEK:
Despite the high inflation rate in 2010, the [retail sales] increase is still remarkable. It underscores the initial success of China's transformation to develop its economy through domestic consumption. However, the long-term result is still uncertain.

Lu Zheng-wei | Industrial Bank






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


ALROSA Sales Reach $313M in Jan.

ALROSA’s January diamond sales totaled $313 million as the company reported a steady demand for rough. The company expects to achieve first quarter sales of approximately $880 million.





Antwerp to Auction the Magnificent 'Ekati Spirit'

BHP Billiton will auction a rough, 78-carat diamond named the ‘Ekati Spirit’ in Antwerp on Valentine’s Day. It could be the "most significant gem-quality diamond" from the Ekati mine, as well as the most valuable stone in the mine’s 13 year history. The company turned to its workforce to name the magnificent stone.





Rapaport Weekly Broadcast

WATCH NOW: The comScore 2010 U.S. Digital Year in Review report noted key online trends for U.S. retailers to monitor and incorporate into their strategy moving forward. Total U.S. retail spending in 2010 rose 10% to $142.5 billion and online jewelry sales rose 11 percent in 2010, according to comScore. Social networks will grow in importance for building brand awareness and mobile technology will continue to become an important tool to online shopping.









RETAIL & WHOLESALE


Blue Nile 4Q Sales +12%, Profit +14%

Blue Nile's fourth-quarter sales rose 11.5 percent to $114.8 million year on year, while its cost of sales was up 11 percent to $89.5 million. The company's net income for the fourth quarter rose 13.6 percent to $6.2 million. Gross profit improved by 30 basis points to 22 percent. International sales during the fourth quarter increased by 31 percent to $15.3 million and U.S. sales rose 9 percent to $99.5 million.

The company's full-year results reflected a net sales increase of 10.2 percent to $332.9 million, while its cost of sales was up 10.2 percent to $260.9 million. Blue Nile's net income rose 10.5 percent to $14.1 million. Its international sales jumped 30.4 percent to $43.3 million and its U.S. sales edged up 8 percent to $289.6 million.





Tourists Make Dubai Shopping Festival a Success

Tourists from China, India and Russia flocked to the Dubai Shopping Festival. Retailers reported that while shoppers were not spending as much as they had before the recession, their willingness to buy gold and diamond jewelry was pushing sales much higher than one year ago. Initial reports suggested gold and jewelry sales were 75 percent higher while higher-end diamond jewelry sales were up by 15 percent.





Retail Sales +19% During China’s ‘Golden Week’

Retail sales jumped 19 percent during China’s ‘Golden Week’ to $62 billion, according to the government. Dining and retail sectors fared well overall. The Beijing Caishikou Department Store, one of the largest gold and jewelry retailers in Beijing, reported a 96 percent surge in jewelry sales. The Dongan Department Store reported that gold and jewelry sales increased 37 percent.





LVMH 2010 Watch and Jewelry Sales +29%

LVMH Moet Hennessy Louis Vuitton’s 2010 watch and jewelry sales increased 29 percent to $1.34 billion, the strongest growth performance of all categories. Operating profits from the jewelry division doubled to $174 million.Overall, company revenue grew 19 percent to $27.6 billion and profits rose 73 percent to $4.2 billion.





Shrenuj & Co. 3Q Sales Rise 17%

Shrenuj & Co. reported that group sales rose 17 percent year on year to $143.1 million during the company's third fiscal quarter that ended December 31. Net profits grew 2 percent to $30.9 million. Diamond sales increased 19 percent to $102 million, while studded jewelry sales, which include branded and retail sales and intersegment sales, grew 16 percent to $43.3 million.





Argyle Pink Diamonds Debut at Nirav Modi in Mumbai

Argyle Pink Diamonds debuted at the Nirav Modi salon in Mumbai. Modi is the chairman of Firestone Diamond and is an authorized partner of Argyle. Highlighting the launch was a signature piece, The Shalimar Ring, inspired by Laxmi, the Indian Goddess of Wealth, features 4.86-carats of Argyle pink diamonds including its magnificent centerpiece, a 1.25-carat fancy vivid purplish pink round diamond that retails for approximately $2 million.





S.VinodKumar Group Opens New Facility

VinodKumar Group opened its new state-of-the-art diamond manufacturing facility on February 10 in Surat.The new digs include six floors and 125,000 square feet of working space. The new facility will employ 1,500 local artisans and in house training. S.VinodKumar stated that opening the facility strengthens its position in the global marketplace.





Orloff Elected California Jewelers Assoc. President

The California Jewelers Association (CJA) elected James Orloff, of Orloff Jewelers in Fresno as president for 2011. Orloff succeeds Stuart Benjamin of Stuart Benjamin & Co. Jewelry in San Diego as the head of the organization which caters to retail jewelers, suppliers and designers throughout the state.









STATS


Botswana’s Diamond Exports +24% in 4Q10

Botswana’s diamond exports rose 24 percent year on year to $805 million in the fourth quarter of 2010. For the full year, diamond exports increased 39 percent to $3.01 billion.





Sierra Leone’s Rough Exports +28% in 2010

Sierra Leone exported approximately $109 million in rough diamonds during 2010, an increase of 28 percent from 2009, despite a decrease in artisanal diamond mining in the country.









MINING


Rio Tinto’s Diamond Sales +52% in 2010

Rio Tinto’s diamond sales rose 52 percent year on year to $682 million in 2010 spurred by higher rough prices and rising demand from the Far East. Net earnings from diamonds were $70 million for the year, compared with a loss of $68 million in 2009.





Diavik Production +17% in 2010

Rio Tinto reported that production at the Diavik Diamond Mine in Canada’s Northwest Territories reached 6.5 million carats in 2010, a 17 percent increase in output from the previous year. Rio Tinto owns 60 percent of Diavik while Harry Winston Diamond Corporation holds the remaining 40 percent.





Botswana Diamonds Commissions Bulk Sampling Program

Botswana Diamonds has commissioned a $1 million bulk sample on three kimberlites, BK5, AK8 and AK9, in the Orapa region of Botswana.The nine -month project, undertaken on a turnkey basis by Gemcore Sampling of South Africa, could supply its first results of the sample by June.





Jewelers Boycott Bristol Bay Gold Mine

Just in time for Valentine's Day, commercial fishermen, residents and 54 leading jewelers are boycotting the proposed Pebble Mine near Bristol Bay in southwest Alaska. If opened, the mine would reportedly generate 10 million tons of toxic waste that would flow into the bay, which houses largest salmon fishery in the world. A large number of jewelers, representing $5.75 billion in sales, have taken a "no gold from Bristol Bay" pledge including Zale, Helzberg, Birks & Mayors and many top brands. Boycotters plan to send a Valentine's Day letter to Congress, calling for the protection of Bristol Bay.









ECONWATCH


For the week ending Feb. 9

Feb. 9 Feb. 3 Chng.
$1 = Euro 0.733 0.726 0.007
$1 = Rupee 45.64 45.59 0.0
$1 = Israel Shekel 3.67 3.68 -0.01
$1 = Rand 7.26 7.27 -0.01
$1 = Canadian Dollar 1.00 0.98 0.02

Precious Metals
Gold $1,363.40 $1,352.90 $10.50
Platinum $1,826.00 $1,836.00 -$10.00

Stock Indexes Chng.
BSE 17,463.04 18,449.31 -986.27 -5.3%
Dow Jones 12,229.29 12,062.29 167.00 1.4%
FTSE 6,020.01 5,983.34 36.67 0.6%
Hang Seng 22,708.62 23,908.96 -1,200.34 -5.0%
S&P 500 1,321.87 1,307.10 14.77 1.1%
Yahoo! Jewelry 1,041.29 1,051.37 -10.08 -1.0%

USA
Birks & Mayors $1.31 $1.35 -$0.04 -3.0%
Blue Nile $63.66 $57.13 $6.53 11.4%
Charles & Colvard $3.63 $2.79 $0.84 30.1%
DGSE Companies $4.45 $4.48 -$0.03 -0.7%
Fuqi Intl. $5.10 $5.15 -$0.05 -1.0%
JCPenney $36.00 $30.88 $5.12 16.6%
Kohl's $53.00 $51.06 $1.94 3.8%
LJ Intl. $3.51 $3.68 -$0.17 -4.6%
Macy's $24.22 $22.24 $1.98 8.9%
Man Sang $4.22 $4.08 $0.14 3.4%
Movado Group $14.71 $14.61 $0.10 0.7%
Nordstrom $45.57 $42.05 $3.52 8.4%
Saks $11.99 $11.10 $0.89 8.0%
Signet $44.06 $43.05 $1.01 2.3%
Sotheby's $44.37 $42.22 $2.15 5.1%
Tiffany $63.40 $60.82 $2.58 4.2%
Walmart $55.59 $55.92 -$0.33 -0.6%
Zale $4.61 $4.74 -$0.13 -2.7%

EUROPE
Bulgari €7.71 €7.56 €0.15 2.0%
Bijou Brigitte €101.84 €103.25 -€1.41 -1.4%
Damiani €1.05 €1.03 €0.02 1.9%
LVMH €118.85 €116.90 €1.95 1.7%
PPR €118.25 €116.10 €2.15 1.9%
Richemont CHF 55.25 CHF 52.65 CHF 2.60 4.9%
Swatch Group CHF 413.00 CHF 387.20 CHF 25.80 6.7%
Theo Fennell (pence) 46.00 49.18 -3.18 -6.5%

INDIA (rupee)
Asian Star 1,084.35 1,024.65 59.70 5.8%
Classic Diamond 11.10 14.14 -3.04 -21.5%
C.Mahendra 163.00 170.05 -7.05 -4.1%
Gitanjali Gems 189.80 200.40 -10.60 -5.3%
Goenka Diamond 57.65 62.65 -5.00 -8.0%
Goldiam Intl. 31.35 35.00 -3.65 -10.4%
Rajesh Exports 130.50 131.65 -1.15 -0.9%
Ren. Jewellery 66.85 67.10 -0.25 -0.4%
Shantivijay Jewels 90.05 81.60 8.45 10.4%
Suashish Diamonds 140.25 144.85 -4.60 -3.2%
Su-Raj Diamonds 40.35 45.70 -5.35 -11.7%
Titan 3,093.40 3,595.10 -501.70 -14.0%
Vaibhav Gems 20.05 20.95 -0.90 -4.3%

NEW ZEALAND
Michael Hill NZD 0.89 NZD 0.90 -NZD 0.01 -1.1%

MINING STOCKS
CANADA
Harry Winston CAD 11.72 CAD 12.16 -CAD 0.44 -3.6%
Lucara Diamond CAD 1.16 CAD 1.18 -CAD 0.02 -1.7%
Mountain Province CAD 5.90 CAD 5.82 CAD 0.08 1.4%
Peregrine Diamonds CAD 2.37 CAD 2.35 CAD 0.02 0.9%
Rockwell Diamonds CAD 0.05 CAD 0.05 CAD 0.00 0.0%
Shore Gold CAD 0.82 CAD 0.83 -CAD 0.01 -1.2%
Stornoway Diamond CAD 0.61 CAD 0.58 CAD 0.03 5.2%
True North Gems CAD 0.13 CAD 0.16 -CAD 0.03 -18.8%
UK (pence)
Anglo American 3,308.50 3,240.00 68.5 2.1%
BHP Billiton 2,484.00 2,505.00 -21.0 -0.8%
Firestone Diamonds 35.00 32.31 2.7 8.3%
Gem Diamonds 283.00 276.00 7.0 2.5%
Gemfields 15.20 14.84 0.4 2.4%
Mwana Africa 11.44 11.50 -0.1 -0.5%
Namakwa Diamonds 62.00 61.50 0.5 0.8%
Petra Diamonds 175.00 177.00 -2.0 -1.1%
Rio Tinto plc 4,549.00 4,494.00 55.0 1.2%
Stellar Diamonds 10.30 11.50 -1.2 -10.4%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RAPAPORT NEWS SERVICE | FEB. 18, 2011 www.rapaport.com | news@rapaport.com


Industry Retail & Wholesale EconWatch India Stats General




Rapaport Weekly Market Comment Feb. 18, 2011


Polished prices firm as dealers prepare for Hong Kong show. Strong rough demand with price increase expected at next week’s DTC sight. De Beers 2010 sales +53% to $5.9b with DTC prices +27%, net earnings of $546m vs. loss of $743m, production +34% to 33m cts. BHP Billiton 1H11 diamond sales +11% to $427m, and sells 78ct. Ekati Spirit for $6.1m. Gitanjali Group 3Q sales +46% to $584m, net profit +64% to $22m. Sotheby’s 2010 jewelry sales +213% to $405m. U.S. 2010 polished imports +45% to $18b, polished exports +42% to $13.8b. Israel’s Jan. polished exports +9% to $618m. Zimbabwe Jan/Feb Marange sales reach $174m, Treasury says $112m in proceeds missing.


RapNet Data: Feb. 17

Diamonds 696,299
Value $4,622,737,734
Carats 794,436
Average Discount -29.96%





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RAPAPORT ANNOUNCEMENTS


February
25-28
Fri-Mon
Rapaport at Inhorgenta Europe
Booth: Hall C1, 401


Feb-Mar
27-1
Sun-Tue
Rapaport at JA New York
Booth: 1200

March
2-7
Wed-Mon

Rapaport Hong Kong Diamond Auction
Melee, Single Stone and Certified Diamonds
For details and to register: rapaportauctions.com

March
4-8
Fri-Tue
Rapaport at Hong Kong Show
Booth: Hall 3G-B42
Auction: 2/F Exclusive Showroom Diamonds S221
RapNet Presentation: by Saville Stern, COO,
Mar. 4, 11:30 a.m. - 12:30 p.m. Meeting Room N206-8





QUOTE OF THE WEEK:
We have received [confirmation] from Zimbabwe Mining Development Corp. showing that we have received $174 million, and that shows a discrepancy from our figures. As a result... I have since instructed the accountant general and the commissioner general of the Zimbabwe Revenue Authority to verify figures of the diamond proceeds received so far. In addition, I have instructed the comptroller and auditor general to audit the books of the relevant parastatals involved in the sale of diamonds.

Tendai Biti | Zimbabwe Finance Minister






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


De Beers Sales +53% to $6B

De Beers reported that fiscal year 2010 sales increased 53 percent to $5.88 billion due to easy comparisons, higher rough prices and renewed demand for diamonds. Net earnings for the year grew to $546 million, compared with a net loss of $743 million in 2009. Sales of rough diamonds through the Diamond Trading Company (DTC) rose 57 percent to $5.08 billion with the average price of DTC goods up 27 percent through the year. The company generated additional revenue from its Diamdel unit, which sells rough to the secondary market, its De Beers Diamond Jewellery retail partnership, and its Element 6 industrial diamond business. Read the full report.






Zim Rough Sales Hit $174M

Rough diamond sales in Zimbabwe during January and February have totaled more than $174 million, according to the state-run Herald. However, finance minister Tendai Biti said $100 million of the funds were missing from the Treasury and he ordered an audit.





WFDB Warns of Conflict Diamond Risk

The World Federation of Diamond Bourses (WFDB) asked member bourses to be aware of possible conflict diamonds from Cote d’Ivoire following a letter from Kimberley Process (KP) chairman Mathieu Yamba. The ongoing unrest in Cote d’Ivoire is of great humanitarian concern of course, but additionally, Yamba cited U.N. reports stating that rough diamonds were being mined in Cote d’Ivoire and then exported to neighboring countries, despite the diamond ban, where those goods would then be processed with KP certificates. Cote d’Ivoire’s former President Laurent Gbagbo has refused to concede defeat against President-elect Alassane Ouattara.





U.S. Jewelry CPI Hits New Record

The U.S. consumer price index (CPI) for jewelry hit a new high in January at 170.9 points. The measure jumped 8.7 percent from one year ago. The January reading marked the 36th consecutive month for which the jewelry CPI registered more than 150 points.





Rapaport Weekly Broadcast

WATCH NOW: MasterCard Advisors’ SpendingPulse, reported that total retail sales in the U.S., during January rose 5.5 percent, but jewelry sales were weak. Gitanjali Group’s third quarter revenue increased 46 percent and profits jumped 62 percent. BHP Billiton’s first half diamond revenues grew 11 percent to $427 million, and just this week BHP sold its Ekati Spirit, a 78-carat diamond, in Antwerp for $6.1 million. In other mining news, Trans Hex tendered $19.8 million in rough while Namakwa Diamonds sold $6 million in goods this month. Lucara Diamond Corp. raised new capital towards its AK6 project funding efforts.









RETAIL & WHOLESALE


U.S Jan. Department Store Sales Fall Flat

U.S. department store sales were flat in January at $15.5 billion. However, the government reported that total retail sales rose 7.8 percent to $381.6 billion. Retail trade sales rose 8.3 percent. The National Retail Federation (NRF) calculated an increase of 3.5 percent for retail industry sales, excluding automobiles, gas stations, and restaurants.





Indian Firms Report 3Q Sales

A number of public Indian jewelers reported their third quarter results this week:
Asian Star reported that group sales rose 8 percent to $81.8 million. Sales of cut and polished diamonds fell 3 percent to $69.9 million while jewelry sales nearly tripled to $15 million. Intersegment sales grew 51 percent to $3.4 million. Group profits rose 5 percent to $1.6 million.
Suashish Diamonds reported that net sales declined 5 percent year on year to $66 million. Net profit for the period fell 39 percent to $2.3 million.
Goldiam International sales rose 47 percent to about $157 million. Net profit fell 12 percent to $11 million
Suraj Diamonds & Jewellery Limited reported that group sales rose 34 percent to $216.1 million. Sales from the diamonds segment grew 1 percent to $40.1 million while jewelry sales rose 45 percent to $176.2 million. Group profits more than doubled to $6.6 million.
Classic Diamonds reported that group sales fell 22 percent to $28.6 million. Sales of cut and polished diamonds fell 35 percent to $14.5 million, while jewelry sales decreased 1 percent to $14 million. Group profits fell 75 percent to $176,171.






