Sběratel.com

Diskusní fórum o sběratelství

Sběratel.com » Minerály » Týždenný prehľad zaujímavostí vo svete diamantov .

Vykupminci.cz
Numisargo

Týždenný prehľad zaujímavostí vo svete diamantov .

Moderátoři: Koniáš, smith.

Nové téma Další příspěvek

Stránka: « < 1 2 3 4 5 6 7 8 ... > »

Autor Příspěvek
Registrovaný uživatel
Rapaport TradeWire - Friday, July 10, 2009
Caution: Polished prices softening with some discounts exceeding 40% below list. Rough price bubble developing as Antwerp reports further 10% price increase at BHP tenders. Recent rough price increases appear unsustainable and may be fueled by too much Indian bank credit. News: Birks & Mayors 4Q sales -23% to $49.2 mil., net loss of $14.4 mil. vs. profit of $3.3 mil. Petra Diamonds FY09 production +454% to 1.1 mil. ct., revenues -10% to $69.1 mil. BRC DiamondCore sells S. Africa assets to KIG Mining for $11 mil. Belarus 1H rough imports -65% to 15,550 ct. Kimberley Process review team reportedly accuses Zimbabwe of human rights abuses. Government says they will demilitarize Marange diamond fields, but few believe them.




ANNOUNCEMENTS:

RAPAPORT TENDER IN NEW YORK

Polished Diamond Tender – By Appointment Only
July 22-28, 2009

Large selection of melee, rounds and fancies, -6.5 to 1ct+,
from promotional to very fine qualities. Excellent opportunity
for diamond and jewelry manufacturers specializing in
inexpensive diamonds.

Contact Myles Schakler at NYTender@diamonds.net
or +1-212-354-9800


------------------------------------------------


RAPAPORT INTERNATIONAL DIAMOND CONFERENCE

Sept. 10, 2009, New York – 8:30 am to 5:00 pm

Conference Topic:
“New Realities - Where do we go from here?”

The conference will be held at in the new
New York Times Center, 242 West 41 St.

Reservations will be strictly limited to first 320 tickets.
$249 until August 15, $349 thereafter if tickets available.
Lunch not included, but we can arrange restaurant reservations.

Reserve Now: idc@diamonds.net, +1-702-893-9400


-------------------------------------------------


Retail Quote:

"We continue to navigate the company through very difficult economic times by carefully managing the level and productivity of our inventory, reducing our operating costs and limiting capital expenditures while continuing to focus our attention on providing our customers with superior service and selection, while working with and supporting our key product brands and maintaining strong client relationships, all with the focus on optimizing cash flow."

Tom Andruskevich
President of Birks & Mayors



World News:

KP Implicates Zim Army, Gov't Commits to Withdraw Troops

A visiting delegation from the Kimberley Process has concluded its weeklong investigation into Zimbabwe's controversial diamond mining trade and found that the country's military and police were major contributors to the illegal activities, human rights abuses and murders that took place in the Marange diamond fields, contrary to statements by government officials. The group recommended that the army be immediately removed from the diamond fields. Despite denying wrongdoing, Zimbabwe has promised to withdraw its soldiers from the diamond fields. They will be withdrawn in phases while security details are worked out. The Kimberley Process delegation also found that Zimbabwe's border controls and the security around diamond mining areas were insufficient.


GJEPC Announces Benefits in India's Union Budget

As a result of its aggressive lobbying of the government, India's Gem and Jewellery Export Promotion Council (GJEPC) stated, various measures for the benefit of the country's jewelry industry were put in place in the newly announced 2009-10 union budget. These include an extension of the 2 percent interest subvention on the rupee export credit until March 31, 2010, the abolition of import duties on branded jewelry and rough coral, and the abolition of the fringe benefit tax. among many others. Customs import duties on gold and silver, excluding gold and silver jewelry, were increased.


Thai Gov't Set to Scrap VAT on Rough Gems

The Thai government is planning to scrap its value added tax (VAT) for jewelers on imports of rough diamonds, gems and raw materials, in order to lower the industry’s tax burden and help make Thailand closer into a world gem and jewelry hub. Korn Chatikavanij, the finance minister, will propose the tax change to the cabinet in July so that it can be implemented immediately. Jewelry exports from Thailand totaled $4.8 billion (THB 165 billion) in the first five months of 2009. The tax reforms are aimed at helping the industry achieve the government's target of $8.8 billion (THB 300 billion) for the year.


Diamond News Broadcast

Ross Simons jewelers is carrying a new line of jewelry from supermodel Christie Brinkley, and the retailer's vice president of marketing discusses how the collection has been received so far. Jovella 2009 may have had fewer exhibitors, but those in attendance remain confident in the future of Israel's jewelry industry.
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=27003



Retail & Wholesale:

Decline Slows at U.S. Retailers in June

U.S. retail sales continued to fall in the five weeks that ended July 5, 2009, though the rate of the decline did appear to slow. The drop in sales was smaller at almost every retailer, compared with May's results. Saks Incorporated's sales fell 4 percent to $230.2 million, and same-store sales also decreased 4 percent. Neiman Marcus' sales declined 19 percent to $323 million, with same-store sales down 21 percent; online sales dropped 10 percent. Sales at Nordstrom fell 6 percent to $686 million, and same-store sales decreased 10 percent. Sales at Macy's declined 9 percent to $2 billion in June, with same-store sales also down 9 percent; online sales rose 8 percent for the month. J.C. Penney Company's June sales fell 7 percent to $1.5 billion and same-store sales dropped 8 percent. JCPenney's fine jewelry division improved from previous months due to a promotional event. Kohl’s Corporation's June sales declined 2 percent to $1.5 billion, with same-store sales down 6 percent. Dillard's sales decreased 16 percent to $497.2 million, and same-store sales fell 14 percent. Sales at BJ’s Wholesale Club, Inc. dropped 5 percent to $1 billion, and same-store sales declined 8 percent, with the jewelry department among the weaker performers. Costco Wholesale Corporation's sales were down 4 percent to $6.9 billion, while same-store sales decreased 6 percent.


U.S. Weekly Chain Store Sales Remain Nearly Flat

Chain store sales across the U.S. for the week that ended July 4, 2009, rose 0.5 percent, according to the latest figures from the International Council of Shopping Centers (ICSC) and Goldman Sachs. While ICSC expects sales for the month of June overall to have dropped 4.5 percent, the group noted that the first half of the month was weaker than the final two weeks.


Hong Kong Jewelry Sales Weigh Heavily on May Retail

Hong Kong’s retail sales fell 6.2 percent to $2.8 billion (HKD 21.6 billion) in May, with the jewelry sector ranking among the worst performers. Total retail sales by volume fell 6.4 percent for the month. Sales of jewelry, watches, clocks and valuable gifts declined 10.9 percent. Sales were likely affected by the decline in tourism in May, but local consumer sentiment has continued to hold up.


Birks & Mayors FY Sales -14%, Reports Loss of $61M

Fiscal-year sales at Birks & Mayors fell 14 percent to $270.9 million, and same-store sales also fell 14 percent. The retailer saw a net loss of $61 million, compared with profits of $10.4 million one year ago. Net sales during fiscal 2009 included an $11.7 million charge associated with the strengthening of the U.S. dollar. At the end of the fiscal year, Birks & Mayors' inventory totaled $155.6 million, compared with $181.9 million one year earlier. Bank indebtedness decreased $34.4 million as a result of the company replacing a portion of its line of credit with long-term notes.


Finlay Misses June Interest Payment on Senior Notes

As predicted in its last quarterly report, Finlay Enterprises failed to make a semiannual interest payment of $1.7 million that was due on June 1, 2009, to the holders of Finlay Jewelry’s senior notes, a payment which it does not intend to make. Those holding at least 25 percent of the senior notes, which are due June 1, 2012, may therefore demand immediate payment, but this had not happened as of July 2. Finlay Jewelry has also been continuously in default of a covenant, under its new revolving credit agreement issued in February, that requires sales targets and maintenance of cash disbursements. In an unrelated announcement, Finlay reported that Rohit M. Desai has resigned as a member of the board, effective immediately.



WHO IS NEWS

Bird Leaves Charles & Colvard

Charles & Colvard and Bird Capital Group have agreed to end their five-month-old relationship. Charles & Colvard's business model must be modified to navigate the economic environment as a low-cost operation, the groups wrote in a joint statement. Richard Bird, Bird Capital's founder, also resigned as a director and officer of Charles & Colvard, effective July 2, 2009. He agreed, however, to consult for Charles & Colvard until August 31. The board of directors is now seeking a new chief executive officer (CEO).


Gordon, Larkin Leave Zale

Cindy Gordon, senior vice president, controller and chief accounting officer for Zale, and Steve Larkin, Zale's executive vice president and chief marketing and e-commerce officer, have both left the company. Gordon resigned effective June 30, and was replaced by Jim Sullivan. Larkin resigned on June 4, and signed a separation agreement on June 25 that provided him with severance pay of $651,693 in exchange for signing noncompete and nonsolicitation provisions. He will also receive accrued but unpaid base salary, vacation pay or bonuses, if any, for a period of 18 months. Zale did not yet name a replacement.


Wal-Mart's Mortensen to Head Fine Jewelry for JCPenney

J.C. Penney Company appointed Pam Mortensen as senior vice president and general merchandise manager of its fine jewelry division, effective July 27, 2009. Mortensen will report to Jeff Allison, executive vice president and general merchandise manager of home and custom decorating. Mortensen was most recently with Wal-Mart Stores, where she served as vice president and divisional merchandise manager of the fine jewelry and watch division.


Bangkok and Idar-Oberstein Bourses Vote in New Directors

The diamond bourses in Bangkok, Thailand, and Idar-Oberstein, both affiliated with the World Federation of Diamond Bourses (WFDB), have held elections. At the Bangkok Diamonds and Precious Stones Exchange (BDPSE), Boonyong Assarasakorn was reelected to the position of president. Somchai Phornchindarak will serve as vice president and Pichet Romhuttirerk will continue to serve as secretary general. Meanwhile, the Diamant-und Edelsteinbörse Idar-Oberstein E.V. reelected Jochen Müller to serve a second term as president. The three new vice presidents are Manfred Giloy, Christian Klein and Bernd Willi Ripp.


David Peters Elected to DCA Board

David Peters was elected as a director to the Diamond Council of America (DCA) Board during the council's annual meeting in Las Vegas in early June. Peters is director of member services for Jewelers of America, where he is responsible for developing partnerships for products and educational services to advance the benefits of membership. He also conducts seminars and educational programs at major industry events in the U.S.



GENERAL:

Belarus 1H Rough Imports -65%

Rough imports to Belarus fell 65 percent to 15,550 carats during the first half of 2009. The dollar value of these imports dropped 68 percent to $4.3 million. During the second quarter, imports dropped 80 percent to 4,050 carats, or 63 percent by value to $2.1 million. Belarus imported rough diamonds from Russia, Belgium and Israel during the period.


Liberian Truth Commission: Ban Sirleaf from Office

In its final report, Liberia's Truth and Reconciliation Commission (TRC), the panel investigating the country's successive 1989-2003 civil wars, included President Ellen Johnson Sirleaf's name on a list of people that it accused of leading and financially supporting the warring factions. The TRC therefore recommended that she, like the others on the list, should be banned from holding public office for 30 years. Sirleaf did not respond to the report's recommendations. Jackson Doe, the transport minister and the elder brother of former president Samuel Doe, was also on the list.


Taylor's Lawyers List 256 Potential Witnesses

Charles Taylor, Liberia's former President, will take the stand in his own defense against charges of war crimes and crime against humanity on July 14, a day after his lawyers present their opening statement. Brenda Hollis, lawyer for the prosecution, said at a hearing Monday that Taylor's lawyers have lined up an "excessive" list of 256 potential witnesses, which, if all of them are called, could make the trial take up to four more years. Taylor's lawyers countered that they do not necessarily expect to call every witness, pointing out that the prosecution called fewer than half of the approximately 200 witnesses that it had listed.


Responsible Jewellery Council Reaches 130 Members

The Responsible Jewellery Council (RJC) announced on July 5 that its membership has now reached 130 diamond and gold jewelry companies and trade associations. Fifty-two new members have joined RJC in the first six months of 2009, including Fred Meyer Jewelers, the Gemological Institute of America (GIA), Venus Jewel, Accurist Watches Limited and the mining company Eurocantera. The biggest proportion of RJC's membership is now made up of small and medium-sized companies such as independent retailers and single-location diamond cutting operations


Jewelry Store Owner Killed by Robbers

Two men entered Jewelry for Less on Dr. Martin Luther King Drive in Fairfield, Alabama, at around 5:10 p.m. on July 2 and broke a jewelry case. When Lee Buong, the 54-year-old owner, came out from the rear of the store, he was shot dead. Buong's wife was in the store during the shooting. The robbers fled toward Bessemer in a black Nissan Maxima. It is not known whether anything was taken.


Kay Jewelers Launches Gold Exchange

Signet Group's Kay Jewelers launched the Kay Gold Exchange. Customers who send in items made from 10-karat, 14-karat, 18-karat, 22-karat or 24-karat gold, or their European equivalents, will receive cash in return. Customers can return the payment check within 14 days of issuance and Kay will return the items at no cost. Every package received is videotaped while it is being opened, enabling customers to log in and view their valuables being unpacked and weighed. The program uses purity, the weight of the metal and the market price of each type of metal to determine payment.


GIA Sheds Light on Fluorescence

The Gemological Institute of America (GIA) will now include additional information explaining and describing ultraviolet (UV) fluorescence and its properties in every GIA Diamond Grading Report and Diamond Dossier that carries a diamond fluorescence description of 'medium' or stronger. A separate four-color insert addresses the most frequently asked questions about fluorescence, explains its properties in easy-to-understand terms and includes comparison images of diamonds in both natural and UV light to illustrate varying intensities of fluorescence.



DIAMOND MINING:

Diamond Project Acquisitions -73% in 2008-09

The value of all acquisitions in diamond projects in 2008-2009 fell 73 percent to $210.5 million. A total of 19.7 million carats in resources changed hands during the year that ended May 31, 2009, a decline of 91 percent compared with 2007-2008. There were 14 diamond transactions valued at more than $1 million during the year, down from 26 during the previous year. Canada accounted for 67 percent of total acquisitions, due primarily to Kinross’s $104.4 million purchase of 9 percent of the Diavik mine from Harry Winston. Acquisitions in South Africa fell 98 percent to $5.8 million, and in Australia, acquisitions declined 94 percent to $15.4 million.


ALROSA sells Gokhran $384M in Rough, Appts Marketing VP

Russia’s state precious metals and gemstones repository, the Gokhran, has bought approximately $383.8 million (RUB 12 billion) worth of rough diamonds from ALROSA so far in 2009. This amount includes the $118 million (RUB 3.69 billion) of rough that Gokhran agreed to buy annually from ALROSA through 2010. Separately, ALROSA announced the appointment of Vladlen Dmitrievich Nogovitsyn as its vice president of marketing. Nogovitsyn previously worked as managing director of ALROSA Hong Kong.


Old Mutual Challenges Xstrata to Raise Offer for Anglo

Insurance group Old Mutual, which owns 3 percent of Anglo American, has challenged Xstrata to raise its offer for the mining giant, saying that Anglo's board should only look at a bid if the offer is increased to reflect its valuable assets. A representative of Old Mutual stated that if Xstrata's offered price adequately compensated for the significant dilution of Anglo American's unique exposure to the structurally attractive platinum, coking coal, iron ore and diamond markets, Anglo's board would almost certainly consider it.


Namdeb Resumes Mining Operations

Namdeb’s is ending its three-month production interruption, which took effect during the second week of April 2009; mining activities will restart beginning in mid-July. Namdeb employees remained on full pay during the hiatus, and the company carried out maintenance work on its major assets to ensure that the mines run at an optimal level as demand begins to recover. The return to production will be preceded by a two-week reorientation period, when employees will be retrained in safety, health and environmental standards.


Mountain Province, De Beers Renew Gahcho Kué JV

Mountain Province Diamonds has renewed its joint venture agreement with De Beers in the Gahcho Kué diamond project in Canada's Northwest Territories (NWT). Under the amended terms of the agreement, Mountain Province maintains a 49 percent stake in the project, and will repay De Beers $50.6 million (CAD 59 million) to settle the project's costs through the end of 2008. As soon as possible, the two companies will conduct a feasibility study on Gahcho Kué, of which Mountain Province will cover the full cost.


Namakwa Diamonds Increases Mining Production in 3Q

Namakwa Diamonds has started to ramp up its mining operations again. The mining company's production rose to 4,200 carats in the third fiscal quarter that ended May 31, 2009, up 114 percent from the previous quarter, after it significantly reduced output and shifted focus to its beneficiation business during the economic crisis. Namakwa's report said that it expects fourth-quarter production to increase 39 percent from the previous quarter, to 5,850 carats, which will still be about 52 percent below production levels in the first quarter.


Petra FY09 Production Over 1M Cts., Revenues -10%

Petra Diamonds total production in fiscal 2009, which ended on June 30, rose 454 percent to 1,108,815 carats, as the purchase of the Cullinan mine helped the company achieve its stated goal. Revenues fell 10 percent to $69.1 million. Petra sold 1,011,834 carats of its total production for an average of $93 per carat, compared with 230,172 carats for an average $336 per carat the previous year.


No Ruling Yet On DiamonEx Mine Liquidation

The Botswana High Court has not yet made a ruling on the liquidation of DiamonEx's Lerala diamond mine after a recent hearing. DiamonEx has not made any profit since it started operating, due to disappointing results from its first sales. The company had to seek permission to be put under judicial management by the High Court for one year, until February 2010. Currently, the mine is not operating. DiamonEx hopes that the mine will recover when the diamond prices improve and make back the $41.1 million (BWP 280 million) investment used to set it up.


BRC DiamondCore Sells S. Africa Assets for $11M

BRC DiamondCore has agreed to sell its South Africa-based alluvial diamond projects — the Silverstreams, De Kalk, Muishoek, Sanddrift and Uitdraal projects, and their associated processing plant, mining fleet and equipment — to Frankfurt-based KIG Mining for a total of $10.7 million. KIG plans to resume operations at Silverstreams using staff previously employed there. BRC's ability to complete the sale, however, may be adversely affected if it is unsuccessful in its appeal against a recent decision by the Northern Cape High Court, which granted a former advisor to BRC the right to liquidate DiamondCore Resources, BRC's subsidiary that holds the company's South African projects.


Cameroon Wants Diamond Mining to Start in 2010 Not 2012
The government of Cameroon is consulting experts and officials about moving the start of commercial diamond mining at Mobilong in the east of the country up by two years, to 2010 from an original plan of 2012. Mobilong's diamond resource is estimated at more than 750 million carats,which a South Korean-Cameroonian mining firm, Cameroon and Korean Mining, or C&K Mining, is seeking to exploit. A committee is being created to evaluate the results of C&K's feasibility studies, after which the head of state must accord an exploitation license to the company.



Econ Watch:



July.9 July.2 Chng.
$1 = Euro 0.716 0.711 0.005
$1 = Rupee 48.8 48.0 0.7
$1 = Israel Shekel 3.97 3.88 0.09
$1 = Rand 8.13 7.87 0.26
$1 = Canadian Dollar 1.16 1.15 0.01

Precious Metals
Gold $912.90 $927.50 -$14.60
Platinum $1,106.00 $1,187.00 -$81.00

Stock Indexes Chng.
BSE 13,757.46 14,658.49 -901.03 -6.15%
Dow Jones Avg. 8,183.17 8,280.74 -97.57 -1.18%
FTSE 4,158.66 4,234.27 -75.61 -1.79%
Hang Seng 17,790.59 18,178.05 -387.46 -2.13%
S & P 500 882.68 896.42 -13.74 -1.53%
Yahoo! Jewelry Index 680.14 672.25 7.89 1.17%

USA
Birks & Mayors $0.57 $0.56 $0.01 1.79%
Blue Nile $37.69 $39.89 -$2.20 -5.52%
Charles & Colvard $0.46 $0.52 -$0.06 -11.62%
DGSE Companies, Inc. $1.02 $0.99 $0.03 3.03%
Fuqi International $16.98 $19.96 -$2.98 -14.93%
JCPenney $26.58 $27.28 -$0.70 -2.57%
Kohl's $43.02 $41.25 $1.77 4.29%
Lazare Kaplan $2.50 $2.48 $0.02 0.81%
LJ International $1.79 $1.76 $0.03 1.70%
Macy's $10.63 $11.00 -$0.37 -3.36%
Man Sang $1.81 $2.25 -$0.44 -19.56%
Movado Group $9.35 $9.90 -$0.55 -5.56%
Nordstrom $19.72 $18.63 $1.09 5.85%
Saks $4.29 $4.84 -$0.55 -11.36%
Signet $20.06 $20.45 -$0.39 -1.91%
Sotheby's $11.46 $12.99 -$1.53 -11.78%
Tiffany $24.94 $24.29 $0.65 2.68%
Wal-Mart $48.08 $47.79 $0.29 0.61%
Zale $3.76 $3.76 $0.00 0.00%

EUROPE
Bulgari €3.57 €3.80 -€0.23 -6.05%
Bijou Brigitte €96.74 €92.49 €4.25 4.60%
Esa €2.57 €2.47 €0.10 4.05%
Golay-Buchel CHF 1,750.00 CHF 1,750.00 CHF 0.00 0.00%
LVMH €53.51 €54.61 -€1.10 -2.01%
Pinault P-R SA €55.39 €58.00 -€2.61 -4.50%
Richemont SA CHF 22.42 CHF 22.46 -CHF 0.04 -0.18%
Swatch Group CHF 163.10 CHF 171.50 -CHF 8.40 -4.90%
Theo Fennell (pence) 46.00 47.00 -1.00 -2.13%

INDIA (rupee)
Classic Diamond 13.75 16.75 -3.00 -17.91%
Gitanjali Gems 95.30 108.45 -13.15 -12.13%
Rajesh Exports 36.75 43.95 -7.20 -16.38%
Ren. Jewellery 42.55 41.35 1.20 2.90%
Su-Raj Diamonds 33.75 37.45 -3.70 -9.88%
Titan 1,184.75 1,180.20 4.55 0.39%
Zodiac JRD 14.75 16.80 -2.05 -12.20%
Suashish Diamonds 160.00 183.95 -23.95 -13.02%

NEW ZEALAND
Michael Hill NZD 0.64 NZD 0.62 NZD 0.02 3.23%

MINING STOCKS
(pence unless noted)
USA
Anglo American $13.40 $14.10 -$0.70 -4.96%
CANADA
Archangel CAD 0.06 CAD 0.06 CAD 0.00 0.00%
Harry Winston CAD 6.50 CAD 6.78 -CAD 0.28 -4.13%
Mountain Province CAD 1.57 CAD 1.70 -CAD 0.13 -7.65%
Peregrine Diamonds CAD 0.74 CAD 0.75 -CAD 0.01 -1.33%
Rockwell Diamonds CAD 0.04 CAD 0.05 -CAD 0.01 -11.11%
Shore Gold CAD 0.43 CAD 0.45 -CAD 0.03 -5.56%
Stornoway Diamond CAD 0.12 CAD 0.11 CAD 0.01 9.09%
True North Gems CAD 0.13 CAD 0.14 -CAD 0.01 -3.70%
UK (pence)
African Diamonds 21.3 24.4 -3.1 -12.66%
BHP Billiton 1,315.4 1,361.6 -46.3 -3.40%
Firestone Diamonds 23.0 31.3 -8.3 -26.40%
Gem Diamonds 141.0 152.8 -11.8 -7.69%
Gemfields 6.5 6.8 -0.3 -3.70%
Mano River 3.8 3.8 0.0 0.00%
Mwana Africa 4.5 5.0 -0.4 -8.87%
Namakwa Diamonds 32.0 38.8 -6.8 -17.42%
Petra Diamonds 40.5 39.5 1.0 2.53%
Rio Tinto plc 1,967.0 2,046.0 -79.0 -3.86%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire - Friday, July 17, 2009
News: Widening gap between buyers and sellers over prices slowing polished trading. Rough prices stabilizing after recent increases. Letseng 1H sales -18% to $74 mil., production +6% to 47,165 cts. Rio Tinto 2Q production -72% to 1.28 mil. cts. Rockwell 1Q sales -45% to $3.5 mil., net loss of $3.7 mil., vs. loss of $714K. Shrenuj & Co. buys Botswana factory to become DTC Botswana sightholder. U.S. May polished imports -46% to $1.25 bil., polished exports -48% to $660 mil. Belgium’s June polished exports -35% to $755.5 mil., rough imports -38% to $757.4 mil. India’s June polished imports -13% to $1.08 bil., rough imports -39% to $769 mil. S. Africa May diamond production -62%. U.S. June jewelry CPI +0.8%. ALROSA replaces Sergei Vybornov with Fyodor Andreyev as company president.


ANNOUNCEMENTS:

RAPAPORT TENDER IN NEW YORK

Polished Diamond Tender – By Appointment Only
July 22-28, 2009

Large selection of melee, rounds and fancies, -6.5 to 1ct+,
from promotional to very fine qualities. Excellent opportunity
for diamond and jewelry manufacturers specializing in
inexpensive diamonds.

Contact Myles Schakler at NYTender@diamonds.net
or +1-212-354-9800


------------------------------------------------


RAPAPORT INTERNATIONAL DIAMOND CONFERENCE

Sept. 10, 2009, New York – 8:30 am to 5:00 pm

Conference Topic:
“New Realities - Where do we go from here?”

The conference will be held at in the new
New York Times Center, 242 West 41 St.

Reservations will be strictly limited to first 320 tickets.
$249 until August 15, $349 thereafter if tickets available.
Lunch not included, but we can arrange restaurant reservations.

Reserve Now: idc@diamonds.net, +1-702-893-9400


-------------------------------------------------


Retail Quote:

"People still want wedding rings, but now they'll choose silver rather than gold and they'll choose a smaller diamond. I've cut out the middle man. I like to do my own gemstone carving, but it might take me hours to do one, and I can buy them cheaply from China. I've always been more competitive, simply because I produce everything myself. And I think that's my key to survival."

Norm Coker
Gems by Norm, Portland, Oregon



World News:

U.S. Retail Sales Take a Dive in June

Department store sales in the U.S. during the month of June fell 9.4 percent to $15.4 billion. Retail trade sales were down 10 percent from one year ago. Meanwhile, U.S. chain store sales fell 0.7 percent for the week that ended July 11, 2009, according to the latest data from the International Council of Shopping Centers (ICSC) and Goldman Sachs. ICSC reported that the first full week of July followed poor retail performance in June, when same-store sales at the nation's chains dropped 5.1 percent.


U.S. Jewelry Consumer Price Index +1% in June

The consumer price index (CPI) for jewelry in the U.S. rose 0.8 percent year-on-year to 154.93 points for the month of June. The index increased less than one point from its value in May. While the month-to-month change was slight, the index has now topped 150 points for 17 consecutive months.


China 1H09 GDP +7%

According to preliminary estimates, China's gross domestic product (GDP) during the first half of 2009 rose 7.1 percent to $2.1 trillion after a strong second quarter. In quarterly terms, GDP rose 6.1 percent in the first quarter and 7.9 percent in the second. Domestic consumer spending rose 15 percent to $826 billion.


ALROSA Replaces Vybornov with Andreev

Sergei Vybornov was dismissed as president of ALROSA this week, and the board appointed Fyodor Andreev to the post. Vybornov's departure follows a comprehensive check of ALROSA's operations by Russia's Audit Chamber, which identified numerous violations in company operations that have been forwarded to the General Prosecutor's office. Andreev is vice president of Russian Railways.


Zim Vows New Crackdown on Diamond Miners

Zimbabwe is preparing to relaunch a military crackdown on illegal diamond miners in the eastern part of the country, risking an international ban on its precious stones. Operation Hakudzokwi, meaning "You don't return," is meant to restore order at the Chiadzwa diamond fields, and has come under fire by human rights groups. Illegal diamond dealers and panners were ordered to stop activities immediately or face the consequences, according to the government.


Diamond News Broadcast

U.S. polished diamond imports and exports during the past year clearly show depressed market conditions leading up to the JCK Vegas show. The U.S. imported a record amount, by value, of polished goods in May 2008, but this was followed by record polished exports in June. Polished imports for May 2009 were almost half what they were one year ago. The more disturbing news, however, was that for the first five months of this year, polished imports have been consistently down by about half from trading levels in 2008. Statistics for U.S. net polished imports show even greater declines from one year ago.
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=27115



DIAMOND STATS:

Belgium June Polished Exports
June YTD
$Mil. Chng. $Mil. Chng.
Polished exports $755 -35% $4,046 -38%
Polished imports $757 -38% $3,851 -40%
Net exports ($2) 97% $195 85%

Rough imports $658 -38% $2,646 -55%
Rough exports $763 -35% $3,026 -52%
Net imports ($105) 16% ($379) 16%

Net Diamond Acct. $103 64% $575 3%


India June Polished Exports
June YTD
$Mil. Chng. $Mil. Chng.
Polished exports $1,100 -13% $5,505 -30%
Polished imports $641 -5% $3,121 -15%
Net exports $436 -22% $2,384 -44%

Rough imports $770 -39% $2,555 -55%
Rough exports $57 -40% $320 -25%
Net imports $713 -39% $2,235 -58%

Net Diamond Acct. ($276) 54% $148


U.S. May Polished Imports
May YTD
$Mil. Chng. $Mil. Chng.
Polished imports $1,250 -46% $4,395 -50%
Polished exports $660 -48% $3,244 -45%
Net imports $590 -43% $1,151 -59%

Rough imports $24 -73% $84 -76%
Rough exports $14 -70% $58 -69%
Net imports $10 -76% $26 -84%

Net Diamond Acct. $600 -45% $1,177 -61%


S. Africa Diamond production -62% in May

South Africa’s diamond production fell 62.4 percent in May compared with one year ago. Compared with April, diamond production fell 1 percent in May. For the three months that ended May 31, South Africa’s diamond output rose 1.9 percent from the previous quarter.



RETAIL & WHOLESALE:

May Sales of Watches, Jewelry -17% in Singapore

Singapore's retail sales for May 2009 decreased by 10.3 percent from one year ago. The decline was mainly due to lower sales of motor vehicles and petrol. Sales of watches and jewelry declined by 16.7 percent from May 2008.


Shrenuj Botswana Appointed as DTC Botswana Sightholder

Diamond Trading Company (DTC) Botswana appointed Shrenuj Botswana (Pty) Limited as a DTC Botswana sightholder. The Shrenuj Botswana factory will manufacture diamonds to benefit the citizens and the economy of Botswana. Shrenuj Botswana is part of the Shrenuj India Group, which has been a sightholder of the DTC since 1982.


Gitanjali USA Acquires 51% Stake in Diamlink

Gitanjali acquired a 51 percent stake in New York-based diamond jewelry maker Diamlink. Gitanjali did not disclose financial details of the acquisition.


JCPenney Celebrates Store Opening in New York City

J. C. Penney Company will celebrate the grand opening of its new 153,000-square foot store in Manhattan, at 33rd Street and 6th Avenue, on July 31, 2009. The two-level store is accessible from street level as well as directly from two of Manhattan’s busiest public transportation terminals — the 34th Street-Herald Square subway station and the 33rd Street PATH train station.


Cartier Robbery in Cannes May Have Topped $20M

Thieves dressed in Hawaiian shirts and armed with guns pulled off a jewerly heist at Cartier in Cannes, France. The raid lasted less than one minute. Estimates of the stolen goods run as high as $21 million. Police suspect the men were members of the "Pink Panther" gang.


Birks & Mayors to Close Store in St. Catharines

Birks & Mayors will close its Birks location at the Niagara Peninsula Centre in St. Catharines, Ontario, Canada, effective July 31, 2009. The closure will affect five employees. The jeweler has 10 other locations in the province of Ontario — nine locations in the greater Toronto area as well as one in Hamilton.


Cartier Hears from Next Generation of Shopper

Cartier evaluated its business through the eyes of its next generation of consumer during a unversity business- and design-school program. Students suggested that Cartier create a separate bridal instore "experience" by devoting a specific area to wedding-related jewelry and event planning. Another suggestion was to build a watch bar and to hold parties for new watch owners in an effort to build loyalty. The flagship store needed updating, students said, for example by creating a Zen-like atmosphere or by adding flat-screen TVs.


Court Awards Mervis Diamond $4M in Lease Case

Mervis Diamond Importers was awarded a total of $4.3 million, which includes legal fees, in a judgment against Congressional Hotel Corporation (CHC) for breach of contract. CHC failed to deliver on terms of the lease it signed for Mervis Diamond's expansion plans in 2005. CHC was also held liable for Mervis Diamonds' lost profits, damages and prejudgment interest.


Bernadine Design Launches Lattice Diamond

Bernadine Design Co. of Burlingame, California, launched its Lattice Collection, inspired by ancient Chinese window architecture. Bernadine Wang, a jewelry designer and photographer,
fashioned the collection after studying window designs in a small village near Shanghai. The collection features white, champagne, brown and black diamonds set in necklace pendants, earrings and rings made with 18-karat yellow, rose or white gold. Price points for the Lattice Collection range from $1,000 for 18-karat gold peony earrings to $6,800 for an 18-karat gold purity pendant lined with black and white diamonds.


The Knot Finds Most Brides Take Part in Ring Selection

The Knot surveyed 9,000 recently married couples and found that 67 percent of the brides were involved in the selection and/or purchase of the engagement ring — an increase of 5 percent from a few years ago. The Knot also found that when the bride was involved in the process, the couple spent an average of three months shopping for the ring and viewed approximately 28 rings before making the purchase. The Knot reported that the average amount spent by all couples on engagement rings was $5,800, and that 20 percent ended up spending more than they had originally planned. Princess cuts have continued to gain in popularity, but rounds have remained most popular.


Gary Flyer Retires, Company Partners with KGK

Gary Flyer announced his retirement as president of Martin Flyer. Joshua Kaufman, Gary's son-in-law, will take on the role. Additionally, Martin Flyer entered into a strategic alliance with KGK Group, giving the jewelry manufacturer access to additional diamond supplies.



GENERAL:

De Beers Works to Reduce Costs

De Beers requested a temporary exemption from paying royalties for Namdeb to help control costs. Production at Namdeb is resuming, but diamond demand, while having recovered slightly, is still very weak. De Beers also won a temporary covenant waiver on its GBP 1.8 billion in bank debt and has drafted advisers to help with a major restructuring. De Beers will pay an upfront fee and a higher interest rate on the existing debt. De Beers is expecting to post a profit in 2009 despite the weak demand in the market for rough diamonds. Production decreased 91 percent in the first quarter of fiscal 2009, but because the company has reduced operating and capital costs by $1.5 billion, the bottom line should remain positive. De Beers expects revenues from rough sales to fall 50 percent to about $3 billion in 2009. To date, the Diamond Trading Company (DTC) posted sales of approximately $1.1 billion from five of the 10 sights scheduled for 2009.


Anglo American Picks New Chairman

Anglo American appointed John Parker as chairman amid the British-South African group's fight to stay independent after recently snubbing Swiss rival Xstrata's merger bid. Parker becomes chairman on August 1, replacing Mark Moody-Stuart, who is retiring after seven years in the job.


Gov't to Auction $7M in Jewels Confiscated from Marcos

The government of the Philippines will hold a public auction for two of the three Imelda Marcos jewelry collections, with an estimated value of some $7 million. The Hawaii and Roumeliotes collections will be up for bid. They are currently kept at the Bangko Sentral ng Pilipinas. The Roumeliotes collection, the biggest and most expensive of the three collections, was confiscated by the Philippine Bureau of Customs on March 1, 1986.


State Diamond Trader to Review its Model

South Africa is reviewing the model of its State Diamond Trader (SDT). Ernest Blom, the chairman of the Diamond Council of South Africa, said the current model failed because the SDT had tried to buy and sell cheaper diamonds that were not viable for the local diamond industry. “The high-value diamonds are the ones that can be processed locally,” he added. Futhi Zikalala, the SDT's chief executive, however, said that the SDT was looking into changing the way it funded its business, but not the diamonds it bought. “Our current funding model was not geared to all the developmental needs of the SDT. A change in business model would require an amendment to the law.”


Gunmen Threaten to Kill Jeweler, Escape with Diamonds

Two armed men and a woman blocked a security door with a six-pack of soda while they robbed a Whittier, California, jewelry store of diamond rings and bracelets. No one was injured during the late morning robbery at Oasis Jewelry, located about 20 miles east of downtown Los Angeles, but one salesman told police that the robbers threatened to kill him. The suspects were described as Latinos. One of the men was bald, sported a mustache and wore a black windbreaker. The second man wore a hat. The woman may have been wearing a brown wig and was dressed in jeans and a pinkish shirt.


WFDB to Host Interbourse Pavilion at Iberjoya Show

The World Federation of Diamond Bourses will launch its first interbourse pavilion, which will function as a diamond trading floor, at the Iberjoya Trade Show in Madrid. Iberjoya runs from September 9 to 13 at the Feria de Madrid. Participants in the pavilion must be members of diamond exchanges affiliated with the Federation.