Fossil 4Q Sales +33%, FY10 Sales +31%

Fossil reported that fourth quarter revenue rose 33 percent to $701 million and cost of sales jumped 31 percent to $301 million, for the period that ended January 1. Net profit rose 39 percent to $96.7 million. Fiscal year sales grew 31 percent to $2 billion and profits soared 83 percent to $255 million.





Rokstok Creates Men’s Jewelry Collection

Jewelry designer Andrew Moquin created a new men’s collection for Rokstok.com, named "Bound" and features wedding rings in tribal flames, barbed wire, and tribal Celtic patterns, among others. The rings are made of white or yellow god, platinum, palladium and can be two-tone.





Jewelers Launch Fairtrade and Fairmined Gold

A number of jewelers were licensed this week in London to offer Fairtrade and Fairmined gold products including big names such as Garrard, CRED, Fifi Bijoux, Ingle & Rhode, and Harriet Kelsall of the U.K. Additionally, Fair Trade Jewellery Company (FTJCo) of Toronto was one of the first authorized in North America for Fairtrade gold. Collections and individual pieces will become available, all of which will be hallmarked with the FAIRTRADE Mark and Fairmined Mark, a stamp of reassurance that the miners are getting a better deal on their metal.





Queen Renews ‘Royal’ Title to the Asscher

The Asscher family was again awarded the ‘’Royal’’ title by Her Majesty the Queen of The Netherlands in Amsterdam. The title was first granted in 1980 and is now extended another 25 years in acknowledgement of the Asscher's leadership across the diamond industry. To mark the occasion, Royal Asscher will release a special edition Stars of Africa ring with orange diamonds on April 30, 2011, on the former Queen’s birthday.





Sotheby’s Jewelry Auctions Achieve $405M

Jewelry auctions at Sotheby’s in 2010 achieved total sales of $405 million —marking the highest annual total ever for jewelry sales — and representing a 213 percent increase from the figure in 2009. Important fall auctions in New York, Geneva, Hong Kong and London also broke records for large diamonds, jadeite and jewelry.









GENERAL


NY Diamond Dealers Club Election Results

Moshe Mosbacher was elected full-term president of the New York Diamond Dealers Club February 15. Mosbacher (pictured) won by an overwhelming margin of two-thirds of the vote and has been club president since the death of Jacob Banda. Additionally, Basant Johari was elected vice president, Reuven Kaufman was voted as secretary, and Jacob Zupnick was elected treasurer.

Those elected to serve on the board of directors included, Solomon Cohen, Gary Dimenstein, Abraham Einhorn, Meilech Fastag, Jack Friedman, Dov Fruchter, Michael Gross, Roy Herzl, Isaac Jacob, Joseph Khafi, Philip Klein, Moshe Lax, Efraim Reiss, Benny Simkhai, Jacob Weinstock and Moshe Zwiebel. Shraga Gancz and Avi Simkhai were elected to the Diamond Dealers Club's control committee.





Seminar Helps Master the Export Process

The New York Diamond Dealers Club hosted a seminar for jewelers that addressed efficient, legal and safe ways in which to export jewelry and stones. The U.S. Department of Commerce and the U.S. Embassy discussed ways in which they support global trade and industry experts talked about cost effective ways to ship merchandise, general import and export regulations, and tips for efficiently exporting goods.

View the following resources for more information:
www.census.gov
www.buyusa.gov/nyc









STATS


U.S. Imports & Exports


For December 2010

Figures are rounded Dec. $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $1,450 22% $18,060 45%
Polished exports $1,150 24% $13,760 42%
Net polished $299 17% $4,300 57%

Rough imports $63 70% $524 81%
Rough exports $54 -21% $341 44%
Net rough $9 $183 245%

Net diamond acct. $308 37% $4,480 60%







Israel Imports & Exports

Israel does not release complete diamond imports and exports.

Figures are rounded Jan. $Mil. %Chng.
Polished exports $618 9%
Polished imports NA
Net polished NA

Rough imports NA
Rough exports $381 25%
Net rough NA

Net diamond acct. $257 -23%








Namibia 2010 Figures

$Mil. %Chng. Cts. %Chng.
Carat sold $766 32% 1.522M 12%
Carat production 1.467M 57%
Earnings from sales $246










ECONWATCH


For the week ending Feb. 17

Feb. 17 Feb. 9 Chng.
$1 = Euro 0.738 0.733 0.005
$1 = Rupee 45.27 45.64 -0.4
$1 = Israel Shekel 3.62 3.67 -0.05
$1 = Rand 7.17 7.26 -0.09
$1 = Canadian Dollar 0.98 1.00 -0.02

Precious Metals
Gold $1,383.60 $1,363.40 $20.20
Platinum $1,844.00 $1,826.00 $18.00

Stock Indexes Chng.
BSE 18,506.82 17,463.04 1,043.78 6.0%
Dow Jones 12,318.14 12,229.29 88.85 0.7%
FTSE 6,087.38 6,020.01 67.37 1.1%
Hang Seng 23,301.84 22,708.62 593.22 2.6%
S&P 500 1,340.43 1,321.87 18.56 1.4%
Yahoo! Jewelry 1,035.65 1,041.29 -5.64 -0.5%

USA
Birks & Mayors $1.34 $1.31 $0.03 2.3%
Blue Nile $55.03 $63.66 -$8.63 -13.6%
Charles & Colvard $3.85 $3.63 $0.22 6.1%
DGSE Companies $4.23 $4.45 -$0.22 -4.9%
Fuqi Intl. $4.62 $5.10 -$0.48 -9.4%
JCPenney $36.94 $36.00 $0.94 2.6%
Kohl's $53.54 $53.00 $0.54 1.0%
LJ Intl. $4.15 $3.51 $0.64 18.2%
Macy's $24.06 $24.22 -$0.16 -0.7%
Man Sang $4.49 $4.22 $0.27 6.4%
Movado Group $14.69 $14.71 -$0.02 -0.1%
Nordstrom $46.48 $45.57 $0.91 2.0%
Saks $12.97 $11.99 $0.98 8.2%
Signet $44.83 $44.06 $0.77 1.7%
Sotheby's $47.90 $44.37 $3.53 8.0%
Tiffany $63.86 $63.40 $0.46 0.7%
Walmart $54.75 $55.59 -$0.84 -1.5%
Zale $4.42 $4.61 -$0.19 -4.1%

EUROPE
Bulgari €7.71 €7.71 €0.00 0.0%
Bijou Brigitte €102.30 €101.84 €0.46 0.5%
Damiani €1.03 €1.05 -€0.02 -1.9%
LVMH €117.45 €118.85 -€1.40 -1.2%
PPR €115.85 €118.25 -€2.40 -2.0%
Richemont CHF 55.15 CHF 55.25 -CHF 0.10 -0.2%
Swatch Group CHF 410.20 CHF 413.00 -CHF 2.80 -0.7%
Theo Fennell (pence) 44.50 46.00 -1.50 -3.3%

INDIA (rupee)
Asian Star 1,082.00 1,084.35 -2.35 -0.2%
Classic Diamond 13.39 11.10 2.29 20.6%
C.Mahendra 184.00 163.00 21.00 12.9%
Gitanjali Gems 241.95 189.80 52.15 27.5%
Goenka Diamond 63.15 57.65 5.50 9.5%
Goldiam Intl. 35.00 31.35 3.65 11.6%
Rajesh Exports 138.85 130.50 8.35 6.4%
Ren. Jewellery 76.40 66.85 9.55 14.3%
Shantivijay Jewels 82.90 90.05 -7.15 -7.9%
Suashish Diamonds 147.60 140.25 7.35 5.2%
Su-Raj Diamonds 51.65 40.35 11.30 28.0%
Titan 3,294.30 3,093.40 200.90 6.5%
Vaibhav Gems 23.20 20.05 3.15 15.7%

NEW ZEALAND
Michael Hill NZD 0.89 NZD 0.89 NZD 0.00 0.0%

MINING STOCKS
CANADA
Harry Winston CAD 11.91 CAD 11.72 CAD 0.19 1.6%
Lucara Diamond CAD 1.20 CAD 1.16 CAD 0.04 3.4%
Mountain Province CAD 5.90 CAD 5.90 CAD 0.00 0.0%
Peregrine Diamonds CAD 2.53 CAD 2.37 CAD 0.16 6.8%
Rockwell Diamonds CAD 0.06 CAD 0.05 CAD 0.01 20.0%
Shore Gold CAD 0.80 CAD 0.82 -CAD 0.02 -2.4%
Stornoway Diamond CAD 0.58 CAD 0.61 -CAD 0.03 -4.9%
True North Gems CAD 0.13 CAD 0.13 CAD 0.00 0.0%
UK (pence)
Anglo American 3,304.12 3,308.50 -4.4 -0.1%
BHP Billiton 2,444.50 2,484.00 -39.5 -1.6%
Firestone Diamonds 35.33 35.00 0.3 0.9%
Gem Diamonds 299.00 283.00 16.0 5.7%
Gemfields 15.00 15.20 -0.2 -1.3%
Mwana Africa 11.00 11.44 -0.4 -3.8%
Namakwa Diamonds 62.00 62.00 0.0 0.0%
Petra Diamonds 175.00 175.00 0.0 0.0%
Rio Tinto plc 4,498.50 4,549.00 -50.5 -1.1%
Stellar Diamonds 10.00 10.30 -0.3 -2.9%
_______________
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Rapaport Weekly Market Comment Mar. 4, 2011


High expectations for Hong Kong show as Far East demand continues to grow. Rough is tough and gold is bold ($1,441/oz.) as commodity prices reflect increasing Mid-East uncertainty. MasterCard Advisors’ SpendingPulse reports slower U.S. retail growth in Feb. but online jewelry sales +7%. Michael Hill FY1H revenues +10% to $202M, profit +7% to $18M. Belgium’s Feb polished exports +51% to $1.3B, rough exports +26% to $1.1B. Hong Kong’s 4Q polished imports +31% to $3.5B, polished exports +33% to $2.7B. Japan’s Jan. polished imports +44% to $72M. Nicky Oppenheimer to retire from Anglo American board.


RapNet Data: Mar. 3

Diamonds 721,102
Value $4,743,863,202
Carats 813,716
Average Discount -29.02%





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RAPAPORT ANNOUNCEMENTS


March
2-7
Wed-Mon

Rapaport Hong Kong Diamond Auction
Melee, Single Stone and Certified Diamonds
For details and to register: rapaportauctions.com

March
4-8
Fri-Tue
Rapaport at Hong Kong Show
Booth: Hall 3G-B42
Auction: 2/F Exclusive Showroom Diamonds S221
Presentation by Saville Stern, RapNet COO
Mar. 4, 11:30 a.m. - 12:30 p.m. Meeting Room N206-8





QUOTE OF THE WEEK:
We were all exceedingly gratified by the [silver jewelry sales] data that so strongly affirmed what we already knew on an anecdotal basis. What was somewhat of a surprise was not just silver’s absolute growth and performance ratings, but that in all major categories the 2010 results exceeded the corresponding record numbers from 2009.

Michael Barlerin | Silver Institute’s Silver Promotion Service






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


RapNet Polished Prices +3.4% in Feb.

The RapNet average asking prices increased 3.4 percent in February with 0.5-carat stones up 2.5 percent, while average 1-carat diamonds rose 4.2 percent and average prices for 3-carat stones jumped 4.5 percent. Prices of small, inexpensive diamonds at Rapaport Auctions continued to strengthen during the month. During the first two months of 2011, average prices rose by 4.7 percent, but watch this, at the end of February prices jumped 11.3 percent higher than they were one year ago. Read the full report.





DTC to Launch New Sightholder Process

The Diamond Trading Company (DTC) will host two webinars on March 8 from London to support companies considering registering to become a sightholder for the next Supplier of Choice contract period. The sessions are open to all at www.newsightholdercontract.com.





Rapaport Weekly Broadcast

WATCH NOW At the JA Winter Show in New York, show director Drew Lawsky explained that the event worked well as an incubator for dozens of new designers and small firms exhibiting for their first time. Aside from that, Atelier Minyon debuted their new Goth bridal collection along with diamond and gemstone fairy wings and mermaids (pictured); Saundra Messinger has been increasing her use of big diamonds lately with her silver jewelry collection; Gurhan debuted their latest collection of one-of-a-kind, artifact cameos that feature vintage style angel carvings. Additional coverage includes MasterCard Advisors SpendingPulse’s observation on February retail sales.









RETAIL & WHOLESALE


U.S. Retailers Report February Sales

U.S. chain-store sales rose 4.2 percent year on year in February, according to the International Council of Shopping Centers (ICSC), mostly due to more retailers and retail segments reporting strong sales improvements.

Major U.S. retailers also reported February sales today. Saks, Neiman Marcus, JCPenney and Nordstrom noted strong fine jewelry sales for the month.


Nordstrom’s sales increased 12 percent to $606 million, while same-store sales rose 7.3 percent.
Neiman Marcus’ sales and same-store sales grew 13 percent to $282 million.
Saks’ sales jumped 14 percent to $196.2 million and same-store sales grew 15 percent.
Macy’s sales increased 5.9 percent to $1.8 billion, while same-store sales rose 5.8 percent.
JCPenney’s sales grew just 2.7 percent to $1.2 billion and same-store sales increased 6.4 percent. The retailer also reported fiscal year 2010 figures this week, showing revenue rose 1.2 percent to $7.56 billion and same- store sales increased 2.5 percent. Profit jumped 55 percent to $389 million.
Kohl’s sales jumped 7.1 percent to $1.2 billion and same-store sales rose 5 percent.
Target’s sales rose 2.4 percent to $4.7 billion, while same-store sales grew 1.8 percent.
BJ Wholesale’s sales grew 9.3 percent to $814.1 billion and same-store sales increased 3.9 percent.
Costco’s sales jumped 14 percent to $6.4 billion and same-store sales rose 4 percent.






U.S. Silver Jewelry Sales Rise

The Silver Institute’s Silver Promotion Service found that 87 percent of U.S. jewelry retailers said their silver jewelry sales increased in 2010 with 52 percent saying silver jewelry sales increased between 11 percent and 25 percent while 28 percent experienced sales increase of more than 25 percent. Overall, silver jewelry sales rose by an average of 23 percent. Retailers rated categories in order of their "best" maintained margin with silver jewelry offering the highest margin at 57 percent followed by diamond jewelry at 20 percent and bridal jewelry at 15 percent.





Sotheby's Reports FY10 Results

Sotheby’s reported that total revenue for fiscal year 2010 soared 60 percent to $774.3 million. Sotheby’s profit for 2010 was at $161 million compared with a loss of $6.5 million one year ago. Sotheby's consolidated sales were $2 billion and as previously reported, the company's jewelry sales totaled a record-high $405 million in 2010.





Michael Hill Int'l 1H Profits and Revenue Rise

Michael Hill International reported that first fiscal half profits rose 7.2 percent to $18 million compared with one year ago. Revenue for the fiscal half, which ended December 31, rose 9.9 percent to $202 million. In Canada, same-store sales rose 15.1 percent while revenue jumped 23.5 percent. Revenue from Australia rose 6.1 percent, while same-store sales rose 5.7 percent. In New Zealand, same-store sales rose 6.2 percent and sales increased 7.1 percent. However, in the U.S. operations recorded a loss of $2.1 million and revenue was $4.2 million.





Berkshire Hathaway's 2010 Retail Sales +2%

Berkshire Hathaway — whose retail division includes Borsheims, Helzberg Diamond and Ben Bridge among other top non-jewelry brands— reported that revenues from all retail operations rose 2 percent year on year to $2.9 billion in 2010.





Christie’s to Auction 10.09ct. Pink

Christie’s will offer a 10.09-carat, cushion cut, fancy vivid purplish pink diamond at its Magnificent Jewels Auction coming up in New York on April 12. The diamond carries a presale estimate of $12 million to $15 million. In the past 15 months, four of these most desirable pink jewels have achieved more than $1 million per carat at auction.





James Allen Releases iPhone and iPad App

James Allen launched a new iPhone and iPad application — the James Allen Diamond App — that enables users to view more than 20,000 diamond photos using the custom-built Virtual Loupe feature. The tool lets users inspect each stone up close as well as laboratory reports and price comparisons. The App also lets shoppers view more than 1,000 engagement rings in high-definition and instantly connects them to a store to speak with customer service or make a direct purchase.





Lili Diamonds Launches 'Space' Branding Campaign

Lili Diamonds launched its new branding strategy focusing strongly on online publicity by incorporating a “space” theme which encompasses its new website and company logo, print magazine advertisements, corporate video and catalogue production, as well as its new Meteor&reg; Cut diamond design. The company’s other designs include the Crisscut&reg;, Crisscut&reg; Cushion, Wondercut&reg;, among others.





Surya Capital Buys Robbins Diamonds Inventory

Surya Capital, along with Buxbaum Jewelry Advisors, purchased the inventory of Philadelphia jeweler Robbins Diamonds’ former flagship store at a sealed bid auction. The inventory of loose diamonds and diamond jewelry is valued at about $1.6 million at cost.





Whiteflash Achieves ISO 9001:2008 Certification

Diamond retailer Whiteflash was awarded certification for the ISO 9001:2008 Quality Management System by SGS. The retailer met continuing requirements of ISO 9001 by demonstrating a systemic process to continually improve products and services for the ultimate benefit of their customers and trading partners.









GENERAL


West Coast Jeweler Clifford Newton Farrar Jr. Dies

West Coast jeweler Clifford Newton Farrar Jr. passed away on February 28 and was 88 years old. Farrar’s jewelry career began in 1947 when he joined Wurm’s Jewelry in California as a watchmaker. He eventually became a gemologist/appraiser and owned multiple jewelry stores. He also held the role of president for numerous industry organizations including the Pacific Jewelry Show, the Southern California Chapter of the AGS, and the California Jewelers Association.





Tiffany Appoints Cumenal as Executive Vice President

Tiffany & Co appointed Frederic Cumenal, 51, as its executive vice president effective March 10, 2011. He will head Tiffany’s businesses in Asia, Japan, Europe and emerging markets and will report to the company's chairman, Michael Kowalski. Cumenal previously held the position of president of the LVMH group and chief executive of Moët & Chandon S.A.