DIAMOND MINING:

Cash-Strapped Namdeb in Sales Deal with India

Namdeb sold rough to Diamonds India Limited, a consortium of 58 leading diamond and jewelry manufacturers and exporters in India. Erkki Nghimtina, Nambiai's mines and energy minister, told The Namibian that the direct deal was government's way of assisting Namdeb with its cash-flow problems. "The aim was to solve the cash problem...and to assist Namdeb to get the cash which De Beers could not give it," he said.


Rio Tinto 2Q Diamond Production -72%

Rio Tinto diamond production fell 72 percent to 1.281 million carats in the second quarter of 2009. Production at the company’s fully-owned flagship Argyle mine decreased 86 percent to 408,000 carats, after Rio Tinto reduced production at the mine in March due to the decline in diamond demand. Rio Tinto’s 60 percent production share of the Diavik mine dropped 44 percent to 853,000 carats. The company also owns 78 percent of the Murowa mine in Zimbabwe, where its share of production sank 62 percent to 20,000 carats.
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire - Friday, July 24, 2009
News: De Beers raises prices and restricts supply at July sight to estimated $350 mil. Polished market trading remains slow as manufacturers in Israel and Belgium prepare for vacation. BHP Billiton 4Q production +5% to 903,000 cts. Trans Hex July tender generates $16.7 mil. Birks & Mayors 1Q sales -26% to $53.6 mil. Kristall of Smolensk 2008 revenues -28% to $241 mil., net profit -35% to $527,000. China’s June diamond imports +68% to $65.7 mil. Major mining companies create International Diamond Board to steer industry-wide generic marketing. Richard Lennox to head Zale marketing after resigning from De Beers account at JWT.


ANNOUNCEMENTS:

RAPAPORT INTERNATIONAL DIAMOND CONFERENCE

Sept. 10, 2009, New York – 8:30 am to 5:00 pm

Conference Topic:
“New Realities - Where do we go from here?”

The conference will be held at in the new
New York Times Center, 242 West 41 St.

Reservations will be strictly limited to first 320 tickets.
$249 until August 15, $349 thereafter if tickets available.
Lunch not included, but we can arrange restaurant reservations.

Reserve Now: idc@diamonds.net, +1-702-893-9400


-------------------------------------------------


Retail Quote:

"We'd never use a celebrity to advertise. If a brand can't stand on its own two feet, then there is something wrong with it. Our advertising is never a call to action. We are not advertising so we can sell more diamond rings, we are advertising so that when someone decides at some point in the future they want a piece of jewelry, they think of Boodles. We'd never have a sale if something wasn't selling. I'd rather break it up and reuse the components."

Michael Wainwright
Managing director of Boodles Jewellers, U.K.



World News:

New Diamond Org. to Step-Up Marketing Efforts

The diamond industry has a new generic marketing group: The International Diamond Board (IDB). The group promises to create and sustain strong consumer demand for diamonds through effective category marketing. IDB is in the process of recruiting a chief executive. Majors involved in the group include De Beers, Rio Tinto, BHP Billiton, ALROSA and Harry Winston. IDB was initiated at the 2008 St. Petersburg Forum.


Canada, Japan Report Jewelry Sales Declines

Canada's retail sales rose 1.2 percent to $34 billion in May; however, sales for the jewelry category fell 0.7 percent, representing the fourth consecutive monthly decrease. Japan's jewelry sales have slid 19 percent during the first six months of 2009, with overall department store sales falling 11 percent. Japan's six-month sales decline at department stores was a new record since tracking began in 1965.


Rapaport Weekly Broadcast

The Diamond Trading Company (DTC) July sight was estimated at $350 million, 18 percent lower than June and less than half the estimate of one year ago. Some sightholders believed that supplies fell short due to production cuts. De Beers updated the industry on its production schedule, as more mining operations resume following extended care and maintenance schedules. View the broadcast.



Diamond Stats:

China’s June Diamond Imports +68%

China’s diamond imports rose 68 percent to $65.7 million in June. Imports by volume increased 63 percent to 70,100 carats.



Retail & Wholesale:

Sales Remain Weak But Retailers Did Report Some Good News

Jewelry retail sales in the U.S. are in a holding pattern, remaining at double-digit declines from one year ago, but there were still positive global developments this week in terms of new launches and retail expansion plans.

Considering the U.S. environment, it was no surprise that Birks & Mayors' sales fell 26 percent to $54 million in the first fiscal quarter and same-store sales in the U.S. also dropped 26 percent. Jewelry sales at Hermes also decreased in its second fiscal quarter; however, sales of leather goods drove revenue higher by 12 percent to $635 million. Sales at Links of London rose 36 percent in 2008 to $102 million, and it is targeting growth of 28 percent this year. Don't count out the Fortunoffs and Mayrocks — they purchased all of their former intellectual property at auction for about $1.8 million and plan to relaunch the Fortunoff brand...eventually...and after a period of heavy-duty market research. A jury in Kentucky sided with jeweler Jim Jackson, deciding he didn't have to refund $800,000 for a diamond necklace that plaintiffs valued at only $500,000. U.S. consumer demand for vintage bridal jewelry has increased this year at estate jeweler Kazanjian & Fogarty, particularly for gold and platinum wedding bands, diamond eternity bands and vintage diamond rings.

Titan will open its largest Tanishq brand diamond store in Chennai, India, and aims to increase the share of its sales from diamond jewelry from 30 to 40 percent. Beards Jewellers in Cheltenham, U.K., is spending $820,000 on a store facelift to add a "touch of Bond Street" glamour. Damas unveiled its Ananyas diamond collection, which includes Tanmania sets, necklaces, pendants and earrings in 18-karat gold. Yael Designs will premiere its Mosaic diamond collection in August featuring black and white diamonds set in white gold. Abbeycrest secured funding to help manage its $3 million debt, and now plans to move upmarket in the U.K. with new branded collections Gorgeous Gold, Fluid and Osare. We've all heard of Cash for Gold USA; well, now they have launched the Cash for Diamonds website to buy consumers' diamonds. They plan to "beat" compeititors' prices by 10 percent.


Kristall, Leviev Report Results; Sri Lanka Approves Deal for Nakshatra

Wholesale trade reports from Russia reveal that Kristall experienced a sales drop of 28 percent in 2008 to $241 million, and net profit dropped 35 percent to $527,000. Leviev's Uralalmaz sales rose 29 percent to $30 million and profits more than doubled to $6.4 million. Leviev's Ruiz Diamonds sales fell 80 percent to $61 million and profit fell 94 percent to $675,580. In Sri Lanka, the Board of Investment approved plans by Nakshatra Overseas to set up a diamond trading facility in a $1.6 million deal. Nakshatra will import rough and cut-and-polished diamonds and precious stones, and re-export them to consuming markets.



Who Is News:

Industry Players on the Move

Industry movers and shakers in the news this week include Richard Lennox, Paul Deasy, Sheldon Kwiat and Stephen Webster. Lennox first made headlines with his departure from JWT on Tuesday, but 24 hours later, Zale announced he had been hired as its new chief marketing officer. Deasy will guest-host "The Gem Insider" show on ShopNBC, where he plans to demystify gemstones in an educational and entertaining format, on July 28 and again on August 18. Kwiat was elected vice chair of YAI/National Institute for People with Disabilities. Webster was commissioned to create a one-of-a-kind diamond mosquito ring for auction to raise funds for Malaria No More U.K.



General:

Rare Diamonds from Argyle, Annenberg Go Up For Auction

Forty-three pink diamonds from the Argyle mine will hit the road as part of a worldwide tender tour. Argyle Diamonds are usually bought by jewelry connoisseurs, private collectors and celebrities. Meanwhile, the Annenberg Diamond is scheduled to be auctioned during Christie's Jewels: The New York Sale on October 21, 2009. The square emerald-cut diamond is described as a 32.01-carat, D color, flawess stone, mounted as a ring and flanked by two pear-shaped diamonds of 1.5 carats and 1.61 carats. The ring, part of the collection of Leonore Annenberg, was designed by David Webb. Christie's estimated its value between $3 million and $5 million.


UK Assay Offices Begin Palladium Hallmark Program

The four U.K. Assay Offices now mark palladium with a legally recognized hallmark. The recognized fineness standards for palladium will be 500 parts per thousand, 950 parts per thousand and 999 parts per thousand. Hallmarking of palladium will become a legal requirement at the beginning of 2010 for items that weigh more than one gram, but until that time it is a voluntary measure in the U.K.


Trip to Africa Proves Memorable for Kardashian, Bush, Crockett

Earlier this month, actress and model Kim Kardashian, professional football player Reggie Bush and former football star Ray Crockett traveled to South Africa and Botswana on behalf of Russell Simmons' Diamond Empowerment Fund™ (D.E.F.). The trip was orchestrated to raise awareness of D.E.F. as well as to educate the celebrities about the group's empowering mission. Simmons founded D.E.F. in December 2007 to raise funds to support education initiatives that help economically disadvantaged people in African nations where diamonds are a natural resource. The celebrities and their family members visited the CIDA City Campus, which is supported by D.E.F., and the Maharishi Institute, and met with students from the African Leadership Academy. They saw firsthand how these D.E.F.-sponsored programs give children the chance to further their education and gain employment once their schooling us completed. The group also visited orphanages for HIV-positive infants.


Two Magazines Celebrate Milestones

Gems & Gemology will celebrate the journal's 75th anniversary with its summer 2009 issue. The Gemological Institute of America (GIA) described the cover story of this issue as a chronicle of the publication's key contributors, landmark articles and gemological milestones through the years.

American Gem Society’s (AGS) Spectra Magazine is going completely digital beginning with the July issue. Spectra’s online presence will be tested with the first few issues, to ensure that AGS members find the new format helpful and resourceful. Spectra began in 1935.


Kerala Jewelry Trade Show KGJS 2009 Runs Nov. 21-23

The Kerala business-to-business (B2B) jewelry trade show, KGJS 2009, will be held from November 21 through 23, 2009, at Le Meridian in Cochin.


GJEPC Introduces Two Initiatives to Promote Trade

The Gem & Jewellery Export Promotion Council (GJEPC) introduced two new programs — the Indian Diamond & Colour Stone Show (IDCS) and the India Diamond Jewellery Promotion (IDJP) — to promote trade in the domestic sector and strengthen India's share of the international marketplace. IDJP begins on the first day of the Navratri festival, September 19, 2009, and lasts through February 14, 2010, and targets 1.5 million rich consumers. The IDCS show takes place August 4 and 5 at the Renaissance Hotel in Mumbai.



Mining:

Full-Year Production at BHP -4%, Namdeb +3%

BHP Billiton's fiscal fourth quarter production rose 5 percent to 903,000 carats, but for the full year, production fell 4 percent to 3.2 million carats. Meanwhile, Namdeb's production for 2008 rose 2.5 percent to 2.1 million carats. Profits for Namdeb rose 221 percent to $61 million due to strong prices, but that trend has been reversed this year. Namdeb's sales rose 24 percent to $736 million and sales volume fell 12 percent to 1.8 million carats. The average price per carat rose 41 percent.


Two Tenders Net $17M+ in July

Trans Hex sold $16.6 million worth of rough diamonds in July at an average of $973 per carat. The sale helped push Trans Hex's cash resources up 43 percent since March, to $37.4 million. West African Diamonds (WAD) sold 433 carats of rough from its Bomboko mine in Guinea for $50,270 in Antwerp.


Pala's Stake in Rockwell Drops to 9%

Pala Investments Holdings sold another round of Rockwell Diamond shares, representing approximately 3.8 percent of the total number of common shares of Rockwell currently issued and outstanding. This is the fourth such sale since late June. Pala's total ownership of securities in Rockwell now stands at 8.7 percent, down from almost 20 percent one month ago.


De Beers Agrees to 9% Pay Increase

De Beers agreed to a 9 percent pay increase for its unionized workers in South Africa. Union members will will see their minimum monthly wage increase to $617 (ZAR 5,000), while miners in a higher category will receive a minimum of $1,146 (ZAR 9,277).


Minerals, Gems Keep Combatants Going

Human rights groups cite evidence that foriegn and military combatants in the diamond-rich eastern Democratic Republic of the Congo (DRC) are raising cash through illegal mining. The combatants are killing and raping civilians in the process, and without strong U.N. or government intervention, armed conflict in the war-torn region will continue.



ECON WATCH:

For week ending July 23, 2009

July.23 July.16 Chng.
$1 = Euro 0.704 0.707 -0.003
$1 = Rupee 48.5 48.6 -0.1
$1 = Israel Shekel 3.87 3.88 -0.01
$1 = Rand 7.66 8.06 -0.40
$1 = Canadian Dollar 1.10 1.12 -0.02

Precious Metals
Gold $949.30 $936.90 $12.40
Platinum $1,175.00 $1,161.00 $14.00

Stock Indexes Chng.
BSE 15,231.04 14,250.25 980.79 6.88%
Dow Jones Avg. 9,068.83 8,711.82 357.01 4.10%
FTSE 4,559.80 4,361.84 197.96 4.54%
Hang Seng 19,817.70 18,361.87 1,455.83 7.93%
S & P 500 976.27 940.74 35.53 3.78%
Yahoo! Jewelry Index 810.72 757.71 53.01 7.00%

USA
Birks & Mayors $0.40 $0.52 -$0.12 -23.08%
Blue Nile $47.62 $44.03 $3.59 8.15%
Charles & Colvard $0.39 $0.39 $0.00 0.00%
DGSE Companies, Inc. $0.91 $0.95 -$0.04 -4.21%
Fuqi International $22.26 $20.38 $1.88 9.22%
JCPenney $29.49 $28.62 $0.87 3.04%
Kohl's $48.93 $46.06 $2.87 6.23%
Lazare Kaplan $2.50 $2.68 -$0.18 -6.72%
LJ International $2.02 $1.85 $0.17 9.19%
Macy's $13.24 $11.79 $1.45 12.30%
Man Sang $2.24 $2.01 $0.23 11.44%
Movado Group $13.66 $11.52 $2.14 18.58%
Nordstrom $25.76 $21.79 $3.97 18.22%
Saks $4.59 $4.38 $0.21 4.79%
Signet $22.10 $21.30 $0.80 3.76%
Sotheby's $13.90 $13.44 $0.46 3.42%
Tiffany $29.56 $27.68 $1.88 6.79%
Wal-Mart $48.78 $48.51 $0.27 0.56%
Zale $4.85 $4.06 $0.79 19.46%

EUROPE
Bulgari €3.92 €3.70 €0.22 5.95%
Bijou Brigitte €101.50 €96.90 €4.60 4.75%
Esa €2.82 €2.85 -€0.03 -1.05%
LVMH €61.85 €57.40 €4.45 7.75%
Pinault P-R SA €65.50 €59.58 €5.92 9.94%
Richemont SA CHF 26.00 CHF 23.92 CHF 2.08 8.70%
Swatch Group CHF 184.70 CHF 170.00 CHF 14.70 8.65%
Theo Fennell (pence) 47.50 46.65 0.85 1.82%

INDIA (rupee)
Classic Diamond 15.20 14.75 0.45 3.05%
Gitanjali Gems 98.95 98.20 0.75 0.76%
Rajesh Exports 40.20 38.20 2.00 5.24%
Ren. Jewellery 40.55 38.95 1.60 4.11%
Su-Raj Diamonds 34.45 33.25 1.20 3.61%
Titan 1,311.30 1,195.70 115.60 9.67%
Zodiac JRD 16.55 14.55 2.00 13.75%
Suashish Diamonds 177.00 175.00 2.00 1.14%

NEW ZEALAND
Michael Hill NZD 0.67 NZD 0.64 NZD 0.03 4.69%

MINING STOCKS
(pence unless noted)
USA
Anglo American $15.89 $14.72 $1.17 7.95%
CANADA
Harry Winston CAD 5.94 CAD 6.50 -CAD 0.56 -8.62%
Mountain Province CAD 1.65 CAD 1.76 -CAD 0.11 -6.25%
Peregrine Diamonds CAD 0.70 CAD 0.76 -CAD 0.06 -7.89%
Rockwell Diamonds CAD 0.04 CAD 0.04 CAD 0.01 14.29%
Shore Gold CAD 0.50 CAD 0.52 -CAD 0.02 -3.85%
Stornoway Diamond CAD 0.13 CAD 0.14 -CAD 0.01 -3.70%
True North Gems CAD 0.13 CAD 0.14 -CAD 0.01 -3.70%
UK (pence)
African Diamonds 31.5 28.8 2.8 9.57%
BHP Billiton 1,562.0 1,435.7 126.3 8.80%
Firestone Diamonds 25.8 26.5 -0.8 -2.83%
Gem Diamonds 184.3 169.3 15.0 8.86%
Gemfields 7.0 6.8 0.2 2.49%
Mano River 6.4 3.8 2.6 70.13%
Mwana Africa 5.7 4.1 1.6 38.05%
Namakwa Diamonds 36.0 30.5 5.5 18.03%
Petra Diamonds 35.8 36.0 -0.3 -0.69%
Rio Tinto plc 2,410.0 2,080.5 329.5 15.84%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire - Friday, July 31, 2009
News: Caution - polished prices softening with some discounts exceeding 40% below list. Rough price bubble has developed as recent rough price increases appear unsustainable and may have been fueled by too much Indian bank credit. Demand for rough slows as Indian cutters resist high prices amid concerns that Russia’s ALROSA plans to sell $2 bil. in 2H 2009. Global markets slow as summer vacations begin. De Beers Group 1H sales -54% to $1.7 bil., net earnings -99% to $3 mil., production -73% to 6.6 mil. cts. LMVH Moet Hennessy Louis Vuitton watch & jewelry sales -17% to $491.3 mil., profits -73% to $28.4 mil. Gitanjali Gems 1Q sales +11% to $279 mil., profits +9% to $9 mil. Christie’s 1H jewelry, jadeite, watch sales -53% to $129.6 mil. China’s 1H polished diamond imports +12.7% to $300 mil. Moti Ganz re-elected chairman of Israel Diamond Institute.


ANNOUNCEMENTS:

RAPAPORT INTERNATIONAL DIAMOND CONFERENCE

Sept. 10, 2009, New York – 8:30 am to 5:00 pm

Conference Topic:
“New Realities - Where do we go from here?”

The conference will be held at the new
New York Times Center, 242 West 41 St.

Reservations will be strictly limited to first 320 tickets.
$249 until August 15, $349 thereafter if tickets available.
Lunch not included, but we can arrange restaurant reservations.

Register online www.diamonds.net/idc
or call +1-702-893-9400


-------------------------------------------------


Retail Quote:

“I’m not sure that the worst is over. Cartier will resist better than many other companies. I think fashion brands, ‘bling-bling’ types of brands, will suffer more than we will. We will do anything to protect the employment. We will do anything to protect our company. We will lose a bit of turnover. We were maybe more ready than other companies for this big recession, and therefore already have taken a few actions so we wouldn’t be too much hit.”

Arnaud Bamberger
Managing director for Cartier U.K.
Cie. Financiere Richemont


World News:

De Beers 1H Sales -54%, Profits -99%

De Beers Group reported that its first-half sales dropped 54 percent to $1.7 billion, and net earnings plunged 99 percent to $3 million. De Beers registered underlying losses — i.e., operating losses — of $164 million, compared with underlying earnings of $350 million one year ago. First-half sales for the Diamond Trading Company (DTC) fell 57 percent to $1.4 billion. De Beers noted that the sales decline was "due to reduced purchases by sightholders as they worked to reduce inventory levels and increase liquidity in the face of the global economic downturn." Production fell 73 percent to 6.6 million carats as many mining operations were placed on care and maintenance during the first quarter. Subsequently, though, all except one mine have resumed operations, according to De Beers. For the full year, De Beers predicts production will be half that of 2008.

Shareholders provided $500 million in additional subordinated loan funding during the period, bringing total loans to $817 million before International Financial Reporting Standards (IFRS) interest adjustments. The company stated that it is working with banks to renew a $1.5 billion term loan, which expires in March 2010. Net debt as of June 2009 was at $4.1 billion, up from $3.8 billion in December.


ALROSA Plans $2B Diamond Sales in 2009

ALROSA is planning to sell $2 billion worth of diamonds in 2009. There is a $500 million distribution agreement in place with 15 Antwerp-based companies, an additional $50 million in rough has recently been contracted for sale, and a portion of goods will be sold to the Gokhran. Additionally, ALROSA expects deals with Russian and foreign companies.


Rapaport Weekly Broadcast

Observations from the JA New York summer show found the number of exhibitors and attendees were an improvement from the winter show and about on par with the summer show of 2008. Trading activity was sluggish though and buyers were extremely conservative. Retail buying habits reflected a cautious and very selective counter space, given double-digit drops in consumer jewelry spending. The new designers' gallery and New Design Lab at the JA show was a popular destination. Stay tuned for indepth coverage of the new designers' section with an upcoming video presentation.

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=27319



DIAMOND STATS:

Shanghai Diamond Exchange Trading Volume +7% in 1H09

The Diamond Administration of China reported that trading volume — total import, export and inter-member transactions — on the Shanghai Diamond Exchange (SDE) during the first half of 2009 rose 6.9 percent to $692 million. Polished diamond imports rose 12.7 percent to $300 million, making China the third-largest diamond consuming nation, behind the U.S. and Japan.



RETAIL & WHOLESALE:

For the third consecutive week, weekly chain store sales in the U.S. remained slightly down from one year ago, according to the chain store sales snapshot produced by the International Council of Shopping Centers (ICSC) and Goldman Sachs. In the seven days that ended July 25, 2009, ICSC reported a 0.5 percent drop in weekly chain store sales from the same period in 2008. Diamond and jewelry sales results reflected continued difficult market conditions in the U.S. and Europe, with mixed results from India.

While LVMH Moët Hennessy Louis Vuitton reported that its first-half revenue rose 0.2 percent to $11.1 billion, sales for its jewelry division fell 17 percent to $491.3 million. The luxury retailer's profits dropped 23 percent to $975.5 million, and profits from the jewelry division declined 73 percent to $28.4 million. Christie’s jewelry, jadeite and watch sales were down 38 percent to $129.6 million in the first half of 2009. The bright spot in jewelry sales was Gitanjali, which reported that net sales in its first fiscal quarter grew 11 percent to $279.2 million, and net profit rose 9 percent to $9.4 million. Diamond segment sales rose 5 percent to $149.4 million, and jewelry sales increased 38 percent to $137 million. Asian Star reported that net sales fell 11 percent to $63.7 million and net profits declined 38 percent to $1.5 million, for its first fiscal quarter. Sales of cut and polished diamonds fell 10 percent to $61.8 million, and jewelry sales decreased 38 percent to $2.9 million.

In the wholesale trade, ZY Bernstein Ltd. and RGS Diamonds Ltd., fancy-cut diamond manufacturers, formed a joint venture called Diamond Dimensions to market custom-designed diamonds. The venture has already launched two new patented designs — the "lotus cut" and the "cross cut." The lotus cut has two different versions: one with three leaves and one with four leaves, both with "concept tokens" that produce the image of a lotus flower. The cross cut forms the shape of a cross, which comes in five different versions.



WHO IS NEWS:

Moti Ganz was reelected for a three-year term as chairman of the Israel Diamond Institute (IDI) group of companies. Ganz owns MOTIGANZ Diamond Group in Israel and has been active in the industry since 1989. Frederick Goldman appointed Liz Richardson, formerly of Charles & Colvard, as its vice president of sales for key accounts in the U.S. Former U.S. diplomat Mike O'Keefe was sentenced to one year in prison, and Sunil Agrawal, the chief executive of STS Jewels, was given probation plus a $100,000 fine, in a federal case involving bribes for visas. O'Keefe expedited 21 visas for STS in exchange for jewelry and vacations with female strippers. Suzanne Somers will bring her jewelry, fashion, and furnishing products to the ShopNBC network in third quarter 2009. Former Zimbabwe politician Enos Nzombi Nkala claims that his successor as Defence Minister, Moven Mahachi, was killed for opposing ZANU-PF (President Robert Mugabe's party) unbridled looting of diamonds in the Democratic Republic of the Congo.



GENERAL:

The Kimberley Process reportedly told Zimbabwe it must address abuses in its diamond fields, and recommended halting diamond trading until the country meets minimum standards, according to the Harare Herald.

The poor economy dealt another blow to the trade as the American Gem Trade Association closed its AGTA Gemological Testing Center on July 29, 2009. All gemstones in the laboratory will be returned to clients as quickly as possible.



Diamond MINING:

In the absence of a cash injection from its two shareholders, Namdeb will retain $6.4 million (NAD 51 million) in dividends that it had planned to pay to De Beers and the government, hoping to improve cash reserves. Additionally, Namdeb has sought a royalty waiver, worth about $71.4 million (NAD 565 million), but the government has not ruled on this request. Namdeb's outlook remains cautious for the rest of 2009. Rough demand and liquidity across the manufacturing sector have improved slightly.

A study by the Bench Marks Foundation concluded that there is a contradiction between what diamond mining firms say about their corporate social responsibility (CSR) schemes and the actual benefits derived from diamond mining at the community level. The study measured the CSR metrics of De Beers, Alexkor and Trans Hex, and the CSR results from Port Nolloth, Hondeklip Bay and Kleinzee in western South Africa. Bench Marks took issue with water and electrical shortages for communities that De Beers served; workers reported financial issues with state-run Alexkor; and citizens complained about environment damage from Trans Hex activities. De Beers said that it agreed with the report's generic recommendations and would study it further to improve its contribution to the region.

Endiama agreed that the treatment of illegal miners deported from the north of the country must be improved. Angola has been rounding up and deporting illegal immigrants — mostly from the Democratic Republic of the Congo (DRC) — in a bid to control the high numbers of artisanal miners known as "garimpeiros." Angola plans to introduce licenses for artisanal miners by the end of the year in order to regulate the situation.

econ watch:

For week ending July 30, 2009
July.23 July.23 Chng.
$1 = Euro 0.710 0.704 0.006
$1 = Rupee 48.34 48.47 -0.1
$1 = Israel Shekel 3.78 3.87 -0.09
$1 = Rand 7.82 7.66 0.16
$1 = Canadian Dollar 1.09 1.10 -0.01

Precious Metals
Gold $933.70 $949.30 -$15.60
Platinum $1,183.00 $1,175.00 $8.00

Stock Indexes Chng.
BSE 15,387.96 15,231.04 156.92 1.03%
Dow Jones Avg. 9,154.23 9,068.83 85.40 0.94%
FTSE 4,631.61 4,559.80 71.81 1.57%
Hang Seng 20,234.08 19,817.70 416.38 2.10%
S & P 500 986.73 976.27 10.46 1.07%
Yahoo! Jewelry Index 815.19 810.72 4.47 0.55%

USA
Birks & Mayors $0.40 $0.40 $0.00 0.00%
Blue Nile $45.45 $47.62 -$2.17 -4.56%
Charles & Colvard $0.39 $0.39 $0.00 0.00%
DGSE Companies, Inc. $0.88 $0.91 -$0.03 -3.30%
Fuqi International $22.95 $22.26 $0.69 3.10%
JCPenney $29.41 $29.49 -$0.08 -0.27%
Kohl's $49.35 $48.93 $0.42 0.86%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $2.18 $2.02 $0.16 7.92%
Macy's $13.60 $13.24 $0.36 2.72%
Man Sang $2.30 $2.24 $0.06 2.68%
Movado Group $14.55 $13.66 $0.89 6.52%
Nordstrom $25.50 $25.76 -$0.26 -1.01%
Saks $5.23 $4.59 $0.64 13.94%
Signet $21.86 $22.10 -$0.24 -1.09%
Sotheby's $14.91 $13.90 $1.01 7.27%
Tiffany $29.75 $29.56 $0.19 0.64%
Wal-Mart $49.96 $48.78 $1.18 2.42%
Zale $5.56 $4.85 $0.71 14.64%

EUROPE
Bulgari €4.00 €3.92 €0.08 2.04%
Bijou Brigitte €99.61 €101.50 -€1.89 -1.86%
Esa €2.65 €2.82 -€0.17 -6.03%
LVMH €64.00 €61.85 €2.15 3.48%
Pinault P-R SA €71.05 €65.50 €5.55 8.47%
Richemont SA CHF 26.70 CHF 26.00 CHF 0.70 2.69%
Swatch Group CHF 198.30 CHF 184.70 CHF 13.60 7.36%
Theo Fennell (pence) 49.50 47.50 2.00 4.21%

INDIA (rupee)
Classic Diamond 16.15 15.20 0.95 6.25%
Gitanjali Gems 110.50 98.95 11.55 11.67%
Rajesh Exports 41.05 40.20 0.85 2.11%
Ren. Jewellery 40.10 40.55 -0.45 -1.11%
Su-Raj Diamonds 38.05 34.45 3.60 10.45%
Titan 1,211.35 1,311.30 -99.95 -7.62%
Zodiac JRD 16.05 16.55 -0.50 -3.02%
Suashish Diamonds 186.10 177.00 9.10 5.14%

NEW ZEALAND
Michael Hill NZD 0.66 NZD 0.67 -NZD 0.01 -1.49%

MINING STOCKS
USA
Anglo American $15.58 $15.89 -$0.31 -1.95%
CANADA
Harry Winston CAD 5.97 CAD 5.94 CAD 0.03 0.51%
Mountain Province CAD 1.77 CAD 1.65 CAD 0.12 7.27%
Peregrine Diamonds CAD 0.65 CAD 0.70 -CAD 0.05 -7.14%
Rockwell Diamonds CAD 0.04 CAD 0.04 CAD 0.00 0.00%
Shore Gold CAD 0.54 CAD 0.50 CAD 0.04 8.00%
Stornoway Diamond CAD 0.12 CAD 0.13 -CAD 0.01 -7.69%
True North Gems CAD 0.13 CAD 0.13 CAD 0.00 0.00%
UK (pence)
African Diamonds 32.75 31.50 1.3 3.97%
BHP Billiton 1,576.00 1,562.00 14.0 0.90%
Firestone Diamonds 26.32 25.75 0.6 2.21%
Gem Diamonds 195.00 184.25 10.8 5.83%
Gemfields 7.00 7.00 0.0 0.00%
Mano River 6.53 6.38 0.2 2.35%
Mwana Africa 5.90 5.66 0.2 4.24%
Namakwa Diamonds 36.50 36.00 0.5 1.39%
Petra Diamonds 33.75 35.75 -2.0 -5.59%
Rio Tinto plc 2,462.00 2,410.00 52.0 2.16%



india market report:
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Kto má záujem môže ísť na konferenciu.

Rapaport International Diamond Conference
Thursday, September 10, 2009 – The Times Center, 242 West 41st Street, New York

Dear Friends,

I am sending you this personal email to encourage your participation in the Rapaport International Diamond Conference. It’s not about our making money - all the conference proceeds are donated to charity. It is about what Rapaport can do to help you navigate challenging times and identify opportunities that will help you succeed in the year ahead.



The goal of the conference is to sharpen your strategic thinking through analysis of the most important issues facing the diamond and jewelry industry. The big idea is that if you understand what is going on you will be able to position yourself and identify opportunities that will increase your profits. Simply put knowledge is power and now, during these challenging times we need all the knowledge and power we can get.



So seize the day, join us and sign up for the conference at www.diamonds.net/idc. You can also register via email idc@diamonds.net or phone +1-702-893-9400. Looking forward to seeing in New York.



Yours truly,



Martin Rapaport





Click here to register for IDC: www.diamonds.net/Conference/2009/Register



Conference Topics and Speakers



New Economy and the Jewelry Industry: From Rough to Retail
Des Kilalea, Royal Bank of Canada

Christopher Ellis, Consensus Advisors

New Consumer Markets: The India Story
C.K. Venkataraman, COO Tanishq

Mehul Choksi, Chairman Gitanjali

Riding the Wave of Change
Martin Rapaport, Chairman Rapaport Group

The Big Stone Market: 47th Street Perspectives
Ronald Friedman, President DMIA

Moshe Mosbacher, President NY DDC

And leading diamond manufacturers

Human Rights and the Diamond Industry:

What can and should we do?

Ian Smillie, Chairman, Development Diamond Initiative (DDI)
Georgette Gagnon, Human Rights Watch - Director Africa Division

Brad Brooks-Rubin, U.S. State Department.

Eli Izhakoff, Chairman, World Diamond Council (WDC)
Cecilia Gardner, President Jeweler’s Vigilance Committee
Matt Runci, President of Jeweler’s of America and Responsible Jewelers Council (RJC)

Additional and updated information available at www.diamonds.net/idc



Click here to register for conference: https://www.diamonds.net/Conference/2009/Register



This email sent to djkokavec@orangemail.sk by The Rapaport Group, 133 E Warm Springs Road, Las Vegas, Nevada, 89119. You are receiving this email because you subscriber to a Rapaport information product or service. Please email stopmail@diamonds.net to remove your name from the Tradewire mailing list
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire - Friday, August 21, 2009
News: U.S. demand weak as consumers continue to hold back spending due to fears about economy and job security. Polished markets quiet during summer vacation. Lots of opportunity and risk in rough markets as Russia plans to sell over $2 billion during second half 2009. Markets uncertain about De Beers pricing and supplies prior to next week’s sight. Rio Tinto 1H diamond revenues -68% to $184 mil., net loss of $56 mil. vs. profit of $108 mil. ALROSA posts net loss of $1 bil. for 2008, vs. profit of $505 mil. Swatch 1H sales -17% to $2.3 bil., net income -28% to $281 mil. Saks 2Q sales -15% to $562 mil., net loss of $55 mil., vs. loss of $33 mil. JCPenney 2Q sales -8% to $4 bil., net loss of $1 mil. vs. profit of $117 mil. U.S. jewelry price index +1% in July.


ANNOUNCEMENTS:

RAPAPORT INTERNATIONAL DIAMOND CONFERENCE - 2009
Sept. 10, New York Times Center – 8:30 a.m. to 5:00 p.m.

Conference Topic — "New Realities"

The New Economy and the Jewelry Industry
From Rough to Retail
Des Kilalea, Royal Bank of Canada
Christopher Ellis, Consensus Advisors

New Consumer Markets: The India Story
C.K. Venkataraman, COO Tanishq - Titan Industries
Mehul Choksi, Chairman Gitanjali Group

Riding the Wave of Change
Martin Rapaport, Chairman Rapaport Group

The Big Stone Market: The 47th Street Perspective
Ronald Friedman, Pres. DMIA
Moshe Mosbacher, Pres. NY DDC
And other leading NY diamantaires

Human Rights and the Diamond Industry: Panel Discussion
What can and should we do?

Ian Smillie, DDI
Eli Izhakoff, WDC
Cecilia Gardner, JVC
Brad Brooks Rubin, U.S. State Dept.
Human Rights Watch

The conference will be held at the new
New York Times Center, 242 West 41 St.

Register now!
or call +1-702-893-9400, or email idc@diamonds.net.
Registration is $249
A VIP luncheon is available for an extra charge
Special hotel reservations available from the Hilton Times Square

--------------------------------------------------



Retail Quote:

"The consumer is not as enthusiastically anticipating a recovery as [Wall Street] has been. Doubts about the consumer's willingness to spend are calling into question the rate of the economy's recovery."

Stephen Lieber
Chief investment officer
Alpine Woods Investments



RETAIL & WHOLESALE:

There were widespread declines in consumer demand for gold jewelry during the second quarter, reflected by a 22 percent drop from one year ago. Global gold demand fell 9 percent by weight and 6 percent by value to $21.3 billion. However, investment demand for gold remained strong, up 46 percent, according to the World Gold Council. Demand in India fell 38 percent, while gold demand in China rose 9 percent. Total demand for gold fell 18 percent in the Middle East, with jewelry demand down by 17 percent. In the U.S., the demand rose 10 percent, but jewelry demand was down 19 percent.

The consumer price index (CPI) for jewelry in the U.S. during July rose 0.6 percent year-on-year to 156.61 points. In contrast, the CPI for all consumer products fell 1.9 percent to 214.47 points. While the increase in the jewelry index was minimal, the figure was up 1 percent from June and has now held above 150 points for 18 consecutive months. Prior to its current run, the index had not reached 150 points since February 1998.

The Reuters/University of Michigan index of U.S. consumer sentiment fell in August, souring the optimism that has boosted Wall Street in recent weeks. The index suggested that consumers remain too worried about job security to go on spending sprees. The affluent in the U.S. feel better about the economy, though.

Unity Marketing warned the industry's marketers, however, not to ignore the fundamental changes taking place in wealthy consumers' buying habits. Unity's Luxury Consumption Index (LCI) rose 18.6 points in the second quarter and affluents spent 11 percent more on products and services. But consumers' expectations of future luxury spending continued to lag behind other indicators and their basic attitudes toward consumption have changed in that they demand better value, quality and price compared with pre-recession times.

Weekly chain store sales in the U.S. for the week that ended August 15, were 0.6 percent lower than one year ago. U.S. department store sales fell 12 percent to $15 billion in July. Japan reported a similar percentage drop for the month, with total sales of $6.5 billion.

Financial results from the large retailers continue to show weak consumer spending. J.C. Penney's second-quarter sales fell 8 percent to $3.9 billion, while the retailer's same-store sales fell 9.5 percent and it recorded a loss of $1 million, compared with profits of $117 million one year ago.

BJ's Wholesale Club reported weak jewelry sales in the second quarter as total sales fell 5 percent to $2.5 billion and same-store sales fell 8 percent. Net income fell 4 percent to $35 million.

High-end retailer Saks reported that its sales fell 15 percent in the second quarter to $562 million, its same-store sales fell 16 percent and its net loss grew to $54.5 million from $32.7 million.

ShopNBC's second-quarter sales fell 16 percent to $119.3 million, with jewelry accounting for 28 percent of the product mix, which was down from 39 percent one year ago. ShopNBC reported a net loss of $8.2 million, an improvement over a loss of $15.8 million.

Swatch Group's first-half sales declined 17 percent to $2.3 billion and its net income fell 28 percent to $281 million.

Man Sang Holdings' first-quarter revenues dropped 46 percent to $6.3 million and its net earnings decreased 83 percent to $90,319.

DGSE's second-quarter revenue fell 14 percent to $21.6 million and its net income rose 41 percent to $689,504.

Charles & Colvard's second-quarter sales were down 64 percent to $1.3 million and the firm reported a loss of $1.2 million, up from a loss of $1.1 million one year ago.

In retail expansion news, James Avery Jewelers opened a new store in Birmingham, Alabama, at The Summit, marking the 52nd location for the retailer. David Orgell and Montblanc opened high-end jewelry boutiques on Rodeo Drive in Beverly Hills, California.

In India, Tanishq's Zoya retail chain launched a collection of diamond wedding jewelry that includes diamond-studded neckpieces, bracelets, earrings and rings.

Rapaport Weekly Broadcast

The jewelry price index has maintained monthly increases since March 2006. Has jewelry inflation peaked?



MINING:

ALROSA reported a net loss of $1 billion for 2008 compared with profits of almost $505 million in 2007. Production fell 11 percent to $2.4 billion, while the firm's net debt nearly doubled to $3.6 billion.

Rio Tinto's diamond revenues fell 68 percent to $184 million during the first half of 2009.The diamond unit posted a net loss of $56 million, compared with profits of $108 million. Production fell 14 percent to 6.787 million carats.

Rockwell Diamonds generated sales of about $4 million in July and reported a 10 percent increase in rough prices during the month. Shore Gold posted a second-quarter net loss of $2 million, which was an improvement from its loss of $2.5 million one year ago.

BRC DiamondCore reported a second-quarter net loss of $1.8 million, up from $1 million in 2008.

India's sole diamond mine, Panna, is set to reopen after being closed for four years. The mine is expected to produce 100,000 carats per year.

The UN estimated that 114,629 people have been expelled from Angola's diamond-rich north and pushed into the Democratic Republic of the Congo (DRC) since December 2008.


IN THE NEWS:

The New York Diamond Dealers Club presented Freddy Hager, London Diamond Bourse president, with an honorary membership in recognition of his significant contributions to the industry.

JWT named Sally Morrison its interim U.S. director in charge of the De Beers account, following the departure of Richard Lennox in July. Morrison has served as director of the Diamond Information Center for the past seven years.

Alpha Kwok, a Chinese-born British national, was arrested in Manila for allegedly smuggling $20 million in diamonds and gemstones for private clients. The undersecretary of the nation's anti-smuggling group vows to disclose Kwok's clients, many of whom were said to be jewelers.


ECON WATCH:
Aug.20 Aug.13 Chng.
$1 = Euro 0.702 0.700 0.002
$1 = Rupee 48.58 48.15 0.4
$1 = Israel Shekel 3.82 3.79 0.03
$1 = Rand 7.90 8.01 -0.11
$1 = Canadian Dollar 1.09 1.08 0.01

Precious Metals
Gold $940.20 $954.50 -$14.30
Platinum $1,239.00 $1,265.00 -$26.00

Stock Indexes Chng.
BSE 15,012.32 15,518.49 -506.17 -3.26%
Dow Jones Avg. 9,349.82 9,398.19 -48.37 -0.51%
FTSE 4,756.58 4,755.46 1.12 0.02%
Hang Seng 20,328.86 20,861.30 -532.44 -2.55%
S & P 500 1,007.25 1,012.73 -5.48 -0.54%
Yahoo! Jewelry Index 863.85 867.81 -3.96 -0.46%

USA
Birks & Mayors $0.50 $0.47 $0.03 6.38%
Blue Nile $54.63 $53.55 $1.08 2.02%
Charles & Colvard $0.50 $0.60 -$0.10 -15.97%
DGSE Companies, Inc. $0.78 $0.85 -$0.07 -8.24%
Fuqi International $24.79 $28.26 -$3.47 -12.28%
JCPenney $30.70 $33.34 -$2.64 -7.92%
Kohl's $51.52 $52.39 -$0.87 -1.66%
Lazare Kaplan $2.69 $2.47 $0.22 8.91%
LJ International $1.78 $2.64 -$0.86 -32.58%
Macy's $14.89 $16.15 -$1.26 -7.80%
Man Sang $2.05 $2.22 -$0.17 -7.66%
Movado Group $11.95 $13.09 -$1.14 -8.71%
Nordstrom $27.84 $29.76 -$1.92 -6.45%
Saks $5.61 $6.09 -$0.48 -7.88%
Signet $22.65 $22.61 $0.04 0.18%
Sotheby's $17.00 $16.62 $0.38 2.29%
Tiffany $30.78 $31.01 -$0.23 -0.74%
Wal-Mart $51.70 $51.88 -$0.18 -0.35%
Zale $6.05 $6.37 -$0.32 -5.02%

EUROPE
Bulgari €4.96 €4.78 €0.18 3.77%
Bijou Brigitte €115.79 €110.00 €5.79 5.26%
Esa €0.72 €0.68 €0.04 5.88%
LVMH €64.31 €63.50 €0.81 1.28%
Pinault P-R SA €79.86 €78.93 €0.93 1.18%
Richemont SA CHF 28.58 CHF 27.06 CHF 1.52 5.62%
Swatch Group CHF 226.00 CHF 210.10 CHF 15.90 7.57%
Theo Fennell (pence) 46.00 49.00 -3.00 -6.12%

INDIA (rupee)
Classic Diamond 16.80 18.20 -1.40 -7.69%
Gitanjali Gems 106.80 108.45 -1.65 -1.52%
Rajesh Exports 43.00 43.40 -0.40 -0.92%
Ren. Jewellery 38.90 40.15 -1.25 -3.11%
Su-Raj Diamonds 39.55 43.30 -3.75 -8.66%
Titan 1,194.55 1,194.65 -0.10 -0.01%
Zodiac JRD 16.50 16.00 0.50 3.13%
Suashish Diamonds 187.00 184.75 2.25 1.22%

NEW ZEALAND
Michael Hill NZD 0.69 NZD 0.73 -NZD 0.04 -5.48%

MINING STOCKS

CANADA
Harry Winston CAD 6.03 CAD 6.18 -CAD 0.15 -2.43%
Mountain Province CAD 1.67 CAD 1.71 -CAD 0.04 -2.34%
Peregrine Diamonds CAD 0.70 CAD 0.74 -CAD 0.04 -5.41%
Rockwell Diamonds CAD 0.05 CAD 0.05 CAD 0.00 0.00%
Shore Gold CAD 0.57 CAD 0.59 -CAD 0.02 -3.39%
Stornoway Diamond CAD 0.12 CAD 0.12 CAD 0.00 0.00%
True North Gems CAD 0.12 CAD 0.12 CAD 0.00 0.00%
UK (pence)
African Diamonds 29.48 29.12 0.4 1.24%
Anglo American 1,915.00 1,922.00 -7.0 -0.36%
BHP Billiton 1,562.50 1,590.00 -27.5 -1.73%
Firestone Diamonds 26.09 24.50 1.6 6.49%
Gem Diamonds 251.75 247.00 4.8 1.92%
Gemfields 7.60 7.25 0.4 4.83%
Mano River 7.37 7.80 -0.4 -5.51%
Mwana Africa 6.82 6.50 0.3 4.92%
Namakwa Diamonds 33.05 34.60 -1.6 -4.48%
Petra Diamonds 34.50 33.50 1.0 2.99%
Rio Tinto plc 2,334.50 2,410.46 -76.0 -3.15%


INDIA MARKET REPORT:
POLISHED: Activity is quiet due to long weekend and the ongoing Jain festival of Paryushan.
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire - Friday, September 25, 2009
News: Hong Kong show opened strong but softened as Far East buyers refused to pay higher prices. Price standoff is restricting sales volume. Sellers report slightly higher prices but below their expectations. Good Demand for 1-3 cts., G-I, VVS-VS, X-VG+ goods with sellers pushing SI qualities to Far East markets. Trade is concerned about further rough price increases at next week’s sights. ALROSA Sept. sales about $200 mil. Rio Tinto predicts stronger demand and higher sales for 2H. Zale to restate 2007, 2008 financials after errors found. Retail Forward analysts predict flat sales growth for U.S. 4Q retail. Bloomberg reports Gordon Brothers buys Finlay assets for $116 mil. Rapaport offices closed Monday Sept. 28 for Yom Kippur.

SPECIAL MESSAGE FROM MARTIN RAPAPORT

Dear Friends,

Greetings and best wishes for the upcoming holiday season. I am writing to ask for your assistance regarding the distribution of the Rapaport Price List. Over the next few weeks and months we will be expanding the electronic distribution of the Price List. As we increase access we will also be implementing controls to ensure that only paid subscribers receive and have access to the Price List.

At this time I am personally appealing to our Rapaport subscribers not to redistribute the Rapaport Price List or give your password to any third parties. Your subscription and membership is personal. Please do not give copies of our list to third parties. I am also appealing to those who receive the Price List without a membership subscription to please join Rapaport directly by emailing join@rapaport.com or subscribing via our www.diamonds.net website.

The Rapaport Group is committed to significantly expanding our information and services to clients at reasonable cost. We will only share our knowledge and technology with honest and ethical clients who respect our intellectual property and the extensive investment we make in research and development. We will terminate our relationship with those that violate our terms of service, trading rules and compliance requirements. We will fully support and help increase the trade and profitability of clients that work with us in a fair and honest manner.

As the diamond trade adapts to the new realities of the marketplace, great opportunities await those who use advanced communication technology to reach and develop new customers. The Rapaport Group is on the cutting edge of new technologies and is committed to helping our clients use them to grow and prosper. I urge members of the diamond trade to join our efforts us and share the benefits.

Yours truly,
Martin Rapaport



ANNOUNCEMENTS:

RAPAPORT NY POLISHED DIAMOND TENDER
October 19–22, 2009

Wide assortment of round and fancy shape polished diamonds
Fine to commercial qualities, -6.5 sieve plate to 1+ carat.

By Appointment Only

Contact: Myles Schakler
Email:NYTender@diamonds.net
Phone: +1-212-354-9800

------------------------------------


QUOTE OF THE WEEK:

“This [zero growth rate as opposed to negative sales] is positive news as we move into the critical holiday season, but the economic environment will remain difficult. Sales declines will persist for specific retail channels—particularly apparel and home goods—but will end for aggregate measures of retail sales. The emerging recovery will be driven by growing confidence among households in response to, among other things, subsiding job cuts by businesses. Businesses, in turn, are taking their foot off the brakes in light of leaner inventories and expectations that pent-up demand and economic stimulus will soon require new business investment.”

Frank Badillo
Senior economist for Retail Forward


WORLD NEWS:

The September Hong Kong Jewellery & Gem Fair reported a record number of exhibitors spread out across a space 25 percent larger than that afforded by previous shows. Hong Kong buyers represented almost one-third of visitor traffic and another one-quarter arrived from mainland China. Notably, a decent number of visitors were present from the U.S., Taiwan and India. In contrast with other shows held earlier this year, exhibitors especially noticed that buyers from India were quick to close deals. There was, however, very little interdealer trading at the show. Demand was focused upon 1.00-3.00 ct., G-I, VVS-VS goods, while sellers were also finding increased success in SI clarities. H-I colors and lower are selling well in general. Participants noted some price increases, but they still failed to reach sellers’ expectations.
Read detailed coverage from the show.

The 44th Bangkok Gems & Jewelry Fair reported that traffic was on par with the 2008 level and this year’s show offered a fine diamond jewelry pavilion for the first time. Trading activity during the show centered on colored stones and silver jewelry. Diamond jewelry experienced weak activity. The show highlighted Thailand's aggressive branding initiative to become a major colored gemstone jewelry trading center. Thailand also reduced the value-added tax (VAT) on rough stone and precious metal imports in order to boost the local cutting, polishing and jewelry design trades.

ALROSA plans to sell between $190 million and $200 million worth of rough in September, much of which will be handled through long-term contracts. The company also plans to deliver a large supply of rough to the Gokhran. So far this year, Gokhran has purchased about $395 million in rough.

Rapaport Weekly Broadcast
Diamond jewelry and major brands were plentiful on the red carpet at the 61st annual Emmys. See some of the pieces up close.


RETAIL & WHOLESALE:

Zale will restate its financial results for fiscal years 2007 and 2008 and expects to provide interim results for fiscal 2009 by October 29. Zale has twice delayed releasing its 2009 results pending review of the prior two years. The company's balance sheets for 2007 and 2008 misreported $41 million in prepaid advertising costs. Additional adjustments were required to aggregate approximately $9 million on a pre-tax basis from charges related to accounts receivable and depository bank account reconciliations. Another $4 million charge related to federal income taxes will be recorded in fiscal 2008.

Finlay Enterprises and its affiliates and subsidiaries completed an auction for its business and assets under provisions of the United States Bankruptcy Court in New York. The winning bid went to Gordon Brothers Retail Partners and the group will conduct "store closing" or similar sales of merchandise located at all of Finlay's locations, including distribution centers. The transaction must be approved by the court, and once approved could complete by February 28, 2010.

Weekly U.S. chain store sales were basically flat from one year ago for the week that ended September 19, 2009, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Foot traffic slowed and customer traffic was sharply lower at department stores.

Lazare Kaplan could be delisted from the New York Stock Exchange (NYSE) if it fails to meet certain conditions required by the exchange. Lazare Kaplan delayed filing its annual report, but it has notified the exchange that it will submit a plan of action by September 30, 2009 detailing the measures necessary for it to achieve compliance by December 15. Failure to submit the plan or the rejection of the plan by the exchange would also subject Lazare Kaplan to delisting.

Stuller introduced a Red Box Diamond Giveaway through Facebook in conjunction with the release of its iPhone application to consumers in order to help drive bridal shoppers to local, independent Red Box Diamond retailers. Stuller hopes to generate excitement among consumers, which would result in increased business for the retailers.


MINING:

Rio Tinto told investors that sales and supplies of rough have risen recently and will continue to increase for the remainder of the year. Rio Tinto is a partner in the Diavik mine, where production has so far exceeded the company’s expectations for 2009. Diavik has undergone an expansive shift toward underground mining and Rio Tinto expects underground production to begin there in early 2010.

Peregrine Diamonds discovered large diamonds and a coarse diamond-size distribution from samples collected at the Chidliak project on Baffin Island in Nunavut, Canada. One sample from CH-6 yielded 2,730 diamonds that were larger than the 0.075 mm. sieve size, including 131 diamonds bigger than the 0.600 mm. sieve size. The largest diamond recovered from the sample was a 0.62-carat, white, transparent aggregate. Another sample from CH-5 revealed a diamondiferous pipe with a 423.7 kg. surface sample yielding 49 diamonds larger than the 0.075 mm. sieve size.

Lucara Diamond was granted a ten-year diamond mining lease by Lesotho for its Mothae project concurrent with a diamond mining agreement between Lucara and the government. Lucara will hold a 75-percent stake in the project, while the government will hold a 25-percent share. Lucara can now move forward with pre-production testing. A diamond valuation conducted in June resulted in a modeled diamond value of $549 per carat for Mothae.

TanzaniteOne reported an interim first half loss of $580,000, a sharp decline from its profits of $3.5 million for the first half of 2008. Revenue fell 77 percent to $4.9 million. The number of carats recovered fell 21 percent and the cash cost per carat rose to $3.99 from $3.38. The mining company noted that its second sight of the year was delayed and held in July, which further eroded its first-half revenue. This sale achieved $2.01 million and will be included in TanzaniteOne’s second-half results.


ECON WATCH:
Sept. 24 Sept. 17 Chng.
$1 = Euro 0.683 0.678 0.005
$1 = Rupee 48.30 48.12 0.2
$1 = Israel Shekel 3.75 3.74 0.01
$1 = Rand 7.46 7.39 0.07
$1 = Canadian Dollar 1.08 1.06 0.02

Precious Metals
Gold $993.70 $1,011.80 -$18.10
Platinum $1,297.00 $1,335.00 -$38.00

Stock Indexes Chng.
BSE 16,781.43 16,711.11 70.32 0.42%
Dow Jones Avg. 9,706.46 9,784.22 -77.76 -0.79%
FTSE 5,079.27 5,163.95 -84.68 -1.64%
Hang Seng 21,050.73 21,768.51 -717.78 -3.30%
S & P 500 1,050.75 1,065.50 -14.75 -1.38%
Yahoo! Jewelry Index 1,015.80 1,067.42 -51.62 -4.84%

USA
Birks & Mayors $0.58 $0.59 -$0.01 -1.19%
Blue Nile $60.01 $61.73 -$1.72 -2.79%
Charles & Colvard $0.63 $0.70 -$0.07 -10.00%
DGSE Companies, Inc. $1.42 $1.41 $0.01 0.71%
Fuqi International $29.32 $30.57 -$1.25 -4.09%
JCPenney $32.87 $33.67 -$0.80 -2.38%
Kohl's $54.76 $54.87 -$0.11 -0.20%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $2.18 $2.24 -$0.06 -2.68%
Macy's $18.02 $17.68 $0.34 1.92%
Man Sang $2.55 $2.12 $0.43 20.28%
Movado Group $14.76 $13.77 $0.99 7.19%
Nordstrom $30.61 $31.68 -$1.07 -3.38%
Saks $6.94 $7.13 -$0.19 -2.66%
Signet $25.35 $26.51 -$1.16 -4.38%
Sotheby's $16.03 $16.75 -$0.72 -4.30%
Tiffany $36.83 $38.84 -$2.01 -5.18%
Wal-Mart $50.69 $49.90 $0.79 1.58%
Zale $7.28 $7.35 -$0.07 -0.95%

EUROPE
Bulgari €5.21 €5.56 -€0.35 -6.29%
Bijou Brigitte €116.73 €126.69 -€9.96 -7.86%
LVMH €67.79 €69.74 -€1.95 -2.80%
Pinault P-R SA €84.31 €87.00 -€2.69 -3.09%
Richemont SA CHF 29.18 CHF 29.82 -CHF 0.64 -2.15%
Swatch Group CHF 233.60 CHF 239.00 -CHF 5.40 -2.26%
Theo Fennell (pence) 34.00 35.00 -1.00 -2.86%

INDIA (rupee)
Classic Diamond 25.90 25.60 0.30 1.17%
Gitanjali Gems 117.50 121.05 -3.55 -2.93%
Rajesh Exports 74.95 74.05 0.90 1.22%
Ren. Jewellery 48.15 51.90 -3.75 -7.23%
Su-Raj Diamonds 52.25 52.75 -0.50 -0.95%
Titan 1,249.85 1,275.30 -25.45 -2.00%
Zodiac JRD 22.05 21.55 0.50 2.32%
Suashish Diamonds 214.65 221.35 -6.70 -3.03%

NEW ZEALAND
Michael Hill NZD 0.72 NZD 0.75 -NZD 0.03 -4.00%

MINING STOCKS
CANADA
Harry Winston CAD 9.14 CAD 9.52 -CAD 0.38 -3.99%
Mountain Province CAD 2.65 CAD 1.74 CAD 0.91 52.30%
Peregrine Diamonds CAD 1.80 CAD 0.73 CAD 1.07 146.58%
Rockwell Diamonds CAD 0.05 CAD 0.05 CAD 0.00 0.00%
Shore Gold CAD 1.07 CAD 1.45 -CAD 0.38 -26.21%
Stornoway Diamond CAD 0.15 CAD 0.16 -CAD 0.01 -6.25%
True North Gems CAD 0.12 CAD 0.12 CAD 0.00 0.00%
UK (pence)
African Diamonds 29.75 29.00 0.8 2.59%
Anglo American 2,062.08 2,125.00 -62.9 -2.96%
BHP Billiton 1,686.62 1,766.00 -79.4 -4.49%
Firestone Diamonds 37.25 40.75 -3.5 -8.59%
Gem Diamonds 243.60 251.90 -8.3 -3.29%
Gemfields 6.75 6.90 -0.2 -2.17%
Mano River 8.63 7.75 0.9 11.35%
Mwana Africa 12.25 12.00 0.3 2.08%
Namakwa Diamonds 33.05 35.05 -2.0 -5.71%
Petra Diamonds 53.00 42.00 11.0 26.19%
Rio Tinto plc 2,686.09 2,740.00 -53.9 -1.97%


INDIA MARKET REPORT:
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, October 02, 2009


News: Buyers market for polished diamonds prevails following extreme price resistance at Hong Kong show. Price standoff continues as profit margins remain low. Sellers expected higher HK prices. Buyers disappointed by inability to buy cheap. Uncertainty creeps back into rough market as demand eases yet shortages prevail. De Beers cancels Snap Lake Dec. shutdown on improved outlook. Petra Diamonds FY09 revenues -10% to $69.3 mil., net loss of $88.9 mil. vs. net profit of $1.9 mil. a year earlier. Petra’s Cullinan mine yields 507.55 ct. white diamond said to be worth some $20 mil. Finlay Enterprises begins going-out-of-business sale. Japan’s Aug. polished imports -21% to $36.4 mil.


ANNOUNCEMENTS:

RAPAPORT ROUGH DIAMOND TENDER
October 18-22, 2009 -- Ramat Gan, Israel

Selections of fine-quality, one to ten carat rough diamonds

By Appointment Only

Contact: Joshua Kersh
Email: roughtenders@diamonds.net
Phone: 972-3-613-3330


RAPAPORT POLISHED DIAMOND TENDER
October 19–22, 2009 -- New York

Wide assortment of round and fancy shape polished diamonds
Fine to commercial qualities, -6.5 sieve plate to 1+ carat.

By Appointment Only

Contact: Myles Schakler
Email: Tenders@diamonds.net
Phone: 1-212-354-9800


------------------------------------


QUOTE OF THE WEEK:

“Keeping Snap Lake open is a good news decision in response to some positive trends we are seeing in the marketplace. While we are optimistic about the improvements we are seeing in the global industry, we will continue to make decisions carefully, with a focus on the long-term success for our new Canadian mines.”

Jim Gowans
President of De Beers Canada


RETAIL & WHOLESALE

Weekly chain store sales in the U.S. rose almost 1 percent from one year ago for the week that ended September 26, 2009, according to the weekly measurement provided by the International Council of Shopping Centers (ICSC) and Goldman Sachs. Consumer foot traffic also increased, which helped to boost comparable store sales slightly for a third consecutive week. As a preliminary estimate of Christmas season spending, the research group expects chain store sales to rise 1 percent for November and December combined.


Finlay Enterprises is holding going-out-of-business sales at all locations and will be closing Bailey Banks & Biddle, Congress Jewelers, Carlyle & Co., J.E. Caldwell, Park Promenade and Zell Bros. Jewelers. Bon-Ton Stores, Finlay's final jewelry-counter client, will take control of its own fine jewelry departments in 86 locations by Christmas.


Tiffany & Co. plans to open its second boutique at London's Heathrow Airport just in time for the Christmas shopping season. The new boutique will be located in the airport's Terminal 3 and marks the jeweler’s eighth location in greater London. Tiffany opened a boutique in Terminal 5 during 2008. In another development, Tiffany and Swatch will launch a range of watches in the price range of $3,200 to $8,000. Learn more about the Tiffany/Swatch partnership with this video presentation.


One of Japan's largest department stores, Takashimaya Co., noted that consumers have grown cost-conscious and turned away from pricey goods, such as jewelry and high-end apparel. Takashimaya lowered its profit forecast to $55 million, a drop of 65 percent from 2008. The department store’s sales fell 10 percent to $4.8 billion.


GENERAL

Japan’s polished diamond imports fell 21 percent to $36.4 million in August 2009. For the first eight months of the year, Japan’s polished imports fell 25 percent to $400.7 million, reflecting very weak demand on the island nation.


The Gemological Institute of America (GIA) identified three counterfeit grading reports accompanying its diamonds in Johannesburg, South Africa, with the stones in question weighing 3.00 carats, 4.08 carats and 5.01 carats. GIA found that at least one of the three diamonds was high pressure-high temperature (HPHT) treated. Follow-up testing is currently being conducted on the other two diamonds. GIA concluded that the problem is not believed to be widespread, but limited to a small number of stones. One person has been arrested in the case following a GIA investigation that involved working with the client and industry leadership in South Africa. Authentic GIA reports include a number of important security features, with some being apparent and others more subtle.


Rapaport Weekly Broadcast
Did you see the 507.55-carat whopper of a rough diamond from Petra's Cullinan mine? Petra recovered three additional large stones, as well.


MINING

Petra Diamonds posted a net loss of $88.9 million for the fiscal year that ended June 30, 2009, compared with a net profit of $1.9 million in 2008. The net loss was primarily due to $75.2 million in impairment charges — one with respect to withdrawing operations from Angola and another from the write-down of Petra’s 51 percent stake in the Kono project in Sierra Leone. Carat production rose five-fold to surpass the company’s annual goal of 1 million carats. Petra’s revenue fell 10 percent to $69.3 million due to weak diamond prices, which took effect at the beginning of its second fiscal quarter. Mining and processing costs rose 70 percent to $64 million as profits from its mining activity declined 80 percent to $7.8 million. Petra bought the Cullinan mine in July 2008 and the Williamson mine in February 2009. The company had $11.1 million in cash on hand at the close of the 2009 fiscal year, which was insufficient to finance its ongoing trade operations. Petra may undertake a fundraising effort, depending on the prices the company achieves for the sale of the four large diamonds it just recovered at Cullinan.


Pangea DiamondFields reported that revenues from its operations fell 60 percent to $895,661 for the six months that ended June 30, 2009 and cautioned that certain conditions must be met for it to continue operating. The company posted a net loss of $8.9 million for the half-year, which was down from a loss of $11.1 million one year ago. Cash reserves were $3.3 million and Pangea held 3,382 carats of rough diamond stock valued at $500,000.


De Beers Canada cancelled the four-week December hiatus that had been planned for its Snap Lake Mine due to an improved outlook for rough diamond demand from sightholders. The move followed a similar decision by Harry Winston and Rio Tinto to keep their joint-venture Diavik mine open in December, after having planned an operational closure due to market conditions. De Beers Group implemented a number of temporary mine cessations across its global operations this year in response to the economic downturn.


Econ Watch
Oct. 1 Sept. 24 Chng.
$1 = Euro 0.688 0.683 0.005
$1 = Rupee 47.77 48.30 -0.5
$1 = Israel Shekel 3.77 3.75 0.02
$1 = Rand 7.52 7.46 0.06
$1 = Canadian Dollar 1.07 1.08 -0.01

Precious Metals
Gold $999.40 $993.70 $5.70
Platinum $1,279.00 $1,297.00 -$18.00

Stock Indexes Chng.
BSE 17,134.55 16,781.43 353.12 2.10%
Dow Jones Avg. 9,508.83 9,706.46 -197.63 -2.04%
FTSE 5,047.82 5,079.27 -31.45 -0.62%
Hang Seng 20,955.25 21,050.73 -95.48 -0.45%
S & P 500 1,029.84 1,050.75 -20.91 -1.99%
Yahoo! Jewelry Index 1,040.72 1,015.80 24.92 2.45%

USA
Birks & Mayors $0.55 $0.58 -$0.03 -5.17%
Blue Nile $60.21 $60.01 $0.20 0.33%
Charles & Colvard $0.59 $0.63 -$0.04 -6.35%
DGSE Companies, Inc. $1.41 $1.42 -$0.01 -0.70%
Fuqi International $27.24 $29.32 -$2.08 -7.09%
JCPenney $32.81 $32.87 -$0.06 -0.18%
Kohl's $55.49 $54.76 $0.73 1.33%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $2.04 $2.18 -$0.14 -6.42%
Macy's $17.49 $18.02 -$0.53 -2.94%
Man Sang $2.47 $2.55 -$0.08 -3.14%
Movado Group $13.05 $14.76 -$1.71 -11.59%
Nordstrom $29.51 $30.61 -$1.10 -3.59%
Saks $6.35 $6.94 -$0.59 -8.50%
Signet $26.75 $25.35 $1.40 5.52%
Sotheby's $16.56 $16.03 $0.53 3.31%
Tiffany $38.00 $36.83 $1.17 3.18%
Wal-Mart $49.26 $50.69 -$1.43 -2.82%
Zale $6.56 $7.28 -$0.72 -9.89%

EUROPE
Bulgari €5.22 €5.21 €0.01 0.19%
Bijou Brigitte €119.49 €116.73 €2.76 2.36%
LVMH €68.01 €67.79 €0.22 0.32%
Pinault P-R SA €86.60 €84.31 €2.29 2.72%
Richemont SA CHF 28.60 CHF 29.18 -CHF 0.58 -1.99%
Swatch Group CHF 239.40 CHF 233.60 CHF 5.80 2.48%
Theo Fennell (pence) 37.00 34.00 3.00 8.82%

INDIA (rupee)
Classic Diamond 25.20 25.90 -0.70 -2.70%
Gitanjali Gems 122.05 117.50 4.55 3.87%
Goldiam Int'l 28.75 30.90 -2.15 -6.96%
Rajesh Exports 71.30 74.95 -3.65 -4.87%
Ren. Jewellery 49.55 48.15 1.40 2.91%
Su-Raj Diamonds 51.60 52.25 -0.65 -1.24%
Titan 1,250.05 1,249.85 0.20 0.02%
Zodiac JRD 21.60 22.05 -0.45 -2.04%
Suashish Diamonds 210.10 214.65 -4.55 -2.12%

NEW ZEALAND
Michael Hill NZD 0.71 NZD 0.72 -NZD 0.01 -1.39%

MINING STOCKS
CANADA
Harry Winston CAD 8.61 CAD 9.14 -CAD 0.53 -5.80%
Mountain Province CAD 2.66 CAD 2.65 CAD 0.01 0.38%
Peregrine Diamonds CAD 2.60 CAD 1.80 CAD 0.80 44.44%
Rockwell Diamonds CAD 0.05 CAD 0.05 CAD 0.00 0.00%
Shore Gold CAD 1.08 CAD 1.07 CAD 0.01 0.93%
Stornoway Diamond CAD 0.18 CAD 0.15 CAD 0.03 20.00%
True North Gems CAD 0.13 CAD 0.12 CAD 0.01 8.33%
UK (pence)
African Diamonds 26.68 29.75 -3.1 -10.32%
Anglo American 1,926.00 2,062.08 -136.1 -6.60%
BHP Billiton 1,661.50 1,686.62 -25.1 -1.49%
Firestone Diamonds 36.75 37.25 -0.5 -1.34%
Gem Diamonds 230.00 243.60 -13.6 -5.58%
Gemfields 6.75 6.75 0.0 0.00%
Mano River 7.82 8.63 -0.8 -9.39%
Mwana Africa 12.05 12.25 -0.2 -1.63%
Namakwa Diamonds 35.05 33.05 2.0 6.05%
Petra Diamonds 57.75 53.00 4.8 8.96%
Rio Tinto plc 2,600.00 2,686.09 -86.1 -3.21%


India Market Report
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, October 23, 2009


News: Polished prices firming with improved trading conditions expected before holiday season. Oil hits one-year high ($81/barrel) as U.S. dollar continues to weaken (euro/$1.50). India’s Diwali jewelry sales meet expectations with manufacturers anticipating rise in domestic demand. Christie's NY sells $46.5 mil. (85% by lot) including emerald-cut, 32.01 cts., D, flawless Annenberg Diamond for $7.7 mil. ($240,503/ct). Sotheby's NY sells $13.8 mil. (84% by lot), with 29.53 ct., D, (type IIa) for $3.5 mil. ($118,000 p/ct.). ALROSA Oct. sales $355 mil. Gem Diamonds 3Q rough sales -9% to $51.5 mil. BHP Billiton 1Q diamond production +1% to 780,000 cts. LVMH 3Q sales -3% to $6.2 bil., jewelry sales -22% to $279 mil. India’s Sept. polished exports +11% to $1.8 bil., rough imports -25% to $689.6 mil. Industry mourns the passing of DDC president Jacob Banda and Indian industry pioneer Mahendra “Madhu” Mehta of Jayam Manufacturing.


ANNOUNCEMENTS:

Martin Rapaport Special Presentations in Dubai

State of the Diamond Industry
Wednesday, November 4, 2009 - 11am-1pm
Almas Tower Conference Center

New Realities: Challenges and Opportunities
Thursday, November 5, 2009 - 5:30-7:30pm
Dubai World Trade Center seminar room

RSVP: dubai@diamonds.net
Please state which seminar you will attend

Martin Rapaport will hold a series of personal appointments in Dubai.
To set up an appointment email Pooja@diamonds.net.


----------------------------------------------------


QUOTE OF THE WEEK:

"At the end of the day the diamonds are getting sold and jewelry sales are increasing. [There is some speculative buying] but it's a at more secure level of speculation that what we experienced last year. Bearing in mind Christmas is coming and the market is going on the up, and we had a massive decrease, I would say it's not at risk."

Jeffrey Brenner
Marketing and sales manager
Rockwell Diamonds



RETAIL & WHOLESALE:

Rapaport Weekly Broadcast

See the Annenberg Diamond up close and many of the other top diamond lots from auctions held at Christie's and Sotheby's in New York. Christie's grand total for its fall sale was $46,513,050, with 85 percent sold by lot. The top lot was the Annenberg Diamond, a 32.01-carat, D, flawless emerald-cut diamond flanked by two pear-shaped diamonds weighing 1.61 carats and 1.51 carats, which sold for $7,698,500. Sotheby’s fall sale total was $13,843,100, with 83.5 percent sold by lot, including a pear-shaped, 29.53-carat D-color, potentially flawless, type IIa, diamond ring, which fetched $3,498,500.
Watch now:
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=28363


U.S. Chain Store Sales +3%

Weekly chain store sales across the U.S. rose 2.8 percent from one year ago during the week that ended October 17, 2009, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. The positive reading can be attributed, in part, to this year's comparatively more stable climate, given the sales drops that were registered during the fourth quarter of 2008.


Japan's Sept. Department Store Sales -8%

Department store sales in Japan plunged 7.8 percent on a same-store basis this September, compared with 2008, the largest drop for the month since 1965. Sales for the month totaled $5.2 billion, with September 2009 marking the 19th consecutive month that they declined. Luxury art and jewelry sales plunged 16 percent for the month, while clothing sales decreased by 10.5 percent.


Bain & Co. Forecast Jewelry Sales Declines

Bain & Co.’s eighth “Luxury Goods Worldwide Market” study predicts that global luxury good sales will decline just 8 percent to $229 billion in 2009, as revenue generated from both China and online sales softens the blow from mature markets. The luxury category for jewelry, watches and other luxury items will be hit the hardest in 2009, with Bain & Co. forecasting an 18 percent decrease in the sale of these items.

However, China's luxury sales are projected to increase by 12 percent and Internet sales should jump 20 percent worldwide this year, the group concluded. Sales in the U.S. this year are expected to drop 16 percent from their 2008 level. Bain & Co. predicted declines of 10 percent in Japan and 8 percent in Europe. Emerging markets continue to prosper, with most of the luxury store openings occurring in China, the Middle East and Eastern Europe. Bain & Co. expects sales to increase by 1 percent in 2010. A full recovery is anticipated in 2011, when the industry is expected to grow by 4.2 percent.


LVMH's 3Q Sales Dip

Third-quarter revenue fell 3 percent at LVMH Moët Hennessy Louis Vuitton to $6.17 billion. Jewelry sales took the largest hit in third-quarter 2009, falling 22 percent year on year to $279 million.


Damiani Signs U.S. Deal with Birks & Mayors

Luxury jeweller Casa Damiani will distribute its products in the U.S. through an agreement with Birks & Mayors. The five-year deal is for all Damiani brands.


GENERAL:

AGL Highlights New Acquisitions, Growth

Christopher P. Smith, president of the American Gemological Laboratories (AGL), highlighted recent lab developments during a presentation at AGL’s offices on October 22. He emphasized that AGL is growing and has recently acquired the rights to the former American Gem Trade Association's (AGTA) laboratory report for premium colored stones, known as the “JewelFolio” (TM). AGL has purchased a Raman spectrometer to support its services and help develop additional services. Testing services are also being expanded internationally via on-site testing in Hong Kong, Bangkok and Sri Lanka, as well as in Tucson and Las Vegas for the trade shows based in those two cities. For more information, contact AGL at 212.704.0727.