Oppenheimer to Retire from Anglo's Board

De Beers Group chairman Nicky Oppenheimer will retire from the board of Anglo American after serving 37 years. Oppenheimer will step down from his post as a non-executive director on the board on April 21 at the conclusion of the mining giant's annual general meeting.









STATS


Belgium Imports & Exports


Figures are rounded
Feb. $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,320 51% $2,130 40%
Polished imports $885 33% $1,870 33%
Net exports $432 104% $260

Rough imports $1,050 35% $2,100 37%
Rough exports $1,140 26% $2,170 26%
Net imports ($84) -45% ($70)

Net diamond acct. $516 54% $330 0%







Hong Kong Imports & Exports


Figures are rounded
4Q10 $Mil. %Chng. 2010 $Mil. %Chng.
Polished imports $3,490 31% $13,510 39%
Polished exports $2,700 27% $10,000 41%
Rough imports $305 32% $1,140 19%
Rough exports $296 30% $1,130 17%
Net diamond acct. $9 244% $3,510 37%







Japan Imports

Jan. $Mil. %Chng.
Polished diamond imports $72 44%
Gold jewelry imports $47 20%
Platinum jewelry imports $32 3%










MINING


TanzaniteOne Recovers 12,100-carat Stone

TanzaniteOne recovered a 12,100-carat rough tanzanite stone from its flagship project in Tanzania, possibly making it the third-largest stone in the world. The stone will be analyzed, graded for color and clarity and then cut and polished into smaller stones at the company’s new in-house cutting facility.





Shear Budgets Almost $5M for Phase 1 at Jericho

Shear Diamonds approved $4.6 million for its first phase on the Jericho diamond project in Nunavut, Canada. There is already a work crew of five at the site to prepare facilities for a drilling program planned to commence in early April. Shear ‘s goals this year are to confirm and expand current resources, explore for new diamondiferous kimberlites and begin work to determine if Jericho is economically feasible.









ECONWATCH


For the week ending Mar. 3

Mar. 3 Feb. 24 Chng.
$1 = Euro 0.720 0.725 -0.005
$1 = Rupee 44.95 45.57 -0.6
$1 = Israel Shekel 3.60 3.65 -0.05
$1 = Rand 6.92 7.05 -0.13
$1 = Canadian Dollar 0.97 0.98 -0.01

Precious Metals
Gold $1,416.30 $1,401.60 $14.70
Platinum $1,823.00 $1,779.00 $44.00

Stock Indexes Chng.
BSE 18,489.76 17,632.41 857.35 4.9%
Dow Jones 12,258.20 12,068.50 189.70 1.6%
FTSE 6,005.09 5,919.98 85.11 1.4%
Hang Seng 23,122.42 22,601.04 521.38 2.3%
S&P 500 1,330.97 1,306.10 24.87 1.9%
Yahoo! Jewelry 1,014.85 997.86 16.99 1.7%

USA
Birks & Mayors $1.48 $1.46 $0.02 1.4%
Blue Nile $53.81 $53.31 $0.50 0.9%
Charles & Colvard $3.53 $3.80 -$0.27 -7.1%
DGSE Companies $4.30 $4.15 $0.15 3.6%
Fuqi Intl. $4.13 $4.54 -$0.41 -9.0%
JCPenney $33.94 $36.55 -$2.61 -7.1%
Kohl's $54.33 $53.80 $0.53 1.0%
LJ Intl. $4.08 $3.85 $0.23 6.0%
Macy's $23.64 $23.17 $0.47 2.0%
Man Sang $4.30 $4.00 $0.30 7.5%
Movado Group $14.80 $14.09 $0.71 5.0%
Nordstrom $44.63 $45.00 -$0.37 -0.8%
Saks $12.18 $12.31 -$0.13 -1.1%
Signet $45.08 $43.18 $1.90 4.4%
Sotheby's $49.72 $46.93 $2.79 5.9%
Tiffany $62.14 $60.55 $1.59 2.6%
Walmart $52.01 $52.09 -$0.08 -0.2%
Zale $4.19 $4.15 $0.04 1.0%

EUROPE
Bulgari €7.68 €7.32 €0.36 4.9%
Bijou Brigitte €102.99 €101.54 €1.45 1.4%
Damiani €1.03 €1.03 €0.00 0.0%
LVMH €112.95 €111.20 €1.75 1.6%
PPR €110.00 €110.50 -€0.50 -0.5%
Richemont CHF 54.10 CHF 52.30 CHF 1.80 3.4%
Swatch Group CHF 394.50 CHF 387.30 CHF 7.20 1.9%
Theo Fennell (pence) 44.00 44.25 -0.25 -0.6%

INDIA (rupee)
Asian Star 1,083.00 995.00 88.00 8.8%
Classic Diamond 13.14 12.51 0.63 5.0%
C.Mahendra 206.10 201.95 4.15 2.1%
Gitanjali Gems 219.60 215.65 3.95 1.8%
Goenka Diamond 61.00 59.60 1.40 2.3%
Goldiam Intl. 31.60 32.35 -0.75 -2.3%
Rajesh Exports 123.80 127.35 -3.55 -2.8%
Ren. Jewellery 75.40 72.40 3.00 4.1%
Shantivijay Jewels 75.20 78.10 -2.90 -3.7%
Suashish Diamonds 141.05 139.85 1.20 0.9%
Su-Raj Diamonds 47.80 46.15 1.65 3.6%
Titan 3,452.85 3,271.00 181.85 5.6%
Vaibhav Gems 34.10 21.75 12.35 56.8%

NEW ZEALAND
Michael Hill NZD 0.86 NZD 0.89 -NZD 0.03 -3.4%

MINING STOCKS
CANADA
Harry Winston CAD 12.40 CAD 11.74 CAD 0.66 5.6%
Lucara Diamond CAD 1.18 CAD 1.15 CAD 0.03 2.6%
Mountain Province CAD 5.65 CAD 5.02 CAD 0.63 12.5%
Peregrine Diamonds CAD 2.07 CAD 2.30 -CAD 0.23 -10.0%
Rockwell Diamonds CAD 0.05 CAD 0.05 CAD 0.00 0.0%
Shore Gold CAD 0.84 CAD 0.74 CAD 0.10 13.5%
Stornoway Diamond CAD 2.08 CAD 2.25 -CAD 0.17 -7.6%
True North Gems CAD 0.12 CAD 0.13 -CAD 0.01 -7.7%
UK (pence)
Anglo American 3,360.50 3,178.50 182.0 5.7%
BHP Billiton 2,484.00 2,360.50 123.5 5.2%
Firestone Diamonds 33.00 33.00 0.0 0.0%
Gem Diamonds 284.70 286.00 -1.3 -0.5%
Gemfields 15.40 14.12 1.3 9.1%
Mwana Africa 9.50 10.28 -0.8 -7.6%
Namakwa Diamonds 58.00 58.00 0.0 0.0%
Petra Diamonds 174.14 168.02 6.1 3.6%
Rio Tinto plc 4,351.00 4,170.00 181.0 4.3%
Stellar Diamonds 8.61 8.69 -0.1 -0.9%
_______________
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Registrovaný uživatel
RAPAPORT NEWS SERVICE | MAR. 11, 2011 www.rapaport.com | news@rapaport.com


Industry Retail & Wholesale EconWatch India Stats General




Rapaport Weekly Market Comment Mar. 11, 2011


Hong Kong show exceeds expectations with very strong buying activity. Show indicated a shift to seller’s market as shortages and increasing Indian and Far East demand enabled higher prices. Investment demand building as Mid-East political instability increases demand for large fine quality D-IF and other high quality investment diamonds. De Beers reports unprecedented rough demand at Feb. Diamdel online auctions. DTC launches sightholder application process for 2012-2015 contract period. LVMH to acquire Bulgari for $6b. U.S. Jan. polished imports +25% to $1.6b, polished exports +39% to $1.3b. Botswana’s Jan. diamond exports +40% to $354m.


RapNet Data: Mar. 10

Diamonds 710,130
Value $4,667,882,080
Carats 802,470
Average Discount -28.34%





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RAPAPORT ANNOUNCEMENTS


March
14-22
Mon-Tue

Rapaport NY Melee Auction
Over 50,000 carats
Tel. 1-212-354-9100
Email: auctions@rapaport.com

March
25
Fri

Rapaport Conference at Baselworld

Special Presentation by Martin Rapaport
How to Make Money in the Diamond Business
9 a.m. - 10:30 a.m.

Rapaport Fair Trade Jewelry Conference
10:30 a.m. - 12:30 p.m.

Basel Congress Center, Montreal Hall
Register Now




QUOTE OF THE WEEK:
We want to be able to choose to whom we deliver so it’s not like a supermarket where everyone can help themselves. If LVMH spent 10% of the money they’re spending on Bulgari on training and watch production, that would be a good thing. Jewelry is much less sexy than making watches. That’s not to say it doesn’t interest Swatch Group, as we do have our own jewelry. Making watches is more interesting.

Nick Hayek | Swatch Group CEO






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


LVMH to Acquire Bulgari in $6B Deal

LVMH Moet Hennessy Louis Vuitton SA will acquire Bulgari SpA in a deal valued at about $6 billion. LVMH will buy 50.4 percent of Bulgari by issuing 16.5 million shares in exchange for 152.5 million Bulgari shares held by the Bulgari family, which will give them approximately 3.3 percent in LVMH, making them the second largest family shareholder in LVMH. The deal will also bring Bulgari into LVMH’s watch and jewelry business, which already includes the TAG Heuer, Chaumet, Zenith, Hublot, Fred and De Beers brands.





Spot Gold Hits New Record

Spot gold hit an all-time high on Monday reaching $1,444.40oz. before pulling back during the afternoon hours in London. Escalating violence in Libya made investors jittery about oil prices and spurred some safe-haven buying of the yellow metal.





DTC Opens New Sightholder Application Process

The Diamond Trading Company (DTC) opened its sightholder registration process for the 2012 contract period. Applicants must provide financial data and adhere to strict De Beers best practice principles in order to be considered. Online registration closes at midnight (London time) on April 18, after which applicants will be requested to submit contract proposal questionnaires before July 7. The company set up a new website to facilitate the process.





Rapaport Weekly Broadcast

WATCH NOW Hong Kong Show diamond dealers reported strong trading driven by a buoyant Far East market for polished diamonds. There was strong demand for 1 to 3 carat, in D-F and I-K color ranges, and mainly for VVS, VS to SI clarity goods. In addition to 0.30 to 3 carat stones performed very well. Stones larger than 10 carats in all colors and clarities experienced improvement.









RETAIL & WHOLESALE


Diamdel: Unprecedented Demand at Feb. Auctions

Diamdel reported “unprecedented demand” at its February diamond auctions as 166 different companies submitted bids for stones. The De Beers subsidiary sold all 197 lots made available with 68 different companies winning lots. The company noted that sales to customers based in Belgium and Israel rose to record levels. Non-sightholders bought 62 percent of the lots while no individual buyer won more than 15 lots. There was strong demand for all categories of diamonds with the highest buyer participation seen in the 2-carat-plus sizes and small range stones.





Tanishq to Merge With Titan Industries

Tanishq (India) Ltd, a 100 percent subsidiary of watch and jewelry maker Titan Industries Ltd., has filed a petition with the Karnataka high court to merge itself with its parent company. This is part of Titan Industries’ plan to reduce the number of subsidiaries. After the merger Titan Industries will have only two subsidiaries: Titan Time products Ltd. and Titan Properties Ltd.





Christie’s to Auction Gloria Swanson’s 5ct. Diamond Ring

Christie’s Paris will auction legendary actress Gloria Swanson’s 5.1-carat, rectangular cut diamond ring on May 23. The beautifully crafted ring has a presale estimate of $97,377 to $139,110. Swanson was a Hollywood actress and silent move star, most famous for starring in “Sunset Boulevard” in 1950 and for her extravagant taste in jewelry — that would put most of today’s celebrities to shame.





Tacori 'Mating Game' Sweepstakes Draws New Fans

Tacori chose the winner of its “Mating Game" sweepstakes, which ran on Facebook from February 10 to 28 and featured an online, interactive game that allowed players to navigate five potential dates through a question and answer session. At the end of the game, players were given their ideal match, engagement ring and wedding proposal. Michelle Rey won the sweepstakes and has her pick of any piece from the Tacori 18k925 Collection of color-filled fine jewelry valued up to $3,000. Tacori picked up thousands of new fans during the sweepstakes promotion.





Venus Jewel Launches Diamond DNA Feature

Venus Jewel launched a unique tool that lets customers closely look at the diamonds they are interested in purchasing. Diamond DNA shows shoppers diamond diagrams, plotting of inclusions, high-res photographs and AGS parameters among other details before they decide to buy the stone. The tool is available at www.venusjewel.com.





Las Vegas Antique Jewelry Show Moves to the Paris

The Las Vegas Antique Jewelry & Watch Show will be held at the Paris Hotel from June 2 to 5, 2011. The show offers loose diamonds, rare and unique antique jewelry, watches and gemstones from all over the world.









GENERAL


Industry Players Make Forbes List

Forbes magazine published their annual list of the World’s Richest Players for 2011 and included some from the diamond and jewelry retail industry.


No. 3: Warren Buffett, worth $50 billion
No. 4: Bernard Arnault, LVMH, worth $41 billion
No. 30: Jeff Bezos, Amazon, worth $18.1 billion
No. 67: Francois Pinault, PPR, worth $11.5 billion
No. 136: Nicky Oppenheimer (pictured), worth $7 billion
No. 162: Beny Steinmetz, worth $6 billion
No. 173: Ralph Lauren, worth $5.8 billion
No. 219: Johann Rupert, Richemont, worth $4.8 billion
No. 459: Laurence Graff, worth $2.5 billion
No. 782: Lev Leviev, worth $1.6 billion
No. 782: Jack Ma, Alibaba, worth $1.6 billion
No. 993: Mohamed al Fayed, Harrods, worth $1.2 billion






COLLOQUY Report Says News Travels Fast

COLLOQUY’s latest research into the word-of-mouth social sharing practices of U.S. households found that a bad customer experience travels faster than a good one. They advice brands to make sure customers not only have an opportunity for two-way dialogue, but have a voice with others through social media. Also, make sure that brand content is relevant and fresh, go overboard to service clients and address any negative feedback immediately.









STATS


U.S. Imports & Exports

Figures are rounded Jan. $Mil. %Chng.
Polished imports $1,590 25%
Polished exports $1,260 39%
Net imports $326 -8%

Rough imports $56 19%
Rough exports $34 105%
Net imports $22 -29%

Net diamond account $348 -10%










MINING


Gemfields 1H11 Revenue +141% to $29M

Gemfields reported that revenue from rough and polished emerald sales soared 141 percent to $29 million for the six months that ended December 31, 2010, versus the same fiscal period of 2009. The mining company also recovered a profit of $15.5 million versus a loss of $5.8 million one year ago and is debt free. Also, gemstone production at the Kagem mine for the first six months of the fiscal year totaled 18.7 million carats of emerald and beryl, exceeding total production for fiscal year 2009 of 17.4 million carats.





Alrosa Opts to Tender Polished Diamonds 1ct.+

ALROSA’s Market Conjuncture Panel decided that polished diamonds of 1-carat or larger would now be sold on a tender basis rather than through the previous system of one-time contracts, due to strong global demand for polished goods. ALROSA's obligations to supply polished diamonds to its customers, who were buying through one-time supply contracts before March 4, will be honored under the terms and conditions of existing contracts.





Stellar Improves Cash Position During 1H11

Stellar Diamonds reported that diamond sales totaled $971,561 for 28,967-carats during its first fiscal half that ended December 31, 2010. The junior miner improved its cash position to $1.3 million from $700,000 six months earlier. Stellar also completed a share placement and raised $3 million in October to advance the Tongo and Droujba kimberlite projects.

Additionally, Stellar also raised $10 million through a share placement following its fiscal results, to accelerate development of the company’s kimberlite portfolio — including their projects in Guinea and Sierra Leone — and to fund general working capital requirements in line with the company’s growth strategy.





Peregrine Diamond Completes $8M Private Placement

Peregrine Diamonds completed a non-brokered private placement of 3 million common shares and raised $8.4 million. The common shares were sold on a “flow-through” basis and were bought by institutional investors, whose common advisor is a company insider. Proceeds from the fundraising will benefit the mining company’s mineral exploration projects in Canada, but are still subject to final regulatory approval.





Vaaldiam to Acquire 51% of Brauna

Vaaldiam Mining entered an agreement to increase its interest in the joint venture company, which holds its Braúna kimberlite diamond property in Bahia State, Brazil, from 20 percent to a majority 51 percent share. Vaaldiam plans to bring the Braúna 3 (B3) kimberlite pipe to production as quickly as possible. The company has commissioned Coffey Mining to prepare a preliminary economic assessment that should be completed this month.