STATS:

India's Sept. Polished Diamond Exports +11%

The September Hong Kong show helped India’s polished exports grow for the first time this year, with exports rising 11 percent from their 2008 level to $1.76 billion. Polished imports fell 18 percent to $584.9 million and net polished exports, representing the excess of exports over imports, rose 35 percent to $1.2 billion. Rough imports declined 25 percent to $689.56 million, while rough exports grew 1 percent to $73.3 million and net rough imports, or imports less exports, decreased 27 percent to $616.3 million.

India’s September net diamond account, measuring total exports of polished and rough less total imports, grew to $560.4 million, compared with $23.7 million one year ago.


MINING:

ALROSA’s Oct. Sales Amount to $355M

ALROSA reported that it sold $355 million worth of diamonds in October, $255 million of which were sold to the market, with the remainder going to the state depository, Gokhran. The company noted that it has observed a recovery in the rough market.


De Beers' 3Q Rough Production -40%

Anglo American reported interim third quarter rough diamond production for De Beers fell 40 percent to 7.9 million carats. Year-to-date production was 61 percent lower at 14.5 million carats, but De Beers remains on target to end the year with only a 50 percent reduction in rough compared with 2008.


Gem Diamonds' 3Q Sales -9%

Gem Diamonds reported that sales of the rough diamonds recovered from its Letseng and Ellendale mines fell 9 percent to $51.5 million during the third quarter. The company noted that the trend for prices pointed higher during the quarter, “but remained substantially below pre-September 2008 levels.” Production at Letseng in Lesotho dropped 23.3 percent to 23,756 carats during the quarter. Ellendale’s production decreased 67.5 percent to 58,611 carats.


BHP’s 1Q Diamond Production +1%

BHP Billiton reported that diamond production rose 1 percent year on year to 780,000 carats during its first fiscal quarter. The company noted that there was increasingly positive economic news in most countries during the quarter, singling out China as a strong growth center. Unemployment in the U.S., Japan and Europe continues to lag and may trend higher in the near-term.

Econ Watch:
For the week ending October 22, 2009
Oct.22 Oct. 15 Chng.
$1 = Euro 0.666 0.670 -0.004
$1 = Rupee 46.56 46.10 0.5
$1 = Israel Shekel 3.69 3.71 -0.02
$1 = Rand 7.45 7.26 0.19
$1 = Canadian Dollar 1.05 1.03 0.02

Precious Metals
Gold $1,059.70 $1,048.80 $10.90
Platinum $1,366.00 $1,347.00 $19.00

Stock Indexes Chng.
BSE 16,789.74 17,195.20 -405.46 -2.36%
Dow Jones Avg. 10,079.12 10,061.28 17.84 0.18%
FTSE 5,207.36 5,222.95 -15.59 -0.30%
Hang Seng 22,210.52 21,999.08 211.44 0.96%
S & P 500 1,092.76 1,096.11 -3.35 -0.31%
Yahoo! Jewelry Index 1,131.37 1,144.32 -12.95 -1.13%

USA
Birks & Mayors $0.56 $0.58 -$0.02 -3.45%
Blue Nile $64.19 $61.03 $3.16 5.18%
Charles & Colvard $0.58 $0.50 $0.08 15.00%
DGSE Companies, Inc. $1.62 $1.54 $0.08 5.19%
Fuqi International $26.52 $25.78 $0.74 2.87%
JCPenney $36.80 $36.39 $0.41 1.13%
Kohl's $59.93 $60.11 -$0.18 -0.30%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $3.46 $3.40 $0.06 1.76%
Macy's $19.43 $20.06 -$0.63 -3.14%
Man Sang $2.62 $2.65 -$0.03 -1.13%
Movado Group $13.70 $14.59 -$0.89 -6.10%
Nordstrom $34.36 $34.27 $0.09 0.26%
Saks $6.59 $6.49 $0.10 1.54%
Signet $28.20 $28.30 -$0.10 -0.35%
Sotheby's $18.19 $18.85 -$0.66 -3.50%
Tiffany $41.72 $42.02 -$0.30 -0.71%
Wal-Mart $50.52 $50.94 -$0.42 -0.82%
Zale $7.38 $7.62 -$0.24 -3.15%

EUROPE
Bulgari €5.93 €5.95 -€0.02 -0.34%
Bijou Brigitte €115.89 €124.01 -€8.12 -6.55%
Damiani €1.13 €1.12 €0.01 0.89%
LVMH €72.75 €73.36 -€0.61 -0.83%
Pinault P-R SA €80.22 €85.95 -€5.73 -6.67%
Richemont SA CHF 30.38 CHF 30.86 -CHF 0.48 -1.56%
Swatch Group CHF 257.00 CHF 263.75 -CHF 6.75 -2.56%
Theo Fennell (pence) 36.53 33.00 3.53 10.70%

INDIA (rupee)
Classic Diamond 21.95 23.45 -1.50 -6.40%
Gitanjali Gems 124.50 134.30 -9.80 -7.30%
Goldiam Int'l 39.35 34.35 5.00 14.56%
Rajesh Exports 74.05 81.70 -7.65 -9.36%
Ren. Jewellery 48.30 48.35 -0.05 -0.10%
Su-Raj Diamonds 51.05 51.55 -0.50 -0.97%
Titan 1,326.25 1,414.55 -88.30 -6.24%
Zodiac JRD 24.80 22.10 2.70 12.22%
Suashish Diamonds 349.65 351.60 -1.95 -0.55%

NEW ZEALAND
Michael Hill NZD 0.67 NZD 0.69 -NZD 0.02 -2.90%

MINING STOCKS
CANADA
Harry Winston CAD 10.68 CAD 9.60 CAD 1.08 11.25%
Mountain Province CAD 2.99 CAD 2.85 CAD 0.14 4.91%
Peregrine Diamonds CAD 2.79 CAD 2.80 -CAD 0.01 -0.36%
Rockwell Diamonds CAD 0.07 CAD 0.09 -CAD 0.03 -27.78%
Shore Gold CAD 1.01 CAD 1.02 -CAD 0.01 -0.98%
Stornoway Diamond CAD 0.33 CAD 0.25 CAD 0.08 32.00%
True North Gems CAD 0.11 CAD 0.12 -CAD 0.01 -8.33%
UK (pence)
African Diamonds 29.70 30.99 -1.3 -4.16%
Anglo American 2,285.00 2,216.00 69.0 3.11%
BHP Billiton 1,796.00 1,811.50 -15.5 -0.86%
Firestone Diamonds 36.88 35.40 1.5 4.18%
Gem Diamonds 249.80 258.80 -9.0 -3.48%
Gemfields 7.03 6.80 0.2 3.38%
Mwana Africa 14.58 15.25 -0.7 -4.39%
Namakwa Diamonds 39.75 35.50 4.3 11.97%
Petra Diamonds 82.00 69.50 12.5 17.99%
Rio Tinto plc 2,935.00 2,946.00 -11.0 -0.37%


India Market Report:
POLISHED: Much activity is quiet due to Diwali.
Round
-1 point: Good demand: +$100 whites.
Fair demand: $200-$300 OWTTLB/TTLC
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, October 30, 2009


News: Polished prices still stable but trading activity relatively weak as pre-season holiday demand fails to materialize. Small DTC Nov. sight expected ($300 mil.) with De Beers 3Q production -40% to 7.885 mil. cts. Mining companies hold back rough in attempt to maintain price levels. Manufacturers want to buy but can’t afford high rough prices as polished markets stagnate. Rough production expected to increase sharply next year. Zale FY09 sales -17% to $1.8 bil., reports loss of $190 mil. vs. profits of $631K. ALROSA sells gas company for $620 mil. as it aims to reduce bank debt by 23% in 2H to $3.86 bil. NRF survey shows fewer people want jewelry for Christmas gifts (20.8% this year vs. 24.5% in 2008) and average gift spending to be $508 (vs. $535). China's gold jewelry demand +21% in '08, gold investment +176%.


ANNOUNCEMENTS:

Martin Rapaport Special Presentations in Dubai

State of the Diamond Industry
Wednesday, November 4, 2009 - 11am-1pm
Almas Tower Conference Center

New Realities: Challenges and Opportunities
Thursday, November 5, 2009 - 5:30-7:30pm
Dubai World Trade Center seminar room

RSVP: dubai@diamonds.net
Please state which seminar you will attend

Martin Rapaport will hold a series of personal appointments in Dubai.
To set up an appointment email Pooja@diamonds.net.


----------------------------------------------------


QUOTE OF THE WEEK:

"With its unique ability to bring luxury to the region, Sparkle Roll Group is the ideal partner to help us develop and strengthen Boucheron’s presence in China. Our aim is to become the ultimate French jeweler in the region.”

Jean-Christophe Bédos
Boucheron's chief executive


WORLD:

UN Extends Ban on Rough Diamonds from Cote d'Ivoire

The U.N. Security Council extended diamond sanctions another year on Côte d’Ivoire and warned that the divided nation continues to pose a threat to international peace and security for the region. The 15-member Council voted unanimously to ban exports of rough diamonds and to maintain an arms embargo. The Council pledged to review these measures again no later than three months after a free, fair and transparent presidential election is held. Earlier this week a U.N. group of experts found the no effective border controls that was enabling the rough diamond trade, almost seamlessly, into Burkina Faso and Mali. There was additional concern that rough diamonds were being illegally exported through Guinea and Liberia.


RETAIL:

Zale FY09 Revenue -17%, Reports Loss of $190M

Zale Corporation's fiscal year 2009, which closed July 31, recorded a drop in revenue of 16.8 percent to $1.78 billion and a net loss of $189.5 million or $5.94 per share. For fiscal year 2008, Zale's restated revenues were $2.14 billion and the jeweler restated profits at $631,000 or 1-cent per share, down from previously reported $10.8 million. Comparable stores sales for fiscal 2009 fell 17 percent. Zale recorded a 20.8 percent decrease in customer transactions in fine jewelry stores; however the average transaction price increased slightly. Zale had cash and cash equivalents of $25 million at the end of fiscal year 2009 and approximately $136.1 million available under its revolving credit facilities. "We believe that we have sufficient capacity under our revolving credit facilities to meet our financing needs during fiscal 2010," according to its 10-K filing.


U.S. Weekly Chain Store Sales +2%

U.S. weekly chain store sales rose 2.4 percent for the period that ended October 25. The International Council of Shopping Centers (ICSC) and Goldman Sachs, which tracks comparable data, reported that spending rose 0.1 percent from the prior week. ICSC predicts that sales in October will end flat, with a bias toward a very slight increase from one year ago.


Rapaport News Broadcast

U.S. retailers will have to adapt to the "serious bargain hunter" this Christmas sales season as 84 percent of shoppers plan to reduce their spending and cut back on gift-giving compared with 2008. Salary statistics also weigh heavily upon shopping lists, with broad-based income drops apparent from government data due to the recession and unemployment. WATCH


Poor Job Outlook Erodes Consumer Confidence

Consumers gave the U.S. economy a thumbs-down in October as the job market continued to prove unworthy of optimism. The Conference Board's monthly Consumer Confidence Index&reg; improved to 47.7 points, up from a historic low, at the time, of 38.8 points in October 2008. However, this October's reading was lower than the index for the past two months. The record low for the index, which measures consumer sentiment as a barometer of people’s willingness to spend, was 25.3, set in February 2009, and it has been fluctuating between 47 and 55 points for the past seven months.

The very weak labor market played into the grim assessment from the Present Situation Index, which stood at 20.7 points in October, its lowest reading in 26 years, down from 23 points in September. The Expectations Index declined to 65.7 in October from 73.7 in September, according to The Conference Board. Consumers remain quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays.


Boucheron to Establish Network of Stores in China

Boucheron and luxury goods distributor Sparkle Roll Group Limited have partnered to promote the jeweler in China. The two plan to build a network of six to ten Boucheron stores during the next five years. Sparkle Roll Group will take over Boucheron's Shanghai store as part of the expansion deal. The first Boucheron flagship store is planned to debut in Beijing early in 2010.


JA Special Delivery Show Beats Expectations

After a flurry of traffic on the first and second days, the JA NY Special Delivery show, which took place from October 25 to 27 at the Jacob Javits Convention Center, slowed down a bit on its last day as vendors reported better-than-expected traffic. Drew Lawsky, group show director, estimated that the event featured 500 booths and hosted 5,000 visitors over the course of three days. The show was the usual mix of high-end firms and Hong Kong manufacturers, with Italians reporting positive results in getting rid of extra inventory to raise cash for creating new designs. As is always the case at Special Delivery, there were closeout deals for jewelry. Keys remained a pivotal item. The best-selling items were those that would retail for $1,000 or under.


GENERAL:

FTC's Red Flags May Provide Exclusions

The U.S. House of Representatives passed a bill that allows some companies to apply for an exclusion from the Red Flags Rule, which is enforceable as of November 1, 2009. The Red Flags Rule requires businesses to enact an identity theft prevention program. The pending legislation would grant exclusions to the rule if a company knows all of its customers or clients individually or has not experienced incidents of identity theft and if identity theft is rare for businesses of its type. The House bill has now been referred to the Senate for consideration. If approved by the Senate and signed by President Obama, the exclusions will become official. The Jewelers Vigilance Committee (JVC) is monitoring these developments and will be available to assist qualifying companies in preparing their applications for the exclusion, if and when the exclusion provisions do pass. www.jvclegal.org


JVC Trains IRS on Industry Norms

Cecilia L. Gardner, president and chief executive officer (CEO) of the JVC, is training IRS examiners on the complexities of the jewelry industry as the government prepares to examine jewelers’ antimoney laundering (AML) programs. Gardner is educating IRS examiners in the nuances of the jewelry industry, which often involve multiple business models and complex methods of conducting business. Training includes commonly used, legally compliant methods of doing business. The goal is to help examiners understand how the industry thinks and what to expect — and what not to expect — prior to their review of jewelers’ AML programs. As always, JVC welcomes input from industry members on how to advance communication with the IRS.


Plumb Club Appoints Hess

The Plumb Club, an alliance of jewelry, watch and diamonds manufacturers, has appointed Lawrence Hess as its first executive director. In that role, he will be overseeing the construction of a new Plumb Club Pavilion that will debut at JCK Las Vegas in 2010. In the long term, Hess said he will be working to develop new and innovative ways to offer the club's membership added value and that he looks forward to taking on the challenges and responsibilities the role entails. "I consider it an honor and a privilege to work with some of the most successful and influential firms in our industry,” he said.


IN MEMORIAM:

Jacob Banda 1947-2009
Jacob Banda was the incumbent president of the New York Diamond Dealers Club (DDC), having served in that post since 2000.

"Many of us knew Jacob well, having worked with him for many years, and appreciated his commitment. In IDMA, we all valued his work and dedication to the business. We convey our deepest condolences to his wife and family," said Ronnie VanderLinden, secretary-general of the International Diamond Manufacturers Association (IDMA).

"He was a highly professional and experienced member of the world diamond community, and always wanted to know what was happening in the jewelry pipeline and in CIBJO. Jacob was a dear friend, and I know he will be sorely missed by his many friends and colleagues in CIBJO," said CIBJO President Gaetano Cavalieri.

"With the passing of Jacob Banda, the Diamond Dealers Club in particular and the diamond community in general has lost one its most dedicated public servants. We are all poorer for it. Above all, Jacob was an advocate for the DDC membership, and a man who instinctively understood the point of view of the individual. Our hearts go out to his family at this difficult time," said Moshe Mosbacher, DDC acting president.

Mahendra “Madhu” Mehta 1941-2009
Madhu Mehta of Jayam Manufacturing died earlier in October.

“He was a pioneer as far as the Indian industry’s inroads into Antwerp. Apart from being an important trader, he helped many Indian businesses open offices in Antwerp. He was a good human being and wanted the Indian industry to flourish,” said Sanjay Kothari, managing director of the Gem & Jewellery Export Promotion Council (GJEPC).

"Mehta had been one of [the bank’s] earliest clients. First and foremost, he was a gentleman and warm at heart. He was a pioneer of the diamond industry and largely responsible for the growth of the diamond trade between Belgium and India,” said P. N. Prasad, chief executive officer (CEO) of the State Bank of India in Belgium.


STATS:

Armenia's Diamond Exports -67%

Armenia's cut diamond exports fell 67 percent for the January through September period to 60,875 carats. Exports for the same period plummeted to $39.1 million from $109 million one year ago. The country’s 2008 cut diamond exports were down by 13.2 percent from the 2007 totals to 212,000 carats.


MINING:

ALROSA Could Earn $59M in 2009

Yakutia representatives think ALROSA is on target to produce profits of $58.6 million in 2009, given that Moscow has approved the republic's proposals to support the diamond mining company. ALROSA closed 2008 with a net profit of $130 million, based on Russian Accounting Standards (RAS). The projection for 2009 is based upon diamond sales to Gokhran throughout the year and the recent resumption of sales to the market. Rough sales have totaled $1.73 billion so far in 2009.


Econ Watch:
For the week ending October 29, 2009
Oct. 29 Oct. 22 Chng.
$1 = Euro 0.673 0.666 0.007
$1 = Rupee 46.86 46.56 0.3
$1 = Israel Shekel 3.77 3.69 0.08
$1 = Rand 7.82 7.45 0.37
$1 = Canadian Dollar 1.07 1.05 0.02

Precious Metals
Gold $1,047.10 $1,059.70 -$12.60
Platinum $1,337.00 $1,366.00 -$29.00

Stock Indexes Chng.
BSE 16,052.72 16,789.74 -737.02 -4.39%
Dow Jones Avg. 9,962.58 10,079.12 -116.54 -1.16%
FTSE 5,137.72 5,207.36 -69.64 -1.34%
Hang Seng 21,264.99 22,210.52 -945.53 -4.26%
S & P 500 1,066.11 1,092.76 -26.65 -2.44%
Yahoo! Jewelry Index 1,120.68 1,131.37 -10.69 -0.94%

USA
Birks & Mayors $0.59 $0.56 $0.03 5.36%
Blue Nile $62.09 $64.19 -$2.10 -3.27%
Charles & Colvard $0.57 $0.58 -$0.01 -0.87%
DGSE Companies, Inc. $1.52 $1.62 -$0.10 -6.17%
Fuqi International $22.15 $26.52 -$4.37 -16.48%
JCPenney $34.31 $36.80 -$2.49 -6.77%
Kohl's $58.23 $59.93 -$1.70 -2.84%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $3.52 $3.46 $0.06 1.73%
Macy's $18.37 $19.43 -$1.06 -5.46%
Man Sang $2.42 $2.62 -$0.20 -7.63%
Movado Group $10.98 $13.70 -$2.72 -19.85%
Nordstrom $32.17 $34.36 -$2.19 -6.37%
Saks $5.93 $6.59 -$0.66 -10.02%
Signet $25.71 $28.20 -$2.49 -8.83%
Sotheby's $16.34 $18.19 -$1.85 -10.17%
Tiffany $40.80 $41.72 -$0.92 -2.21%
Wal-Mart $50.40 $50.52 -$0.12 -0.24%
Zale $6.39 $7.38 -$0.99 -13.41%

EUROPE
Bulgari €5.86 €5.93 -€0.07 -1.18%
Bijou Brigitte €114.90 €115.89 -€0.99 -0.85%
Damiani €1.09 €1.13 -€0.04 -3.54%
LVMH €71.00 €72.75 -€1.75 -2.41%
Pinault P-R SA €74.66 €80.22 -€5.56 -6.93%
Richemont SA CHF 29.56 CHF 30.38 -CHF 0.82 -2.70%
Swatch Group CHF 244.90 CHF 257.00 -CHF 12.10 -4.71%
Theo Fennell (pence) 49.00 36.53 12.47 34.14%

INDIA (rupee)
Classic Diamond 20.05
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, November 06, 2009


News: U.S. pre-holiday demand weak and problematic as Oct. retail sales come in flat for the majors. Jewelers keep inventories tight and promote competitive discounts to entice early shopping. Gold sets record ($1,099/oz) as dollar remains weak. Stable demand for caraters in Far East with shortages in G-I goods. Demand weakens for 2cts+. Strong domestic Indian demand for melee/stars with shortages in lower qualities. Signet 3Q sales -2.5% to $614 mil. same-store sales -1.9%. Blue Nile 3Q sales +2% to $67 mil. but U.S. sales flat, profits +10% to $2.6 mil. Belgium Oct. polished exports -13% to $786 mil., rough imports +11% to $747 mil. ALROSA narrows FY09 loss 40% to $303 mil. in 3Q. Kimberley Process keeps Zimbabwe and pledges to monitor Marange diamonds. Israel to hold KP chair with DRC as vice chair in 2010.


ANNOUNCEMENTS:

RAPAPORT POLISHED DIAMOND TENDER
November 16–19 -- New York

Large selection of melee, rounds and fancies, -6.5 to 1ct+,
from promotional to very fine qualities. Excellent opportunity
for diamond and jewelry manufacturers to purchase at cash market prices.

By Appointment Only

Contact: Myles Schakler
Email: Tenders@diamonds.net
Phone: 1-212-354-9800


Martin Rapaport Special Presentation in Antwerp

New Realities: Challenges and Opportunities
Wednesday, November 18 at 5:00 PM
The Oppenheimer Room
Antwerp World Diamond Center
Hoveniersstraat 22, Antwerp, Belgium

RSVP Required: Belgium@diamonds.net or +323-232-3300

----------------------------------------------------


QUOTE OF THE WEEK:

"We are dealing with some of our competitors in liquidation mode. In the short-term, we do feel [price] pressure but it's just a short-term phenomena and we get through it ultimately. [A]t the midst and the tail-end of their liquidation sales, they have inventory that's not fresh, the consumers are not seeing exciting new styles. We believe that by differentiating ourselves...with unique programs like our Open Hearts by Jane Seymour and by our LeVian collections, that we have both clearance product plus these new programs."

Mark Light
U.S. division director, CEO
Signet Jewelers Limited


WORLD:

Zimbabwe is Spared

The Kimberley Process (KP) concluded its annual plenary in Namibia on Thursday with the decision to retain Zimbabwe as a member. The Kimberley Process Certification Scheme (KPCS) has adopted a working plan to monitor diamonds mined at the Marange fields in the Chiadzwa region as this area was out of compliance. Zimbabwe's two other mines — River Ranch and Murowe — were found to be compliant. Israel will adopt the position of KP chairman beginning in January 2010, with the Democratic Republic of the Congo (DRC) serving as vice chair.


Gold Sets New Record

Gold set a new record Wednesday, hitting an intraday high of $1,099 an ounce in trading after surging past its previous record high of $1,081 an ounce, which was set Tuesday. Gold held at a level that was 7 percent higher than one month ago and 43 percent higher than one year ago. The jump was, in part, due to continued pressure on the greenback and the India Reserve Bank’s recent $6.9 billion gold purchase.


Belgium’s Oct. Polished Exports -13%

Belgium's polished exports in October fell 13.2 percent to $785.5 million from one year ago. Polished diamond imports fell 21 percent to $764 million, giving Belgium a net export total of $21.5 million, compared with an export deficit of $63 million in October 2008. The country’s rough imports increased 12 percent to $746.8 million, its rough exports increased 9.5 percent to $678.1 million and its net rough imports rose 37 percent to $68.7 million. Belgium's net diamond account —net polished exports less net rough imports — improved 58 percent from one year ago, but remained in a deficit of $47.2 million.


RETAIL:

U.S. Retail Offers Mixed Results

According to data compiled by the International Council of Shopping Centers (ICSC), U.S. comparable-chain-store sales in October fell 2 percent for apparel versus a drop of 11 percent one year ago. Luxury stores posted a gain of 6.3 percent compared with a drop of 19.2 percent in October of 2008. Department store chains were flat versus a drop of 10.9 percent in 2008. Total U.S. comparable-store sales rose 2.1 percent, following a 4.2 percent decline one year ago, while overall retail sales slipped 0.8 percent in October, compared with September.

Third quarter results for the majors came in as follows: Macy's sales fell 4 percent to $5.5 billion, while its same-store sales fell 3.6 percent; J.C. Penney Company sales fell 3.2 percent to $4.2 billion, with comparable-store sales dropping 3.2 percent; Kohl's sales rose 6.5 percent to $4.1 billion, same-store sales decreased 1.3 percent; Saks sales fell 8.9 percent to $622.7 million, with its comparable-store sales declining by 10.1 percent; Nordstrom revenue increased 3.5 percent to $1.87 billion, but its same-store sales decreased 1.2 percent; and Neiman Marcus revenues fell 12 percent to $869 million as its same-store sales declined 13.7 percent. Online retail sales fell 2 percent to $29.6 billion in third quarter.


Signet’s 3Q Sales -3%

Signet Group’s third-quarter sales fell 2.5 percent to $614 million and its same-store sales decreased by 1.9 percent. Sales in the U.S. marketplace, which represent 75 percent of group sales, totaled $459.3 million, with same-store sales down 2.4 percent. Signet’s U.K. sales rose 4.4 percent in local currency, but in dollars, sales fell 4.8 percent to $154.3 million. Same-store sales in the U.K. were flat. The Christmas season sales outlook remains "very uncertain" on both sides of the Atlantic, according to the company.


Blue Nile's 3Q Sales +2%, Profits +10%

Blue Nile's third quarter sales rose 2.4 percent to $66.9 million and profits rose 10.2 percent to $2.6 million. International sales grew 27.5 percent to $8.8 million. Sales for the U.S. operations fell 0.7 percent to $58.1 million. Gross profit improved 180 basis points to 22.1 percent. Blue Nile cited gross margin improvement due largely to better product sourcing in both diamonds and jewelry.


Black Friday '09 Projected to Draw More Shoppers

ICSC and Goldman Sachs expect U.S. consumers to spend an average of approximately $543 on gifts during this year’s Christmas season, as well as another $133 on gift cards. Consumers expect to spend more this year on gift purchases than they did in 2008, but less on gift cards. Black Friday, which falls on November 27, will be more important to shoppers than it was in 2008, with 16 percent of ICSC’s survey respondents expecting to begin their holiday gift shopping that day, compared with only 10 percent in 2008.


U.S. Online Christmas Sales to Reflect Healthy Bump

Online retail sales during the upcoming U.S. holiday season should reach $44.7 billion, which represents a healthy increase of 8 percent from 2008, according to the latest forecast from Forrester Research. Online sales in the U.S. grew only 5 percent in 2008 for the November and December period. This year, retailers will manage to the bottom line, which will change some of the tactics they have employed in the past, such as free, unfettered shipping and prolonged discounts. Consumers can also expect limited shipping options and limited-time sales online.


Rapaport Broadcast

The Everlon Diamond Knot commercial will launch in the U.S. on November 16, which you may view in this broadcast. See how the industry's biggest diamond campaign is already unfolding across the Internet at select online stores. WATCH NOW


Court Dismisses $60M Suit Against Yehuda

Jurors dismissed Blue Nile's $60.1 million claim against The Yehuda Diamond Company, reaffirming Yehuda Diamond's right to compare the prices of its clarity-enhanced diamonds with those of the untreated diamonds sold at bluenile.com. Blue Nile filed the suit to prevent Yehuda Diamond from comparing these prices, but Yehuda Diamond argued that comparisons were in the best interest of consumers.


Gembrooke Opens for Business

Gembrooke opened as a new trading firm based out of Short Hills, New Jersey, and is offering a Solenza Diamond brand to select fine jewelry retailers in the U.S. and Canada. The Solenza brand offers a loose diamond program and a full collection of Solenza Jewelry. The company was founded by Joseph Srodawa, the former managing director for Overseas Diamonds and the isee2 brand in North America.


FTC Delays Red Flags Rule Enforcement

The Federal Trade Commission (FTC) delayed enforcement of the Red Flags Rule until June 1, 2010, which affords jewelers covered by the rule more time to develop their Identity Theft Prevention Programs. Any jeweler that is a “creditor” with “covered accounts,” as those terms are defined by the rule, must develop a program by the new June 1, 2010 deadline. The Jewelers Vigilance Committee (JVC) has created a Red Flags Rule Compliance Kit, which is sponsored by GE Money. For more information, visit www.jvclegal.org.


Zale Shares Slip

Shares in Zale slid by double digits following the release of its earnings report, which discussed its cooperation with a Securities and Exchange Commission (SEC) probe. Zale shares fell 25.98 percent on October 30 to close at $4.73 in New York. Though the jewelry chain’s shares have gained slightly this week, they have traded in a range of $4.84 and $5.27, a decline of 67 percent from one year ago.


MINING:

ALROSA Reduces Debt

ALROSA reduced its fiscal loss in the third quarter to $303 million from $505 million in the second quarter, based upon Russian Accounting Standards. ALROSA predicts that it will close its fiscal year 2009 with a net profit of $58.5 million, down from a net profit of $130.1 million in 2008. Meanwhile, the proceeds from ALROSA's recent $620 million sale of its gas assets were used to pay down debt, enabling the mining giant to reduce it by $1 billion so far in the current quarter.

ECON WATCH:
For the week ending November 5, 2009
Nov. 5 Oct. 29 Chng.
$1 = Euro 0.671 0.673 -0.002
$1 = Rupee 46.94 46.86 0.1
$1 = Israel Shekel 3.78 3.77 0.01
$1 = Rand 7.61 7.82 -0.21
$1 = Canadian Dollar 1.06 1.07 -0.01

Precious Metals
Gold $1,089.80 $1,047.10 $42.70
Platinum $1,355.00 $1,337.00 $18.00

Stock Indexes Chng.
BSE 16,063.90 16,052.72 11.18 0.07%
Dow Jones Avg. 10,006.34 9,962.58 43.76 0.44%
FTSE 5,125.64 5,137.72 -12.08 -0.24%
Hang Seng 21,479.98 21,264.99 214.99 1.01%
S & P 500 1,066.63 1,066.11 0.52 0.05%
Yahoo! Jewelry Index 1,124.83 1,120.68 4.15 0.37%

USA
Birks & Mayors $0.57 $0.59 -$0.02 -3.39%
Blue Nile $58.62 $62.09 -$3.47 -5.59%
Charles & Colvard $0.58 $0.57 $0.01 1.75%
DGSE Companies, Inc. $1.70 $1.52 $0.18 11.84%
Fuqi International $21.27 $22.15 -$0.88 -3.97%
JCPenney $30.28 $34.31 -$4.03 -11.75%
Kohl's $55.91 $58.23 -$2.32 -3.98%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $3.15 $3.52 -$0.37 -10.51%
Macy's $18.03 $18.37 -$0.34 -1.85%
Man Sang $2.60 $2.42 $0.18 7.44%
Movado Group $11.28 $10.98 $0.30 2.73%
Nordstrom $33.91 $32.17 $1.74 5.41%
Saks $5.90 $5.93 -$0.03 -0.51%
Signet $26.69 $25.71 $0.98 3.81%
Sotheby's $18.15 $16.34 $1.81 11.08%
Tiffany $41.27 $40.80 $0.47 1.15%
Wal-Mart $51.24 $50.40 $0.84 1.67%
Zale $4.88 $6.39 -$1.51 -23.63%

EUROPE
Bulgari €5.85 €5.86 -€0.01 -0.17%
Bijou Brigitte €117.00 €114.90 €2.10 1.83%
Damiani €1.09 €1.09 €0.00 0.00%
LVMH €71.32 €71.00 €0.32 0.45%
Pinault P-R SA €79.01 €74.66 €4.35 5.83%
Richemont SA CHF 29.34 CHF 29.56 -CHF 0.22 -0.74%
Swatch Group CHF 249.80 CHF 244.90 CHF 4.90 2.00%
Theo Fennell (pence) 49.50 49.00 0.50 1.02%

INDIA (rupee)
Classic Diamond 20.35 20.05 0.30 1.50%
Gitanjali Gems 112.05 113.80 -1.75 -1.54%
Goldiam Int'l 34.35 36.15 -1.80 -4.98%
Rajesh Exports 77.05 75.65 1.40 1.85%
Ren. Jewellery 40.65 43.20 -2.55 -5.90%
Su-Raj Diamonds 45.70 44.20 1.50 3.39%
Titan 1,271.50 1,230.60 40.90 3.32%
Zodiac JRD 23.75 25.20 -1.45 -5.75%
Suashish Diamonds 306.45 327.70 -21.25 -6.48%

NEW ZEALAND
Michael Hill NZD 0.66 NZD 0.65 NZD 0.01 1.54%

MINING STOCKS
CANADA
Harry Winston CAD 9.65 CAD 9.59 CAD 0.06 0.63%
Mountain Province CAD 2.91 CAD 3.07 -CAD 0.16 -5.21%
Peregrine Diamonds CAD 2.25 CAD 2.37 -CAD 0.12 -5.06%
Rockwell Diamonds CAD 0.07 CAD 0.07 CAD 0.00 0.00%
Shore Gold CAD 0.83 CAD 0.88 -CAD 0.05 -5.68%
Stornoway Diamond CAD 0.33 CAD 0.31 CAD 0.02 6.45%
True North Gems CAD 0.09 CAD 0.10 -CAD 0.01 -10.00%
UK (pence)
African Diamonds 35.50 30.60 4.9 16.01%
Anglo American 2,344.00 2,300.00 44.0 1.91%
BHP Billiton 1,690.00 1,720.00 -30.0 -1.74%
Firestone Diamonds 32.35 31.30 1.1 3.35%
Gem Diamonds 245.00 241.20 3.8 1.58%
Gemfields 6.50 6.89 -0.4 -5.66%
Mwana Africa 13.38 12.50 0.9 7.04%
Namakwa Diamonds 34.01 35.50 -1.5 -4.20%
Petra Diamonds 70.50 73.75 -3.3 -4.41%
Rio Tinto plc 2,884.11 2,786.00 98.1 3.52%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
[img] [/ img]

Dobéééééééééé...... :lol:

Obrázky:

Obrázek vložený uživatelem[/img]
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, November 27, 2009


News: Heavy retail discounts expected as Christmas shopping begins. Weaker than expected 3Q consumer spending causes U.S. to revise GPD growth down to +2.8%. Improved trading for 1-3 ct. top quality certs. Consumer confidence remains weak but steady. Weakening dollar boosts gold to new record ($1,196/oz.) with 3Q demand for gold jewelry -30%. Debswana to invest $500m. to extend Jwaneng mine life. ALROSA Nov. sales $388m. Tiffany 3Q sales -3% to $598m., with U.S. sales -9%, Asia Pacific +10% and Europe +12%, net profit flat at $43m. Signet 3Q sales -3% to $614m., net loss of $7m. vs. net loss of $15m. a year earlier. Zale Corp. 1Q sales -10% to $329m., net loss of $58m., vs. net loss of $48m. a year earlier. Gitanjali Gems 2Q sales +36% to $378m., net profits +8% to $11m.

ANNOUNCEMENTS:

RAPAPORT NEW YORK POLISHED DIAMOND TENDER
December 7-10

Over 40,000 cts of melee, rounds and fancies, -2.5 sieve to 0.33 ct+,
from promotional to very fine qualities. Excellent opportunity
for diamond and jewelry manufacturers to purchase diamonds at cash market prices.

By Appointment Only
Contact: Kathryn Langner
Email: Tenders@diamonds.net
Phone: 1-212-354-9800

---------------------------------------


QUOTE OF THE WEEK:

"Jewelers are the first to get hurt and the last better. You can't eat [jewelry], you can't drive it and you can't put it in your gas tank. We've seen about a 40 percent drop in business, then our 'super clients,' as we call them — movie stars or wealthy business owners — and that has dropped by 85 or 90 percent. They just stopped buying big items, which can be anything from $20,000 to well over $100,000, and that business just disappeared, which has been a big deal for us. A lot of people had the attitude 'I don't want people to see me upgrading my jewelry when people are out of work and suffering,' and I think that may be fading, though."

Tim Branscomb
Sierra~West Jewelers
Orem, Utah


RETAIL:

Tiffany 3Q Sales -3%, Profit Flat

Tiffany & Co. reported a 2.9 percent drop in worldwide sales for its third quarter at $598.2 million. Net earnings were flat at $43.3 million. U.S. sales fell 9 percent, while sales across Asia-Pacific rose 10 percent and Europe reported a 12 percent increase. Comparable store sales company-wide fell 3 percent, led by a 10 percent drop in the U.S. Same-store sales rose 5 percent in Asia-Pacific and 6 percent in Europe. Sales at Tiffany's New York flagship store declined 8 percent. Tiffany reduced purchases of rough diamonds in response to soft consumer demand for polished goods. The cost of sales rose 0.5 percent to $270.4 million.


Zale 1Q Sales -10%, Widens Losses

Zale's revenues fell 9.6 percent to $329.2 million during the first quarter of fiscal 2010 and same-store sales dropped 6.8 percent, compared with a same-store sales decline of 3.7 percent one year ago. Zale reported a loss of $57.6 million, an increase from a loss of $48.4 million.

Zale closed 209 stores in the past 12 months. Inventory as of October 31 was $902 million, a decrease of approximately $100 million from October 2008. Zale had an outstanding debt of $466 million at the close of the quarter, compared with the $369 million debt recorded one year ago. Zale expects to continue reducing operating costs over the next 12 months, according to chief financial officer (CFO) Matt Appel.