ECONWATCH


For the week ending Mar. 10

Mar. 10 Mar. 3 Chng.
$1 = Euro 0.723 0.720 0.003
$1 = Rupee 45.28 44.95 0.3
$1 = Israel Shekel 3.58 3.60 -0.02
$1 = Rand 6.92 6.92 0.00
$1 = Canadian Dollar 0.98 0.97 0.01

Precious Metals
Gold $1,412.00 $1,416.30 -$4.30
Platinum $1,763.00 $1,823.00 -$60.00

Stock Indexes Chng.
BSE 18,327.98 18,489.76 -161.78 -0.9%
Dow Jones 11,985.14 12,258.20 -273.06 -2.2%
FTSE 5,845.29 6,005.09 -159.80 -2.7%
Hang Seng 23,614.89 23,122.42 492.47 2.1%
S&P 500 1,295.46 1,330.97 -35.51 -2.7%
Yahoo! Jewelry 1,016.23 1,014.85 1.38 0.1%

USA
Birks & Mayors $1.57 $1.48 $0.09 6.1%
Blue Nile $53.01 $53.81 -$0.80 -1.5%
Charles & Colvard $3.33 $3.53 -$0.20 -5.7%
DGSE Companies $4.45 $4.30 $0.15 3.5%
Fuqi Intl. $4.69 $4.13 $0.56 13.6%
JCPenney $36.88 $33.94 $2.94 8.7%
Kohl's $55.15 $54.33 $0.82 1.5%
LJ Intl. $3.95 $4.08 -$0.13 -3.2%
Macy's $23.63 $23.64 -$0.01 0.0%
Man Sang $4.41 $4.30 $0.11 2.6%
Movado Group $13.77 $14.80 -$1.03 -7.0%
Nordstrom $44.38 $44.63 -$0.25 -0.6%
Saks $12.62 $12.18 $0.44 3.6%
Signet $43.79 $45.08 -$1.29 -2.9%
Sotheby's $47.33 $49.72 -$2.39 -4.8%
Tiffany $61.98 $62.14 -$0.16 -0.3%
Walmart $52.72 $52.01 $0.71 1.4%
Zale $4.05 $4.19 -$0.14 -3.3%

EUROPE
Bulgari €12.16 €7.68 €4.48 58.3%
Bijou Brigitte €101.60 €102.99 -€1.39 -1.3%
Damiani €1.01 €1.03 -€0.02 -1.9%
LVMH €113.10 €112.95 €0.15 0.1%
PPR €108.50 €110.00 -€1.50 -1.4%
Richemont CHF 53.60 CHF 54.10 -CHF 0.50 -0.9%
Swatch Group CHF 387.90 CHF 394.50 -CHF 6.60 -1.7%
Theo Fennell (pence) 46.00 44.00 2.00 4.5%

INDIA (rupee)
Asian Star 1,056.40 1,083.00 -26.60 -2.5%
Classic Diamond 13.13 13.14 -0.01 -0.1%
C.Mahendra 254.90 206.10 48.80 23.7%
Gitanjali Gems 215.35 219.60 -4.25 -1.9%
Goenka Diamond 60.05 61.00 -0.95 -1.6%
Goldiam Intl. 35.00 31.60 3.40 10.8%
Rajesh Exports 120.40 123.80 -3.40 -2.7%
Ren. Jewellery 77.95 75.40 2.55 3.4%
Shantivijay Jewels 78.90 75.20 3.70 4.9%
Suashish Diamonds 139.00 141.05 -2.05 -1.5%
Su-Raj Diamonds 48.05 47.80 0.25 0.5%
Titan 3,473.75 3,452.85 20.90 0.6%
Vaibhav Gems 32.40 34.10 -1.70 -5.0%

NEW ZEALAND
Michael Hill NZD 0.87 NZD 0.86 NZD 0.01 1.2%

MINING STOCKS
CANADA
Harry Winston CAD 13.65 CAD 12.40 CAD 1.25 10.1%
Lucara Diamond CAD 1.10 CAD 1.18 -CAD 0.08 -6.8%
Mountain Province CAD 5.92 CAD 5.65 CAD 0.27 4.8%
Peregrine Diamonds CAD 2.08 CAD 2.07 CAD 0.01 0.5%
Rockwell Diamonds CAD 0.05 CAD 0.05 CAD 0.00 0.0%
Shore Gold CAD 0.80 CAD 0.84 -CAD 0.04 -4.8%
Stornoway Diamond CAD 2.14 CAD 2.08 CAD 0.06 2.9%
True North Gems CAD 0.12 CAD 0.12 CAD 0.00 0.0%
UK (pence)
Anglo American 3,112.00 3,360.50 -248.5 -7.4%
BHP Billiton 2,300.00 2,484.00 -184.0 -7.4%
Firestone Diamonds 30.29 33.00 -2.7 -8.2%
Gem Diamonds 267.00 284.70 -17.7 -6.2%
Gemfields 15.55 15.40 0.2 1.0%
Mwana Africa 7.92 9.50 -1.6 -16.6%
Namakwa Diamonds 57.00 58.00 -1.0 -1.7%
Petra Diamonds 163.00 174.14 -11.1 -6.4%
Rio Tinto plc 3,932.80 4,351.00 -418.2 -9.6%
Stellar Diamonds 8.09 8.61 -0.5 -6.0%










INDIA MARKET REPORT
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Jen tak pro zajímavost, je tady někdo,
kdo čte ty Grofikovi zašifrovanosti?
:roll:
Registrovaný uživatel
mimo Grofika asi ne...
kdo se tím žíví, sem jistě nechodí... :?
_______________
http://digi.ceskearchivy.cz/

Od té doby co jsem přestal být namyšlený, tak jsem už bez chyby... ;)
Registrovaný uživatel
turtleoverhead napsal
Jen tak pro zajímavost, je tady někdo,
kdo čte ty Grofikovi zašifrovanosti?
:roll:


ja ;) urcite je nas viac :)
Registrovaný uživatel
turtle ; je to štandartné týždenné hlasenie a pohyboch na diamantovom poli.
Vôbec sem nedávam týždenný prehľad o predaji farebných kamienkoch atd.,atd.
Taktiež nedávam cenu na farebné a biele kamene platnú pre rôzne odrody a kvalitu, je to môj koníček a dokonca sa aj trochu viem zorientovať v probléme. ;)
Moho ľudí si pozrie trebárs diskusiu na tému Antické mince ,verím 95% vôbec netuší o čom sa píše ,nemá prehľad o počte Cisárov,miestodržiteloch atd.atd.
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Dobrá, dobrá, tak se nerozčiluj, jen mně doopravdy zajímalo
kdo to čte.
;)
Registrovaný uživatel
Prepáč turtle;pokiaľ môj príspevok ti pripadal ako rozčulovanie :shock: :D v tom duchu to nebolo písané. ;)
_______________
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Registrovaný uživatel
Rapaport Weekly Market Comment Mar. 18, 2011


Financial markets slump as Japan’s earthquake, tsunami and radiation threat increases uncertainty about a global economic recovery. Prices for commercial quality diamonds steady. Dealers expecting higher prices for large expensive diamonds at next week’s important Basel Show as global economic and political uncertainty surge due to Japanese and Mid-East crises. Luxury jewelry and diamond mining shares drop while polished and rough demand continues to be strong. Interfax reports that Russia’s Gokhran plans to sell diamonds worth $105m in 2011. Gem Diamonds’ 2010 revenues +9% to $266m, profits +43% to $36m. U.K. watch & jewelry sales +2% to $7.5b in 2010.


RapNet Data: Mar. 17

Diamonds 693,999
Value $5,235,796,897
Carats 784,761
Average Discount -21.54%





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RAPAPORT ANNOUNCEMENTS


March
14-22
Mon-Tue

Rapaport NY Melee Auction
Over 50,000 carats
Tel. 1-212-354-9100
Email: auctions@rapaport.com

March
25
Fri

Rapaport Conference at Baselworld

Special Presentation by Martin Rapaport
How to Make Money in the Diamond Business
9 a.m. - 10:30 a.m.

Rapaport Fair Trade Jewelry Conference
10:30 a.m. - 12:30 p.m.

Basel Congress Center, Montreal Hall
Register Now




QUOTE OF THE WEEK:
[Wm. Scheer Jewelers] sort of put in place that standard for other jewelers in Rochester. With the Internet being what it is now, it's tremendously influenced the bread-and-butter heart of the jewelry business — the diamond engagement ring. Before, you'd ask mom and dad and they'd refer you to the 'family jeweler,' which in Rochester, that be Scheer's, but now they buy online. (Wm. Scheer to close after 111 years in the business.)

Jerry Laufer | Owner of Laufer & Tweet Jewelers, Rochester NY






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


U.S. Jewelry CPI +10%, Sets New Record in Feb.

The U.S. consumer price index (CPI) for jewelry hit a new high in February at 171.4 points, jumping 10 percent from one year ago. February marked the second consecutive month for which the reading topped 170 points and the 37th consecutive month of a reading higher than 150 points.





UK Jewelry & Watch Sales +2% in 2010

Retail jewelry and watch sales in the U.K. rose 1.8 percent to $7.45 billion in 2010. Sales were boosted by a strong performance in the watch sector and in cheap fashion jewelry, according to Research and Markets. There was also strength in the bridal category — despite the rough economic climate, most couples were unwilling to compromise on the quality of wedding bands and engagement rings.





Gokhran Plans to Sell $105M of Rough

Gokhran plans to sell precious metals and gems worth about $366 million in 2011, with about $105 million coming from diamond sales, including $17 million from export sales. The remaining $261 million will come from the sale of precious metals, excluding gold, mainly on export markets. It does not plan to buy diamonds or sell gold from its reserves, according to Interfax.






Diamdel to Process Applications in April

Beginning in April, Diamdel will process applications from companies wishing to register for its diamond auctions. Registration will be on a first-come, first-served basis and can be done here. Diamdel will accept registration from any company that utilizes rough diamonds.





Rapaport Weekly Broadcast

WATCH NOW: RBC Capital Markets noted that diamond industry equities will continue to feel the heat given the disaster in Japan. RBC expects that the demand for luxury goods would be significantly impacted by the scale of the personal and economic losses; overall it could pressure rough prices in the near-term. In the U.S., the Luxury Institute’s 2011 Consumer Experience Index ranked retailers on store personnel, shopping environment and the degree of satisfaction with the overall experience. Bergdorf Goodman, Nordstrom, and Brooks Brothers all earned highest marks









RETAIL & WHOLESALE


U.S. Sales Return Mixed Results

U.S. department store sales fell 1.9 percent to $15.5 billion in February from one year ago. However, the International Council of Shopping Centers (ICSC) reported that same-store sales at chain-stores rose by 3.8 percent. The National Retail Federation (NRF) also reported an increase for retail sales, excluding automobiles, gas stations, and restaurants, during February rose 4.2 percent.The higher income households are driving sales so far as middle and lower income households experience stagnate or declines in income. Neiman Marcus experienced a 6.4 percent increase in sales for its second quarter at $1.17 billion and profit surged to $21 million compared with only $3.96 million one year ago.





Bidz.com Reports Profit Plunge

Bidz.com reported that net revenues rose 6 percent year on year to $29 million during the fourth quarter that ended December 31. Net profit declined by 96 percent to $15,000 as cost of sales rose 13 percent to $21.9 million. The company warned of a slight slowdown in consumer spending at the start of 2011 with first quarter revenue forecasted to fall to between $23 million and $25 million down from $26.5 million one year ago.





Diamond in the Rough Launches Bridal Boutique

Diamond in the Rough is launching its first e-commerce bridal boutique. The bridal section will feature solitaire natural rough diamond ring designs. Each ring will be one-of-a-kind and feature a natural rough diamond center stone with micro pave diamond accents in 18-karat yellow and pink gold and platinum. Natural rough diamond bands will be also be available. The collection ranges in price from $3,500 to $10,000 retail, with special pieces topping $10,000 and bands starting at $2,000 retail.





United Brands Preps NBA Diamond Jewelry Market

United Brands' creative team will provide professional marketing services for Gameplan Concepts to promote the NBA Diamond Jewelry™ brand. Marketing initiatives will focus on leveraging Internet social media and public relations activities for building the NBA Diamond Jewelry brand across Facebook, Twitter, television and in print media. United Brands will work on connecting audiences, fans and collectors with member jewelry retailers in each NBA team location.





Michael Kors and Fossil to Debut Jewelry Collection

Fossil and Michael Kors will debut the Michael Kors Fall 2011 jewelry collection, offering women's earrings, necklaces, bracelets and rings. Pieces will range in price from $100 to $500 and will be available in select Michael Kors retail stores worldwide and sold through limited domestic and European wholesale partners beginning in the third quarter of 2011.





Kimberley Process Annual Reports Due April 1

The U.S. State Department requires that rough diamond importers and exporters file an annual report with the Office of the Special Advisor for Conflict Diamonds at the U.S. Department of State each year on April 1. Dealers who import rough diamonds must state the total carats of rough diamond imports and exports and any stockpiles remaining at the end of the calendar year. Reports should be submitted via email to USKimberleyProcess@state.gov. The Jewelers Vigilance Committee (JVC) is available to answer any questions.





FUQI Shares Hit 52wk Low

Shares in FUQI International plummeted to a 52-week low of $3.19 following its extension request to the SEC. The company stated that it was unable to prepare and review all necessary information and disclosures in its annual report and three quarterly reports for the period that ended December 31. As previously stated, FUQI identified accounting errors that require a restatement of its condensed consolidated financial statements for all three fiscal quarters in 2009, which were included in the extension request.









GENERAL


Forevermark U.S. Names Executive Team

De Beers diamond brand Forevermark appointed its core management team for the U.S. and confirmed Forevermark Diamantaires as it progresses toward a country launch. Charles Stanley will lead the team as the president of Forevermark U.S. Inc. The management under his guidance includes Sally Morrison, chief marketing officer; Colby Shergalis, vice president of marketing; Emmy Kondo, director of strategic planning; Lisa Cochin, director of partner relations; and Jamie Cadwell, director of public relations; and Kevin Lane, vice president of sales.

Meetings with potential U.S. Forevermark retailers are underway. Authorized Forevermark diamantaires include Crossworks, Dali-Alink, Diarough, Eurostar, Julius Klein, Leo Schachter, Pluczenik, Premier Gem, Rosy Blue, Trau, and Venus Jewel.





Chow Tai Fook Sub Invests in Ping An

Jin Jun Company, an affiliate of Chow Tai Fook, agreed to purchase 272 million shares in insurance and banking firm Ping An for approximately $2.5 billion. The transaction will be subject to the approval of the China Insurance Regulatory Commission and the China Securities Regulatory Commission. The number of shares to be issued accounts for approximately 3.4 percent of the enlarged issued share capital of Ping An.





Couture Design Awards Competition Underway

The Couture Design Awards competition will again be held this year during the Couture show at Wynn Las Vegas. This year’s competition will be a juried event, led by a panel of jewelry designers, Cornerstone retailers, jewelry and fashion editors all of whom will judge submissions for uniqueness of design, craftsmanship and salability. Retailers will also be voting for their favorite piece in order to provide a “People’s Choice” winner. Entries will be on display during the Couture show and can be submitted here.









MINING


Zim Reconciles Missing Diamond Accounts

Zimbabwe's Mines minister Obert Mpofu said that the ongoing dispute for so-called "missing" diamond revenue at the Treasury has been closed. The Finance Ministry now agreed that it had collected all $174.2 million from its share of diamond sales. Mpofu claimed that $313.5 million worth of rough had been sold out of Mbada Diamonds and Marange Resources. But it remains uncertain whether the total represented only 2010 sales, or just the period of August 2010 to February 2011





Mothae Diamond to Tender 8,500cts. in Antwerp

Mothae Diamonds, a subsidiary of Lucara Diamond, will hold its first diamond sale from March 21 through March 28 in Antwerp. Mothae Diamonds will offer about 8,500 carats of rough diamonds that were produced from bulk sampling and trial mining at the Mothae kimberlite in Lesotho. A 4 percent royalty from the sale will be payable to a Mothae partner, the government of Lesotho.





Gem Diamonds Profits Rise 43% in 2010

Gem Diamonds reported that net profits rose 43 percent to $36.2 million in 2010 and group revenues increased 9 percent to $266.4 million, driven by higher rough prices achieved in the fourth quarter. Despite a 13 percent decrease in volumes sold at Gem Diamonds’ flagship Letšeng mine in Lesotho to 88,564 carats, the average price of Letšeng stones rose 40 percent year on year to $2,149 per carat in 2010. Similarly, production sold at the Ellendale mine in Australia fell 48 percent year on year to 163,924 carats while the average price of the diamonds rose 105 percent to $475 per carat.





Guinea Sample Returns 565cts. for Stellar

Stellar Diamonds reported that its first sample from the Bouro north dyke in Guinea returned 565 carats. This sample returned a significantly high diamond grade of 243 carats per hundred tonnes. Rough diamond recovery included 20 stones greater than 1 carat and the largest diamond was 3.67 carats. Preliminary analysis found that 4 percent of the diamonds were classified as "gem quality," although that rate is expected to increase following the parcel's acidisation and cleaning in April. The diamonds will be valued and sold in Antwerp.









ECONWATCH


For the week ending Mar. 17


The diamond industry stock slide this week didn't qualify as a blood bath, but it was close. Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe.

Mar. 17 Mar. 10 Chng.
$1 = Euro 0.710 0.723 -0.013
$1 = Rupee 45.10 45.28 -0.2
$1 = Israel Shekel 3.55 3.58 -0.03
$1 = Rand 7.14 6.92 0.22
$1 = Canadian Dollar 0.99 0.98 0.01

Precious Metals
Gold $1,404.80 $1,412.00 -$7.20
Platinum $1,698.00 $1,763.00 -$65.00

Stock Indexes Chng.
BSE 18,149.87 18,327.98 -178.11 -1.0%
Dow Jones 11,774.59 11,985.14 -210.55 -1.8%
FTSE 5,696.11 5,845.29 -149.18 -2.6%
Hang Seng 22,284.43 23,614.89 -1,330.46 -5.6%
S&P 500 1,273.72 1,295.46 -21.74 -1.7%
Yahoo! Jewelry 946.27 1,016.23 -69.96 -6.9%
_______________
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Registrovaný uživatel
Rapaport Weekly Market Comment Mar. 25, 2011


TRADE ALERT: KP authorizes export of Marange diamonds that violate U.S. OFAC regulations. Rapaport warns the trade not to deal in these diamonds or list them on RapNet. Rapaport calls on all U.S. trade organizations to expel members that deal in these diamonds. News: Melee prices surging with significant price increases for top quality, very small sizes (0.005-0.03 ct. stars), due to powerful demand from developing markets for watches and branded jewelry. High expectations for large stone demand at Basel show. Tiffany & Co. 4Q sales +12% to $1.1B, net earnings +31% to $181M. Harry Winston 4Q sales +61% to $215M, net earnings of $10M vs. net loss of $3.4M. India’s Feb. polished exports +62% to $3.1B, rough imports +8% to $1.1B.




RapNet Data: Mar. 24

Diamonds 701,402
Value $4,735,802,401
Carats 790,099
Average Discount -28.38%





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RAPAPORT ANNOUNCEMENTS


March
25
Fri

Rapaport Conference at Baselworld

Special Presentation by Martin Rapaport
How to Make Money in the Diamond Business
9 a.m. - 10:30 a.m.

Rapaport Fair Trade Jewelry Conference
10:30 a.m. - 12:30 p.m.

Basel Congress Center, Montreal Hall
Register Now

April
4-13
Mon-Wed


Rapaport Single Stone Auction
New York & Israel
Diamonds in all shapes, sizes and qualities
E-mail: auctions@rapaport.com




April
4-8
Mon-Fri

Rapaport Melee Auction India
By appointment only
Auction Closes April 8 at 12 p.m. IST
E-mail: auctions@rapaport.com





QUOTE OF THE WEEK:
After a protracted reluctance to reach a consensus by specific Kimberley Process participants whose governments have imposed illegal sanctions on Zimbabwe, the current chair acted swiftly to remind the KP institution of its purpose for existence.

Obert Mpofu | Zimbabwe Mines Minister






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


KP Chair Authorizes Marange Exports

Kimberley Process (KP) chair Mathieu Zamba has given Zimbabwe “unilateral authorization” to export diamonds from the Marange, but his decision was made without consensus. The U.S. and E.U. consider the forthcoming rough exports to be non-KP complaint. Diamond industry groups such as the World Diamond Council (WDC), Jewelers of America (JA), the Diamond Manufacturers & Importers Association of America (DMIA), the Gems & Jewellery Export Promotion Council (GJEPC) have told members not to risk product integrity.

Prudent traders will ask for written assurances from suppliers that diamonds were not from the Marange. The U.S. Office of Foreign Assets Control (OFAC) vows to list companies that buy these diamonds. RapNet, the Rapaport Diamond Trading Network, will not allow the trading of any diamonds sourced from the Marange. Members found to have knowingly offered Marange diamonds for sale on RapNet will be expelled and their names will be publicly communicated.





Russia's Exports, ALROSA's Sales Jump in 2010

Russia exported approximately 40.4 million carats of rough diamonds in 2010 compared with 14.71 million carats in 2009, the Finance Ministry reported to Interfax. Rough diamond exports by value rose 126 percent to $2.78 billion while rough imports amounted to $61 million, a 51 percent decrease.

ALROSA produced a total of 34.3 million carats of rough, marking the second consecutive year that the mining giant surpassed De Beers diamond production. ALROSA reported combined sales of rough and polished diamonds of $3.48 billion up from approximately $2.2 billion in 2009. ALROSA also announced plans to issue an IPO in mid-2012 which could raise $3 billion and make the company the world’s largest listed diamond concern, its chief Fyodor Andreyev told Bloomberg Television.

Separately, the Financial Times reported that Rio Tinto may enter into a partnership with ALROSA, improving its access to rough supplies.









RETAIL & WHOLESALE


Rapaport Weekly Broadcast

WATCH NOW: Harry Winston reported a strong fiscal year with sales up 51 percent and profits of 27-cents per share, versus a loss of 99-cents per share one year ago. There were a number of key growth drivers in fiscal 2011, as well as strong rough price increases. Salons also produced impressive growth numbers from all regions. Tiffany & Co. reported a 14 percent increase in global sales, comp-store sales rose 8 percent and profits jumped 39 percent. Net inventories rose by double-digits in preparation for special store promotions this year.





U.S. Chain Stores Sales + 3%

Continuing their upward trend, U.S. weekly chain-store sales rose 3 percent compared with a year ago as reported by the International Council of Shopping Centers (ICSC). Overall ISCS Research expects widespread improvement in the retail sector as it claims that employment and economic conditions have improved enough to offset any negative effect from higher fuel and rising food prices.





Pandora Sales +93% in 2010, Profits +86%

For the fiscal year that ended December 31, Pandora reported sales of $1.3 billion, a jump of 93 percent from 2009. Net profit rose 86 percent to $354.5 million. Sales of charms rose 83 percent and silver and gold charm bracelets experienced 50 percent sales growth. Revenue from rings increased 282 percent.





H. Stern Launches New Diane von Furstenberg Collection

H. Stern introduced Sutras, an Indian-inspired assortment of bracelets, pendants, earrings and rings as part of the Diane von Furstenberg by H. Stern Collection. The gold and rock crystal jewelry features engravings with inspirational words from von Furstenberg such as Love, Laughter, Freedom, Harmony, Confidence, Truth and Life.





Christie’s New York Auction on April 12

More than 300 jewelry items, including fancy colored diamonds in pink, blue and yellow, will be featured at Christie’s New York Magnificent Jewels sale on April 12. The highlight of the sale will be a 10.09-carat, fancy vivid purple-pink diamond ring with a presale estimate of $12 million to $15 million. Other top lots include a 37.16-carat, D, internally flawless rectangular diamond flanked on either side by three-graduated baguette-cut diamonds and mounted in platinum, and a 50.29-carat fancy yellow diamond ring by Carvin French. Read more.





Sotheby's New York Auction on April 14

Sotheby’s Magnificent Jewels auction in New York on April 14 includes 380 lots with major gemstones in every color. Highlights of the sale include a 30.52-carat, D, VVS1, emerald-cut diamond ring. Among the rarest diamonds on offer is a 3.18-carat, internally flawless, marquise-shaped fancy vivid blue ring with a presale estimate of $3 million to $4 million. The “Distinguished Family Collection” covers 47 lots and includes pieces by Cartier as well as gold tabletop accessories. Read more.





Bidz.com Reveals New Website Design

Bidz.com relaunched its website with new user-friendly features that include improved search capability, personalized recommendations and an enhanced check-out process. Designed to increase conversion, the website will also highlight daily deals.





WFDB Registration Closes on March 30

Registration for the 2011 WFDB Presidents' meeting, to be held April 11-13, will close on March 30. In addition to the usual agenda, Peter Meeus, chairman of the Dubai Diamond Exchange (DDE), noted that the Dubai Multi Commodities Centre (DMCC) organized the "WFDB African Summit" for April 13 to bring together representatives from leading African diamond producing countries. A number of government reps have confirmed their participation.









MINING


Gemfields Nets $10M at Rough Emerald Auction

Gemfields achieved $9.9 million from the auction of its predominantly lower-quality rough emerald and beryl in Jaipur. Almost 13 million carats were sold out of the 16.8 million carats offered at auction. One year ago, this auction in Jaipur sold 22.8 million carats for $7.2 million.





Gem Diamonds Confirms Merger Talks with Lucara

Gem Diamonds confirmed that it was engaged in preliminary talks with Lucara Diamond Corp. regarding a potential merger. According to Bloomberg, talks began in February. Gem Diamonds owns the Letseng mine in Lesotho and the Ellendale mine in Australia. Lucara is in the trial mining phase at the Mothae mine and operates AK6 in Botswana.





Indicator Mineral Options Diamonds North Project

Indicator Minerals entered into an option agreement with Diamonds North Resources on the Barrow diamond project in Nunavut, Canada. Diamonds North can earn a 60 percent stake by investing $2 million in development that covers more than 72,000 acres of mineral claims.





Cameroon Awards License to Botswana Diamonds

Botswana Diamonds was awarded a 3,122 square mile diamond exploration reconnaissance license in Cameron. The license was issued for a 12-month period, with the option for automatic renewal based upon completion of work including samples and geological mapping. The company holds 85 percent of the concession, with the remaining 15 percent held by local Cameroon partners.





Afri-Can Charters Sampling Vessel

Afri-Can Marine Minerals Corporation signed a charter agreement with the International Mining and Dredging Holding company for a mining vessel capable of undertaking a diamond-sampling program on the EPL 3403 marine diamond concession located off the coast of Namibia. The program is scheduled to begin at the end of this month.









ECONWATCH


For the week ending Mar. 24


The diamond industry stock slide one week ago bounced back this week as gainers outnumbered the losers. Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe.

Mar. 24 Mar. 17 Chng.
$1 = Euro 0.705 0.710 -0.005
$1 = Rupee 44.63 45.10 -0.5
$1 = Israel Shekel 3.56 3.55 0.01
$1 = Rand 6.87 7.14 -0.27
$1 = Canadian Dollar 0.97 0.99 -0.02

Precious Metals
Gold $1,428.90 $1,404.80 $24.10
Platinum $1,751.00 $1,698.00 $53.00

Stock Indexes Chng.
BSE 18,350.74 18,149.87 200.87 1.1%
Dow Jones 12,170.56 11,774.59 395.97 3.4%
FTSE 5,880.87 5,696.11 184.76 3.2%
Hang Seng 22,915.28 22,284.43 630.85 2.8%
S&P 500 1,309.66 1,273.72 35.94 2.8%
Yahoo! Jewelry 988.92 946.27 42.65 4.5%











INDIA MARKET REPORT


Polished and rough trading activity

Local polished activity remains soft. Traders take a "wait and see" approach to prices. Liquidity concerns emerge as financial books prepare to close for the year on March 31. Rough diamond activity in Antwerp and from the local rough markets cools due to rumors of decreases of premium in rough goods
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No konečně,
už jsem tu byl jak na trní.
;)
Registrovaný uživatel
turtle :twisted: něnězvôzňi :twisted: čeče... :lol: :mrgreen:

ja viem Tebe to nepovie nič,nakoniec aj dalším 99,8% návštevníkom, ale pre profíka občas stačí jedna veta. :shock: ;)
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grofik napsal
Liquidity concerns emerge as financial books prepare to close for the year on March 31.

Proč March 31. ?
Finanční rok přece končí až June 31.
:roll:
To se pak nemůžou divit že: "Local polished activity remains soft".
8)
« Poslední úpravu provedl(a) turtleoverhead v 28. 3. 2011, 2:37. »
Registrovaný uživatel
Nie celkom je to tak turtle ;)

V každom štáte je to inak..... :roll:
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Rapaport Weekly Market Comment May 13, 2011


Polished shortages expected to linger as Indian diamond cutting slows during summer vacations. De Beers sells Namaqualand Mines to Trans Hex for $33m and reports softer rough demand at Diamdel April / May auctions. BHP Billiton approves $323m Ekati mine development and appoints Tim Cutt as president of diamonds and specialty products. U.S. 1Q online retail sales +12% to $38b. Sotheby’s 1Q revenues +17% to $120m, net income of $2.4m vs. net loss of $2.2m. U.S. March polished imports +25% to $1.9b, polished exports +28% to $1.6b.


RapNet Data: May 11

Diamonds 726,546
Value $4,910,663,333
Carats 809,589
Average Discount -26.74%





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RAPAPORT ANNOUNCEMENTS


May
16-20
Mon-Fri

Rapaport Melee Auction
New York - by appointment only
Close: May 20 at 12 p.m.

email: auctions@rapaport.com



May
16-24
Mon-Tue

Rapaport Single Stone Auction & Buy Now Sale
New York & Israel
Diamonds in all shapes, sizes and qualities.

email: auctions@rapaport.com

June
5
Sun

Rapaport Conference at JCK Vegas
Mandalay Bay Resort

8 a.m. - 10 a.m.
Breakfast and presentation by Martin Rapaport, Chairman of the Rapaport Group

10 a.m. - 11 a.m.
Diamond Certification Conference

2 p.m. - 4 p.m.
Fair Trade Jewelry Conference

Participation is free, but seating is limited so register now. www.diamonds.net/jck2011


June
3-4
Fri-Sat

JCK Vegas Show
Shabbat dinner and lunch
Order now.





QUOTE OF THE WEEK:
Faced with rapidly rising gas prices and stubbornly high unemployment, consumers continued to take advantage of the Internet’s lower prices by shifting their spending from offline retail stores. In fact, in the first quarter, the growth in e-commerce spending was roughly double that observed at offline retail. While we would expect online buying to dampen slightly if gas prices continue to eat into discretionary spending, it’s clear that e-commerce has become a mainstay in consumer behavior, driven by the attraction of both lower prices and convenience.

Gian Fulgoni | comScore chairman






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


April Sales Offer Mixed Results

U.S. department store sales in April 2011 were flat at $14.3 billion on an unadjusted basis compared with April 2010. On an adjusted basis however, the figure dropped 1.9 percent to $15.3 billion, according to the government. The figure was disappointing considering easy year on year comparisons due to Easter landing later in the month. Retail trade sales rose 7.9 percent year on year. MasterCard Advisors’ SpendingPulse on the other hand reported that April's retail sales in the U.S., excluding auto sales, grew by 8.8 percent year on year. But spending on gasoline helped drive overall sales figures higher. Retail sales, excluding both gasoline and autos, rose 6.7 percent year on year.

In separate quarterly reports, Macy’s recorded sales rose almost 6 percent year on year to $5.9 billion while same-store sales rose 5.4 percent and profit rose to $131 million from $23 million in 2010. Kohl's reported sales rose 3 percent to $4.2 billion, same-store sales increased 1.3 percent and profit rose 5 percent to $211 million. Neiman Marcus recorded a sales increase of 10 percent at $984 million and same-store sales rose 9.7 percent.





Diamdel Sells All 218 Lots

Diamdel offered and sold 218 lots of rough diamonds at its second cycle of auctions, which was held from April 13 through May 3. Diamdel observed that rough demand remained strong across the board, but softer than it has been, with price growth experienced in sizes above 2-carat, as well as for grainers and smalls. Interestingly enough, prices for near-gem and large ranges stabilized from recent highs.





Rapaport Weekly Broadcast

Watch Now: Preview top lots from Sotheby's Geneva for its upcoming Magnificent Jewels & Noble Jewels sale on May 17. An important emerald and diamond tiara and a superb fancy intense pink diamond weighing 10.99 carats will be up for auction. The sale also comprises fine jewels of noble provenance, and an impressive array of white diamonds and colored gemstones including Kashmir sapphires and two important Burmese rubies.









RETAIL & WHOLESALE


Bulgari Posts Strong Profit Increase

Bulgari Group posted a net profit of $13.4 million following the first quarter loss of $11.9 million one year ago. In April the luxury retailer reported group revenues rose 28 percent to $370.8 million with jewelry revenues up 29 percent to $166.6 million.





U.S. Online Retail +12% in April

Online retail sales during the first quarter of 2011 in the U.S. rose 12 percent year on year to $38 billion, according to metrics firm comScore Inc. There was a 4 percent decline in per-transaction receipts, but a 7 percent increase in the number of those who purchased products online, comScore found.





Swank 1Q Sales +2%

Swank reported less than a 2 percent year on year increase in first quarter sales at $26.1 million. But the company reduced cost of sales and managed to report a profit of $32,000 compared with a net loss of $457,000 one year ago. Sales of men's jewelry and belts declined, but total sales of leather goods were higher. Gross profit expressed as a percentage of net sales was 31.5 percent for the first quarter, up from 26.4 percent one year ago.





Thangamayil 1Q Sales +68%

Thangamayil Jewellery reported its fourth quarter revenue rose 68 percent year on year to $42 million for the three months that ended March 31. Net income rose 112 percent to $1.8 million. Fiscal year sales rose 46 percent to $147 million and profit nearly doubled year on year to $7 million.





Sotheby’s 1Q Revenue +17%

Revenue increased 17 percent to $119.6 million during Sotheby's first quarter and expenses rose 15.6 percent year on year to $108.6 million, leaving operating income of nearly $11 million, which was up from $7.9 million one year ago. Sotheby's reported net income of $2.4 million, up from a net loss of $2.2 million in first quarter 2010.





QVC 1Q Sales +4%

QVC reported first quarter revenue rose 4.4 percent year on year to $1.84 billion, with U.S. sales rising by 3.1 percent and international sales up 7 percent. Gross margin as a percentage of sales tightened for the U.S. market to 35.1 percent from 35.6 percent, but margin improved to 36.9 percent for international sales from 36.6 percent one year ago. QVC delivered operating income of $225 million to parent company Liberty Media, which was a 3 percent year on year decrease. Jewelry sales at QVC continued to decline, as they have for several quarters, while sales of electronics, beauty and accessories increased. The average selling price for the first quarter increased 7 percent to $54.83 while total units sold decreased 3 percent.





Wealthy Consumers Pick Graff as No.1

High-net-worth consumers in the U.S. chose Graff, Buccellati and Asprey, in that order, as the top luxury jewelers, according to the latest Luxury Brand Status Index (LBSI) issued by the Luxury Institute. The top luxury watch brands were Blancpain, Rolex and Vacheron Constantin. Consumers earning at least $200,000 a year rated each brand on quality, exclusivity, social status and overall ownership experience. They also rated brands’ price worthiness, their willingness to recommend it and the likelihood they’ll buy it next time they make a purchase in the category.









GENERAL


BHP Taps Cutt for Diamond Division

BHP Billiton appointed Tim Cutt as its president of diamonds and specialty products with an effective date of Jun 1. Cutt will be based out of BHP's Saskatoon offices in Saskatchewan, Canada. In addition, the mining giant will relocate the diamonds and specialty products business from Vancouver to Saskatoon in the coming months. Cutt is currently president of production in BHP Billiton’s petroleum business, a position he has held since joining the company in 2007.





Rockwell Names Campbell as CEO

Rockwell Diamonds appointed James Campbell as president and chief executive five months following the departure of John Bristow. Campbell is currently vice president of new business at Lucara Diamond Corporation. Campbell said that Rockwell has overcome a number of significant challenges in the past two years, and is on the verge of delivering on its growth potential.





Zale Names Appel as Chief Administrator

Zale Corporation appointed its chief financial officer, Matt Appel, as chief administrative officer. In this dual role, Appel will be responsible for real estate, supply chain and logistics, merchandise planning and allocation, information technology, warranty, repair and credit products, in addition to ongoing management of finance and control functions.





Antwerp Election Results

The Antwerp Diamond Bourse (Beurs voor Diamanthandel) announced the election results for its board of directors.