Signet 3Q Sales -3%, Narrows Losses

Signet Group's sales fell 2.5 percent to $613.7 million during its third fiscal quarter, while its same-store sales declined 1.9 percent; led by a 2.4 percent drop in the U.S. Signet reported a loss of $7 million, an improvement from the $15.1 million loss one year ago. Signet's U.S. sales fell 1.7 percent to $459.3 million, with its average selling price down 3.2 percent at its mall brand stores and 7.7 percent at its Jared stores. In the U.K., the retailer's sales rose 4.5 percent based upon constant exchange rates, but in dollars, they dipped 4.7 percent to $154.4 million. Comparable-store sales in the U.K. were flat. Diamonds performed well at both Ernest Jones and H.Samuel, with the average selling prices rising 12 percent and 9.6 percent, respectively.

The retailer reduced its capital expenditure by half to approximately $55 million during the third quarter and revised its debt reduction plan to range between $300 million to $350 million, up from its original estimate of $175 million to $225 million. Signet's net debt was $160.7 million, down from the $577.8 million net debt it posted one year ago.


ShopNBC Jewelry Sales Drop

Third-quarter sales at ShopNBC fell 4.3 percent to $119.4 million. Watches, coins and collectibles replaced jewelry as the top-selling category, representing 33 percent of the product mix. Jewelry sales represented 26 percent of the mix, down from 33 percent one year ago. The average price point for all products fell to $95 from $187 one year ago. ShopNBC narrowed its return rate to 21.9 percent from 29.2 percent one year earlier. The retailer also added 58 new show titles during the third quarter, including one featuring Suzanne Somers jewelry and another titled "Brilliante Purely Platinum."


U.S. Weekly Chain Store Sales +3%

U.S. weekly chain-store sales rose by 3.3 percent year on year for the week that ended November 21, 2009, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. The week's comparable-store sales increase reflected an easy year-on-year comparison, given the 0.8 percent drop recorded one year ago. Sales were flat compared with the previous week.


Su-Raj 2Q Sales +35%

Su-Raj Diamonds' sales rose 35 percent to $157 million in the second fiscal quarter with diamonds sales increasing 35 percent to $43.2 million and jewelry sales growing 36 percent to $113.9 million. Net profits increased 41 percent to $2.9 million.


Asian Star 2Q Sales -13%

Asian Star's sales fell 13 percent to $70.6 million in the second fiscal quarter as diamond sales decreased 14 percent to $69 million and jewelry sales rose 35 percent to $5.1 million. Intersegment sales amounted to $3.5 million. Net profits dropped 7 percent to $2.2 million.


Suashish 2Q Sales +23%

Suashish Diamonds' sales rose 23 percent to $76.6 million in its second fiscal quarter and posted a net profit of $2.5 million, compared with a net loss of $6.3 million one year ago.


Titan 2Q Jewelry Sales +9%

Titan Industries’ jewelry sales rose 9 percent to $177.3 million in second fiscal quarter, while its watch sales fell 3 percent to $63.7 million. The group's net profits fell 12 percent to $16.7 million.


Gitanjali 2Q Sales +36%

Gitanjali Gems' sales rose 36 percent to $377.5 million during its second fiscal quarter. The manufacturer and retailer's diamond revenues increased 26 percent $195.6 million, while jewelry revenues grew 31 percent to $202.9 million. Its intersegment sales amounted to $21.1 million. Revenues at Gitanjali’s India operations grew 62 percent, while in the rest of the world sales rose 22 percent.


Rapaport Broadcast

Are you ready for the changing demographics in the United States? Industry consultant Hedda Schupak explains these changes and what steps manufacturers and retailers should be taking to grow the business. WATCH NOW.


ECONOMY:

Shopping Lists Have Less Jewelry

Fewer consumers — just 11 percent — plan to buy jewelry as a Christmas gift this year, according to a recent pre-holiday study conducted by the Jewelry Consumer Opinion Council (JCOC), compared with 14 percent of respondents from its 2008 study. Of those buying jewelry, 50 percent said they will spend about the same amount as they had in 2008, but the approximate average amount they will spend was lower than in 2008.

Another recent survey from the National Retail Federation (NRF) and BIGresearch found that 20.8 percent of shoppers wanted jewelry for Christmas, as opposed to approximately 24.5 percent in 2008.


Consumer Confidence Steadies

The Conference Board Consumer Confidence Index&reg; for the U.S. improved slightly for the month of November at 49.5 points, up from 44.7 points one year ago. The Index stood at 48.7 points in October 2009. The Present Situation Index, however, plummeted to 21 points this November, compared with 42.3 points in November 2008. The Expectations Index registered a gain of 22.3 points from one year ago at 68.5 points. Slightly fewer consumers expected employment and business conditions to worsen. Income expectations however remained pessimistic and consumers are entering the holiday season in a very frugal mood.


Many Factors Weigh on Spending Predictions

November's overall sales performance relies heavily on the cash-register sales generated on November 27, which is Black Friday or "Bargain Friday," as it is being referred to this year by ICSC given the heavy discounts expected. ICSC Research expects that day and that subsequent Saturday to be very strong, which should boost November chain store sales up 4 percent to 6 percent as easy year-over-year comparisons will dominate results. Sales in November 2008 fell almost 8 percent.

ICSC predicts that 26 percent of U.S. households will shop on Black Friday. Retail bargains could attract 134 million shoppers to stores between November 27 and 29, according to BIGresearch for the National Retail Federation (NRF), a higher count than the 128 million people who planned to shop on Thanksgiving weekend 2008. Fifty-seven million people said that they will definitely hit the stores this weekend, while another 77 million are waiting to see what retailers are planning before heading out the door. Discount and department stores will be the biggest attractions for consumers this coming weekend, with 66.3 percent and 62.4 percent, respectively, planning on heading to their favorite big box store.

The Conference Board found that, on average, U.S. households will spend $390 on Christmas gifts this year, a 6.7 percent drop from 2008. The average projected spending per household was quite lower than an earlier survey taken by the NRF in which average spending on gifts was projected to be about $508.

Only 8 percent of shoppers expected to spend more than $1,000 on Christmas gifts, according to The Conference Board's findings. Approximately thirty percent of the respondents said they planned to spend between $400 and $999, while 42 percent planned to spend between $100 and $399. Twenty-two percent stated that they will spend less than $100. Households with income of more than $50,000 expected to spend, on average, $514 on Christmas gifts, while those with incomes ranging from $35,000 to $50,000 planned to spend an average of $343.

A lot more shoppers are feeling stressed by debt with 93 percent saying they'll spend less or about the same as 2008, according to an Associated Press-GfK poll. About 20 percent say they are suffering from debt-related stress, up from 15 percent in the spring. Most people — 80 percent — say they'll use mostly cash to pay for their holiday shopping and that generally means buying less.

"Cash serves as a very direct governing force upon spending," says Dr. Alan Hilfer, director of psychology at Maimonides Medical Center in Brooklyn, New York. "If you have $100 in your pocket and that's all you can spend, you'll look around and make a decision based on the amount of money you have." Credit cards, on the other hand, allow people to make more impulse purchases.

Looking into next year, consumers won't be in much of a mood to go on a shopping spree because of high unemployment and hard-to-get credit, according to the National Association for Business Economics (NABE). Consumer spending will rise a lackluster 2 percent next year, one of the forces restraining the strength of the recovery, NABE forecasters said. Such spending fell 0.2 percent in 2008. Unemployment, now at 10.2 percent, will average 9.8 percent next year, they said.


MINING:

ALROSA Sales Net $388M

ALROSA sold $388 million worth of diamonds in November and noted a significant increase in the demand for rough. The upward trend was due to deficits in pipeline from first half production closures. ALROSA sold $327 million of rough to the market, with the remainder going to the state diamond depository, Gokhran. Company's sales for the year to date have amounted to approximately $2.42 billion.

ALROSA redeemed three tranches of euro commercial paper (ECP) totaling $232 million in November. ALROSA has been borrowing heavily to finance the construction of three deep mines at a cost of approximately $1 billion each. Its net debt was approximately $5 billion at the end of July, but plans to reduce its debt to $3.2 billion by the end of 2010, the company's president, Fyodor Andreyev, has said. The company could, depending upon market conditions, issue between $347.2 million and $1 billion in bonds in December or the start of 2010.


Debswana Approves Jwaneng Expansion

Debswana estimated that it would spend $3 billion during the next 15 years extending the life of its Jwaneng diamond mine. The expansion project, which De Beers and Botswana called Cut 8, would give Debswana access to 95 million carats of rough. Debswana will invest $500 million in capital expenditure and taking into account all project stages, including feasibility, design, implementation and mining operations, as well as the cost of the plant and equipment. Cut 8 will ensure profitable and continuous production at the mine until at least 2025. At present, Jwaneng contributes approximately 70 percent of Debswana’s total revenue.


ECON WATCH:
For the week ending November 26, 2009
Nov. 26 Nov. 19 Chng.
$1 = Euro 0.667 0.673 -0.006
$1 = Rupee 46.63 46.69 -0.1
$1 = Israel Shekel 3.75 3.80 -0.05
$1 = Rand 7.37 7.53 -0.16
$1 = Canadian Dollar 1.05 1.07 -0.02

Precious Metals
Gold $1,189.90 $1,144.30 $45.60
Platinum $1,452.00 $1,439.00 $13.00

Stock Indexes Chng.
BSE 16,854.93 16,785.65 69.28 0.41%
Dow Jones Avg. 10,464.40 10,332.44 131.96 1.28%
FTSE 5,194.13 5,267.70 -73.57 -1.40%
Hang Seng 22,210.41 22,643.16 -432.75 -1.91%
S & P 500 1,110.63 1,094.90 15.73 1.44%
Yahoo! Jewelry Index 1,191.77 1,120.52 71.25 6.36%

USA
Birks & Mayors $0.60 $0.61 -$0.01 -1.64%
Blue Nile $57.61 $57.28 $0.33 0.58%
Charles & Colvard $1.25 $1.08 $0.17 15.74%
DGSE Companies, Inc. $1.35 $1.25 $0.10 8.00%
Fuqi International $22.00 $20.18 $1.82 9.02%
JCPenney $30.64 $29.48 $1.16 3.93%
Kohl's $55.54 $54.32 $1.22 2.25%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $3.23 $3.26 -$0.03 -0.92%
Macy's $17.56 $17.37 $0.19 1.09%
Man Sang $2.76 $2.73 $0.03 1.10%
Movado Group $10.54 $10.55 -$0.01 -0.09%
Nordstrom $34.83 $34.16 $0.67 1.96%
Saks $6.74 $6.67 $0.07 1.05%
Signet $26.37 $27.57 -$1.20 -4.35%
Sotheby's $19.98 $19.67 $0.31 1.58%
Tiffany $43.89 $41.16 $2.73 6.63%
Walmart $54.96 $54.57 $0.39 0.71%
Zale $5.26 $4.60 $0.66 14.35%

EUROPE
Bulgari €6.03 €6.10 -€0.07 -1.15%
Bijou Brigitte €120.00 €121.10 -€1.10 -0.91%
Damiani €1.01 €1.04 -€0.03 -2.88%
LVMH €70.48 €75.90 -€5.42 -7.14%
Pinault P-R SA €80.72 €82.13 -€1.41 -1.72%
Richemont SA CHF 32.83 CHF 32.21 CHF 0.62 1.92%
Swatch Group CHF 252.50 CHF 255.90 -CHF 3.40 -1.33%
Theo Fennell (pence) 50.00 49.00 1.00 2.04%

INDIA (rupee)
Classic Diamond 21.80 22.30 -0.50 -2.24%
Gitanjali Gems 115.70 116.20 -0.50 -0.43%
Goldiam Int'l 35.00 35.40 -0.40 -1.13%
Rajesh Exports 77.60 81.20 -3.60 -4.43%
Ren. Jewellery 49.20 45.65 3.55 7.78%
Su-Raj Diamonds 45.80 47.60 -1.80 -3.78%
Titan 1,280.70 1,402.95 -122.25 -8.71%
Zodiac JRD 23.05 24.50 -1.45 -5.92%
Suashish Diamonds 323.10 334.55 -11.45 -3.42%

NEW ZEALAND
Michael Hill NZD 0.62 NZD 0.62 NZD 0.00 0.00%

MINING STOCKS
CANADA
Harry Winston CAD 10.13 CAD 10.55 -CAD 0.42 -3.98%
Lucara Diamond CAD 1.11 CAD 1.13 -CAD 0.02 -1.77%
Mountain Province CAD 2.58 CAD 2.80 -CAD 0.22 -7.86%
Peregrine Diamonds CAD 1.55 CAD 1.71 -CAD 0.16 -9.36%
Rockwell Diamonds CAD 0.06 CAD 0.06 CAD 0.00 0.00%
Shore Gold CAD 0.91 CAD 0.76 CAD 0.15 19.74%
Stornoway Diamond CAD 0.25 CAD 0.28 -CAD 0.03 -10.71%
True North Gems CAD 0.10 CAD 0.09 CAD 0.01 11.11%
UK (pence)
African Diamonds 40.00 45.00 -5.0 -11.11%
Anglo American 2,563.00 2,527.00 36.0 1.42%
BHP Billiton 1,834.50 1,826.50 8.0 0.44%
Firestone Diamonds 30.25 31.50 -1.3 -3.97%
Gem Diamonds 207.10 231.50 -24.4 -10.54%
Gemfields 6.14 6.03 0.1 1.82%
Mwana Africa 14.34 15.50 -1.2 -7.48%
Namakwa Diamonds 30.89 33.47 -2.6 -7.71%
Petra Diamonds 59.28 70.25 -11.0 -15.62%
Rio Tinto plc 2,994.50 3,217.00 -222.5 -6.92%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Trade.
Friday, December 04, 2009


News: Bargain hunting dominated Black Friday as retailers competed to attract spending-conscious shoppers. Traffic down slightly, price points down. Sales flat with strong online growth where average ticket for jewelry +25% on Friday and +14% on Cyber Monday. Gold hits record $1,226/oz. Cutting centers stable but below expectations for the season. De Beers shareholders agree to $1b. investment as the company seeks to lower debt. Christie’s Hong Kong sells $48m. (89% sold by lot) with cushion shape, 5 ct. vivid pink ring going for record $10.8m. ($2.2m/ct). Petra Diamonds sells 168 ct. white rough diamond for $6.28m. ($38k/ct). Japan’s Oct. diamond imports -11% to $66.4m.

ANNOUNCEMENTS:

RAPAPORT NEW YORK POLISHED DIAMOND TENDER
December 7-10

Over 40,000 carats of polished round and fancy diamonds
ranging in size from -2 sieve plate to 1ct +. Qualities
vary from promotional to very fine. Excellent buying
opportunity for diamond and jewelry manufacturers.

By Appointment Only
Contact: Kathryn Langner
Email: Tenders@diamonds.net
Phone: 1-212-354-9800

---------------------------------------


QUOTE OF THE WEEK:

"BJ's is working on some new prototype fixturing and elements within the fixturing. There will be more attractive lighting. But we feel [that jewelry] is a signature business and when the economy rebounds, that will rebound as well. I think the club members find [jewelry] fun and exciting and it signals that we're a quality house with 14-karat gold jewelry and diamonds and so on. The [counter] footprint will probably be smaller because some of the old octagons we have are pretty unproductive for us. We're not walking away from jewelry in any manner."

Laura Sen
President & CEO
BJ's Wholesale Club



WORLD:

Rapaport Broadcast

See the 5-carat vivid pink diamond ring that sold for $10,776,660; a round, 16.99-carat, D, flawless diamond that sold for $2,916,567; and a 9.03-carat, fancy yellow diamond ring that sold for $1,537,355 during Christie's Hong Kong jewels sale this week. The broadcast also wraps up retail and jewelry sales activity for the Thanksgiving weekend and Cyber Monday. Store traffic was mixed, depending upon which group tracked the numbers, but average individual spending rates remained under pressure. Internet jewelry sales performed better than most categories. WATCH NOW!


RETAIL:

U.S. Chain-Store Sales Drop in Nov.

November's comparable store sales at the nation's retail chains fell 0.3 percent, which was considerably worse than expected. Earlier in November, the International Council of Shopping Centers (ICSC) and Goldman Sachs projected a 6 percent to 8 percent increase, which would have somewhat offset the 7.7 percent sales decline that occurred during November 2008. Fewer shoppers completed their Christmas gift buying during the Thanksgiving week and therefore, ICSC expects this factor to boost December sales.

Here are the numbers for November:

Macy's same-store sales fell 6.1 percent and total sales fell 6.3 percent to $2.2 billion. Kohl's same-store sales rose 3.3 percent and total sales rose 7.1 percent to $1.9 billion. JCPenney same-store sales fell 5.9 percent and total sales fell 5.2 percent to $1.7 billion. Nordstrom same-store sales rose 2.2 percent and total sales rose 5.9 percent to $749 million. Neiman Marcus same-store sales fell 7.5 percent and total sales fell 5.9 percent to $305 million. Saks same-store sales fell 26.1 percent, total sales fell 25 percent to $245.1 million.

Costco Wholesale same-store sales rose 6 percent and total sales rose 8.8 percent to $6 billion. BJ's Wholesale same-store sales rose 1 percent and total sales rose 6.4 percent to $833.6 million

Retail Metrics called November's numbers “a giant miss” for the retail industry.


SpendingPulse Reports 5% Increase in Jewelry Sales

Jewelry sales posted a 4.6 increase in November compared with one year ago, which marked the third consecutive monthly increase for this category, according to SpendingPulse, a macroeconomic report from MasterCard Advisors that tracks national retail sales. The group concluded that overall spending results were mixed as the U.S. Christmas shopping season commenced. Black Friday doorbuster discounts were effective, but comparisons were difficult, given that there were also improved sales on Black Friday 2008. Online activity continued to show strong growth, with sales of all merchandise increasing 12.3 percent in November.


Finlay Sells $98M of Merchandise Since Aug.

Since filing Chapter 11 bankruptcy on August 5, 2009, Finlay Enterprises has sold $97.5 million in inventory, according to its latest monthly operating report, which was filed with the U.S. Bankruptcy Court in New York. Since filing for bankruptcy, Finlay has recorded a net loss of $109.4 million. The company's total assets and liabilities as of October 31, 2009 were $172.4 million, down from $287.3 million on August 5.


Invitation to Bid for Henry Dunay Designs Inventory

Those interested in bidding for inventory of Henry Dunay Designs Inc. have until December 15 to submit a final and best offer. A court-sanctioned auction will be held on the following day. Surya Capital had already proposed a bid of $3,405,000 in cash at closing. Interested parties should contact Henry Dunay Designs’ counsel, Jay L. Silverberg, Esq. of Sills Cummis & Gross P.C. at 212.643.7000.


DIAMOND STATS:

Japan's Oct. Diamond Imports -11%

Japan’s polished diamond imports fell 11.4 percent to $66.4 million in October. Polished imports from Belgium dropped 47.9 percent to $11.1 million, while those from India fell 28.4 percent to $27.1 million. Polished imports from Israel declined 32 percent to $4.6 million. Japan increased its polished imports from Hong Kong by 49 percent to $6.8 million and from Thailand by 11 percent to $3.7 million.


INDUSTRY:

Botswana Pushes Creation of Diamond-Trading Market

Akolang Tombale, whose official title is coordinator of Botswana’s Diamond Hub project, stressed the need for Botswana to ensure that its diamond legacy stretches beyond the realm of mining. He said that Botswana’s current need is to venture into the downstream diamond industry without presenting Gaborone as a threat to any of the established trading centers.

Despite the economic downturn, Botswana has already seen significant progress and investment in developing the downstream diamond industry. De Beers, which celebrated 40 years of partnership with the country this year, set up its main sorting facility in Gaborone in March 2008 and established the Diamond Trading Company Botswana (DTCB) to supply diamonds to 16 manufacturers there. To date, 15 factories are up and running, with the most recent to launch soon. In addition, under the guidance of DTCB sightholder Safdico, the Diamond Technology Park was launched in January 2009 and is being billed as the central hub of Botswana’s diamond-cutting industry.

The time is right to take the next step in building this hub by encouraging third-party trading within the country. “The idea is to have a window that we can take some part of our production and market it through the platform,” Tombale said. “Secondly, we need to encourage people who are marketing and trading secondary diamonds to set up some of their operations in Botswana.”

Botswana is planning to host rough diamond tenders of stones from Debswana and other new mines and to create a facility for third parties to host tenders. Tombale said he hopes the new diamond-trading platform will be in place by the end of 2010, allowing others to trade in the country, while the independent marketing of Botswana diamonds will probably come in 2011.

Botswana tenders should not work against the De Beers format, but rather complement it, though Tombale added that he believes the market will continue to move further away from the “cartel mentality,” whereby “we all need to learn that there is no longer one individual that sets the price benchmark.”


MINING:

Shareholders Agree to Invest $1B in De Beers

De Beers shareholders agreed in principle to invest up to $1 billion in the firm in order to reduce the level of debt it will need to undertake for refinancing. The investment would be made through a rights issue and if it is executed, it will be split proportionally between the three shareholders: Anglo American, which holds a 45 percent stake in De Beers, the Oppenheimer family, which has a 40 percent share, and the government of Botswana, with 15 percent. De Beers is negotiating with banks to renew a $1.5 billion loan facility that is due in March. De Beers reported a debt of $4.06 billion in the interim financial report it issued in June.


Petra Raises $120M and Sells 168-Ct. Stone

Petra Diamonds raised $120 million through a share placement. The funds will be used to repay $24.6 million of an $80 million loan from Al Rajhi Holding as part of the option to increase Petra’s holding in the Cullinan mine to 74 percent. The rest of the proceeds will be used for working capital.

This past week, Petra sold a 168-carat special white diamond for $6.28 million or approximately $37,380 per carat. This rough diamond was of exceptional color and quality and was recovered along with three other special stones: a 507.55-carat, a 58.50-carat and a 53.30-carat stone. The two smaller diamonds were sold for $2.8 million, but the 507.55-carat diamond has not yet been offered for sale.


Rockwell Diamonds to Raise $12M

Rockwell Diamonds plans to raise $12 million through a fair rights offering and private placement. Of 67 million shares in the fair rights offering, 47.5 million have already been guaranteed by Daboll Consultants Limited, which is associated with the Steinmetz Diamond Group. Rockwell also plans a private placement of an additional 140 million shares and Godia Capital Partners GP Limited of China has already subscribed for a minimum of 47.5 million shares. Both Godia and Daboll have placed their subscription funds into escrow.

In a separate development, Rockwell reported that the average sales price achieved for rough in November had risen 20 percent since dropping to a low point in July. The average price per carat at tender in November was $1,434. Rockwell did not provide the total value of the sale. The company reported that demand for rough in the 1-carat to 10-carat range remained strong.


Lucara to Raise $96M

Lucara plans to raise $95.1 million through a private placement of shares and use these funds to realize commitments related to the AK6 diamond project, which it recently acquired from De Beers. The placement is expected to close by December 16, 2009.


Zimbabwe’s Military Elite Maintains Control of Marange Fields

Key investors in Canadile and New Reclamation Group, the two firms selected to work Zimbabwe's Marange fields, are part of the nation's elite military class and have positioned themselves to profit from the mine and to increase their political power. The Sunday Times of London reported that mines minister Obert Mpofu, who allegedly awarded the contracts without the knowledge or approval of Prime Minister Morgan Tsvangarai, acted in direct contravention of a High Court order that awarded the Marange claims to African Consolidated Resources (ACR).

One director listed with Canadile is Lovemore Kurotwe, who commanded a battalion that massacred civilians at Entumbane near Bulawayo, shortly after President Robert Mugabe came into power in the wake of Zimbabwe obtaining independence. Kurotwe reportedly has an Israeli partner who has been in jail in Angola for smuggling.

Robert Mhlanga is allegedly involved with New Reclamation. Mhlanga is said to have reaped a fortune through various projects in Africa and was active in the Democratic Republic of the Congo's diamond trade. He was also a key witness in an attempt to frame then-opposition leader Tsvangirai for treason in 2003, testifying that he had contact with an Israeli spy who claimed he was hired by Tsvangarai to kill Mugabe.

Another issue covered by the Sunday Times was that Zimbabwe plans to convert the Harare domestic air terminal into a diamond-cutting center, which would enable the country to cut and polish rough and then ship these goods out in order to avoid Kimberley Process (KP) checks.

Zimbabwe is willing to engage ACR in order to resolve the Marange ownership dispute, according to deputy mines minister Murisi Zwizwai. He said the issue must be solved to benefit everyone. Meanwhile, the Center for Research and Development in Mutare stated that despite the government's agreement to pull the military out of the Marange, based upon a work plan agreement with the KP, this action has been ignored. Center director Farai Maguwu told VOA Studio 7 that soldiers had only vacated the claims being worked by New Reclamation partner Mbada Diamonds and Canadile.

ECON WATCH:
For the week ending December 3, 2009
Dec. 3 Nov. 26 Chng.
$1 = Euro 0.662 0.667 -0.005
$1 = Rupee 46.10 46.63 -0.5
$1 = Israel Shekel 3.77 3.75 0.02
$1 = Rand 7.34 7.37 -0.03
$1 = Canadian Dollar 1.05 1.05 0.00

Precious Metals
Gold $1,210.05 $1,189.90 $20.15
Platinum $1,487.00 $1,452.00 $35.00

Stock Indexes Chng.
BSE 17,185.68 16,854.93 330.75 1.96%
Dow Jones Avg. 10,352.17 10,464.40 -112.23 -1.07%
FTSE 5,313.00 5,194.13 118.87 2.29%
Hang Seng 22,553.87 22,210.41 343.46 1.55%
S & P 500 1,098.74 1,110.63 -11.89 -1.07%
Yahoo! Jewelry Index 1,155.07 1,191.77 -36.70 -3.08%

USA
Birks & Mayors $0.70 $0.60 $0.10 16.67%
Blue Nile $58.70 $57.61 $1.09 1.89%
Charles & Colvard $1.31 $1.25 $0.06 4.80%
DGSE Companies, Inc. $1.31 $1.35 -$0.04 -2.96%
Fuqi International $20.47 $22.00 -$1.53 -6.95%
JCPenney $28.44 $30.64 -$2.20 -7.18%
Kohl's $54.17 $55.54 -$1.37 -2.47%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $3.30 $3.23 $0.07 2.17%
Macy's $15.86 $17.56 -$1.70 -9.68%
Man Sang $2.68 $2.76 -$0.08 -2.90%
Movado Group $10.40 $10.54 -$0.14 -1.33%
Nordstrom $35.15 $34.83 $0.32 0.92%
Saks $5.96 $6.74 -$0.78 -11.57%
Signet $26.28 $26.37 -$0.09 -0.34%
Sotheby's $19.92 $19.98 -$0.06 -0.30%
Tiffany $42.60 $43.89 -$1.29 -2.94%
Walmart $54.54 $54.96 -$0.42 -0.76%
Zale $4.74 $5.26 -$0.52 -9.89%

EUROPE
Bulgari €5.94 €6.03 -€0.09 -1.49%
Bijou Brigitte €121.90 €120.00 €1.90 1.58%
Damiani €1.05 €1.01 €0.04 3.96%
LVMH €72.47 €70.48 €1.99 2.82%
Pinault P-R SA €82.53 €80.72 €1.81 2.24%
Richemont SA CHF 32.76 CHF 32.83 -CHF 0.07 -0.21%
Swatch Group CHF 258.70 CHF 252.50 CHF 6.20 2.46%
Theo Fennell (pence) 50.00 50.00 0.00 0.00%

INDIA (rupee)
Classic Diamond 21.90 21.80 0.10 0.46%
Gitanjali Gems 115.95 115.70 0.25 0.22%
Goldiam Int'l 34.00 35.00 -1.00 -2.86%
Rajesh Exports 75.60 77.60 -2.00 -2.58%
Ren. Jewellery 47.80 49.20 -1.40 -2.85%
Su-Raj Diamonds 46.75 45.80 0.95 2.07%
Titan 1,349.10 1,280.70 68.40 5.34%
Zodiac JRD 22.80 23.05 -0.25 -1.08%
Suashish Diamonds 328.00 323.10 4.90 1.52%

NEW ZEALAND
Michael Hill NZD 0.65 NZD 0.62 NZD 0.03 4.84%

MINING STOCKS
CANADA
Harry Winston CAD 10.58 CAD 10.13 CAD 0.45 4.44%
Lucara Diamond CAD 1.05 CAD 1.11 -CAD 0.06 -5.41%
Mountain Province CAD 2.45 CAD 2.58 -CAD 0.13 -5.04%
Peregrine Diamonds CAD 2.00 CAD 1.55 CAD 0.45 29.03%
Rockwell Diamonds CAD 0.06 CAD 0.06 CAD 0.00 0.00%
Shore Gold CAD 0.88 CAD 0.91 -CAD 0.03 -3.30%
Stornoway Diamond CAD 0.29 CAD 0.25 CAD 0.04 16.00%
True North Gems CAD 0.09 CAD 0.10 -CAD 0.01 -10.00%
UK (pence)
African Diamonds 35.80 40.00 -4.2 -10.50%
Anglo American 2,650.00 2,563.00 87.0 3.39%
BHP Billiton 1,931.50 1,834.50 97.0 5.29%
Firestone Diamonds 32.50 30.25 2.3 7.44%
Gem Diamonds 229.60 207.10 22.5 10.86%
Gemfields 6.25 6.14 0.1 1.79%
Mwana Africa 14.12 14.34 -0.2 -1.53%
Namakwa Diamonds 35.00 30.89 4.1 13.31%
Petra Diamonds 63.50 59.28 4.2 7.12%
Rio Tinto plc 3,287.78 2,994.50 293.3 9.79%


INDIA MARKET REPORT:
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, December 18, 2009


News: Markets quiet with retailers hoping that last minute Christmas sales will boost uneventful U.S. holiday season. Online selling still a hot trend with overall sales +4% over 2008, while in-store sales projected at +1%. DTC Dec. sight est. $280m with sightholders expecting increased 1Q 2010 supply from De Beers and ALROSA to ease pressure on rough prices. Christies NY sells $25m (85% by lot) with 7.02 ct., fancy intense blue, VS1 diamond going for $3.9m ($554k/ct.). Belgium Nov. polished exports -22% to $739m, rough imports +43% to $732m. India Nov. polished exports +123% to $1.3b, rough imports +43% to $897m. Israel Nov. polished exports +49% to $524m, total rough and polished imports +75% to $696m. Australia 3Q diamond production -49% to 2.5 million ct., rough exports -65% to $59m ($24/ct.).

ANNOUNCEMENTS:

Rapaport at Jaipur Jewellery Show
December 19-22, 2009

Rajmahal Palace, Booth 107 - open Dec. 20-22
Contact: Nilan Singh, +91-22-6628-2700, nilan.singh@diamonds.net


RAPAPORT NEW YORK POLISHED TENDER

By Appointment Only
January 18-21, 2010

Large assortment of polished round and fancy
diamonds ranging in size from -2 sieve plate
to 1ct+. Qualities vary from promotional to
very fine. Excellent buying opportunity for
diamond and jewelry wholesalers and manufacturers.

Contact Kathryn Langner at NYTender@diamonds.net
or +1-212-354-9800

---------------------------------------


QUOTE OF THE WEEK:

"While De Beers would have preferred more decisive action including [Zimbabwe's] temporary suspension from the Kimberley Process, which would have effectively halted the country's export of diamonds until the issues in question were fully addressed.... we also recognise the unique framework of governments, civil society and industry that the Kimberley Process represents, and the commitment by Zimbabwe not to export any diamonds from Marange until the monitoring program is in place.

“We fully expect the Kimberley Process to take the further action it stipulated should no change in the situation on the ground be forthcoming by the end of the 12-month program.”

Nicky Oppenheimer
Chairman of De Beers


WORLD:

Gokhran to Sell Gold to Central Bank

Russia's deputy prime minister, Alexei Kudrin, who is also the country's finance minister, authorized the sale of gold from state repository Gokhran to the country’s Central Bank (CB). Gold would be priced at the London fixing on the eve of the sale. That would have been $1,124 an ounce or $36,137 per kilogram on December 16, for example. Gokhran plans to sell 30 tons of gold to the CB this year.

Kudrin said the gold sale was an anti-crisis measure and that the Finance Ministry did not plan to sell any more gold in the near future. He noted that the Finance Ministry regards the move as a good deal because gold prices are currently high, while diamond prices are low. The gold sale will also support miners and the regional budgets, Kudrin said.


Mozambique Observes Illegal Diamond Activity

Diamonds smuggled out of Zimbabwe are being illegally sold on the Mozambican side of the border in Manica town, according to the administrator of Manica District, Jose Tefula. Zimbabwe's diamond deposits are located nearby in the province of Manicaland. These deposits have attracted a high number of foreigners, notably from Nigeria, Somalia and the Great Lakes region, some of whom are renting rooms in Manica.

Manica district has an overwhelmingly peasant population, but in recent months, some people here have acquired substantial wealth, judging by the number of luxury four-wheel-drive vehicles now on the roads. This is attributed to the illicit trade in diamonds, which are believed to come from the Marange region in Manicaland. The diamonds are sold in Manica at night and the going price mentioned by the radio report was about $50 (1,350 meticais) per gram. Immigration authorities in Machipanda, the main border post of Zimbabwe, have announced the seizure of more than half a kilo of Zimbabwe diamonds.


Rapaport Broadcast News

In this week's broadcast: The Diamond Trading Company's (DTC) December sight reported an estimated value of $280 million. Online retail sales from November 1 through December 13 have increased 4 percent to $21 billion and Christmas season spending during this past week hit a record at $4.74 billion. Christie's reported that the combined total for the sale of its New York Jewels and Magnificent Jewels from a distinguished private collector was $25,178,025, with 85 percent sold by lot. Take a look at some of the jewelry that sold, including the Evening Star Diamond, a 39-ct., D, pear-shaped diamond and a modified rectangular-cut, fancy intense blue diamond of 7.02 cts., VS1, and much more. WATCH NOW.



RETAIL:

Weekly Retail Sales +2%

U.S. weekly chain-store sales rose 2.4 percent year on year this past week, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. ICSC noted that last-minute Christmas gift buying had begun and as a result, retailers also experienced a 0.4 percent increase in sales for the seven days extending through December 12, compared with the previous week.


Department Store Sales Drop 5%

Department store sales in the U.S. fell 4.7 percent to $15.7 billion during November, according to data released today by the U.S. Department of Commerce. Retail trade sales rose 2.2 percent from November 2008, while retail sales for all categories combined increased by 1.9 percent year over year to $352.1 billion for the month.

The National Retail Federation (NRF), meanwhile, found that sales for its membership — excluding automobile, gasoline and restaurant sales —dropped 0.8 percent for the month. NRF predicted that overall Christmas season sales would fall by 1 percent and November's numbers were in line with that forecast.


Damas 1H Sales -35%, Reports a Loss

Damas International reported a loss of $195 million during the first fiscal half, which was down from profits of $25 million one year ago. First-half revenue plunged 35 percent to $465 million.


Jewelry Prices Increase in Nov.

The consumer price index (CPI) for jewelry in the U.S. rose to its highest level since June 1995 during the month of November 2009, according to statistics provided by the Bureau of Labor Statistics (BLS). The November reading of 161.1 points was 3.3 percent higher than the level achieved in November 2008. This past month's reading also marked the 22nd consecutive cycle for which the jewelry CPI registered more than 150 points. The index is based upon the reference point of average prices in 1986, which is set at 100 points.


Gitanjali Buys Stake in Salasar

Gitanjali Group acquired a 76 percent stake in Salasar Retail as part of its retail expansion strategy in India. The Salasar chain will be re-launched as "Maya by Gitanjali Lifestyle" and offer jewelry and different lifestyle products. Salasar opened its first outlet in Raipur in 2002 and now has ten multi-story department stores in northern India.

In addition, Gitanjali announced that it will open Maya stores in other parts of India and that it expects these stores to generate an additional turnover of about $214.4 million during the next three years, with about two-thirds of this amount to be derived from jewelry sales.

Gitanjali also reported plans to add up to 1.5 million square feet of retail space to its portfolio of stores in the next year and a half through a revenue sharing model.


Video Presentation: Build the Brand, Sell Fantasy

How is your brand and product set different from the competition? Industry analysts and jewelry marketing expert Hedda Schupak discusses the importance of being different while staying true to the company mission in this second installment.


GENERAL:

Wittelsbach-Graff Diamond Goes on Display

The Smithsonian Institution will display the Wittelsbach-Graff Diamond at its National Museum of Natural History from January 28, 2010 through August 1, 2010. This will be the first time it has been available to the public in more than 50 years. A 31.06-carat diamond of rare deep-blue color, the Wittelsbach-Graff Diamond will be exhibited in the National Gem Collection in the Hall of Geology, Gems and Minerals, where the renowned Hope Diamond is on permanent display.

"To have two of the world's most historical stones — the Wittelsbach-Graff and the Hope Diamond — displayed together, is a testament to the stones' history and importance," said Laurence Graff, the chairman of Graff Diamonds. "I believe the diamond's appearance at the Smithsonian will represent another significant chapter in its remarkable history."


DIAMOND MINING:

African Diamonds' Loss +30% to $1M

African Diamonds is planning to build the AK6 mine in Botswana at one-third of the cost budgeted by former partner De Beers. The company, which owns 30 percent of the mine, with new partner Lucara Diamond Corporation holding the remainder, said it can build the mine for $88 million, compared with the De Beers budget of $300 million. Having generated no sale revenues from the mine for the fiscal year, African Diamonds reported that its net loss for the year had expanded 30 percent to $1.1 million. African Diamonds plans to develop AK6 in 2010, so that the mine can come on line the following year, with production estimated at 400,000 carats for that year. At full capacity, the mine’s production will rise to 1 million carats a year. African Diamonds also has the option of raising its stake in AK6 to 40 percent.


Angola Seeks to Produce More Rough Alone

ENDIAMA is hoping to move forward with Angola production without the involvement of foreign companies, its chairman, Antonio Carlos Sumbula, announced. "We need to produce our own diamonds," Sumbula said in a note on ENDIAMA’s website that outlined the company's goal to "provide profits for the state." Among the foreign companies invested in Angola are De Beers and Trans Hex. Sumbula was reporting from his first meeting as chairman of the company, having been appointed in November.


DIAMOND STATS:

Russia's Rough Exports -64%

Russia's rough diamond exports for the January through September period were 64 percent lower than 2008 at 8.183 million carats, according to the Finance Ministry's records of Kimberley Process (KP) certificates. The value was placed at $571.5 million, whereas the value assigned to exports for the same timeframe in 2008 came to $1.53 billion.


Australia's 1Q Production -49%

Australia’s diamond production fell 49 percent to 2.449 million carats during its first fiscal quarter that ended on September 30, 2009. Australia exported all of its production from the quarter, which was down 65 percent from one year ago at $54.1 million. The country’s rough diamond imports fell 4 percent to $100.9 million.


India's Nov. Polished Exports Double

India’s polished diamond exports in November more than doubled, compared with one year ago, closing the month valued at $1.34 billion. Polished imports grew 67 percent to $901.37 million and net polished exports, reflecting the excess of exports over imports, rose seven-fold to $441.2 million. Rough imports increased 43 percent to $897 million while rough exports grew 48 percent to $65 million. Net rough imports rose 43 percent to $832 million. India’s November net diamond account improved by 25 percent from November 2008 to a deficit of $390.8 million.


Israel's Nov. Polished Exports +49%

Israel’s polished diamond exports rose 49 percent to $524.1 million in November and rough exports increased 144 percent to $256.8 million. Total exports of polished and rough combined grew 71 percent to $780.9 million. Total imports of rough and polished combined rose 75 percent to $695.6 million in November. Import data for rough and polished diamonds was not provided for the month.


Belgium’s Nov. Polished Exports -22%

Belgium’s polished diamond exports fell 22 percent to $739.4 million in November and polished imports decreased 20 percent to $701.7 million as the country’s net polished exports, representing the amount by which exports exceeded imports, fell 45 percent to $37.7 million. Rough imports grew 43 percent to $731.7 million and rough exports rose 64 percent to $838.6 million. Net rough imports, the extent to which rough imports exceeded exports, fell to a deficit of $107 million, compared with net imports of $72,000 a year ago. Belgium’s net diamond account, representing total exports less total imports, more than doubled to $144.7 million from $67.6 million in November 2008.


ECON WATCH:

For the week ending December 17, 2009
Dec. 17 Dec. 10 Chng.
$1 = Euro 0.697 0.678 0.019
$1 = Rupee 46.94 46.65 0.3
$1 = Israel Shekel 3.81 3.78 0.03
$1 = Rand 7.55 7.55 0.00
$1 = Canadian Dollar 1.07 1.05 0.02

Precious Metals
Gold $1,092.10 $1,130.80 -$38.70
Platinum $1,421.00 $1,423.00 -$2.00

Stock Indexes Chng.
BSE 16,894.25 17,189.31 -295.06 -1.72%
Dow Jones Avg. 10,308.26 10,405.83 -97.57 -0.94%
FTSE 5,217.61 5,244.37 -26.76 -0.51%
Hang Seng 21,347.63 21,700.04 -352.41 -1.62%
S & P 500 1,096.07 1,102.35 -6.28 -0.57%
Yahoo! Jewelry Index 1,138.34 1,104.08 34.26 3.10%

USA
Birks & Mayors $0.90 $1.08 -$0.18 -16.67%
Blue Nile $59.01 $57.17 $1.84 3.22%
Charles & Colvard $1.20 $1.24 -$0.04 -3.23%
DGSE Companies, Inc. $1.35 $1.24 $0.11 8.87%
Fuqi International $18.53 $18.83 -$0.30 -1.59%
JCPenney $27.06 $28.12 -$1.06 -3.77%
Kohl's $53.27 $54.85 -$1.58 -2.88%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $2.40 $2.60 -$0.20 -7.69%
Macy's $17.03 $16.07 $0.96 5.97%
Man Sang $2.36 $2.39 -$0.03 -1.26%
Movado Group $9.55 $9.35 $0.20 2.14%
Nordstrom $35.18 $35.51 -$0.33 -0.93%
Saks $6.59 $6.03 $0.56 9.29%
Signet $25.25 $24.78 $0.47 1.90%
Sotheby's $22.53 $20.03 $2.50 12.48%
Tiffany $42.40 $40.91 $1.49 3.64%
Walmart $52.83 $54.69 -$1.86 -3.40%
Zale $2.53 $3.17 -$0.64 -20.19%

EUROPE
Bulgari €5.68 €5.49 €0.19 3.46%
Bijou Brigitte €116.40 €120.00 -€3.60 -3.00%
Damiani €1.05 €1.04 €0.01 0.96%
LVMH €75.73 €72.27 €3.46 4.79%
Pinault P-R SA €82.41 €80.43 €1.98 2.46%
Richemont SA CHF 34.20 CHF 32.35 CHF 1.85 5.72%
Swatch Group CHF 256.60 CHF 256.60 CHF 0.00 0.00%
Theo Fennell (pence) 47.00 48.50 -1.50 -3.09%

INDIA (rupee)
Classic Diamond 22.40 22.85 -0.45 -1.97%
Gitanjali Gems 120.00 124.10 -4.10 -3.30%
Goldiam Int'l 37.60 35.10 2.50 7.12%
Rajesh Exports 82.95 80.65 2.30 2.85%
Ren. Jewellery 51.05 50.45 0.60 1.19%
Su-Raj Diamonds 45.95 48.15 -2.20 -4.57%
Titan 1,323.75 1,337.30 -13.55 -1.01%
Zodiac JRD 24.15 24.00 0.15 0.62%
Suashish Diamonds 303.80 304.00 -0.20 -0.07%

NEW ZEALAND
Michael Hill NZD 0.64 NZD 0.63 NZD 0.01 1.59%

MINING STOCKS
CANADA
Harry Winston CAD 10.33 CAD 10.39 -CAD 0.06 -0.58%
Lucara Diamond CAD 1.00 CAD 1.02 -CAD 0.02 -1.96%
Mountain Province CAD 2.29 CAD 2.30 -CAD 0.01 -0.43%
Peregrine Diamonds CAD 1.85 CAD 1.90 -CAD 0.05 -2.63%
Rockwell Diamonds CAD 0.06 CAD 0.06 CAD 0.00 0.00%
Shore Gold CAD 0.79 CAD 0.86 -CAD 0.07 -8.14%
Stornoway Diamond CAD 0.39 CAD 0.34 CAD 0.05 14.71%
True North Gems CAD 0.09 CAD 0.09 CAD 0.00 0.00%
UK (pence)
African Diamonds 37.00 33.50 3.5 10.45%
Anglo American 2,594.00 2,523.00 71.0 2.81%
BHP Billiton 1,863.00 1,850.00 13.0 0.70%
Firestone Diamonds 34.50 35.00 -0.5 -1.43%
Gem Diamonds 197.00 183.00 14.0 7.65%
Gemfields 5.10 5.13 0.0 -0.58%
Mwana Africa 13.06 14.00 -0.9 -6.71%
Namakwa Diamonds 30.00 31.00 -1.0 -3.23%
Petra Diamonds 57.00 56.25 0.8 1.33%
Rio Tinto plc 3,134.00 3,095.00 39.0 1.26%


INDIA MARKET REPORT:

POLISHED: Trading activity is slowing due in part to price differences and shortages of goods that are in strongest demand.
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport TradeWire&reg;
Friday, December 25, 2009


News: U.S holiday season jewelry sales look flat as bad weather puts a chill on retailer hopes for last minute shopping rush but online sales get a boost. Credit card companies report jewelry outperforming average luxury retail sales which have declined 4%. Trading centers quiet as cutters end the year with deep concerns about expanding rough price bubble and weak polished demand. Zale Corp cancels pre-holiday orders from suppliers and reports Nov. same-store sales decline of -18.6%. Responsible Jewelry Council launches certification system setting ethical standards for jewelry trade but does not embargo diamonds from Marange Zimbabwe in spite of obvious severe human rights abuses. Trade is warned not to rely on that organization for ethical standards. Dr. Akolang Tombale resigns as Botswana’s Diamond Hub coordinator.


ANNOUNCEMENTS:

RAPAPORT NEW YORK POLISHED TENDER

By Appointment Only
January 18-21, 2010

Large assortment of polished round and fancy
diamonds ranging in size from -2 sieve plate
to 1ct+. Qualities vary from promotional to
very fine. Excellent buying opportunity for
diamond and jewelry wholesalers and manufacturers.

Contact Kathryn Langner at NYTender@diamonds.net
or +1-212-354-9800

---------------------------------------


QUOTE OF THE WEEK:

“Mother Nature was very unkind to retailers on Saturday as the year-over-year sales decline was the largest we’ve seen since we began reporting this number in 2002. We originally predicted Super Saturday would be the number two sales day of the season just behind Black Friday....We’ll know next week if our original prediction of a 1.6 percent [total season] sales increase with a 4.2 percent total U.S. foot traffic decline is still intact.”

Bill Martin
Co-founder of ShopperTrak


RETAIL:


Rapaport Weekly Broadcast

See how the latest retail sales figures from comScore, ShopperTrak and the International Council of Shopping Centers match up, given the disappointing totals recorded for the final weekend before Christmas. Not all of the news was bad, though, as online sales improved and jewelry sales seem to be holding on in positive territory, even as luxury good sales continued to reflect single-digit declines. WATCH NOW.


Zale Struggles

Zale selected investment bank Rothschild to help the retailer weigh its choices in 2010, according to Bloomberg, citing sources who declined to be identified because the information isn't public. Both Zale and Rothschild declined comment.

Zale canceled some of its orders from suppliers ahead of Christmas and reported that its same-store sales tumbled 18.6 percent in November. The Wall Street Journal cited a source saying: "Zale refused to accept tens of millions of dollars of inventory at the end of November and is stretching payments."

Matt Appel, Zale's chief financial officer (CFO), fired-back that while it has canceled some orders, it has cash on hand to pay suppliers. "Barring something catastrophic, we will pay our bills," Appel said.

Nicholas White, a former Zale executive who now advises Gerson Lehman Group, told the Journal that Zale's lack of merchandise variety, higher prices, marketing and staffing moves "conspire together to create the problems they've got."


Gem Diamonds to Supply Tiffany With Fancy Yellow Diamonds

Gem Diamonds will supply fancy yellow diamonds from its Ellendale mine in Australia to a subsidiary of luxury jeweler Tiffany & Co. The agreement between the miner and retailer will last through the economic lifespan of Ellendale. The yellow diamonds will be sold to Tiffany's polishing firm, Laurelton Diamonds. The agreement will satisfy Tiffany's supply needs for “some very exciting design initiatives beginning in 2010 that will require high-quality yellow diamonds.”


Diamdel's Online Auctions Attract More Bidders

De Beers Diamdel reported that the number of bidders for its online rough diamond auctions rose in 2009, even though market conditions were weak. During 2009, 153 different nonsightholders from Europe, the Middle East and Asia participated in Diamdel's auctions, with 88 different winners emerging from all regions. In 2008, 149 bidders participated, producing 79 different winners. Diamdel made 695 different lots available through 75 auctions and 580, or 83 percent, were sold. The company did not provide sales figures.


Theo Fennell's 1H Sales -20%

Jeweler Theo Fennell reported that revenue for its first fiscal half fell 20 percent to $7 million through September. The U.K.-based retailer reported a pre-tax loss of $1.8 million, up from the loss of $1.4 million recorded one year ago. But with the second fiscal half now underway, Theo Fennell reported that its sales had increased 38 percent for the months of October and November, as its new collections exceeded expectations. Sales for the first two weeks of December were also up by 39 percent on a comparable-store basis.


RJC Launches Certification System

Jewellery Council’s (RJC) Certification System is ready and has been designed to ensure that its members adhere to ethically and socially responsible environmental practices throughout the diamond and gold jewelry supply chain. The foundation of the system is its use of independent, third-party auditing to verify conformance with the group's Code of Practices, guaranteeing that the process is objective, fair and transparent. Auditor accreditation is now underway, with training currently being delivered to members through sector-specific webinars. The Certification System also recently completed its Mining Supplement standards.


HRW Urges Diamond Retailers to Ban Marange Diamonds

Human Rights Watch (HRW) told diamond retailers to take more decisive action regarding diamonds from Marange, Zimbabwe. HRW found that nothing has changed in Zimbabwe's diamond fields, despite reports to the contrary. "By any reasonable assessment, diamonds from Marange are 'blood diamonds' and we are publicly calling upon retailers and interested consumers to boycott Zimbabwe diamonds," HRW’s statement noted.

HRW wants the diamond industry to pressure the Kimberley Process to suspend Zimbabwe until diamond mining meets its minimum standards. Due to the prevalence of smuggling, the lack of transparency within Zimbabwe's diamond industry, insufficient controls at the country's borders with neighboring countries and weak certification mechanisms, there is no way to guarantee that Marange stones are not being mixed with those produced at Zimbabwe's other two mines.

Consumers are increasingly concerned about the issues surrounding diamonds. Retailers must publicly state that they will not buy or sell Zimbabwe diamonds as long as human rights violations continue at the Marange diamonds fields; urge national representatives and the World Diamond Council to broaden the definition of "conflict diamonds" to cover human rights; and ask suppliers to certify that diamonds are not from Zimbabwe by specifying the controls that are in place.


MINING:

ALROSA Launches Underground Operations at Aikhal Mine

ALROSA commissioned underground operations at its Aikhal mine in Yakutia. The mine has a life expectancy of 25 years and will produce 500,000 tons of diamond ore a year. The company developed the mine with an investment of $291 million and employs 380 people but that number will increase to 600 when the mine achieves full capacity.


Petra Diamonds Increases Stake in Cullinan

Petra Diamonds exercised an existing option to increase its direct ownership in the Cullinan mine from 37 percent to 74 percent, acquiring the additional stake from Al Rajhi Holdings. The mining firm also completed the second part of a previously announced placement designed to generate gross proceeds of $120 million.


Botswana Approves AK6 Sale to Lucara

Botswana approved Lucara Diamond's acquisition of a 70.268 percent interest AK6 from De Beers. AK6 is wholly owned by Boteti Exploration, the majority of which is now owned by Lucara, with African Diamonds holding 28.381 percent and Wati Ventures owning 1.35 percent. African Diamonds has a call option to acquire an additional 10.268 percent interest in AK6 from Lucara for $7 million and can also exercise an option to acquire Wati's stake for $700,000.

Lucara closed a private placement of $103 million, which exceeded the company's earlier fundraising estimate of $94 million for the deal. The net proceeds of the offering have been released and the subscription receipts shall be converted into common shares on a one-for-one basis.


Peregrine Approves $13M for Chidliak Exploration

Peregrine Diamonds approved a $13.5 million budget for its Chidliak exploration project in Nunavut, Canada. The program will focus upon the discovery of new diamond-bearing kimberlites and further sampling of existing kimberlites. Peregrine will operate the 2010 exploration program. BHP Billiton has elected to exercise its earn-in rights for Chidliak and must solely fund exploration expenses of $22.3 million in order to earn a 51 percent interest.



ECON WATCH:

For week ending December 24, 2009
Dec. 24 Dec. 17 Chng.
$1 = Euro 0.696 0.697 -0.001
$1 = Rupee 46.58 46.94 -0.4
$1 = Israel Shekel 3.80 3.81 -0.01
$1 = Rand 7.56 7.55 0.01
$1 = Canadian Dollar 1.05 1.07 -0.02

Precious Metals
Gold $1,104.30 $1,092.10 $12.20
Platinum $1,461.00 $1,421.00 $40.00

Stock Indexes Chng.
BSE 17,360.61 16,894.25 466.36 2.76%
Dow Jones Avg. 10,520.10 10,308.26 211.84 2.06%
FTSE 5,402.41 5,217.61 184.80 3.54%
Hang Seng 21,517.00 21,347.63 169.37 0.79%
S & P 500 1,126.48 1,096.07 30.41 2.77%
Yahoo! Jewelry Index 1,162.80 1,138.34 24.46 2.15%

USA
Birks & Mayors $1.18 $0.90 $0.28 31.11%
Blue Nile $64.39 $59.01 $5.38 9.12%
Charles & Colvard $1.20 $1.20 $0.00 0.00%
DGSE Companies, Inc. $1.36 $1.35 $0.01 0.74%
Fuqi International $19.09 $18.53 $0.56 3.02%
JCPenney $27.02 $27.06 -$0.04 -0.15%
Kohl's $54.65 $53.27 $1.38 2.59%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $2.43 $2.40 $0.03 1.25%
Macy's $17.57 $17.03 $0.54 3.17%
Man Sang $2.25 $2.36 -$0.11 -4.66%
Movado Group $9.35 $9.55 -$0.20 -2.09%
Nordstrom $37.37 $35.18 $2.19 6.23%
Saks $6.78 $6.59 $0.19 2.88%
Signet $26.29 $25.25 $1.04 4.12%
Sotheby's $24.40 $22.53 $1.87 8.30%
Tiffany $43.80 $42.40 $1.40 3.30%
Walmart $53.60 $52.83 $0.77 1.46%
Zale $2.47 $2.53 -$0.06 -2.37%

EUROPE
Bulgari €5.77 €5.68 €0.09 1.58%
Bijou Brigitte €118.00 €116.40 €1.60 1.37%
Damiani €1.08 €1.05 €0.03 2.86%
LVMH €77.90 €75.73 €2.17 2.87%
Pinault P-R SA €84.01 €82.41 €1.60 1.94%
Richemont SA CHF 34.15 CHF 34.20 -CHF 0.05 -0.15%
Swatch Group CHF 258.00 CHF 256.60 CHF 1.40 0.55%
Theo Fennell (pence) 46.00 47.00 -1.00 -2.13%

INDIA (rupee)
Classic Diamond 22.75 22.40 0.35 1.56%
Gitanjali Gems 121.00 120.00 1.00 0.83%
Goldiam Int'l 43.75 37.60 6.15 16.36%
Rajesh Exports 88.90 82.95 5.95 7.17%
Ren. Jewellery 55.50 51.05 4.45 8.72%
Su-Raj Diamonds 46.15 45.95 0.20 0.44%
Titan 1,415.70 1,323.75 91.95 6.95%
Zodiac JRD 23.95 24.15 -0.20 -0.83%
Suashish Diamonds 309.00 303.80 5.20 1.71%

NEW ZEALAND
Michael Hill NZD 0.66 NZD 0.64 NZD 0.02 3.13%

MINING STOCKS
CANADA
Harry Winston CAD 10.20 CAD 10.33 -CAD 0.13 -1.26%
Lucara Diamond CAD 1.00 CAD 1.00 CAD 0.00 0.00%
Mountain Province CAD 2.22 CAD 2.29 -CAD 0.07 -3.06%
Peregrine Diamonds CAD 1.97 CAD 1.85 CAD 0.12 6.49%
Rockwell Diamonds CAD 0.06 CAD 0.06 CAD 0.00 0.00%
Shore Gold CAD 0.93 CAD 0.79 CAD 0.14 17.72%
Stornoway Diamond CAD 0.56 CAD 0.39 CAD 0.17 43.59%
True North Gems CAD 0.09 CAD 0.09 CAD 0.00 0.00%
UK (pence)
African Diamonds 37.00 37.00 0.0 0.00%
Anglo American 2,695.00 2,594.00 101.0 3.89%
BHP Billiton 1,970.00 1,863.00 107.0 5.74%
Firestone Diamonds 34.05 34.50 -0.5 -1.30%
Gem Diamonds 221.80 197.00 24.8 12.59%
Gemfields 5.35 5.10 0.3 4.90%
Mwana Africa 12.66 13.06 -0.4 -3.06%
Namakwa Diamonds 30.95 30.00 0.9 3.17%
Petra Diamonds 62.50 57.00 5.5 9.65%
Rio Tinto plc 3,370.00 3,134.00 236.0 7.53%






INDIA MARKET REPORT:
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
JANUARY 8, 2010

Weekly RapUp

TRADE ALERT: WARNING - BLOOD DIAMONDS FROM MARANGE ENTERING MARKET with reports that Zimbabwean government's Mbada Diamonds will auction 300,000 cts this week. DO NOT BUY THESE DIAMONDS. Rapaport and RapNet will expel and name companies and individuals that buy Marange diamonds.
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Rapaport Trade.
JANUARY 15, 2010

RapUp

Trading activity improves at cutting centers. Jewelry retailers report strong Christmas performance for Nov-Dec with Tiffany & Co sales +17%, Signet +7%, Birks & Mayors +6%. Zale Corp CEO Neal Goldberg steps down after Christmas sales lag behind competitors (-15%). Michael Hill Int’l FY1H sales +8% to $179m. Rio Tinto 4Q rough production -35% to 4.5m cts, full year production -33% to 14m cts. Petra Diamonds 1H revenues +43% to $48m, gross rough production +12% to 615K cts. U.S. Nov. polished diamond imports +10% to $1.2b, polished exports -3% to $951m. Belgium Dec. polished exports +13% to $780m, rough imports +100% to $484m, full year ’09 polished exports -30% to $8.6b, rough imports -39% to $2.4b. Lazare Kaplan to open Israel office. GIA to purchase 30,000 square foot space in new International Gem Tower in New York. Chinese authorities bust major diamond smuggling ring, detain 50, including 21 Indian nationals.


ANNOUNCEMENTS:


January 16-21, 2010
Rapaport at Vicenza First
Fiera Di Vicenza - Pavilion A, Stand A43
Rapaport Contact: Francesco Lopresti,
Tel:+39-02-40047274, francesco@diamonds.net


----------------------------------------------------------


January 18-22, 2010
Rapaport Polished Diamond Tender
New York

Large assortment of polished round and fancy diamonds ranging in size from -2 sieve plate to 1ct+. Qualities vary from promotional to very fine. Excellent buying opportunity for diamond jewelry wholesalers and manufacturers.
By Appointment Only.

Contact: Kathryn Langner
Email: NYTender@diamonds.net
Phone: 1-212-354-9800



QUOTE OF THE WEEK:


"Our board is determined to do all in its power to put in place effective leadership to help return Zale to profitability. At the same time, these management changes will help facilitate renewed focus on Zale’s core diamond business. We are fortunate to have executives with Theo Killion’s and Gil Hollander’s experience to assume greater leadership responsibilities as we refocus on our core strengths."

John B. Lowe Jr.
Chairman of Zale



INTERNATIONAL:

China Detains Alleged Diamond Smugglers
China’s Anti-Smuggling Bureau of Shenzhen Customs has detained 21 Indian nationals charged with the illegal transportation of diamonds from Hong Kong to Shenzhen. The individuals were apprehended as part of a major diamond smuggling bust conducted by Customs through which a total of 50 people were detained.

RETAIL:

Goldberg Resigns From Zale
Zale's chief executive officer (CEO), Neal Goldberg, resigned from his post. The company's president, Theo Killion, was appointed as interim CEO until a permanent replacement is found. Goldberg (pictured) was Zale's sixth CEO in ten years and held the position for two years. During his tenure, revenues continued their perpetual decline, with the company posting losses for the past eight quarters. Zale has seen its revenues fall from $2.4 billion in fiscal 2005 to $1.8 billion in 2009. The decline continued through Christmas, with revenue falling 15 percent to $494 million through November and December as competitor Signet Jewelers reported an increase in Christmas 2009 sales. Two other executives will also leave the company, including chief stores officer William Acevedo and chief merchandising officer Mary Kwan.

Rapaport Broadcast
Watch now: Signet, Tiffany & Co. and Zale reported on their stores' performances during the Christmas 2009 season, with only Zale recording negative sales compared to last year. However, due to the ever-changing nature of the retail landscape, one-year comparisons don't provide a good measure of the long-term market trends currently underway. Given the dramatic sales drops that occurred over the Christmas 2008 season, in the wake of weak performances for Christmas 2007, watch the broadcast to see just how 2009 revenue compared with the previous years. The U.S. market had one less major jeweler in the fold this past Christmas - but who absorbed Finlay's market share? The results for November and December 2009 combined were as follows: Signet's sales rose 7.3 percent and its same-store sales were up 5.6 percent; Tiffany's sales rose 17 percent to $799 million, with its same-store sales rising 8 percent; and Zale's revenue fell 15 percent to $494 million, while its same-store sales declined by 12 percent.

U.S. Weekly Chain-Store Sales +2%
Weekly chain-store sales in the U.S. rose 1.7 percent for the week that ended January 9, 2010, compared with one year ago, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs' weekly sales index. However, U.S. chain-store sales fell 3 percent from the previous week, which ICSC attributed to bargain-hunting consumers and depleted clearance merchandise. ICSC Research observed that 53 percent of consumers were looking for bargains, with two-thirds of those bargain hunters stating that they would most likely not buy anything that was not on sale. ICSC predicts that for January, U.S. comparable-store sales will remain flat or reflect a slight increase of up to 1 percent.

Birks & Mayors' Christmas Sales +6%
Birks & Mayors' Christmas sales rose 6 percent to $69.7 million, but its comparable-store sales in the U.S. fell 6 percent while in Canada, they rose 6 percent during the November through December 2009 period. Sales from Canada reflected a higher average transaction value, while the U.S. decrease was primarily the result of a decline in store traffic.

Michael Hill's First-Half Revenue +8%
Michael Hill International reported that its preliminary first-half revenue rose 7.9 percent to $179.1 million and that on a same-store basis, its sales across all regions increased by 4.4 percent to $162.2 million. The retailer's same-store sales in New Zealand rose 5.4 percent and were up by 3.6 percent in Australia, but in Canada, they were down by 4.9 percent. U.S. operations improved by 31 percent during the six-month period, albeit compared against only a four-month reporting cycle for fiscal 2008, which is when Michael Hill International first entered the U.S. market.

WHOLESALE:

Lazare Kaplan to Polish in Ramat Gan
Lazare Kaplan will open an office in Ramat Gan and transfer a substantial portion of its operations to Israel. The news follows last week's report that the Antwerp Diamond Bank (ADB) terminated two credit facilities held by Lazare Kaplan's Antwerp subsidiary, with $43 million outstanding. Lazare Kaplan's chairman, Maurice Tempelsman (pictured), met with the Israel Diamond Exchange's (IDE) president, Avi Paz, to discuss plans to import large quantities of rough diamonds into Israel, as well as the company's intention to move a significant portion of its polishing business to Israel.

Stuller Hires Chief Technology Officer
Stuller hired Carol Skarlat to serve as its new chief technology officer. Her responsibilities will include leading the company's strategic and operational information technology (IT) planning, fostering innovation, prioritizing IT initiatives and coordinating the deployment and management of IT systems. Skarlat will also provide a strategic vision for Stuller's future IT development. Skarlat is the former chief information officer (CIO) for Motorola’s global telecom business unit.

STATS:

U.S. Nov. Polished Imports +10%
U.S. polished diamond imports rose 9.7 percent to $1.19 billion during November 2009, while polished diamond exports fell 2.5 percent to $951 million for the month. The country's net polished imports rose to $243 million from $113 million in November 2008. U.S. rough imports were up by 92 percent to $25 million as rough exports decreased by 45 percent to $6 million and net rough imports rose to $19 million from only $2 million one year ago. The U.S. net diamond account, reflecting net imports of polished and rough goods, increased to $262 million from $115 million in November 2008.

MINING:

De Beers Botswana: No Special Agreement With India
De Beers Botswana said there were "no agreements in place" for it to supply India with diamonds, other than its existing sales arrangement with the Diamond Trading Company (DTC). The statement came in response to press reports that new agreements had been reached with India. De Beers and the government of Botswana have a long-term commitment to sell all of the company's production to DTC Botswana.

Rio Tinto's 4Q Production -35%
Rio Tinto's diamond production fell 35 percent to 4.451 million carats during the fourth quarter of 2009. The decline came as the company reduced operating levels at its Diavik mine in Canada in response to weak market conditions. While Rio Tinto ramped up output at its flagship Argyle operation on the back of the recovery experienced during the quarter, the company noted that the markets remained below last year's levels. Production at its Australia-based Argyle mine fell 33 percent to 3.504 million carats and at Diavik, which the company holds a 60 percent share in, output dropped 41 percent to 918,000 carats. Rio Tinto’s 77.8-percent-owned Zimbabwe operation, Murowa, saw production decline 33 percent to 37,000 carats during the quarter. For the full year, Rio Tinto’s diamond production fell 33 percent to 14.026 million carats.

Petra's 2H09 Production +43%
Petra Diamonds reported that net revenues from its mining operations grew 43 percent to $48.2 million during the six months that ended on December 31, 2009. Petra noted a significant improvement in the market for rough diamonds, with the emerging consumer markets of India and China compensating for weaker activity in the U.S. and Europe. Through the second half of 2009, Petra Diamonds reported a strong increase in attendance at its diamond tenders as confidence returned to the market, with more financing filtering through the pipeline.

Namakwa Diamonds' 1Q Production +100%
Namakwa Diamonds' production rose 100 percent to 24,413 carats during its first fiscal quarter, which ended on December 31, 2009. Production was boosted by the trial mining conducted at the company's operations in the Democratic Republic of the Congo (DRC) after its acquisition of Kasai Resource Mining in December.

ACR Says It Owns Marange Diamonds
African Consolidated Resources (ACR), which is still embroiled in a battle with Zimbabwe over diamond-mining claims in the Chiadzwa area, told the diamond trade that any gemstones sold from the Marange diamond fields are "stolen." ACR's lawyer, Jonathan Samkange, said that Marange diamonds are legally the company's to sell. The statement came after Zimbabwe halted an auction of diamonds from Marange because the seller, Mbada Diamonds, failed to properly notify government officials and the Kimberley Process (KP) that it was auctioning the 300,000 carats.

African Minerals Divests Sierra Leone Property
African Minerals Ltd. (AML) divested from its diamond operations in Sierra Leone after signing an agreement with Obtala Resources. Obtala will issue 21,170,422 fully paid shares valued at $7 million, or a 9.9 percent stake, to AML in return for the entire share of Sierra Leone Hard Rock Limited (SLHR). This divestment will enable AML to focus its resources on the development of its Tonkolili iron-ore project. AML entered Sierra Leone in 2004 and commissioned the Konoma mine. By the end of 2007, approximately 30,000 carats with an average value of $408 per carat had been recovered there.

ECOWATCH:

For the week ending January 14, 2010:
Jan. 14 Jan. 7 Chng.
$1 = Euro 0.689 0.698 -0.009
$1 = Rupee 45.65 45.50 0.1
$1 = Israel Shekel 3.68 3.72 -0.04
$1 = Rand 7.39 7.43 -0.04
$1 = Canadian Dollar 1.03 1.03 0.00

Precious Metals
Gold $1,142.30 $1,130.60 $11.70
Platinum $1,610.00 $1,555.00 $55.00

Stock Indexes Chng.
BSE 17,584.87 17,615.72 -30.85 -0.18%
Dow Jones Avg. 10,710.55 10,605.19 105.36 0.99%
FTSE 5,498.20 5,526.72 -28.52 -0.52%
Hang Seng 21,716.95 22,269.45 -552.50 -2.48%
S & P 500 1,148.46 1,141.55 6.91 0.61%
Yahoo! Jewelry Index 1,039.55 1,067.57 -28.02 -2.62%

USA
Birks & Mayors $0.90 $0.95 -$0.05 -5.26%
Blue Nile $59.99 $62.17 -$2.18 -3.51%
Charles & Colvard $1.43 $1.29 $0.14 10.85%
DGSE Companies, Inc. $1.31 $1.35 -$0.04 -2.96%
Fuqi International $21.24 $20.70 $0.54 2.61%
JCPenney $26.00 $26.89 -$0.89 -3.31%
Kohl's $41.70 $53.43 -$11.73 -21.95%
Lazare Kaplan $2.50 $2.50 $0.00 0.00%
LJ International $2.92 $2.66 $0.26 9.77%
Macy's $16.53 $17.49 -$0.96 -5.49%
Man Sang $2.38 $2.50 -$0.12 -4.80%
Movado Group $11.69 $10.18 $1.51 14.83%
Nordstrom $36.70 $38.97 -$2.27 -5.82%
Saks $7.24 $7.18 $0.06 0.84%
Signet $28.45 $27.04 $1.41 5.21%
Sotheby's $25.69 $22.86 $2.83 12.38%
Tiffany $45.34 $46.83 -$1.49 -3.18%
Walmart $54.18 $53.56 $0.62 1.16%
Zale $2.99 $2.68 $0.31 11.57%

EUROPE
Bulgari €6.14 €6.03 €0.11 1.82%
Bijou Brigitte €122.00 €119.00 €3.00 2.52%
Damiani €1.03 €1.07 -€0.04 -3.74%
LVMH €80.06 €79.99 €0.07 0.09%
PPR €89.77 €84.96 €4.81 5.66%
Richemont SA CHF 36.77 CHF 36.27 CHF 0.50 1.38%
Swatch Group CHF 288.30 CHF 277.40 CHF 10.90 3.93%
Theo Fennell (pence) 45.00 45.90 -0.90 -1.96%

INDIA (rupee)
Classic Diamond 24.40 23.75 0.65 2.74%
Gitanjali Gems 129.15 125.55 3.60 2.87%
Goldiam Int'l 48.15 47.55 0.60 1.26%
Rajesh Exports 93.70 94.00 -0.30 -0.32%
Ren. Jewellery 71.10 67.40 3.70 5.49%
Su-Raj Diamonds 52.25 52.95 -0.70 -1.32%
Titan 1,517.50 1,509.80 7.70 0.51%
Zodiac JRD 26.76 25.65 1.11 4.33%
Suashish Diamonds 304.90 301.00 3.90 1.30%

NEW ZEALAND
Michael Hill NZD 0.72 NZD 0.66 NZD 0.06 9.09%

MINING STOCKS
CANADA
Harry Winston CAD 11.74 CAD 11.31 CAD 0.43 3.80%
Lucara Diamond CAD 1.00 CAD 1.02 -CAD 0.02 -1.96%
Mountain Province CAD 2.52 CAD 2.55 -CAD 0.03 -1.18%
Peregrine Diamonds CAD 2.43 CAD 2.26 CAD 0.17 7.52%
Rockwell Diamonds CAD 0.08 CAD 0.07 CAD 0.02 23.08%
Shore Gold CAD 0.95 CAD 1.00 -CAD 0.05 -5.00%
Stornoway Diamond CAD 0.59 CAD 0.60 -CAD 0.01 -1.67%
True North Gems CAD 0.10 CAD 0.09 CAD 0.01 11.11%
UK (pence)
African Diamonds 50.15 43.50 6.7 15.29%
Anglo American 2,749.00 2,844.00 -95.0 -3.34%
BHP Billiton 2,066.00 2,091.00 -25.0 -1.20%
Firestone Diamonds 46.80 34.65 12.2 35.06%
Gem Diamonds 248.00 244.40 3.6 1.47%
Gemfields 5.10 5.40 -0.3 -5.56%
Mwana Africa 14.05 13.43 0.6 4.62%
Namakwa Diamonds 38.01 34.95 3.1 8.76%
Petra Diamonds 62.00 63.75 -1.8 -2.75%
Rio Tinto plc 3,617.50 3,645.50 -28.0 -0.77%



INDIA MARKET REPORT:
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RAPAPORT NEWS SERVICE | JANUARY 29, 2010 www.rapaport.com | news@rapaport.com


Industry Retail General Mining EconWatch India


RapUp January 29, 2010


January DTC sight estimated at $550m. Strong demand for rough and further price increases reported. Cutters pushing for higher polished prices with resistance from Far East buyers. Gem Diamonds’ Letseng mine 2009 sales -13% to $156m, average price -27% to $1,534/ct. Bulgari Group 4Q jewelry sales flat at $182m, full year ‘09 jewelry sales -10% to $563m. China 2009 polished diamond imports +31% to $699m to surpass Japan as second largest diamond consumer market, total polished trade +16% to $1.5b. Sierra Leone 2009 rough diamond exports reportedly -20% to $79m.