Yves Diamant received 436 votes
Jacques Roth received 431 votes
Jacques Korn received 373 votes
Kaushik Mehta received 347 votes
Abraham Pinchasi received 319 votes
Liran Horovitz received 302 votes





Sarin 1Q Revenue -10%

Sarin reported a 9.6 percent year on year decrease in revenue for its first quarter at $12.3 million. Profit fell 25 percent to $3.3 million. India represented the strongest geographic sector, representing $9.4 million in sales, which was a drop of 15 percent year on year, followed by Africa with sales of $1.1 million, which was 20 percent higher than one year ago. Sales in Europe jumped 36 percent to $437,000, but fell 15 percent in North America at $212,000. Research and development expenses rose 19 percent to $1.3 million and primarily reflected "refinement and enhancement" of its Galaxy and Solaris systems functionality along with other programs.









STATS


U.S. Imports & Exports

Figures are rounded Mar. $Mil. %Chng.
Polished imports $1,940 25%
Polished exports $1,560 28%
Net imports $387 15%

Rough imports $37 -18%
Rough exports $42 103%
Net imports ($5)

Net diamond account $382 6%






Belgium Imports & Exports

Figures are rounded Apr. $Mil. Chng.
Polished exports $1,000 45%
Polished imports $1,000 43%
Net exports $2

Rough imports $857 -5%
Rough exports $1,130 26%
Net imports ($272)

Net diamond acct. $274










MINING


BHP Funds Misery Project

BHP Billiton approved $323 million in funding for pushback on its existing Misery open pit project at the Ekati diamond mine and stripping operations are expected to begin in October 2011. BHP expects ore production to begin in late 2015 and final production from Misery pit in mid 2017.





Trans Hex Buys Namaqualand

De Beers agreed to sell it Namaqualand Mines to Trans Hex in a transaction valued at about $33.4 million. The purchase was described as a cash deal in which a 50 percent share would be held by Trans Hex; a 34 percent stake by major Trans Hex investor RECM and Calibre Limited; and an 11 percent share held by Dinoka Investment Holdings. Trans Hex`s management team hold all shares of Dinoka, with the majority being held by historically disadvantaged South Africans. The remaining 5 percent stake has been allocated to broad-based, historically disadvantaged groups of persons, which still has to be determined, according to Tran Hex.

The Namaqualand Mines are close to Trans Hex`s Baken alluvial mining operations on the West Coast of South Africa. In addition to the purchase agreement, Trans Hex will contribute ZAR 10 million, or about $1.5 million, towards costs associated with ongoing environmental rehabilitation activities to be undertaken by DBCM in relation to Namaqualand Mines.





Gahcho Kue Valuations Improve

Mountain Province Diamonds reported that its valuation of diamonds recovered from the Gahcho Kue project had increased 41 percent from April 2010 to $122 per carat. The stone with the highest value from the sampling was 9.90-carats, a makeable stone of high color (D/E), and valued at $24,000 per carat.









ECONWATCH


For the week ending May 12

Most diamond industry-related shares recovered this week from a widespread loss two weeks ago. But still, shaky ground with some very wide swings on certain stocks. Man Sang's parent company lost 44%, Zale gained 14%, Asian Star was up 12%, Ren. Jewellery gained 18%, Vaibhav Gems was up 10%, Gemfields was 13% higher, but Mwana Africa lost 12%. Also note how Tiffany has been up, up, and away of late as it tickles the $70 price mark. Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe.

May 12 May 5 Chng.
$1 = Euro 0.704 0.687 0.017
$1 = Rupee 44.79 45.99 -1.2
$1 = Israel Shekel 3.49 3.42 0.07
$1 = Rand 6.91 6.73 0.18
$1 = Canadian Dollar 0.97 0.96 0.01

Precious Metals
Gold $1,504.30 $1,474.10 $30.20
Platinum $1,766.00 $1,763.00 $3.00

Stock Indexes Chng.
BSE 18,335.79 18,210.58 125.21 0.7%
Dow Jones 12,695.92 12,584.17 111.75 0.9%
FTSE 5,944.96 5,919.98 24.98 0.4%
Hang Seng 23,073.76 23,261.61 -187.85 -0.8%
S&P 500 1,348.65 1,335.10 13.55 1.0%
Yahoo! Jewelry 1,071.06 1,021.93 49.13 4.8%
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Rapaport Weekly Market Comment May 20, 2011


Strong polished demand as expectations rise for JCK Vegas show. Manufacturing profits under pressure as rough price increases continue. De Beers appoints Philippe Mellier as new CEO and lowers stake in Namibia marine operations to 50%. Sotheby’s Geneva sells $89.1m (90% by lot) with Leviev buying 10.99ct., fancy intense pink diamond ring for $10.8m ($986k/ct.). Christie’s Geneva sells $78.7m (84% by lot) with Graff buying heart shape, 56.15ct., D, IF for $10.9m ($195k/ct.). Richemont FY’11 sales +33% to $9.8b, profits +80% to $1.5b. India’s April polished exports +6% to $2b, rough imports +36% to $1.5b.


RapNet Data: May 19

Diamonds 713,748
Value $4,946,596,305
Carats 801,585
Average Discount -26.80%





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RAPAPORT ANNOUNCEMENTS


May
16-24
Mon-Tue

Rapaport Single Stone Auction & Buy Now Sale
New York & Israel
Close: May 24 at 10 a.m. EDT

email: auctions@rapaport.com



June
3-6
Fri-Mon

Rapaport Buy Now Sale
June 3, 5 & 6
JCK Las Vegas Show
Booth B3553

email: auctions@rapaport.com

June
5
Sun

Rapaport Conference at JCK Vegas
Mandalay Bay Resort

8 a.m. - 10 a.m.
Breakfast and presentation by Martin Rapaport, Chairman of the Rapaport Group

10 a.m. - 11 a.m.
Diamond Certification Conference

2 p.m. - 4 p.m.
Fair Trade Jewelry Conference

Participation is free, but seating is limited so register now. www.diamonds.net/jck2011


June
3-4
Fri-Sat

JCK Vegas Show
Shabbat dinner and lunch
Order now.





QUOTE OF THE WEEK:
Global capital is highly mobile - and therefore investors will seek to put their money where they are likely to get the highest return on their investment. To be absolutely clear though; the magic that Namdeb management have performed year in and year out can no longer be sustained without significant fresh capital. [Namibia shall] lead the way in this venture by creating a long-term fiscal environment that will enable Namdeb to attract the new investment it will need to make this plan a reality.

Bruce Cleaver | acting CEO, De Beers Group






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


De Beers Names Mellier as CEO

De Beers Group named Philippe Mellier as its new chief executive officer (CEO) some 10 months after the role was vacated by Gareth Penny. Mellier is expected to being in July, following eight years as president of Alstom's transport division. Group chair Nicky Oppenheimer stated that appointment signaled De Beers' determination to lead in a rapidly changing world. Mellier oversaw a business unit with sales of almost $8.5 billion.

In a separate announcement, De Beers Diamond Jewellers appointed Devon Pike as CEO of its U.S. business. She joins the company after serving as senior vice president at Juicy Couture and prior to that as an executive at Polo Ralph Lauren. Pike noted that she would take the brand to the next level of success in the U.S.





Platinum Demand For Jewelry Weakens

Global demand for platinum in jewelry fell 14 percent in 2010, according to the “Platinum 2011" report by Johnson Matthey. Platinum for jewelry in China, which accounts for two-thirds of the global demand, dropped by more than 16 percent year on year to 1.65 million ounces. China, alongside Japan, also took the lead in platinum recycling – which, at 745,000 ounces, reflected a 32 percent increase from 2009, the report found. Platinum jewelry demand was marginally lower in Europe at 175,000 ounces, a decrease of only 6 percent, according to the report. The number of hallmarked jewelry pieces produced in the U.K. and Switzerland, however, increased in 2010, demonstrating some underlying growth in consumer demand. Bucking the down trend, the North American market experienced a 30 percent increase in platinum for jewelry at 175,000 ounces.





U.S. Jewelry Prices Rise

The U.S. consumer price index (CPI) for jewelry hit a record in April, jumping 9.6 percent year on year to 175.49 points. It was the fourth consecutive month for which the reading topped 170 points and the 39th consecutive month to post a reading higher than 150 points. The CPI for all product categories rose 3.1 percent year on year.









RETAIL & WHOLESALE


Rapaport Weekly Broadcast

Watch Now: Sotheby's Geneva sold a very important and rare 10.99-carat fancy intense pink diamond ring for $10.84 million to Leviev. An emerald and diamond tiara that was formerly in the collection from Princes Katharina Henckel Von Donnersmarck fetched $12.74 million. In all, Sotheby’s garnered sales of $89.1 million with 90.4 percent by lot.





Christie's Geneva Jewels Sale at $79M

Christie's sale of magnificent jewels in Geneva achieved just shy of $78.7 million and was 84 percent sold by lot. The top lot was an unmounted 56.15-carat, D, IF, type IIa heart-shaped diamond, which sold to Graff for $10,946,522 or about $195,000 per carat. Christie's sold a 130.50-carat, cushion-cut Burmese ruby to Ben Mellen & Son for $7,122,742. A private snatched-up a rectangular-cut, fancy intense blue, 6.60-carat, IF diamond for $5,465,814 or $828,000 per carat during the sale. Another important piece, an imperial Mughal spinel necklace, sold to a private for $5,210,902.





Richemont FY Profits +80%

Richemont closed a strong fiscal year spurred by record sales and profits at its jewelry maisons. Group sales rose 33 percent to $9.84 billion for the fiscal year that ended March 31, with growth recorded in all regions and product categories. Net profits jumped 80 percent to $1.54 billion. Sales at its jewelry maisons rose 29 percent to $4.96 billion with operating profits grew 43 percent to $1.52 billion. Sales at its specialist watchmakers business increased 22 percent to $959 million.





Flawless Posts FY Loss

Flawless Diamond Ltd. reported that net sales fell 38 percent to $87.1 million, during the fiscal year that ended March 31. Expenses fell by 36 percent to $85.8 million, but the company posted a net loss of $432,981 compared with a profit of $3.3 million.





Su-Raj FY Profit +61%

Su-Raj Diamonds reported that net sales rose 42 percent to $1.07 billion for its fiscal year that ended March 31. Jewelry sales increased 18 percent to $187.7 million while diamond sales grew 47 percent to $757.7 million. Expenses grew 43 percent to $1.04 billion and net profits rose 61 percent to $30.5 million.





Suashish FY Profit -14%

Suashish Diamonds Limited reported that fiscal year sales fell 16 percent to $234.9 million for the period that ended March 31. Expenses fell 18 percent to $225.6 million and net profits decreased by 14 percent to $13.4 million.





Pandora 1Q Profit +91%

Pandora reported a first quarter sales increase of 41 percent year on year to $334.8 million and net profit growth of 91 percent to $98.5 million. The cost of sales for the first quarter rose 20 percent to $94.7 million and gross margin as a percentage of sales increased to 71.6 percent from 70.8 percent one year ago. Roughly 70 percent of Pandora's revenue came from the sale of charms, which rose 39 percent year on year. Sales of rings rose 149 percent during the first quarter.





LJ Intl. 1Q Profit +89%

LJ International reported that operating revenue for its first quarter, which ended March 31, rose 62 percent to $43.4 million and cost of goods sold increased 58 percent to $24.9 million. Net income for the quarter jumped 89 percent to $3.5 million. Revenues from LJ's retail chain ENZO improved 69 percent year on year to $27.8 million while wholesale revenue rose 49 percent to $15.6 million, according to the company. ENZO's gross profit increased 75 percent to $15.3 million while wholesale gross profit rose 36 percent to $3.2 million. Gross margins for retail operations rose to 55 percent of net sales from 53 percent one year ago, while wholesale gross margins decreased two percentage points to 20 percent.





Bergio 1Q Loss Narrows

Bergio International reported that sales during the first quarter that ended March 31, rose 144 percent to $270,551 and cost of sales jumped 706 percent to $181,053. Bergio reported a net loss of $177,830, which was an improvement from the loss of $195,358 reported one year ago.









GENERAL


WDC to Address KP Issues in Vegas

The World Diamond Council (WDC) will host a briefing at JCK on the efforts underway to resolve current challenges to the Kimberley Process. The event also will cover the implementation of the WDC's System of Warranties. The panel presentation, which is entitled "Diamond Dialogue: The Challenges of a Robust Kimberley Process," will take place on June 2, 1:30 p.m. to 2:45 p.m., in the Tradewinds AB room at the Mandalay Bay Convention Center, in Las Vegas.





GIA Symposium Creates 'Shipwrecked!' Debate

The GIA Symposium 2011 will feature a "Shipwrecked!" theme debate on May 30, where (hypothetically) stranded industry players must reconcile fair trade standards with the realities of politics and the marketplace in order to be rescued. The debate platform will enable discussion on issues affecting the industry, but without prepared statements or speeches.

Debate participants include Dr. Brian Nattrass, managing partner of Sustainability Partners; Susan M. Jacques, president of Borsheims; Tom Cushman, managing director of Richfield Investor Services; Richard Drucker, president of Gemworld International; Martin Rapaport, chairman of the Rapaport Group; and Dr. George Rossman, professor of mineralogy at Cal Tech.





AGS Names Honorees

The American Gem Society (AGS) announced its 2011 Circle of Distinction Honorees, all of whom will be recognized at the 11th Circle of Distinction Dinner on July 26 in New York. The recipients of the prestigious Lifetime Achievement Award are David and Sybil Yurman of David Yurman. The 2011 recipients of the Triple Zero Awards are Kathryn Kimmel, vice president and chief marketing officer of the Gemological Institute of America; and David L. Rocha, executive director of Jewelers for Children.





Antwerp Election Results

The Antwerp Diamond Bourse, Beurs voor Diamanthandel, appointed Maurice Fischler as its new president following biennial elections. Jacques Roth was elected vice president, and Jacques Korn and Bernard Weinberg were named executive directors. In addition, the following elected officials join the bourse executives on the board: Yves Diamant, Alain Majerczyk, Liran Horovitz, Kaushik Mehta, David Pienica, Marcel Pruwer and Raphael Rubin.









STATS


India Imports & Exports

Figures are rounded April $Mil. Chng.
Polished exports $2,040 6%
Polished imports $1,480 16%
Net exports $553 (16%)

Rough imports $1,310 36%
Rough exports $95 20%
Net imports $1,220 38%

Net diamond acct. ($667)






Israel Imports & Exports

Figures are rounded April $Mil. Chng.
Polished exports $256 (47%)
Polished imports NA
Net exports NA

Rough imports NA
Rough exports $249 7%
Net imports NA

Net diamond acct. NA










MINING


De Beers, Namibia Reach Agreement

De Beers and Namibia reached an agreement in which the country will increase its shareholding in De Beers Marine Namibia (DBMN) to 50 percent from 15 percent. As part of the agreement, the shareholders have agreed to establish a new 50/50 joint venture holding company for Namdeb and DBMN. The new firm will hold all operating licenses both for land and sea and will own the diamonds mined from those areas. Currently, operations are controlled by Namdeb.

All diamonds produced by Namdeb and DBMN will continue to be sorted, valued and marketed exclusively by the Namibia Diamond Trading Company (NDTC), which is also a joint venture between Namibia and De Beers. The new structure will be implemented after statutory, regulatory and other commercial conditions have been met, which is expected during the second half of 2011.





Harry Winston Deal to Secure Additional Supply

Harry Winston Diamond Corporation entered into a business relationship with Diamond Asset Advisors AG, a group that is in the process of establishing a polished diamond investment fund. The fund will be structured as a limited partnership, of up to $250 million, offering institutional investors direct exposure to the wholesale market price of polished diamonds.

Under the terms of the agreement, Harry Winston will source diamonds that have the same high quality characteristics that it uses in jewelry and timepieces, with a portion coming from the company's existing inventory. The fund will purchase these diamonds and then consign them to Harry Winston, acting as custodian. Harry Winston will use the polished diamonds in the manufacturing of its jewelry and timepieces. The price paid to replace polished diamonds sold by Harry Winston in its finished products will be used by the fund as a basis for determining the market value of the fund.

Prior to this announcement, UBS analyst Brian MacArthur upgraded his price target on Harry Winston Diamond to $17.75 per share from $16.50 citing improved rough and polished diamond prices. He also wrote that the company expects higher production from Diavik this year and that the luxury goods trade was strengthening, especially for jewelry. Harry Winston shares opened on May 19 at $15.13.





Gem Diamonds Resource Valuation Improves

Gem Diamonds updated investors on its mineral resources and reserves and pricing. Total diamond resource was reported as 28.89 million carats with an average value of $536 per carat, which was an increase of 45 percent from previous valuation. The Letšeng mine in Lesotho has a total resource of 3.66 million carats; Gope in Botswana has total resource of 20.5 million carats; Ellendale in Australia holds total resource of 4.7 million carats.





De Beers Canada Releases Annual Report

In its annual sustainability report, De Beers Canada stated that it employed 1,087 people and had injected approximately $474 million into Canada's economy during 2010. The group mined 1.75 million carats, with 926,000 carats coming out of Snap Lake and 826,000 carats from Victor. Snap Lake service contracts totaled $119 million and $104 million in services were supplied by northern businesses while $48 million of that amount came from Aboriginal suppliers. At Victor, $93 million was spent on goods and services and $49 million of that amount was supplied by Aboriginal businesses.