RapNet Data: January 29, 2010

Diamonds 618,057

Value $3,858,368,921

Carats 692,361

Average Discount -33.37%






Get Current Price List | Subscribe to Rapaport | Join RapNet



ANNOUNCEMENTS


February
22-26
Mon-Fri

Rapaport Polished Diamond Tender
New York

Polished round and fancy diamonds ranging in size from -2.5 sieve plate to 1ct +. Qualities vary from commercial to very fine including some breakout assortments. Excellent buying opportunity for diamond and jewelry manufacturers.

By Appointment Only.

Contact: Myles Schakler
Email: NYTender@diamonds.net
Phone: 1-212-354-9800

February
26
Fri
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Bangkok

2:30p.m.-4:30p.m.
4th Bangkok Gems & Jewelry Fair
Challenger Hall of Impact Convention Center
Bangkok, Thailand
Reserve your place: thailand@rapaport.com


March
7
Sun
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Hong Kong

11:00a.m.-12:00p.m.
Hong Kong International Jewellery Show
Hong Kong Convention & Exhibition Center
Wanchai, Hong Kong
Reserve your place: hongkong@rapaport.com




QUOTE OF THE WEEK:
Consumer spending plummeted 27 percent last week from one year ago, the lowest weekly average Gallup has found since it began measuring consumer spending in January 2008. Self-reported daily spending in stores, restaurants, gas stations, and online averaged $52, which was down 24 percent from the prior week. This marks the first time in 2010 that a full week's spending has failed to match its year-ago comparable. It now seems likely that January 2010 spending may simply match the January 2009 average of $64 per day -- reflecting a continuation of what turned out to be something of a 'new normal' in spending for most of 2009.

Gallup Inc. | Washington D.C.






INDUSTRY


Central Bank to Hold Marange Diamonds

Zimbabwe's Supreme Court ordered the country's central bank to safeguard millions of dollars worth of diamonds from the Marange area, or an estimated 129,000 carats. The ruling was the result of an ongoing battle between the government and junior miner African Consolidated Resources (ACR) over ownership of the Marange claims. The court also ruled that all of the diamonds extracted from the claims by the Zimbabwe Mining Development Corporation (ZMDC) should be returned to ACR. The government continues to contest the court's decision.






Industry Leaders Call for KP Action on Zim

A group of diamond industry leaders and nongovernmental organizations (NGOs) met with the U.S. State Department to urge the Kimberley Process (KP) to take tougher action in implementing and enforcing the joint work plan designed to bring Zimbabwe into full compliance with KP standards. Under this work plan, diamonds are not permitted to be exported from Zimbabwe's Marange area until a designated KP monitor is in place.

The industry representatives also emphasized their interest in KP reforms, including the establishment of a permanent secretariat. This group also urged the enactment of KP enforcement measures for established instances of noncompliance.

The industry coalition consisted of representatives from the Diamond Manufacturers and Importers of America, Jewelers of America, the Diamond Dealers Club of New York, the World Diamond Council, the U.S. Kimberley Process Authority, the Responsible Jewelry Council, Global Witness, Human Rights Watch and the Jewelers Vigilance Committee, with Martin Rapaport of The Rapaport Group and Brian Leber of Leber Jeweler participating by phone.






Vicenzaoro First Sees Stronger Activity

The Vicenzaoro First jewelry show, the first major jewelry exhibition of the year, reflected marked improvement in business activity compared with the previous year. While attendees noted strong foot traffic, however, that trend did not necessarily translate into strong sales. This year's buyers came mainly from Eastern Europe, with some traveling from Asia and the Middle East, while European and U.S. attendance was said to be disappointingly low.






Rapaport Broadcast

The Diamond Trading Company's (DTC) recent January sight estimate was five times larger than in January 2009; however, the rough market continues to remain uneasy as buyers strive to balance healthy manufacturing demand with high rough prices. Rapaport sight reporter Avi Krawitz discusses how insiders are negotiating the marketplace. Sightholders are preparing for further rough price increases in February. All eyes are on U.S. consumers as they continue to sweat the poor economy and reduce thier spending. The Conference Board found that while consumer confidence improved in January, the overall sentiment remains well below the more typical, pre-recessionary levels. Watch now.












RETAIL


U.S. Chain-Store Sales +2%

U.S. chain-store sales rose 1.9 percent this past week compared with one year ago, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Chain-store sales in the U.S. fell 2.5 percent from the previous week. For the month of January 2010, ICSC is predicting that U.S. chain-store sales will increase by about 1 percent.







Japan's Retail Sales Slump in '09

Japan's department store sales fell to their lowest level since 1985 in 2009, while its supermarket sales declined to their lowest point since 1988. Meanwhile, the country's same-store sales across both sectors registered their 13th consecutive annual decline. Department store sales fell 10 percent to $73 billion, marking a 24-year low. Sales of high-priced items, including artwork, jewelry and precious metals, were hit particularly hard by the recession, plummeting 15.3 percent. During the month of December, Japan's department store sales slid 5 percent from a year earlier to $8.2 billion.







Bulgari 4Q Jewelry Sales Flat

Jewelry sales at Bulgari during its fiscal fourth quarter of 2009 were basically flat at $182 million and watch sales fell 4.5 percent to $96 million. Bulgari's total sales during fourth quarter fell 5.1 percent to $416 million. Fiscal year sales at Bulgari for its jewels division fell 10.3 percent to $563.2 million. Watch sales declined 19.5 percent to $297 million. Overall, Bulgari sales in 2009 fell 13.8 percent to almost $1.3 billion.






Lazare Kaplan Launches 'Simply Global'

Lazare Kaplan is launching a new collection of seven bridal rings inspired by designs from seven different countries. The collection, crowned "Simply Global," will make its debut in Tucson, Arizona during the Centurion Jewelry exhibit to be held from January 30, 2010 through February 2, 2010.






Economy Remains Number One Issue

A poll conducted by CNN/Opinion Research found that 77 percent of the U.S. public feel that the U.S. economy is in the worst shape of their lifetime. Only 22 percent said that they have lived through more difficult economic times. The economy remains the number one issue facing consumers and voters alike. Sixty percent of those polled by CNN/Opinion Research said that fixing the economy this year, as opposed to later, was an extremely important undertaking that must be handled by both the White House and Congress.

Only one in eight believed that the U.S. economy had begun to recover from the current recession and about half felt that the recovery had not begun. Four in ten said the U.S. remains on a downward trend.











GENERAL


GIA Offers Diamond Sorting Service

The Gemological Institute of America (GIA) will offer a diamond sorting service for D-Z color diamonds weighing between 0.15 and 0.99 carat. This service is intended to help control clients’ costs by only providing grading reports for diamonds that fall within certain color and clarity parameters, as specified by the client. The stones must be submitted for sorting in bulk and there is a 50-stone minimum. The total parcel weight is also required, although the stones do not need to be individually parceled. All of the stones that meet the client's color and clarity criteria will continue through GIA’s grading and testing process to receive either a GIA Diamond Dossier&reg; or a GIA Diamond Grading Report.

Stones that do not fit the latter criteria will be rejected and charged a fee. Grading information will not be provided for the rejected stones, which will also not be tested for treatments. Instead, the rejected stones will be returned in one common parcel.






EGL Asia Partners With NGGC

Hong Kong-based EGL Asia and NGGC, the state-owned diamond grading laboratory, have reached an exclusive agreement through which customers of the two labs can now receive a diamond-grading certificate from both simply by paying for an EGL certificate. Joseph Kuzi, the chief executive officer (CEO) of EGL Asia, said that the agreement reflected the company's continuing commitment to provide better service to its customers.






CIBJO Creates Networking Commission

CIBJO created a new commission, the CIBJO Association Executive Networking Commission (CAENCOM), to develop networking strategies to connect executives working in national jewelry associations within the CIBJO community.

The commission will sponsor a panel of three or four association executives who will share one of their own association's successful networking programs. The panel will also identify the networking challenges facing associations and suggest solutions.









STATS


China's Diamond Trade Up 16% in 2009

China’s trade in polished diamond imports and exports rose 16.4 percent to $1.52 billion in 2009, according to the Diamond Administration of China (DAC). Imports received through the Shanghai Diamond Exchange (SDE) rose 30.7 percent to a new high of $699 million, leading the country to surpass Japan in becoming the second-largest consumer market for diamonds. The country's imports were spurred by China’s economic growth and the expansion of its domestic jewelry market, particularly for bridal goods. The DAC added that China’s lower tax policy for diamonds also contributed to the growth.





Sierra Leone's Rough Exports -20%

Sierra Leone’s rough diamond exports fell 20 percent in 2009 to $79 million due primarily to the drop in price, Reuters reported, quoting an unnamed senior official in the country's Ministry of Natural Resources. During 2008, Sierra Leone exported $99 million worth of rough that was valued at $266 per carat, according to data provided by the Kimberley Process (KP).









MINING


Gem Diamonds' FY09 Revenue -20%

Gem Diamonds' fiscal-year revenue fell 20 percent to $228 million in 2009. Revenue from Letseng dropped 13 percent to $155.8 million for an average of $1,534 per carat. Gem Diamonds also sold a total of 206.6 carats of polished diamonds from its beneficiation unit during the year for $12.5 million, or an average of $60,559 per carat. Ellendale mine revenue fell 27 percent to $72.4 million, or $232 per carat.





De Beers Agrees to Credit Terms

De Beers and its lenders have agreed to terms to renew the company's $1.5 billion credit facility, which was due to expire in March. The company has been negotiating for much of the second half of 2009 to renew the credit facility. In December, De Beers shareholders agreed to invest $1 billion in the diamond-mining company to reduce the level of debt it will need to take out for refinancing. Once the refinancing process is concluded, shareholders are expected to commit additional funding to help recapitalize the business.





Gahcho Kué Feasibility in Final Stage

Mountain Province Diamonds updated its feasibility study for Gahcho Kué, pinpointing the lifespan of the open-pit mine area at approximately 12 years and estimating that the mine's average annual production rate will total 4.5 million carats. A final draft of the Gahcho Kué project description has been presented to the project's joint-venture partners, Mountain Province Diamonds and De Beers Canada.






Kopane to Co-Develop Liqhobong

Kopane Diamond signed a nonbinding memorandum with an "established mining company" to co-develop the Liqhobong kimberlite project in Lesotho. The yet-to-be-disclosed mining company will fund Liqhobong for Kopane and the resulting diamond sale revenues will be split between the two parties. The companies will also jointly fund the completion of the feasibility study being conducted on Liqhobong’s main pipe. Kopane is hoping to recover approximately 200,000 carats over the next 18 months. Once the study is completed, the unnamed mining company will have the option of acquiring 51 percent of Kopane’s interest in the main pipe in return for raising 80 percent of the cost for boosting Liqhobong's annual production to above one million carats.










ECONWATCH


For the week ending January 28, 2010:

Jan. 28 Jan. 21 Chng.
$1 = Euro 0.715 0.712 0.003
$1 = Rupee 46.28 46.08 0.2
$1 = Israel Shekel 3.74 3.73 0.01
$1 = Rand 7.61 7.51 0.10
$1 = Canadian Dollar 1.06 1.05 0.01

Precious Metals
Gold $1,085.50 $1,094.30 -$8.80
Platinum $1,507.00 $1,591.00 -$84.00

Stock Indexes Chng.
BSE 16,306.87 17,051.14 -744.27 -4.4%
Dow Jones Avg. 10,120.46 10,389.88 -269.42 -2.6%
FTSE 5,145.74 5,335.10 -189.36 -3.5%
Hang Seng 20,356.37 20,862.67 -506.30 -2.4%
S & P 500 1,084.53 1,116.48 -31.95 -2.9%
Yahoo! Jewelry Index 935.57 958.01 -22.44 -2.3%

USA
Birks & Mayors $0.82 $0.96 -$0.14 -14.6%
Blue Nile $53.43 $53.33 $0.10 0.2%
Charles & Colvard $1.24 $1.31 -$0.07 -5.3%
DGSE Companies, Inc. $1.43 $1.36 $0.07 5.1%
Fuqi International $16.90 $18.14 -$1.24 -6.8%
JCPenney $24.81 $25.45 -$0.64 -2.5%
Kohl's $50.50 $51.26 -$0.76 -1.5%
LJ International $2.33 $2.50 -$0.17 -6.8%
Macy's $15.76 $15.74 $0.02 0.1%
Man Sang $2.14 $2.40 -$0.26 -10.8%
Movado Group $10.92 $11.41 -$0.49 -4.3%
Nordstrom $34.85 $34.74 $0.11 0.3%
Saks $6.50 $6.67 -$0.17 -2.5%
Signet $27.31 $27.48 -$0.17 -0.6%
Sotheby's $23.34 $24.33 -$0.99 -4.1%
Tiffany $40.75 $41.79 -$1.04 -2.5%
Walmart $52.64 $52.90 -$0.26 -0.5%
Zale $2.23 $2.51 -$0.28 -11.2%

EUROPE
Bulgari €5.81 €6.37 -€0.56 -8.8%
Bijou Brigitte €132.55 €128.75 €3.80 3.0%
Damiani €1.00 €1.03 -€0.03 -2.9%
LVMH €78.11 €78.44 -€0.33 -0.4%
PPR €87.80 €88.19 -€0.39 -0.4%
Richemont SA CHF 36.25 CHF 35.57 CHF 0.68 1.9%
Swatch Group CHF 278.50 CHF 287.10 -CHF 8.60 -3.0%
Theo Fennell (pence) 49.00 49.00 0.00 0.0%

INDIA (rupee)
Classic Diamond 20.90 23.25 -2.35 -10.1%
Gitanjali Gems 114.00 124.65 -10.65 -8.5%
Goldiam Int'l 44.95 47.00 -2.05 -4.4%
Rajesh Exports 95.50 95.65 -0.15 -0.2%
Ren. Jewellery 57.80 64.70 -6.90 -10.7%
Su-Raj Diamonds 46.35 51.15 -4.80 -9.4%
Titan 1,520.85 1,530.65 -9.80 -0.6%
Zodiac JRD 24.65 25.65 -1.00 -3.9%
Suashish Diamonds 308.65 302.55 6.10 2.0%

NEW ZEALAND
Michael Hill NZD 0.69 NZD 0.70 -NZD 0.01 -1.4%

MINING STOCKS
CANADA
Harry Winston CAD 10.40 CAD 10.96 -CAD 0.56 -5.1%
Lucara Diamond CAD 1.02 CAD 1.00 CAD 0.02 2.0%
Mountain Province CAD 2.37 CAD 2.43 -CAD 0.06 -2.5%
Peregrine Diamonds CAD 1.52 CAD 2.28 -CAD 0.76 -33.3%
Rockwell Diamonds CAD 0.07 CAD 0.08 -CAD 0.01 -12.5%
Shore Gold CAD 0.90 CAD 0.91 -CAD 0.01 -1.1%
Stornoway Diamond CAD 0.53 CAD 0.59 -CAD 0.06 -10.2%
True North Gems CAD 0.10 CAD 0.10 CAD 0.00 0.0%
UK (pence)
African Diamonds 43.00 48.15 -5.2 -10.7%
Anglo American 2,300.00 2,488.00 -188.0 -7.6%
BHP Billiton 1,842.50 1,942.50 -100.0 -5.1%
Firestone Diamonds 41.25 44.25 -3.0 -6.8%
Gem Diamonds 222.00 240.20 -18.2 -7.6%
Gemfields 5.38 5.25 0.1 2.5%
Mwana Africa 13.83 14.94 -1.1 -7.4%
Namakwa Diamonds 38.50 38.75 -0.3 -0.6%
Petra Diamonds 52.00 59.00 -7.0 -11.9%
Rio Tinto plc 3,053.50 3,294.50 -241.0 -7.3%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RAPAPORT NEWS SERVICE | FEBRUARY 5, 2010 www.rapaport.com | news@rapaport.com


Industry Retail General Mining EconWatch India


RapUp February 5, 2010


Polished markets under pressure to increase prices due to speculatively high rough prices. Rough producers are creating artificial shortages which are driving up prices that are fueling speculative cycle. Far East trade quiets as wholesalers start Chinese New Year vacations with prices below that of cutting centers. Low expectations for U.S. Valentine’s Day sales. Gitanjali Group 3Q sales +63% to $391.5m, net profit +39% to $8.8m. Suashish Diamonds 3Q sales +117% to $67.4m, net profit of $3.7m vs. net loss of $6.6m a year earlier. Birks & Mayors 3Q sales +1% to $89m. Finlay Enterprises sells $122m of merchandise in Dec. Amazon 4Q sales +42% to $9.5b, net profit +71% to $384m. LMVH '09 revenue -1% to $24b with jewelry sales -13% to $1.1b, group profits -13% to $2.4b. Japan Dec. polished diamond imports -1% to $44m, full year ‘09 imports -20% to $619m. Clark McEwen appointed marketing manager of Rio Tinto Diamonds.




RapNet Data: February 5, 2010

Diamonds 589,712

Value $3,972,059,404

Carats 689,066

Average Discount -32.15%






Get Current Price List | Subscribe to Rapaport | Join RapNet



ANNOUNCEMENTS


February
22-26
Mon-Fri

Rapaport Polished Diamond Tender
New York

Polished round and fancy diamonds ranging in size from -2.5 sieve plate to 1ct +. Qualities vary from commercial to very fine including some breakout assortments. Excellent buying opportunity for diamond and jewelry manufacturers.

By Appointment Only.

Contact: Myles Schakler
Email: NYTender@diamonds.net
Phone: 1-212-354-9800

February
26
Fri
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Bangkok

2:30 p.m. - 4:30 p.m.
4th Bangkok Gems & Jewelry Fair
Challenger Hall of Impact Convention Center
Bangkok, Thailand
Reserve your place: thailand@rapaport.com


March
7
Sun
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Hong Kong

11:00 a.m. - 12:00 p.m.
Hong Kong International Jewellery Show
Hong Kong Convention & Exhibition Center
Wanchai, Hong Kong
Reserve your place: hongkong@rapaport.com




QUOTE OF THE WEEK:
What I’ve seen with [couples-to-be] who don’t have the money is they skip the engagement ring, but will do a nicer wedding band. And then they’ll upgrade later, when they’re more financially stable.

Todd Scanlon | Scanlon Jewelers, Williamsville, NY






INDUSTRY


Marange Diamonds are in the Pipeline

An airstrip reportedly is being built in Zimbabwe's Chiadzwa diamond fields, which observers believe will be used to deliver weapons in exchange for diamonds. Aerial photographs show construction underway, adding to concerns that conflict diamonds from the Marange fields are making their way into the market illegally. Diamonds from the area have been found to be noncompliant with the Kimberley Process (KP) and may not be exported legally.

The Centre for Research and Development (CRD), a local nongovernmental organization (NGO), told Rapaport News that the absence of a local KP monitor has resulted in a great deal of corruption. Mbada Diamonds and Canadile, which were given the green light to extract diamonds, have been airlifting them to Harare International Airport in violation of the KP work plan. CRD also alleged that directors at Mbada fled the country with two boxes containing diamonds worth hundreds of millions of dollars.

“On this particular day, the two directors loaded the boxes into the helicopter and fled with the the precious stones,” the centre explained. The NGO cited unnamed sources who claimed that the two were acting in collaboration with some very senior government officials. "There is no way the scam could have succeeded without the cooperation of some powerful individuals within government. Further, no police report was filed about the theft.”

Soldiers continue to mine diamonds and “commit gross human rights violations in and around Chiadzwa,” despite the KP work plan agreement, according to the centre. Soldiers “ran amok, beating everyone on sight with logs and gun butts” after prospective diamond buyers would not meet their asking prices. Soldiers have reportedly raided beer halls and shops, seizing women and detaining them for one to two days, using them as sex slaves.

The Minerals Marketing Corporation of Zimbabwe (MMCZ) has postponed its plans to transport 300,000 carats of diamonds to the Reserve Bank of Zimbabwe after armed robbers raided African Consolidated Resource (ACR) offices in Harare. The Supreme Court ordered that the diamonds it says rightfully belong to ACR be moved to the reserve bank for safekeeping by a neutral body pending the resolution of the ownership dispute.









ECONOMIC & RETAIL


Rapaport Broadcast

Continuing weak U.S. chain store sales reflect how little consumer spending trends have changed since the recession hit bottom. Based upon consumer spending habits, the consumer recession is far from over as the daily spending average, on a rolling 14-day cycle, continues to decline.Even more telling is how a number of economic indicators measured by the Gallup Organization, including economic confidence, consumer spending and job creation, have stagnated during the past ten months. Watch now.





U.S. Economy Shrunk 2% in 2009

The U.S. economy contracted by 2.4 percent in 2009, the biggest drop since 1946, according to the U.S. Commerce Department. This decrease in the country's real gross domestic product (GDP) primarily reflects negative contributions from nonresidential fixed investments, exports, private inventory investments, residential fixed investments and personal consumption expenditures. Spending decreases by the private sector, however, were partially offset by increased federal government spending. Imports, which are not included in GDP calculations, also decreased.

The Commerce Department also reported that the price index for gross domestic purchases increased 0.6 percent during 2009, compared with an increase of 1.9 percent in 2008. Wages and benefits were up only 1.5 percent in 2009, representing the weakest growth since 1982. Current-dollar GDP decreased 1.3 percent, or $182.7 billion, in 2009, compared to an increase of 2.6 percent, or $363.8 billion, in 2008.








U.S. Retailers Report Jan. Sales Increases

U.S. retail sales at the largest brand stores during the month of January 2010 came in positive for the most part, with easy comparison figures from the dramatic drops recorded one year ago. In summary: Macy's same-store sales rose 3.4 percent as did total sales to $1.26 billion; JCPenney same-store sales fell 4.6 percent and total sales fell 4.4 percent to $940 million; Kohl's same-store sales rose 6.5 percent and total sales rose 10.7 percent to $798 million; Nordstrom same-store sales rose 14 percent and total sales rose 15.8 percent to $543 million; Neiman Marcus same-store sales rose 6.8 percent and total sales rose 8.3 percent to $242 million; Saks same-store sales rose 7 percent and total sales rose 8 percent to $159 million.

Comparable-store sales at the nation's chains rose 3 percent during the month, according to the International Council of Shopping Centers. "Despite lean clearance inventories and some adverse weather that held back sales in January, industry sales posted an impressive gain," said Michael P. Niemira, chief economist and director of research for ICSC. Comparisons were however easy given the 4.8 percent decline in January 2009.






LVMH '09 Revenue -1%, Profits -13%

LVMH reported that revenue for fiscal 2009 fell 1 percent to $24 billion while the group's share of net profit fell 12.5 percent to $2.4 billion. By business group, sales of watches and jewelry fell 13 percent to $1.06 billion. The figure was down by 19 percent using comparable exchange rates. The jewelry division was hardest hit during the year.

Wines and spirits experienced a 12 percent decline in revenue and perfume sales slid 4 percent. Increases were registered for fashion and leather goods, and selective retailing categories. Operating profits for the year fell 8 percent to $4.6 billion. The jewelry and watch division fared worse of all with a 47 percent drop in operating profits at $87.2 million.






Amazon.com 4Q Sales +42%

Fourth-quarter sales at Amazon.com grew by 42 percent to $9.52 billion, while the cost of sales rose by almost as much to $7.5 billion. The company's quarterly net profits increased by 71 percent to $384 million. Amazon's sales across North America rose 36 percent to $4.96 billion, while its international sales — in the U.K., Germany, Japan, France and China — rose 48 percent to $4.56 billion.

For fiscal 2009, consolidated net sales rose 28 percent to $24.51 billion and the cost of sales increased by 27 percent to $18.98 billion. Net income rose 40 percent to $902 million. North American sales rose 25 percent to $12.83 billion, while its international sales jumped 31 percent to $11.68 billion.









Finlay Dec. Sales Reach $122M

Finlay Enterprises sold $122 million worth of merchandise during December 2009, according to its monthly bankruptcy court filing. Filings for previous months, since filing Chapter 11 in August, reflect revenues of $56.6 million in November and $37 million in October. Cumulative revenues since August total $276.6 million. Finlay reported a net profit of $27,419 for December, but net losses since August total $85 million. The company had cash on hand of $92.9 million as of January 2, 2010, compared with $78.8 million at the end of November. Its total liabilities at the beginning of 2010 stood at $301.1 million, down from the $341.7 million it reported in August.







Birks & Mayors 3Q Sales +1%

Birks & Mayors reported that sales rose 1 percent to $89.3 million during its third quarter of fiscal 2010, although this figure reflected a $6.2 million boost derived from converting Canadian sales into U.S. dollars. The company's comparable-store sales fell by 4 percent overall, led by a 9 percent decline in the U.S. Same-store sales increased by 2 percent in Canada. Birks & Mayors closed two of its retail store locations in Florida during January and plans to close two locations in Canada in March. It will open a new Mayors store in West Palm Beach, Florida, later this month.







Hong Kong Dec. Jewelry Sales +47%

Hong Kong retail sales in December jumped 16 percent by value to $3.8 billion, the strongest growth since April 2007. Sales of big-ticket items gained the most, with jewelry surging 47.4 percent, cosmetics 16.7 percent and electrical goods 16.2 percent. Auto sales soared 30.9 percent.

Retail sales for all of 2009 edged up 0.6 percent by value, while volume dropped 0.8 percent. In separate news, an HKRMA survey reported that most retailers will raise employees' salaries this year.








Valentine's Jewelry Sales to Fall 5%

Expect U.S. consumers to spend about $1.3 billion on jewelry for Valentine's Day this year, 4.6 percent less than they spent on the holiday in 2009, according to IBISWorld. Jewelry, candy and flowers registered declines in the group's annual Valentine's Day spending forecast, but spending gains were predicted for clothing, greeting cards, romantic getaways and dining out. Total spending for the holiday was projected at $17.6 billion, 3.3 percent higher than 2009.

In a separate forecast provided by the National Retail Federation (NRF), couples are expected to spend an average of $63.34 on gifts for their significant other or spouse, compared with $67.22 in 2009. The average expenditure on traditional Valentine’s Day merchandise this year will be $103, similar to what was spent in 2009. NRF predicts total spending for the holiday will reach $14.1 billion.
NRF determined that "personal and practical" gifts would resonate and that sweaters, winter accessories and other clothing options would replace gifts of jewelry or an evening out.











GENERAL


GIA Finds Counterfeit Grading Report

The Gemological Institute of America (GIA) has discovered a counterfeit GIA report in Hong Kong that was traced back to Antwerp. The bogus document, which resembles an authentic GIA report, has been taken out of circulation and currently is in GIA's possession. GIA is diligently working behind the scenes to obtain more information concerning this report and its origin. Noting that it takes such violations seriously and is engaged with law enforcement agencies worldwide to help prevent, detect and prosecute illegal activities, GIA urged the trade and the public to use its Report Check as the most effective way to identify counterfeit reports. Report Check is available only for diamonds graded after January 1, 2000. www.gia.edu/reportcheck/






McEwen Joins Rio Tinto

As part of the reorganization of its Antwerp-based sales and marketing management team, Rio Tinto has appointed Clark McEwen to the position of marketing manager, where he is expected to play a key role in the restructuring effort. The industry veteran will report to Jean-Marc Lieberherr, Rio Tinto Diamonds' general manager of sales and marketing.

McEwen will be based in Antwerp, effective March 1, 2010. He brings a wealth of international experience to the job, a strong knowledge of the entire diamond pipeline and the proven trading, manufacturing, branding and retail skills acquired in more than 25 years in the diamond industry.











STATS


Japan Dec. Polished Imports -1%

Japan’s polished diamond imports fell 1 percent to $43.9 million in December 2009. For the full year of 2009, Japan’s polished diamond imports declined 20 percent to $619.2 million, with volume down 5 percent to 2.168 million carats. The average price for polished imports fell 17 percent to $285 per carat for the year.












MINING


Petra Names 507-Carat Diamond

Petra Diamonds has named the 507-carat white diamond recovered at its Cullinan mine this past September "The Cullinan Heritage." The stone was named to reflect the date of recovery, September 24, which is Heritage Day in South Africa. The Cullinan Heritage is being placed on tender in Johannesburg and its sale is expected before the end of the month.

“The Cullinan Heritage is not only exquisitely beautiful, but also of true historical importance,” said Johan Dippenaar, Petra’s chief executive officer (CEO). “Since we announced the recovery of the diamond in September 2009, we have experienced a high level of interest from the trade and we look forward to announcing the results of the sale before the end of the month.”







De Beers Canada Signs On to Conduct Code

De Beers Canada joined the Voluntary Code of Conduct for Authenticating Canadian Diamond Claims, a code established in 2002 to track diamonds in Canada from mine to market. The code is endorsed by the Competition Bureau of Canada and the World Jewellery Confederation (CIBJO). The announcement was made by the Canadian Diamond Code Committee (CDCC).

De Beers Canada operates the Snap Lake diamond mine in the Northwest Territories and the Victor diamond mine in the province of Ontario.











ECONWATCH


For the week ending Feb. 4, 2010:

Feb. 4 Jan. 28 Chng.
$1 = Euro 0.727 0.715 0.012
$1 = Rupee 46.57 46.28 0.3
$1 = Israel Shekel 3.71 3.74 -0.03
$1 = Rand 7.55 7.61 -0.06
$1 = Canadian Dollar 1.07 1.06 0.01

Precious Metals
Gold $1,062.40 $1,085.50 -$23.10
Platinum $1,505.00 $1,507.00 -$2.00

Stock Indexes Chng.
BSE 16,224.95 16,306.87 -81.92 -0.5%
Dow Jones Avg. 10,002.18 10,120.46 -118.28 -1.2%
FTSE 5,139.31 5,145.74 -6.43 -0.1%
Hang Seng 20,341.64 20,356.37 -14.73 -0.1%
S & P 500 1,063.11 1,084.53 -21.42 -2.0%
Yahoo! Jewelry Index 917.12 935.57 -18.45 -2.0%

USA
Birks & Mayors $0.81 $0.82 -$0.01 -1.2%
Blue Nile $49.97 $53.43 -$3.46 -6.5%
Charles & Colvard $1.33 $1.24 $0.09 7.3%
DGSE Companies, Inc. $1.46 $1.43 $0.03 2.1%
Fuqi International $16.03 $16.90 -$0.87 -5.1%
JCPenney $25.15 $24.81 $0.34 1.4%
Kohl's $50.07 $50.50 -$0.43 -0.9%
LJ International $2.29 $2.33 -$0.04 -1.7%
Macy's $16.66 $15.76 $0.90 5.7%
Man Sang $2.15 $2.14 $0.01 0.5%
Movado Group $10.39 $10.92 -$0.53 -4.9%
Nordstrom $35.11 $34.85 $0.26 0.7%
Saks $6.44 $6.50 -$0.06 -0.9%
Signet $27.43 $27.31 $0.12 0.4%
Sotheby's $22.92 $23.34 -$0.42 -1.8%
Tiffany $40.00 $40.75 -$0.75 -1.8%
Walmart $52.97 $52.64 $0.33 0.6%
Zale $2.06 $2.23 -$0.17 -7.6%

EUROPE
Bulgari €5.60 €5.81 -€0.21 -3.6%
Bijou Brigitte €138.10 €132.55 €5.55 4.2%
Damiani €0.98 €1.00 -€0.02 -2.0%
LVMH €77.96 €78.11 -€0.15 -0.2%
PPR €85.79 €87.80 -€2.01 -2.3%
Richemont SA CHF 36.17 CHF 36.25 -CHF 0.08 -0.2%
Swatch Group CHF 274.30 CHF 278.50 -CHF 4.20 -1.5%
Theo Fennell (pence) 45.00 49.00 -4.00 -8.2%

INDIA (rupee)
Classic Diamond 21.50 20.90 0.60 2.9%
Gitanjali Gems 117.05 114.00 3.05 2.7%
Goldiam Int'l 43.60 44.95 -1.35 -3.0%
Rajesh Exports 108.55 95.50 13.05 13.7%
Ren. Jewellery 67.15 57.80 9.35 16.2%
Su-Raj Diamonds 47.85 46.35 1.50 3.2%
Titan 1,700.75 1,520.85 179.90 11.8%
Zodiac JRD 24.35 24.65 -0.30 -1.2%
Suashish Diamonds 298.00 308.65 -10.65 -3.5%

NEW ZEALAND
Michael Hill NZD 0.68 NZD 0.69 -NZD 0.01 -1.4%

MINING STOCKS
CANADA
Harry Winston CAD 9.82 CAD 10.40 -CAD 0.58 -5.6%
Lucara Diamond CAD 1.02 CAD 1.02 CAD 0.00 0.0%
Mountain Province CAD 2.25 CAD 2.37 -CAD 0.12 -5.1%
Peregrine Diamonds CAD 1.69 CAD 1.52 CAD 0.17 11.2%
Rockwell Diamonds CAD 0.07 CAD 0.07 CAD 0.00 0.0%
Shore Gold CAD 0.85 CAD 0.90 -CAD 0.05 -5.6%
Stornoway Diamond CAD 0.46 CAD 0.53 -CAD 0.07 -13.2%
True North Gems CAD 0.09 CAD 0.10 -CAD 0.01 -10.0%
UK (pence)
African Diamonds 42.50 43.00 -0.5 -1.2%
Anglo American 2,280.50 2,300.00 -19.5 -0.8%
BHP Billiton 1,853.50 1,842.50 11.0 0.6%
Firestone Diamonds 41.95 41.25 0.7 1.7%
Gem Diamonds 245.00 222.00 23.0 10.4%
Gemfields 5.38 5.38 0.0 0.0%
Mwana Africa 12.90 13.83 -0.9 -6.7%
Namakwa Diamonds 39.00 38.50 0.5 1.3%
Petra Diamonds 51.75 52.00 -0.3 -0.5%
Rio Tinto plc 3,094.00 3,053.50 40.5 1.3%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RapUp February 12, 2010


Tight rough supplies encourage continued speculation that is spreading to polished markets. While some optimism is warranted given steady increases in trading volume, higher prices may not be sustainable. Strong demand for rough ahead of Feb. sights as aggressive Indian buyers and shortages fuel higher prices. De Beers posts 2009 net loss of $743m, production -49% to 24.6m cts., DTC sales -45% to $3.3b. Rio Tinto 2009 diamond revenues -46% to $450m, net loss of $68m vs. profit of $137m in 2008. BHP Billiton 1H diamond revenues +76% to $383m, earnings (EBIT) rise to $174m vs. $15m. U.S. Dec. polished diamond imports +23% to $1.2b, full year ‘09 polished imports -34% to $12.5b. Belgium Jan. polished diamond exports +16% to $648m, rough imports +66% to $764m. The Rapaport Group wishes our Chinese customers a prosperous New Year.



RapNet Data: February 12, 2010

Diamonds 610,743

Value $4,003,262,787

Carats 701,910

Average Discount -32.75%






Get Current Price List | Subscribe to Rapaport | Join RapNet



ANNOUNCEMENTS


February
22-26
Mon-Fri

Rapaport Polished Diamond Tender
New York

Polished round and fancy diamonds ranging in size from -2.5 sieve plate to 1ct +. Qualities vary from commercial to very fine including some breakout assortments. Excellent buying opportunity for diamond and jewelry manufacturers.

By Appointment Only

Contact: Myles Schakler
Email: NYTender@diamonds.net
Phone: 1-212-354-9800

February
26
Fri
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Bangkok

2 p.m. - 4 p.m.
4th Bangkok Gems & Jewelry Fair
Challenger Hall of Impact Convention Center
Bangkok, Thailand
Reserve your place: thailand@rapaport.com


March
7
Sun
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Hong Kong

11:00 a.m. - 12:00 p.m.
Hong Kong International Jewellery Show
Hong Kong Convention & Exhibition Center
Wanchai, Hong Kong
Reserve your place: hongkong@rapaport.com




QUOTE OF THE WEEK:
Without the upturn in gas spending, the recovery of retail sales over the past several months looks a lot more tentative. January was generally a slower month than December, which saw a strong pick up in holiday related spending. Although the pace of retail sales growth slowed, it still follows a general trend of improving longer-term growth rates for retail spending.

Kamalesh Rao | SpendingPulse






INDUSTRY


Chiadzwa Diamond Consignment Disappears

A consignment of diamonds from Zimbabwe's Chiadzwa diamond field disappeared after being removed from the central bank by the police. This confiscation marked the latest incident in the long-running legal dispute between African Consolidated Resources (ACR) and the country's mines minister, Obert Mpofu, over the ownership of the Chiadzwa claims in eastern Zimbabwe. The Supreme Court ruled that ACR's claims were valid in September, but that ruling became unclear when a statement was issued in January, overturning the decision.

The missing rough diamonds, held in three strongboxes, were part of a much larger collection of diamonds that were mined by ACR before the company was evicted from Chiadzwa and after that, by the state-owned Zimbabwe Mining Development Corporation (ZMDC) until late 2009.






Blood Diamonds Cast Shadow Over Valentine's Day

Diamonds mined illegally in conflict zones are still finding their way onto the international market and being sold in cities such as London, New York and Paris, Global Witness warned. The continued existence of "blood diamonds" poses a serious problem for consumers looking to demonstrate their love with a diamond ring this Valentine’s Day.