ECONWATCH


For the week ending May 19

Tiffany & Co. broke the $70 per share mark this week. Most U.S. jewelry-related shares were weaker though, with Birks & Mayors dropping the most, by 13%, and Zale was off by 7% this week. European shares were basically flat, except Damiani rose 9%. In India, Ren. Jewellery jumped 19%, while Suashish Diamonds lost 11%. Mining stocks were stable except for a 10% gain on shares of Truth North, and an 11% loss for Mwana Africa's shares. Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe May 19 May 12 Chng.
$1 = Euro 0.700 0.704 -0.004
$1 = Rupee 44.99 44.79 0.2
$1 = Israel Shekel 3.49 3.49 0.00
$1 = Rand 6.88 6.91 -0.03
$1 = Canadian Dollar 0.96 0.97 -0.01

Precious Metals
Gold $1,494.40 $1,504.30 -$9.90
Platinum $1,765.00 $1,766.00 -$1.00

Stock Indexes Chng.
BSE 18,141.40 18,335.79 -194.39 -1.1%
Dow Jones 12,605.32 12,695.92 -90.60 -0.7%
FTSE 5,955.99 5,944.96 11.03 0.2%
Hang Seng 23,163.38 23,073.76 89.62 0.4%
S&P 500 1,343.60 1,348.65 -5.05 -0.4%
Yahoo! Jewelry 1,067.59 1,071.06 -3.47 -0.3%
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Rapaport Weekly Market Comment June 17, 2011


Rough markets overheating with polished prices firming rapidly. Indian sellers are holding back goods until they get replacement cost. Shortages developing due to strong Indian, Chinese and Far East buying, good trading ahead of next week’s Hong Kong show and rising demand from U.S. and European jewelry manufacturers. DTC June sight est. at $650M with about 12% price increase for better-quality rough. ALROSA’s 2Q sales +30% to $1.3B. Christie’s New York sells $11.7M (94% by lot) with oval, 46.51ct., E, VVS2 diamond selling for $4.2M ($91,000/ct). Caution: While current price levels appear sustainable, markets may be heading towards speculative bubble.


RapNet Data: June 16

Diamonds 681,199
Value $4,961,092,287
Carats 768,261
Average Discount -23.83%





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RAPAPORT ANNOUNCEMENTS


June
21-26
Tue-Sun

Rapaport Buy Now Sale
Hong Kong

email: auctions@rapaport.com




Jun-Jul
27-5
Mon-Tue

Rapaport Single Stone Auction
New York & Israel

email: auctions@rapaport.com




QUOTE OF THE WEEK:
[Washington's] failure to understand why small-business owners are not hiring or investing has resulted in a set of policies that have not been very effective, and Main Street is suffering. The icing on the cake: The growing debt, large deficits, threats of higher taxes, regulations being spewed out by state and local administrations, and the uncertainty of the new health care law—is it any wonder that optimism is down?

Bill Dunkelberg | NFIB chief economist






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


DTC Sight Estimate at $650M

The Diamond Trading Company (DTC) June sight had an estimated value of $650 million with the De Beers unit reportedly raising prices on certain items. Sources at the sight indicated that prices of fine, better-quality rough rose approximately 12%, while cheaper, Indian goods remained relatively stable.

The sight, which concluded on Wednesday, was the fifth of 10 sights hosted by the company during the year. DTC sales have increased by 14% year on year to approximately $3 billion in the first half of 2011, according to Rapaport estimates.

Sightholders were also focused on completing their contract proposal questionnaires (CPQ), which are due on July 7, as part of the application process to gain a three-year contract for DTC supply beginning April 1, 2012






Diamdel Sells 251 of 256 Lots

Diamdel sold 251 of 256 lots of rough at its most recent auction, which ended June 9. Goods offered spanned near-gem, smalls, grainers, 2-carat plus, and large categories. By value, 54% of the lots were sold to non-sightholders with sightholders winning the balance. Demand was concentrated in large, 2-carat plus, grainers and smalls, whereas ''near-gem'' products experienced deterioration in demand.





ALROSA Sales to Increase 30%

ALROSA expects its diamond sales to reach $1.25 billion in the second quarter of 2011, which would represent a 30% year on year increase. This would also be the first time ALROSA's quarterly sales have exceeded $1 billion, according to Rapaport calculations. ALROSA sold $1.84 billion worth of rough and polished diamonds during the first five months of 2011. At current market prices, ALROSA forecasted that full year sales should increase by approximately 18% to $4.7 billion in 2011.









RETAIL & WHOLESALE


Small Businesses Feel Economic Pinch

Small business owner optimism is holding at "recession level," according to an index tracked by the National Federation of Independent Business (NFIB). With the index settling at 90.9 points for May, the index found that small business owners were growing more pessimistic as the so-called "recovery" progressed. Other findings from the monthly index included deteriorating capital spending and inventory investment plans; price increases passed on to customers; and 36% reporting weaker sales versus only 23% reporting sales growth. More than 70% of small business owners contended that the U.S. economy remains very weak.





U.S. Department Store Sales -3%

Department store sales fell 3.1% year on year in May to $14.6 billion on an unadjusted basis, according to U.S. government figures. On an adjusted basis, U.S. department store sales slipped 0.5% to $15.4 billion. Retail trade sales, however, rose 8% and total retail and food services sales, excluding motor vehicles, rose 8.3% to $331.6 billion.





Arjav Auction Nets $12.5M

Arjav Diamonds sold $12.5 million worth of rough at its first online auction. The auction focused exclusively on stones larger than 5 carats with 3,664.27 carats selling for an average price of $3,411.32 per carat. The two largest stones sold were the 74.70 carat "Star of Surat" and the 61 carat "Star of Gujarat."





Christie's NY Sale Nears $12M

Christie’s New York held its "Important Jewels" sale on June 14 for a total of $11,727,625 and it was 94% sold by lot. The top lot was a 46.51-carat, E, VVS2 oval-cut diamond, which sold for $4,226,500 or $91,000 per carat. A 10.01-carat, D, IF, pear-shaped diamond fetched $1,314,500, or $131,000 per carat.





Rapaport Weekly Broadcast

WATCH NOW: DTC sight correspondent Avi Krawitz shares observations from London; Unity Marketing contends that luxury brands must actively pursue the consumer wallet with value-add and unique products to win market share.





Tara Opens New Concept Store

Tara Jewellers opened its new format store in Indore, India. The store boasts 1,650 square feet of retail space, uses modern lighting to showcase jewelry, and is decorated in shades of purple to give a warm, inviting feeling, according to the retailer. The new format was also designed for the Bhopal and Jabalpur locations. The store displays jewelry in a vertical fashion on walls for easy viewing and shopping, and it has an open workshop area that enables clients to watch the craftsmen at work.









GENERAL


Brown to Leave De Beers

Stuart Brown, De Beers Group chief financial officer and acting joint chief executive, will leave on July 31. Brown served De Beers for nearly 20 years. Brown said that he leaves with "fond memories" and that it was the right time to move on and find a new challenge.





Jovella Dates: July 5, 6

Israel will host the eight annual Jovella show, July 5–6, in Tel Aviv, which will feature novel designs and original materials at "Designer Boulevard." This year’s exhibition will feature 20 original Israeli designers, in addition, 50 students of jewelry design at Shenkar College will be exhibiting.





Rohit Mehta to Head SGCCI

Rohit Mehta, former president of the Surat Diamond Association (SDA), has been appointed president of the Southern Gujarat Chamber of Commerce and Industry (SGCCI). The group is an umbrella organization which aims to further business development in the state of Gujarat, India.





Authorities Arrest Eight Suspects in Florida

Eight suspects involved in a high-end burglary ring that stole an estimated $6 million worth of merchandise from jewelry stores and pawn shops in Florida, North Carolina, Tennessee, Virginia, West Virginia and Connecticut, were recently arrested in Florida, accordign to the Florida Department of Law Enforcement (FDLE) in Jacksonville. The arrest marked a turning point in an almost two-year multi-agency investigation into the organized burglary ring based out of Miami-Dade County, Florida.









STATS


Russia

1Q2011 000s Cts. %Chng.
Rough exports 9,234 -26%
Rough imports 45
$Mil.
Export value $792.6 4%
Import value $12.8






Australia

1Q2011 000s Cts. %Chng.
Rough production 1,700 -35%
Rough exports 2,500 -35%
$Mil
Rough exports $93 -26%






Hong Kong

1Q2011 $Mil. %Chng.
Polished imports $3,960 35%
Polished exports $3,230 49%
Net imports $729 -6%

Rough imports $289 14%
Rough exports $297 40%
Net imports ($8)

Net diamond account $737 0%










MINING


Vaaldiam's Loss Widens

Vaaldiam Mining reported a 256% year on year jump in its first quarter net loss at $7.6 million, or 11-cents per share. The junior mining company closed the quarter on March 31, with a cash position of $5.6 million and working capital of $3.7 million.

Just before the quarter closed, Vaaldiam entered into an arrangement with the joint venture partners of its Brauna diamond project in Brazil to increase ownership interest from 20% to 51% by paying $6.5 million over 15 months to the existing partners and financing the project development cost to production.

Vaaldiam produced 4,355 carats from its Duas Barras Mine in first quarter along with 221 troy ounces of gold. But these figures were below grade and with escalating fuel costs and other operating costs, production was suspended until such time that rising diamond prices may improve the mine's economics, according to the company.





Rockwell Plans Recapitalization

Rockwell Diamonds entered into an agreement with Daboll Consultants Ltd., an affiliate of the Steinmetz Diamond Group, to borrow $2 million under a convertible bridge loan as part of a refinancing plan. The funding would enable Rockwell to continue with two key projects and enhance its production profile.

The loan is an integral step in the planned recapitalization of Rockwell, which seeks to raise up to $35 million in new financing in coming months. Rockwell's board has approved a 15:1 share consolidation, or reverse-split, which is likely to be effected before the shareholders meeting.





Mozambique Preps for Diamond Mining

As many as 27 companies are looking for diamonds in Mozambique, according to the Minister of Mineral Resources, Esperanca Bias. So far, diamonds have not been extracted. Bias said that any diamonds offered for sale in central Mozambique have almost certainly been smuggled across the border from Zimbabwe. Mozambique is speeding up preparations to join the Kimberley Process (KP).





Firestone Lists on Botswana Exchange

Firestone Diamonds listed on the Botswana Stock Exchange's Venture Capital Board (VCB) this week. The junior diamond miner already trades on the London Stock Exchange.





Renard Valuation Jumps

In its ongoing feasibility study for the Renard diamond project, Stornoway Diamond Corporation determined that the "base case modeled" diamond price for Renard 2 and 3 rose 56% from the valuation taken in September 2009 to $182 per carat as of May 2011. The base model for Renard 4 rose 49% to $112 per carat, according to the May diamond valuation report conducted for Stornoway by WWW International Diamond Consultants. Stornoway listed “high” diamond price models of $236, $205 and $185 per carat for Renard 2, 3 and 4 kimberlite pipes respectively.





Next Steps for Gahcho Kue

De Beers Canada and Mountain Province Diamonds approved the Gahcho Kue feasibility study with some revisions and clarifications. The joint venture partners approved the necessary development work for the Gahcho Kue project and called for the project's operator to prepare a plan and budget for the development of the mine. Once the project plan and budget are approved it will serve as the basis for a final investment decision, which is expected to be made once the partners have clarity on the progress of the environmental review currently underway.









ECONWATCH


For the week ending June 16

There were only 14 industry stocks showing gains this week with the best performance coming from DGSE Companies (up 16%), JCPenney (up 11%), and Gemfields (up 13%). There were too many losers to name, however, Birks & Mayors (down 11%), LJ International (down 15%), Zale (down 20%), Theo Fennell (down 17%), and Rockwell Diamonds (down 30%) all registered double digit declines. Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe. June 16 June 9 Chng.
$1 = Euro 0.707 0.690 0.017
$1 = Rupee 44.89 44.72 0.2
$1 = Israel Shekel 3.46 3.39 0.07
$1 = Rand 6.87 6.77 0.10
$1 = Canadian Dollar 0.98 0.98 0.00

Precious Metals
Gold $1,528.90 $1,540.20 -$11.30
Platinum $1,755.00 $1,833.00 -$78.00

Stock Indexes Chng.
BSE 17,985.88 18,268.54 -282.66 -1.5%
Dow Jones 11,961.37 12,124.36 -162.99 -1.3%
FTSE 5,698.81 5,844.69 -145.88 -2.5%
Hang Seng 21,953.11 22,420.37 -467.26 -2.1%
S&P 500 1,267.64 1,289.00 -21.36 -1.7%
Yahoo! Jewelry 1,034.00 1,061.40 -27.40 -2.6%
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Industry Retail EconWatch India Mining Stats General




Rapaport Weekly Market Comment June 24, 2011


Steady traffic as Hong Kong show opens with high expectations for Far East polished demand. Rough trading strong with high teen premiums for Indian DTC goods as BHP Billiton prices rise about 10%-15%. India’s May polished exports +24% to $2.2b, rough imports +44% to $1.4b. Israel’s May polished exports +82% to $1.1b. Botswana’s April diamond exports -19% to $208m. Tiffany & Co. opens regional base in Dubai. Civil society walks out of ineffectual KP intercessional meeting while Zimbabwe vows to export Marange diamonds with African and Asian support. TRADE ALERT: MARANGE GOODS EXPECTED TO BE RELEASED SHORTLY. RESPONSIBLE BUYERS SHOULD REQUIRE SUPPLIER GUARANTEE THAT THEY ARE NOT SELLING THESE DIAMONDS TO THEM.


RapNet Data: June 23

Diamonds 706,147
Value $5,281,413,298
Carats 796,207
Average Discount -24.18%





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RAPAPORT ANNOUNCEMENTS


June
21-26
Tue-Sun
Rapaport Buy Now Sale
Hong Kong

email: auctions@rapaport.com




Jun-Jul
27-5
Mon-Tue

Rapaport Single Stone Auction
New York & Israel

email: auctions@rapaport.com

July
4-12
Mon-Tue

Rapaport Melee Auction
Mumbai

email: auctions@rapaport.com





QUOTE OF THE WEEK:
The MDC believes diamonds and other mineral resources belong to the people of Zimbabwe and must be exploited for national benefit in a transparent manner. The current system under which the military is heavily involved in the mining and marketing of diamond with revenues undeclared to the national fiscus is clearly unacceptable.

Movement for Democratic Change (MDC) | Zimbabwe's Coalition Government Party






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


KP Meeting Ends in Stalemate Again

Civil society members of the Kimberley Process (KP), including Global Witness and Partnership Africa Canada (PAC), walked out of the intercessional meeting this week saying that negotiations with Zimbabwe were harming the scheme’s credibility. Ultimately, the meeting ended without a resolution on Zimbabwe's Marange exports. KP chair Matthiew Yamba is expected now to present a draft proposal and seek written consensus from members from their home states.

Zimbabwe's second ruling political party, the Movement for Democratic Change (MDC), expressed its view to the KP, saying that exports from the Marange would help boost the country's struggling economy. But, the MDC also chided Zimbabwe’s military for its "current" involvement in the diamond fields and demanded financial transparency on rough exports.

Meanwhile, the Zimbabwe Blood Diamonds Campaign, which contended that smuggling and violence continues in the diamond fields, advocated for a ban on rough or else Marange diamonds would contaminate the industry.

The Rapaport Group urges responsible buyers to require supplier guarantees that they are not buying Marange goods.







WGC Drafts 'Conflict-Free' Standards

The World Gold Council believes that gold must be a source of economic and social development wherever it is found, and that any possibility for gold to fund conflict must be eradicated. Therefore, the group established a consultation process on conflict-free and "chain of custody" gold standards and is currently seeking feedback on the resulting draft measures. The World Gold Council is accepting comments through September 1.









RETAIL & WHOLESALE


Rapaport Broadcast

Watch Now: U.S. jewelry inflation rises in May as higher gold, platinum, silver and diamond prices add pressure to retail markup. Online video viewing habits continue to evolve and present an opportunity for brands to advertise; while a Rice University study urges a cautious approach to retailers using “daily deal” websites to increase brand awareness and sales.





Jewelry as Investments of Passion

Jewelry, gems and watches accounted for 22% of all "investments of passion" for high-net-worth-individuals (HNWIs) in 2010, according to the Capgemini and Merrill Lynch 2011 World Wealth Report. The jewelry category tied with art, for second place, behind "luxury collectibles," which was the largest segment under "investments of passion." In the Middle East, HNWIs exhibited the highest share of jewelry purchases with 29% buying investment pieces. Overall, the world's population of HNWIs expanded 8.3% year on year in 2010 and HNWIs' wealth grew 9.7% to $42.7 trillion, surpassing the 2007 record of $40.7 trillion.





Tiger Global Invest in CaratLane

The Tiger Global hedge fund invested $6 million in Caratlane Trading Pvt. Ltd., which operates jewelry website CaratLane.com in India. CaratLane announced the funding on its Twitter page. Tiger Global has been investing in many key online properties including LinkedIn, Flipkart.com, Babyoye.com, and others.

“The e-commerce industry is set to boom in India, and we were among the few to have foreseen the market and started CaratLane in 2008. This inflow of funds will be used to strengthen our backend operations and augment our customer base through enhanced reach, owing to a refreshed approach to our marketing and brand-building effort,” said Mithun Sacheti, chief executive of CaratLane.





Aspire Buys Interest in Eternite

Aspire International Inc. acquired an equity interest in diamond jewelry wholesaler Eternite International Company Limited. The investment is an initial phase of a larger collaboration project designed to use Aspire's ecommerce platform to introduce Eternite's jewelry product lines in China.





New Trademarks for De Beers, Kama Schachter

The U.S. Patent & Trademark Office (USPTO) awarded the trademark "Everlon Diamond Knot Collection" to De Beers and approved the trademark "Kama Schachter" for Kama Schachter Jewelry (Pvt.) Ltd. of Mumbai on June 14.

De Beers filed for the trademark June 17, 2009, which consists of the word "EVERLON" enclosed within stylized interlocking elements above the words "DIAMOND KNOT COLLECTION." Kama Schachter filed for the trademark that carries its name on April 21, 2009, which features the words "KAMA SCHACHTER" below a horizontal line surmounted by a stylized crown.







Tiffany Opens Corp. Office in Dubai

Tiffany & Co. opened its regional headquarters in Dubai to oversee business development in the Middle East, Eastern and Central Europe, Africa, Turkey and India. Tiffany expansion plans will cater to the increased demand for luxury goods in emerging markets. Dubai is the fourth international representative office for the retailer outside of the U.S. Over the next five years Tiffany & Co. plans to more than double its network of boutiques in emerging markets.

In the U.S., Tiffany & Co. appointed Patrick F. McGuiness, 45, to the level of senior vice president and chief financial officer. In a second management change, James N. Fernandez, 55, has been appointed to the newly-created role of chief operating officer for Tiffany & Co.





Damas Opens New Store Concept in Fujairah

Damas International Limited inaugurated a newly renovated Damas store in Fujairah. The reopening comes only weeks after Damas opened a new concept store in Mercato Mall, Dubai. Raj Sahai, retail director for UAE Damas, stated, this location will attract locals and tourists alike, "so we are delighted to open this new and improved store to offer the best retail experience possible."





Zale to Rejoin Russell 3000

Zale expects to rejoin the U.S. broad-market Russell 3000&reg; Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 24. Annual reconstitution of Russell’s U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May, based upon total market capitalization. Shares in Zale have risen more than 200% year on year and market capitalization is roughly $174 million.









GENERAL


Avidar Joins Pres. Council of CIBJO

Eli Avidar, managing director of the Israel Diamond Institute Group of Companies (IDI), has joined the president's council of CIBJO, the World Jewellery Confederation. CIBJO is responsible for making strategic decisions and consists of officers and five other member representatives, each of whom is appointed by the president, Dr. Gaetano Cavalieri. Avidar has been IDI's managing director since 2007 and has pioneered the Israeli diamond industry's marketing thrust into China and India.





De Beers Publishes Sustainability Report

De Beers highlighted its sustainability efforts in 2010, which included supplying $1.12 billion in rough diamonds to sightholders in southern Africa for manufacturing there – a 93% increase from 2009. De Beers also maintained a 50% reused/recycled water footprint for operations in the region even though production rose 34%. The company also provided anti–retroviral treatment to 1,652 employees and their partners in Botswana, Namibia and South Africa, and disbursed $29.8 million in community social investment, including contractually mandated initiatives and in-kind contributions.









STATS


Israel

May 2011 - figures rounded $Mil. %Chng.
Polished exports $1,100 82%
Polished imports N/A
Net exports N/A

Rough imports N/A
Rough exports $427 72%
Net imports N/A

Net diamond account $376 82%






India

May 2011 - figures rounded $Mil %Chng.
Polished exports $2,220 24%
Polished imports $1,550 54%
Net exports $668 -15%

Rough imports $1,410 44%
Rough exports $155 99%
Net imports $1,260 39%

Net diamond account ($590)






Botswana

April 2011 - figures rounded $Mil %Chng. YTD $Mil. %Chng.
Diamond exports $208 -19% $1,280 26%










MINING


ALROSA 1Q Profits +42%

ALROSA finalized its first quarter results, under International Financial Reporting Standards, and reported that revenue fell 5% year on year to $1 billion (RUB 29.6 billion). Net debt was reduced 13% to $3.1 billion (RUB 86.89 billion) and short term debt fell 86% to $449 million (RUB 12.3 billion). Net profit rose 42% to $431 million (RUB 12.04 billion). ALROSA produced 10 million carats of rough during the first quarter, an increase of 16% year on year, but sold only 9.1 million carats, representing a 28% drop. The price per carat sold rose 34% to $102.





Gem to Drill for Water in CKGR

Gem Diamonds will drill four water boreholes in the Central Kalahari Game Reserve (CKGR) of Botswana for local residents. Gem Diamonds will provide the technical and financial assistance on the program, which will benefit the local ecosystem as it will provide multiple sources of water at the various CKGR settlements to prevent the concentration of people around a single water source. This borehole-drilling program follows discussions and consultations with CKGR communities and will be conducted in two phases. The first phase will begin with the drilling of a borehole at Mothemelo in early July and this will be followed by boreholes in Metsimanong, Molapo and Gope.





Diadem to Hold a Private Placement

Diadem Resources Ltd. expects to consummate a private placement of up to four million units at 30-cents per unit to raise $1.2 million in equity financing. Diadem expects this financing will close prior to the end of July, 2011, and anticipates that approximately 80% of the gross proceeds will be used to fund exploration on Parry Peninsula and 20 percent will be used as general working capital.









ECONWATCH


For the week ending June 23

Biggest movers this week were Birks & Mayors (+11%), Man Sang (-14%), Saks (+10%), Classic Diamond (-12%), Suashish (-15%), Titan had a 10:1 stock split, Gem Diamonds (-10%). Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe. June 23 June 16 Chng.
$1 = Euro 0.701 0.707 -0.006
$1 = Rupee 45.03 44.89 0.1
$1 = Israel Shekel 3.44 3.46 -0.02
$1 = Rand 6.83 6.87 -0.04
$1 = Canadian Dollar 0.98 0.98 0.00

Precious Metals
Gold $1,521.80 $1,528.90 -$7.10
Platinum $1,698.00 $1,755.00 -$57.00

Stock Indexes Chng.
BSE 17,727.49 17,985.88 -258.39 -1.4%
Dow Jones 12,050.00 11,961.37 88.63 0.7%
FTSE 5,674.38 5,698.81 -24.43 -0.4%
Hang Seng 21,759.14 21,953.11 -193.97 -0.9%
S&P 500 1,283.50 1,267.64 15.86 1.3%
Yahoo! Jewelry 1,066.67 1,034.00 32.67 3.2%
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RAPAPORT NEWS SERVICE | July 8, 2011 www.rapaport.com | news@rapaport.com


Industry Retail EconWatch India Mining General




Rapaport Weekly Market Comment July 8, 2011


Polished diamond prices surge in 1H 2011 with RapNet Diamond Index for 1ct up 34.3% and RapNet Composite Index up 32.5%. Rapaport estimates rough prices rose about 32% in 1H. Trading slows slightly as Far East buyers avoid large inventory purchases in summer months. Chinese bank ICBC signs MOU with AWDC to finance Antwerp diamond trade. Israel’s 2Q polished exports +22% to $1.9b, rough imports +49% to $1.3b. Japan’s May polished imports +11% to $52.5m. Yair Sahar elected Israel Diamond Exchange president. TRADE ALERT: Dubai releases $157m worth of KP certified Marange rough and South Africa also dealing in Marange goods. Responsible buyers should require written supplier guarantee that they are not selling them Marange diamonds.


RapNet Data: July 7

Diamonds 723,984
Value $5,116,150,195
Carats 797,460
Average Discount -24.53%





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RAPAPORT ANNOUNCEMENTS


July
4-12
Mon-Tue

Rapaport Melee Auction
Mumbai

email: auctions@rapaport.com


August
15-25
Mon-Thu

Rapaport Melee Auction
New York & Belgium

email: auctions@rapaport.com




QUOTE OF THE WEEK:
Diamonds are a special investment product and have a distinct function other investment products cannot match. The demand for diamonds to celebrate marriages in itself is substantial, not to mention the high demand from the wealthy investor class.

Jiang Jianqing | Chairman of ICBC






Careers@Rapaport



The Rapaport Group is growing rapidly. If you wish to work with the best and brightest, join us. We have great opportunities for trading managers, gemologists, sales assistants, and entry level positions for our offices in New York, Antwerp, Mumbai, Dubai, and Shanghai. To get on the fast track, email your resume to careers@rapaport.com.









INDUSTRY


Polished Prices Rise in June

Certified polished diamond prices rose in June as U.S. buyers fought to keep pace with Far East competitors. While some price resistance is apparent, the outlook for the second half of the year remains strong. The RapNet&reg; Diamond Index (RNDI)™ for 1.00ct. diamonds rose by 7.4% to 109.17, while 0.50ct. increased by 13% and 3.00ct. grew by 8.2%. The RapNet Composite Index increased by 8.4% to 179.96 during the month. Rough prices too continue to rise and Rapaport estimates that average rough prices have increased by about 30% to 35% in the first half of the year. Read the full report, which covers industry trends for the first half of the year.





Dubai Releases Marange Rough

The Kimberley Process's United Arab Emirates (UAE) office released 14 packets of Marange diamonds for export as expected. The diamonds have been held in Dubai since November 2010 shortly after arriving from Zimbabwe. The Rapaport group warns responsible buyers to require written supplier guarantee that they are not selling them Marange diamonds.





ICBC Enters Antwerp

ICBC, a major bank in China, committed to support the diamond markets of Antwerp and will finance trading. An agreement signed with the Antwerp World Diamond Centre (AWDC), enables pre-financing of diamond transactions via ICBC and will enable local players to expand into China. Members of the Antwerp diamond industry will embark on a 10-day road show through China in late October under the auspices of the AWDC, during which they will meet with Chinese jewelers from five different cities.





Rapaport Weekly Broadcast

Watch Now: The Harry Oppenheimer Diamond Museum in Israel is hosting the collection from the Diamond Trading Company's Shining Light Awards 2010-2012. This new exhibition is open through September and titled ''All about Diamonds.'' Featured designers hail from South Africa, Namibia and Botswana, and incorporated 25,000 diamonds weighing more than 630 carats into their winning designs.









RETAIL & WHOLESALE


Discounts Drive June Retail Growth

The following same-store sales increases were recorded for June and analysts concluded that heavy discounting drove sales, especially for apparel: Macy's 6.7%, Saks 11.9%, JCPenney 2%, Kohl's 7.5%, Neiman Marcus 12.5%, Nordstrom 7.9%, Costco 8%, BJ's 3.5%, Dillards 6%, Nordstrom 7.9%.

MasterCard Advisors SpendingPulse, a macroeconomic report tracking U.S. retail and services sales, found that retail sales from the luxury and restaurant categories performed well in June, while overall retail sales growth was supported by higher prices at the gasoline pump and at grocery stores. Specialty apparel experienced sales gains, but the electronics and appliances, furniture and furnishings and department stores sectors remained in negative territory. SpendingPulse noted that ecommerce sales rose 15.2% year on year. The SpendingPulse Luxury Index, excluding jewelry, rose 8.2%.

The International Council of Shopping Centers (ICSC) reported that U.S. chain-store sales overall rose 6.9% year on year in June, and that the figure was given a 1.4% boost just from rising fuel costs. Michael P. Niemira, chief economist and director of research for ICSC, said, ''Helping to drive sales was stronger employment growth, better weather and summer clearance.'' ICSC anticipates a gain of 4.5% to 5.5% for the month of July.






PPR Buys Majority Stake in Sowind

Luxury group PPR became majority shareholder in Swiss watchmaking firm The Sowind Group with a 50.1% stake. PPR's president Francois-Henri Pinault becomes Sowind's chairman alongside Monica Mailander Macaluso, who becomes vice-chairman. The deal strengthens PPR's position in the high-end watchmaking segment. Sowind is the holding company that includes the brands Girard-Perregaux and JeanRichard and also Sowind Manufacture.





Wealthiest U.S. Shoppers Prefer Amazon

Amazon.com was the favorite online retailer for U.S. households with incomes of $250,000 or more according to Unity Marketing. The clear online retail leader continues to evolve with the times to maintain loyalty and attracted about 45% of all ultra-affluent shoppers, while 14% of wealthy consumers shopped through auction site eBay.com, just more than 10% frequented Groupon.com, and about 8% visited their local Craigslist.com portal. Wealthy ''fashionistas'' were also attracted to flash sale websites, such as Shopittome.com, Gilt.com, Hautelook.com, BeyondtheRack.com and Amazon's new entry into the category, MyHabit.com, while Buy.com was a favorite website for the wealthy, tech-oriented bargain shoppers.





Gitanjali Introduces New Logo

Bollywood actress Katrina Kaif unveiled the Gitanjali Group's new corporate identity and logo, which was created by JWT. Gitanjali restyled its color palette and created branding identities for Gitanjali Jewels and Gitanjali Lifestyle.





De Beers Jewellers Opens in Kazakhstan

De Beers Diamond Jewellers opened a new store in Kazakhstan, on Bogenbai Batyr, 125 in Almaty. The Almaty store will be operated by Premier Metro Group, whose core business is the retail and distribution of luxury goods including jewelry, watches, cars, high-end mobile phones as well as fine wines.

In other news from the retailer, Jennie Farmer was appointed its communications director. Farmer held a variety of brand marketing and communications roles at Procter & Gamble before joining Forevermark as global head of brand marketing in September 2008.





Lazare Kaplan Settles with Underwriters

Lazare Kaplan entered into settlement agreement with its U.S. and U.K. underwriters in order to resolve long-standing material uncertainties, which have prevented the company from filing its periodic financial reports. The agreements enable Lazare Kaplan to receive $32 million, in addition to $28 million previously paid, by the U.S. underwriters, to settle its claims, dismiss all pending litigation and execute mutual releases. From as far back as August 2009, Lazare Kaplan has been unable to finalize its financial statements or file its Form 10-K for the past two fiscal years due to claim litigation.





Birks & Mayors FY Sales +6%, Narrows Loss

Birks & Mayors reported a revenue increase of 6.2 percent year on year to $270.9 million, while cost of sales increase by only 2.8 percent to $154.9 million during its fiscal year 2011. The retailer was able to narrow its loss to $7.7 million for the period that ended March 26, from $19.5 million one year earlier. A stronger currency in Canada boosted the sales figure by $9.6 million.









GENERAL


NWT Gifts Diamonds to Royal Couple

The government of Northwest Territories (NWT) commemorated the visit of Their Royal Highnesses The Duke and Duchess of Cambridge with diamonds. Prince William was given a set of diamond pave cufflinks modeled on the government's official polar bear logo. His wife Catherine was given a diamond pave brooch in the shape of a polar bear. The diamonds came from Diavik and the jewelry was designed by Harry Winston Inc.





IDI Hong Kong Appoints Gordon-Keret

The Israel Diamond Institute (IDI) appointed Michal Gordon-Keret as managing director for its office in Hong Kong, replacing Orly Yaffe. Gordon-Keret has had a long career in management and administration.





IDE Elects Sahar

Yair Sahar, the chief executive of Sahar Atid, was elected president of the Israel Diamond Exchange (IDE) and will replace Avi Paz who served six years in the position. Sahar said that the diamond exchange is one of the important pillars of Israel's economy and that he would ensure the country remains a global center for the diamond trade by strengthening local diamond manufacturing.





Police Seek Suspects in Surat

Police arrested five people in Surat in connection with the alleged theft of an estimated $1.1 million from Nidhi Diamond. The prime suspect, a 27-year-old computer operator, worked for Nidhi Diamond and under police interrogation confessed to planning the heist with seven others. Police recovered 27 packets of diamonds worth $606,109, but they are still searching for 23 packets as well as three suspects tied into the crime.









STATS


Israel

Figures rounded 2Q11 $Mil. %Chng. YTD $Mil. %Chng.
Polished exports $1,890 22% $4,030 34%
Polished imports $1,580 51% $2,810 50%
Net exports $312 -38% $1,210 8%

Rough imports $1,330 49% $2,470 37%
Rough exports $1,100 39% $2,270 40%
Net imports $228 100% $208 10%

Net diamond account $84 -79% $1,000 8%









Japan

Figures rounded May 2011 $Mil. %Chng. YTD $Mil. %Chng.
Polished imports $53 11% $297 8%
Gold jewelry $61 27% $272 16%
Platinum jewelry $40 24% $190 19%










MINING


ALROSA Increases Sales Outlook, Funding

ALROSA increased the sales outlook for rough and polished diamonds to $4.7 billion for 2011. Based upon these projections, the mining company increased its prospecting budget by $128 million, will invest $251 million in construction of underground mines, and added $215 million to all planned investments. The consolidated debt of the group will also be reduced to $2.73 billion, from a 2010 debt load of $3.13 billion. This week, ALROSA held its first online auction for rough diamonds and sold approximately $11 million in goods. The company plans to hold regular online auctions beginning later this year.





Firestone Tender Nets $2M

Firestone Diamonds raised $2 million from a tender of 12,212 carats from its Liqhobong mine in Lesotho for an average price of $123 per carat, and 2,036 carats of stones from the BK11 mine in Botswana for an average $235 per carat. Prices for small diamonds and cape yellows and browns continue to be very strong. An April tender yielded $1.4 million from 7,111 carats.





Diamonds North Raises $750K

Diamonds North Resources closed a non-brokered private placement with gross proceeds of $750,000 for 4,687,500 flow-through common shares. Diamonds North will use the funds to explore the Esker Gold Property and evaluate a new generation of kimberlite targets on its Amaruk diamond property.





Shear Acquires New Claims

Shear Diamonds Ltd. acquired 34 newly staked claims totaling 77,250 acres contiguous with the "Carat Property" surrounding its Jericho diamond mine. This new land package provides Shear Diamonds with blanket mineral rights covering existing and newly interpreted priority indicator dispersion trains. In the company's most recent update from Jericho, a total of five holes were completed into the property's kimberlite complex in order to help resolve the kimberlite contacts as well as aid in the understanding of geological domains as Shear revises its geological model for the mine.





TanzaniteOne Preps for Name Change

TanzaniteOne Limited proposed changing its name to Richland Resources Ltd. Shareholders will vote on the change August 1 during the company's general meeting in Bermuda. Revenue in 2010 rose 27% year on year to $15.9 million and net profit rose to $700,000 from a loss of $3.1 million. First quarter 2011 production was up 8% to 609,737 carats and sales were ahead 48% to nearly $4 million.









ECONWATCH


For the week ending July 7

Read the extended stock report for major retailer and miner stocks from India, the U.S., and Europe.

July 7 June 30 Chng.
$1 = Euro 0.697 0.690 0.007
$1 = Rupee 44.27 44.60 -0.3
$1 = Israel Shekel 3.39 3.40 -0.01
$1 = Rand 6.67 6.76 -0.09
$1 = Canadian Dollar 0.96 0.97 -0.01

Precious Metals
Gold $1,531.80 $1,499.20 $32.60
Platinum $1,741.00 $1,722.00 $19.00

Stock Indexes Chng.
BSE 19,078.30 18,845.87 232.43 1.2%
Dow Jones 12,719.49 12,414.34 305.15 2.5%
FTSE 6,054.55 5,945.71 108.84 1.8%
Hang Seng 22,530.18 22,398.10 132.08 0.6%
S&P 500 1,353.22 1,320.64 32.58 2.5%
Yahoo! Jewelry 1,177.41 1,146.58 30.83 2.7%
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