“Consumer pressure will be vital to ensure that the diamond industry finally acts to eliminate conflict diamonds once and for all,” said Elly Harrowell, a campaigner at Global Witness. “Some progress has been made in recent years, but the unpalatable truth is that around the world, civilians are still suffering terribly as a consequence of the diamond trade.”

One significant challenge currently facing the industry is posed by Zimbabwe, which, despite evidence of widespread human rights abuses and a military presence at the mines, remains a Kimberley Process (KP) member and continues to export diamonds.

“Kimberley Process members need to get serious about stamping out the systematic abuse of civilians in countries like Zimbabwe; otherwise, the credibility of the whole scheme will be undermined,” Harrowell stated. “They will be more inclined to act if they hear a strong message from retailers and consumers that continued links with such violence will no longer be tolerated.”








UN Urges Calm in Cote d'Ivoire

The UN deplored recent violence in Katiola and Divo, Cote d'Ivoire, where voter registration is currently underway for the March presidential election. The UN peacekeeping mission in Cote d'Ivoire, UNOCI, appealed for calm during the preparation of the final voters list, a vital step in the process of holding the long-delayed presidential polls. The UN Security Council pledged to review diamond sanctions only after a free and fair presidential election had been held in Cote d'Ivoire. The election has been postponed numerous times in the past four years.









RETAIL


Rapaport Broadcast

What were the important online marketing trends of 2009? To answer that question, metrics firm comScore recently released its annual findings on the ever-changing virtual world of branding and marketing. While e-commerce sales fell slightly during the year, brands made great progress toward tapping into an evolving virtual landscape, led by social media and videos. WATCH NOW

According to comScore, the year ahead will be characterized by the increased use of mobile technology, stronger applications of social media websites and the continued growth of online video channels, especially given the rise of niche market players. Stay on top by creating content that adapts to mobile phone devices, utilizing content and applications that ensure both real-time and specific vertical results, and employing cutting-edge targeting techniques to place your brand before an online audience.







U.S. Weekly Chain-Store Sales +2%

Super Bowl Sunday preparations boosted chain-store sales this past week as U.S. shoppers hit grocery stores ahead of game day, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Overall, comparable chain-store sales in the U.S. rose 1.8 percent compared with one year ago. Same-store sales rose 1.4 percent from the previous week. ICSC Research is anticipating that sales will increase by 2 percent for the month of February due mainly to easy year-over-year comparisions and an improving underlying retail economy.








U.S. Retail Sales Soften in Jan.

U.S. retail sales were flat for January when gasoline and automobile sales were removed from the retail sales mix, according to MasterCard Advisors’ SpendingPulse report. When the same calculation was performed for December 2009, the results reflected an increase of 2.1 percent.

For the third consecutive month, retail figures in January continued to follow a general trend of "modestly improving long-term growth" and that some of the apparent chill at the counter was a result of the spending levels against which January’s data were being compared.








Blue Nile 4Q Sales +20%, Profits +55%

Blue Nile's fourth quarter sales rose 20 percent to $102.9 million and cost of sales rose 18 percent to $80.6 million. Net income for the fourth quarter rose 55 percent to $5.4 million. As a percent of net sales, gross profit improved 110 basis points to 21.7 percent. International sales during the fourth quarter rose 70 percent to $11.7 million and U.S. sales rose 16 percent to $91.2 million.

Full year results reflected a net sales increase of 2 percent to $302.1 million, while cost of sales rose 0.6 percent to $236.8 million. Profits rose 10 percent to $12.8 million. International sales rose 20 percent to $33.2 million, while U.S. sales rose 0.4 percent to $268.9 million.









Swatch Group's Sales -9% in 2009

Swatch Group's net sales fell 9.4 percent to $4.82 billion in 2009. The company attributed the decline to its divestment from the Sokymat and Michel automotive businesses. The group's net income dropped 9 percent to $715 million, while its watch and jewelry sales were down by 7.9 percent to $3.93 billion.








Zale Hires Retail Advisory Company

Zale Corporation hired financial advisor Peter J. Solomon Company to help it identify how its financial position can be strengthened. The move comes one month after Zale’s board fired chief executive Neal Goldberg in the wake of reporting disappointing Christmas sales. Zale saw its sales decline 15 percent to $494 million through November and December 2009, as many of its competitors in the U.S. recorded sales increases. In an effort to raise cash, the company reportedly requested that diamond merchants and other vendors purchase some of its old inventory in exchange for their assurances of future orders.









Hearts on Fire to Close Accounts

The Hearts on Fire brand will close a number of its underperforming retail accounts in order to consolidate and strengthen its family of independent retail jewelers. More than 120 locations will be closed as the company's focus turns to retail partners that can "best represent the complete Hearts on Fire brand experience in both product offering and brand presentation." Positioning itself in this manner also enables the retailer to place the Hearts on Fire brand in a new group of strategically defined accounts in order to complement the existing 650 locations around the world.








eBay, Brides Magazine Promote 'Build Your Bling'

Auction website eBay, in conjunction with Brides magazine, launched a joint U.S. contest titled "Build Your Bling." The personal designs submitted by participants will afford one the opportunity to win a diamond and ring of his or her own design with a value of up to $25,000. Contestants will configure their "dream diamond ring" using the eBay Diamond Ring Designer, which accesses the certified, conflict-free, loose diamonds and ring settings offered through eBay, according to the company.

Through the website's share function, the entrants can also encourage others to vote for their design through 50 social media channels. The winner of Build Your Bling will be determined by a public poll that culminates on February 19, 2010. The winner will be announced at diamonds.ebay.com on February 26. Two runners-up will be awarded an eBay gift card for $100.









Bidz.com Launches Private Retail Site

Jewelry auction website Bidz.com launched Modnique, www.modnique.com, as an exclusive, members-only shopping site. The website offers authentic, brand name merchandise and runs special sales events. Modnique's first sales event featured Ed Hardy men's and women's apparel.









GENERAL


Botswana Taps India For Diamond-Cutting Training

Botswana is seeking cutting and polishing training from Indian companies as part of its effort to develop beneficiation. Synergies between the two countries’ diamond industries should encourage more Indian firms to set up shop in Botswana, according to Dorcas Ana Kgosietsile, the country's High Commissioner to India. So far, two of the 16 Indian cutting operations in the country have established factories in Botswana and many currently have Indian employees training their workers in this skill.







WFDB Pays Tribute to Goldschmidt

The World Federation of Diamond Bourses (WFDB) paid tribute to the memory of the group's honorary life secretary Gerson Goldschmidt, who died in Antwerp on Monday, February 8, 2010 at the age of 89. Goldschmidt served two long terms as secretary-general of the WFDB, first from 1984 to 1986 and again from 1990 to 2002. Upon his retirement from the post, he was awarded the distinguished lifetime title.

In building a career as an industrial diamond dealer, Goldschmidt also became a leader in the Belgian diamond sector. He served as president of the Antwerpsche Diamantkring, the city's rough diamond exchange, from 1999 to 2003 and as vice president and treasurer from 1987 to 1999. He was a board member at the bourse from 1978 to 1999.





Weinman Leads 2010 WJA Board

The Women’s Jewelry Association (WJA) appointed Kendra Bridel Weinman incoming president. Weinman succeeds Yancy Weinrich of Luxury by JCK and JCK Las Vegas, who completed her two-year term. Weinman is the president of Luscious International and has a bachelor’s degree in business administration. She has more than 11 years of experience in the jewelry industry, including at Montblanc and Taché Jewelry, where she ran Taché’s luxury division. Weinman said that her main priority would be to add value to the WJA membership.











STATS


U.S. Dec. Polished Diamond Imports

For the month of December and full year (FY) 2009.

$Mil. Chng. FY $Mil. Chng.
Polished Imports $1,190 23% $12,450 -34%
Polished Exports $931 16% $9,700 -32%
Net Imports $256 58% $2,740 -42%

Rough Imports $37 28% $290 -61%
Rough Exports $68 400% $237 -39%
Net Imports ($31) $53 -85%

Diamond Acct. $225 29% $2,790 -45%








Belgium's Jan. Polished Diamond Exports

For month of January 2010:

$Mil. Chng.
Polished Exports $648 16%
Polished Imports $737 12%
Net Exports ($89) 10%

Rough Imports $764 66%
Rough Exports $817 168%
Net Imports ($53)

Diamond Acct. ($36) 86%











MINING


De Beers Posts Net Loss of $743M in 2009

De Beers reported a net loss of $743 million in 2009, compared with net earnings of $90 million for the previous year, due to the impairment of its Canadian mining assets. The diamond mining giant saw all of its numbers drop significantly during the year due to the strain exerted on the industry by the economic downturn. De Beers group sales fell 44 percent to $3.84 billion, with the rough sales conducted through its Diamond Trading Company (DTC) down 45 percent to $3.24 billion.

The De Beers Diamond Jewellers (DBDJ) retail segment saw its sales drop 30 percent during the year, while sales at Element Six, the company's industrial diamond business, fell 34 percent. De Beers did not report separate sales figures for its Diamdel unit, which supplies rough to nonsightholders.

Net earnings before once-off items, such as impairment charges, fell to a loss of $37 million from a profit of $294 million in 2008, while the company's earnings before interest, taxation, depreciation and amortization (EBITDA) decreased by 46 percent to $654 million. De Beers created a provision of $696 million for the impairment of its Snap Lake and Victor mines, which were launched in Canada in 2008. Other one-off items included $25 million toward restructuring its debt, sinking the company's net earnings deep into the red.








BHP Billiton's Diamond Revenues +76%

BHP Billiton's first-half revenue from its diamond operations grew by 76 percent to $383 million. The rise was the result of the higher prices realized for diamonds mined at the company's Ekati mine in Canada. The diamond unit’s earnings before interest and tax jumped to $174 million from $15 million in the same period a year earlier, with the higher revenues and better cost efficiencies at Ekati driving this improvement. BHP Billiton noted that lower spending on exploration activities also boosted its earnings by $19 million. The company's production rose by 13 percent to 1.54 million carats during the half year.








Rio Tinto’s Diamond Revenues -46% in 2009

Rio Tinto's gross sales revenues from its diamond operations fell 46 percent to $450 million in 2009 as the price of — and demand for — diamonds remained severely impacted by the economic downturn. The group’s diamond unit recorded a net loss of $68 million for the year, compared with net earnings of $137 million in 2008.
Total production fell 33 percent to 14.026 million carats as the company temporarily shut down its Argyle and Diavik mines during the year “to balance production with market demand,” according to the statement.

Rio Tinto’s Murowa diamond mine in Zimbabwe has the capacity to increase its production sixfold, however. The company's diamonds and minerals chief executive, Harry Kenyon-Slaney, has pledged support for the project. Murowa’s production fell 53 percent to 97,000 carats in 2009. The group holds a 78 percent stake in the operation, with Zimbabwe acting as a minority shareholder.










ECONWATCH


For the week ending Feb. 11, 2010:

Feb. 11 Feb. 4 Chng.
$1 = Euro 0.730 0.727 0.003
$1 = Rupee 46.49 46.57 -0.1
$1 = Israel Shekel 3.74 3.71 0.03
$1 = Rand 7.69 7.55 0.14
$1 = Canadian Dollar 1.05 1.07 -0.02

Precious Metals
Gold $1,094.10 $1,062.40 $31.70
Platinum $1,523.00 $1,505.00 $18.00

Stock Indexes Chng.
BSE 16,152.59 16,224.95 -72.36 -0.4%
Dow Jones Avg. 10,114.19 10,002.18 112.01 1.1%
FTSE 5,161.48 5,139.31 22.17 0.4%
Hang Seng 20,290.69 20,341.64 -50.95 -0.3%
S & P 500 1,078.47 1,063.11 15.36 1.4%
Yahoo! Jewelry Index 949.71 917.12 32.59 3.6%

USA
Birks & Mayors $0.63 $0.81 -$0.18 -22.2%
Blue Nile $52.56 $49.97 $2.59 5.2%
Charles & Colvard $1.39 $1.33 $0.06 4.5%
DGSE Companies, Inc. $1.68 $1.46 $0.22 15.1%
Fuqi International $16.99 $16.03 $0.96 6.0%
JCPenney $24.79 $25.15 -$0.36 -1.4%
Kohl's $49.44 $50.07 -$0.63 -1.3%
LJ International $2.32 $2.29 $0.03 1.3%
Macy's $17.13 $16.66 $0.47 2.8%
Man Sang $2.05 $2.15 -$0.10 -4.7%
Movado Group $11.44 $10.39 $1.05 10.1%
Nordstrom $33.81 $35.11 -$1.30 -3.7%
Saks $6.68 $6.44 $0.24 3.7%
Signet $27.37 $27.43 -$0.06 -0.2%
Sotheby's $23.34 $22.92 $0.42 1.8%
Tiffany $41.54 $40.00 $1.54 3.9%
Walmart $53.08 $52.97 $0.11 0.2%
Zale $1.94 $2.06 -$0.12 -5.8%

EUROPE
Bulgari €5.53 €5.60 -€0.07 -1.2%
Bijou Brigitte €141.40 €138.10 €3.30 2.4%
Damiani €0.96 €0.98 -€0.02 -2.0%
LVMH €77.58 €77.96 -€0.38 -0.5%
PPR €84.59 €85.79 -€1.20 -1.4%
Richemont SA CHF 35.46 CHF 36.17 -CHF 0.71 -2.0%
Swatch Group CHF 293.50 CHF 274.30 CHF 19.20 7.0%
Theo Fennell (pence) 44.00 45.00 -1.00 -2.2%

INDIA (rupee)
Classic Diamond 20.70 21.50 -0.80 -3.7%
Gitanjali Gems 120.85 117.05 3.80 3.2%
Goldiam Int'l 43.65 43.60 0.05 0.1%
Rajesh Exports 104.90 108.55 -3.65 -3.4%
Ren. Jewellery 67.75 67.15 0.60 0.9%
Su-Raj Diamonds 49.60 47.85 1.75 3.7%
Titan 1,734.30 1,700.75 33.55 2.0%
Zodiac JRD 26.45 24.35 2.10 8.6%
Suashish Diamonds 301.20 298.00 3.20 1.1%

NEW ZEALAND
Michael Hill NZD 0.68 NZD 0.68 NZD 0.00 0.0%

MINING STOCKS
CANADA
Harry Winston CAD 10.61 CAD 9.82 CAD 0.79 8.0%
Lucara Diamond CAD 1.01 CAD 1.02 -CAD 0.01 -1.0%
Mountain Province CAD 2.27 CAD 2.25 CAD 0.02 0.9%
Peregrine Diamonds CAD 1.64 CAD 1.69 -CAD 0.05 -3.0%
Rockwell Diamonds CAD 0.08 CAD 0.07 CAD 0.01 14.3%
Shore Gold CAD 0.99 CAD 0.85 CAD 0.14 16.5%
Stornoway Diamond CAD 0.50 CAD 0.46 CAD 0.04 8.7%
True North Gems CAD 0.09 CAD 0.09 CAD 0.00 0.0%
UK (pence)
African Diamonds 49.50 42.50 7.0 16.5%
Anglo American 2,343.00 2,280.50 62.5 2.7%
BHP Billiton 1,901.50 1,853.50 48.0 2.6%
Firestone Diamonds 39.00 41.95 -3.0 -7.0%
Gem Diamonds 248.50 245.00 3.5 1.4%
Gemfields 5.05 5.38 -0.3 -6.1%
Mwana Africa 11.07 12.90 -1.8 -14.2%
Namakwa Diamonds 37.00 39.00 -2.0 -5.1%
Petra Diamonds 53.45 51.75 1.7 3.3%
Rio Tinto plc 3,216.00 3,094.00 122.0 3.9%
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RapUp February 19, 2010


De Beers raises rough prices again (about 7% in Feb. and 10% so far this year) and signals they are not planning further increases barring major market changes. Rough dealers celebrating as speculative spiral continues with big stone bubbles developing and spreading into polished. Starting to look like 2008. India’s Jan. polished exports +96% to $1.7b, rough imports +302% to $876m. Israel’s Jan. polished exports +84% to $563m, total rough and polished imports +257% to $505m. Martin Rapaport to present “The Diamond Decade – New Opportunities” Bangkok - Feb. 26; Hong Kong - Mar. 7.



RapNet Data: February 19, 2010

Diamonds 624,644

Value $4,080,730,019

Carats 715,387

Average Discount -32.33%






Get Current Price List | Subscribe to Rapaport | Join RapNet



ANNOUNCEMENTS


February
19-22
Fri-Mon
Rapaport at Inhorgenta Europe
New Munich Trade Fair Centre
Hall C, Booth 401
Munich, Germany
For information contact Francesco Lopresti:
+39-02-40047274 or email francesco.lopresti@diamonds.net



Feb-Mar
22-4
Mon-Thu

Rapaport Tender Auctions
New York

Melee Auction -- Feb. 22-26
Polished round and fancy diamonds ranging in size from -2.5 sieve plate to 1ct +. Qualities vary from commercial to very fine including some breakout assortments. Excellent buying opportunity for diamond and jewelry manufacturers.

Single Stone Auction -- Mar. 1-4
Certified and non-certified diamonds ranging in sizes 0.5ct through 5ct +. Excellent buying opportunities for retailers, wholesalers, and diamond manufacturers.

Both By Appointment Only

Contact: Jackie Chan
Email: NYTender@diamonds.net
Phone: 1-212-354-9800


February
26
Fri
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Bangkok

2 p.m. - 4 p.m.
4th Bangkok Gems & Jewelry Fair
Challenger Hall of Impact Convention Center
Bangkok, Thailand
Reserve your place: thailand@rapaport.com


March
7
Sun
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Hong Kong

11:00 a.m. - 12:30 p.m.
Hong Kong International Jewellery Show
Hong Kong Convention & Exhibition Center
Wanchai, Hong Kong
Reserve your place: hongkong@rapaport.com

March
18-25
Thu-Thu
Rapaport at Baselworld 2010

"State of the Diamond Industry"
Martin Rapaport Presentation
Friday, March 19
9:30 a.m.-11 a.m.

Rapaport Fair Trade Conference
Friday, March 19
2 p.m.-4 p.m.

Rapaport Booth
March 18-25
Messe Basel
Hall 3.1 Stand F01

For information contact Francesco Lopresti:
+39-02-40047274 or email francesco.lopresti@diamonds.net





QUOTE OF THE WEEK:
Clearly, it would be premature to say that the period of uncertainty is over, but the industry does appear to be moving in the right direction. [Diamond Trading Company] sights in [the second half of] 2009 and into 2010 have seen demand consistently increase and we are confident that this trend will continue throughout 2010.

Mahiar Borhanjoo | DTC exec. director of sales, sightholder services






INDUSTRY


De Beers Raises Prices Nearly 10%

De Beers sales division, Diamond Trading Company (DTC), increased its prices by 7 percent to 9 percent at this week’s February sight, but said that it expects prices to remain stable in the short term. Based upon the company's assessment of prevailing market conditions, there have been "some incremental adjustments to DTC box prices over the past few sights and a further and higher single-digit increase for sight 2,” Mahiar Borhanjoo, DTC’s executive director of sales and sightholder services, explained in a letter to sightholders. “We now anticipate a period of stability in respect of our prices, subject, of course, to any further major changes in market conditions.”

The DTC has been able to adjust its prices recently due to the more positive economic and supply-demand developments that have been observed in the market of late, Borhanjoo added. Reports from BHP Billiton customers indicated that prices rose by an average of 3 percent at the company’s rough tender this past week.






Mugabe Threatens to Defy Kimberley Process

Zimbabwe's President Robert Mugabe threatened to defy the Kimberley Process (KP) and sell diamonds from the country's Marange diamond fields, where the KP alleges that the military enacted forced labor and other abuses against civilians. The KP has given Zimbabwe until June to rectify these abuses, but Mugabe nonetheless threatened to sell the diamonds without the watchdog's permission.

"We are trying to play it their own way; that is, following the KP, but we can do it otherwise," Mugabe told reporters in the capital. "We can sell our own diamonds elsewhere."






Gokhran to Tender Special Size Diamonds

Russia’s state repository, Gokhran, plans to tender special size rough diamonds that are larger than 10.8 carats on March 16. Applications to participate in the tender close on February 26. Gokhran purchased approximately $924 million worth of rough diamonds from ALROSA in 2009 and is reportedly planning to buy around $872 million worth this year.









RETAIL


Rapaport Broadcast

WATCH NOW. Chain-store sales fell slightly this past week; De Beers results were of little surprise given market conditions and investors were not pleased with "good enough" results from Blue Nile, even though the online diamond retailer posted double-digit increases for the fourth quarter. It is important to keep tabs on consumer sentiment, given the mixed economic messages in the U.S. The latest Gallup polls suggest that consumer spending and the overall economic outlook remain fairly stagnant; many indicators have not moved much since April 2009.





Jan. U.S. Retail Sales Drop

The National Retail Federation (NRF) reported that U.S. retail sales, excluding automobile, gas station and restaurant sales, fell 0.2 percent during January 2010 compared with one year ago. January sales rose 0.5 percent over their December 2009 level, however.

“We continue to see the economy show subtle signs of improvement,” said Rosalind Wells, the chief economist for NRF. “While the recovery still has a long way to go, we remain encouraged by the latest retail sales figures.”

This January, retailers offered special deals designed to entice shoppers to hit their stores and use the gift cards they received for Christmas to stock up on clearance items.






Verragio's Facebook Fans Name New Bridal Collection

Bridal jewelry designer Verragio reached out to its fan base on Facebook, offering them the opportunity to vote on the name of its new collection of engagement rings and wedding bands. In one week of voting, Verragio's fans overwhelmingly selected “Evermore” as the name of this new collection. The Evermore Collection of engagement rings will officially launch in the spring, joining Verragio's other distinct collections, such as Couture, Insignia, Classico and Paradiso.











GENERAL


U.S. Indicts Bout, Chichakli

The U.S. issued a new indictment against Viktor — also known as Victor — Bout, who, according to the United Nations Security Council (UNSC) Sanctions Committee on Liberia, supported former President Charles Taylor's regime in an effort to destabilize Sierra Leone and gain illicit access to its diamonds. Bout has been in custody in Thailand since March 2008. Since that time, the U.S. has actively pursued his extradition on a separate set of arms-related allegations.

The new indictment also named Bout's associate, Richard Ammar Chichakli — also known as Robert Cunning and Raman Cedorov — for allegedly conspiring to violate the International Emergency Economic Powers Act (IEEPA), based on their combined efforts to purchase two aircrafts from companies located in the U.S. The indictment charged Bout and Chichakli with money laundering conspiracy, wire fraud conspiracy and six separate counts of wire fraud in connection with these financial transactions.






Israeli Industry to Offer Largest Pavilion at HK Show

The Israeli diamond industry will boast its largest presence to date at the upcoming Hong Kong International Jewellery Show to be held from March 5 to March 9, 2010. The Israel Diamond Pavilion, organized by the Israel Diamond Institute Group of Companies (IDI), will be the largest national pavilion, featuring 60 companies, 20 of whom will be exhibiting for the first time. In addition, 20 more Israeli companies will be exhibiting at various show locations.

The unprecedented participation from Israeli companies attests to the local industry's overwhelming interest in expanding its business within the Asian markets. The Israel Diamond Pavilion will located in Hall 3F at the show, while IDI’s information booth, 3FF29 will be situated in the heart of the pavilion. Learn more about the exhibitors.






AWDC Links Buyers with HK Show Exhibitors

The Antwerp World Diamond Centre (AWDC) launched a dedicated and interactive website for the March 2010 Hong Kong show that features exhibitors from Belgium. The website provides users the ability to reach out to exhibitors along with providing an interactive map of the Hong Kong Convention & Exhibition Centre and the exact location of 55 participating Antwerp firms. Log on now to view company profiles and schedule appointments.






GIA Names Winners of Schuetz Design Contest

Sung Woo Hong of Seoul, Korea, took the first-place prize in the Gemological Institute of America's (GIA) annual George A. Schuetz Jewelry Design Contest. Hong designed a tie tack and cuff links set made of emerald-cut, tapered sapphires and radiant, princess-cut diamonds in 18-karat yellow gold. The first prize award is $500 and a crystal trophy.

The second place award went to Joana Miranda of Glendale, Wisconsin, for her “Dog Tags with Hidden Pico Drive.” Her design used polished white metal, channel-set rubies and a black onyx inlay. Miranda received a crystal trophy in recognition of her achievement. Amit B. Kurdekar of Mumbai, India was awarded third place for a men’s ring made of enamel and 24-karat white and yellow gold.






Nielsen Jewelry Appoints Landis to Run Couture

Joan Landis was hired by Nielsen Expositions’ Jewelry Group to run the company's upcoming Couture show. The Couture Show celebrates its 15th year from June 3 through June 7, 2010 at the Las Vegas Wynn Hotel.






JCK Awards Grant to DDII

The JCK Industry Fund awarded a grant to the Diamond Development Initiative International (DDII). The funds will be used by DDII to create development diamond standards intended to comprise a verifiable certification system for artisanally mined diamonds.

The standards will be utilized to address industry issues, formalize the artisanal sector and serve as a foundation to enhance the effectiveness of the Kimberley Process (KP). Development standards could also enable artisanal diggers to play active roles as agents of change within their own communities.










STATS


India Imports & Exports

For month of January 2010:

$Mil. Chng.
Polished Exports $1,710 95%
Polished Imports $1,034 63%
Net Exports $673 141%

Rough Imports $876 302%
Rough Exports $59 2%
Net Imports $817 417%

Diamond Acct. ($144) NA







Israel's Jan. Polished Diamond Exports

For month of January 2010:

$Mil. Chng.
Polished Exports $563 84%
Polished Imports NA NA
Net Exports NA NA

Rough Imports NA NA
Rough Exports $303 215%
Net Imports NA NA

Diamond Acct. NA NA











MINING


ALROSA's 2009 Output Falls Slightly

Unaudited production results from ALROSA revealed that its rough diamond output fell slightly to $2.265 billion in 2009, whereas the miner's production totaled more than $2.3 billion in 2008. These results were shared during an executive board meeting held on February 12. In December 2009, ALROSA estimated that its rough sales for 2009 would amount to about $2.13 billion, but the final report has not yet been released.

Russia's cut and polished diamond output has dropped more than three-quarters in the past three years as demand has dwindled. The country's production neared $1.2 billion in 2006 and 2007, but in 2009, that figure dropped closer to $330 million. Russia's diamond cutters have the potential to raise their output in 2010; however, this potential is dependent on the level of global demand for diamonds.






Pangea DiamondFields Sale Nets $160 per Carat

Pangea DiamondFields sold 2,813 carats this past week in Luanda, Angola for an average price of $160 per carat before sales tax. This per-carat amount comprised approximately 89 percent of Pangea's long-term target price of $180 per carat. The target price was set prior to the drop in rough diamond prices that occurred during 2009. Pangea stated that the average price achieved for the goods it sold in Angola was "well in excess of the currently budgeted level of $140 per carat."






Zimbabwe Cancels ACR's Marange Licenses

Zimbabwe has canceled African Consolidated Resources' (ACR) mining licenses to the Marange diamond fields, the company's lawyer said on Tuesday. The decision to cancel ACR's licenses came days after the government unveiled new regulations designed to force foreign firms to give locals a majority stake in major corporations.

ACR has been embroiled in a legal battle with mining authorities since it was ordered to suspend its operations in Marange in 2006. The minefields then fell into illegal mining activity, including that conducted by foreign nationals. Security agents used brute force to evict the diamond panners, resulting in deaths and serious injuries. In January, the Supreme Court ordered the country's central bank to keep the 129,400 carats of diamonds seized from ACR in 2007, but that decision was also reversed.

This week, the Supreme Court ruled that the diamond mining being conducted at the disputed claims by the government's partners, Mbada Diamonds Ltd. and Candile Miners Pvt., must cease until appeals are heard.










ECONWATCH


For the week ending Feb. 18, 2010:

Feb. 18 Feb. 11 Chng.
$1 = Euro 0.736 0.730 0.006
$1 = Rupee 46.17 46.49 -0.3
$1 = Israel Shekel 3.75 3.74 0.01
$1 = Rand 7.61 7.69 -0.08
$1 = Canadian Dollar 1.04 1.05 -0.01

Precious Metals
Gold $1,122.50 $1,094.10 $28.40
Platinum $1,528.00 $1,523.00 $5.00

Stock Indexes Chng.
BSE 16,327.84 16,152.59 175.25 1.1%
Dow Jones Avg. 10,392.75 10,114.19 278.56 2.8%
FTSE 5,325.09 5,161.48 163.61 3.2%
Hang Seng 20,422.15 20,290.69 131.46 0.6%
S & P 500 1,106.75 1,078.47 28.28 2.6%
Yahoo! Jewelry Index 990.41 949.71 40.70 4.3%

USA
Birks & Mayors $0.68 $0.63 $0.05 7.9%
Blue Nile $49.56 $52.56 -$3.00 -5.7%
Charles & Colvard $1.42 $1.39 $0.03 2.2%
DGSE Companies, Inc. $1.61 $1.68 -$0.07 -4.2%
Fuqi International $17.32 $16.99 $0.33 1.9%
JCPenney $26.00 $24.79 $1.21 4.9%
Kohl's $51.38 $49.44 $1.94 3.9%
LJ International $2.49 $2.32 $0.17 7.3%
Macy's $18.19 $17.13 $1.06 6.2%
Man Sang $2.00 $2.05 -$0.05 -2.4%
Movado Group $12.63 $11.44 $1.19 10.4%
Nordstrom $35.03 $33.81 $1.22 3.6%
Saks $6.99 $6.68 $0.31 4.6%
Signet $28.95 $27.37 $1.58 5.8%
Sotheby's $24.33 $23.34 $0.99 4.2%
Tiffany $43.31 $41.54 $1.77 4.3%
Walmart $53.34 $53.08 $0.26 0.5%
Zale $1.87 $1.94 -$0.07 -3.6%

EUROPE
Bulgari €5.89 €5.53 €0.36 6.5%
Bijou Brigitte €139.50 €141.40 -€1.90 -1.3%
Damiani €0.95 €0.96 -€0.01 -1.0%
LVMH €79.60 €77.58 €2.02 2.6%
PPR €85.55 €84.59 €0.96 1.1%
Richemont SA CHF 36.76 CHF 35.46 CHF 1.30 3.7%
Swatch Group CHF 298.60 CHF 293.50 CHF 5.10 1.7%
Theo Fennell (pence) 45.00 44.00 1.00 2.3%

INDIA (rupee)
Classic Diamond 21.55 20.70 0.85 4.1%
Gitanjali Gems 121.50 120.85 0.65 0.5%
Goldiam Int'l 42.75 43.65 -0.90 -2.1%
Rajesh Exports 100.95 104.90 -3.95 -3.8%
Ren. Jewellery 71.25 67.75 3.50 5.2%
Su-Raj Diamonds 49.50 49.60 -0.10 -0.2%
Titan 1,825.35 1,734.30 91.05 5.2%
Zodiac JRD 24.95 26.45 -1.50 -5.7%
Suashish Diamonds 303.50 301.20 2.30 0.8%

NEW ZEALAND
Michael Hill NZD 0.69 NZD 0.68 NZD 0.01 1.5%

MINING STOCKS
CANADA
Harry Winston CAD 11.35 CAD 10.61 CAD 0.74 7.0%
Lucara Diamond CAD 1.00 CAD 1.01 -CAD 0.01 -1.0%
Mountain Province CAD 2.18 CAD 2.27 -CAD 0.09 -4.0%
Peregrine Diamonds CAD 1.57 CAD 1.64 -CAD 0.07 -4.3%
Rockwell Diamonds CAD 0.07 CAD 0.08 -CAD 0.01 -12.5%
Shore Gold CAD 0.91 CAD 0.99 -CAD 0.08 -8.1%
Stornoway Diamond CAD 0.50 CAD 0.50 CAD 0.00 0.0%
True North Gems CAD 0.09 CAD 0.09 CAD 0.00 0.0%
UK (pence)
African Diamonds 45.37 49.50 -4.1 -8.3%
Anglo American 2,502.00 2,343.00 159.0 6.8%
BHP Billiton 2,016.00 1,901.50 114.5 6.0%
Firestone Diamonds 38.50 39.00 -0.5 -1.3%
Gem Diamonds 256.60 248.50 8.1 3.3%
Gemfields 5.40 5.05 0.4 6.9%
Mwana Africa 13.00 11.07 1.9 17.4%
Namakwa Diamonds 36.70 37.00 -0.3 -0.8%
Petra Diamonds 58.06 53.45 4.6 8.6%
Rio Tinto plc 3,441.00 3,216.00 225.0 7.0%










INDIA MARKET REPORT


Polished and rough trading activity
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
RAPAPORT NEWS SERVICE | FEBRUARY 26, 2010 www.rapaport.com | news@rapaport.com


Industry Retail Mining EconWatch India Jobs


RapUp February 26, 2010


February DTC sight estimate at $525m with slightly softer premiums. Rough price speculation may be easing although demand still strong. Cutters and polished dealers holding back goods in anticipation of better prices at Hong Kong show. ALROSA pledges to raise supplies to Indian manufacturers. Petra Diamonds 1H net profit of $38m vs net loss of $88m, revenues +48% to $48.4m. Jewelry retail sales reportedly +19% year over year through Chinese New Year Golden Week. Zale 2Q sales -14% to $582.3m, net profit of $6.7m vs. net loss of $32m. Gareth Penny appointed Debswana chairman, and David Noko to step down as managing director of De Beers Consolidated Mines.



RapNet Data: February 26, 2010

Diamonds 631,887

Value $4,096,120,288

Carats 726,410

Average Discount -32.44%






Get Current Price List | Subscribe to Rapaport | Join RapNet



ANNOUNCEMENTS


March
1-4
Mon-Thu

Rapaport Tender Auctions
New York

Single Stone Tender
Approximately 150 certified and non-certified diamonds ranging in sizes 0.5ct to 5ct +. Excellent buying opportunities for retailers, wholesalers, and diamond manufacturers.

By Appointment Only

Contact: Jackie Tan
Email: NYTender@diamonds.net
Phone: 1-212-354-9800


March
7
Sun
"The Diamond Decade: New Opportunities"
Martin Rapaport Presentation: Hong Kong

11:00 a.m. - 12:30 p.m.
Hong Kong International Jewellery Show
Hong Kong Convention & Exhibition Center
Wanchai, Hong Kong
Reserve your place: hongkong@rapaport.com

March
15-18
Mon-Thu

Rapaport Tender Auctions
New York

Diamond Melee Tender
Over 45,000cts of polished round and fancy diamonds ranging in size from -2.5 sieve plate to 1ct +. Qualities vary from commercial to very fine. Excellent buying opportunity for diamond and jewelry manufacturers.

By Appointment Only

Contact: Jackie Tan
Email: tenders@diamonds.net
Phone: 1-212-354-9800


March
18-25
Thu-Thu
Rapaport at Baselworld 2010

"State of the Diamond Industry"
Martin Rapaport Presentation
Congress Center/Montreal Hall
Friday, March 19
9:30 a.m.-11 a.m.

Rapaport Fair Trade Conference
Congress Center/Montreal Hall
Friday, March 19
1:30 p.m.-4 p.m.

Rapaport Booth
Messe Basel
Hall 3.1 Stand F01

For information contact basel@diamonds.net





QUOTE OF THE WEEK:
Economic recovery is driven by high earners benefiting from recovering stock markets. It's really an extraordinarily unbalanced system because we're dealing with small businesses who are doing badly, small banks in trouble, and of course there is an extraordinarily large proportion of the unemployed in the [U.S.] who have been out of work for more than six months and many more than a year. With housing and auto sales dead in the water, it would be difficult to make the case that the economy is poised for a strong rebound.

Alan Greenspan | Former U.S. Fed Chairman






INDUSTRY


DTC's Feb. Sight Estimated at $525M

The Diamond Trading Company's (DTC) February sight achieved an estimated value of $525 million. While the DTC, De Beers marketing and sales unit, had announced a price increase in the high single digits prior to the sight, the company also changed its assortment of goods to enable sightholders to profit on their boxes. Sight participants noted higher increases in the cheaper Indian goods, as well. Nonetheless, their comments were mixed, with some observers suggesting that De Beers left room for sightholders to profit and others saying that premiums were still inflated.

In February, when premiums were softer, buyers were willing to pay based on the existing scarcities in rough, one sightholder noted. Others disagreed, assuming that the large quantities of rough coming to the market reflected DTC’s commitments under sightholder’s intentions to offer (ITOs), rather than strong demand. Sightholders submitted their ITOs in 2009 at the height of the downturn, so DTC filled a large portion of their orders early in the contract period, according to a market participant. The March sight will comprise the final sale of the current ITOs.






U.S. Jewelry Prices +1% in Jan.

The consumer price index (CPI) for jewelry in the U.S. dropped slightly in January compared with its recent highs. The January reading of 155.92 points was 1.1 percent higher than the level achieved one year ago, but the CPI shed 4.6 points from the December 2009 reading.

This past month's measure marked the 24th consecutive cycle for which the jewelry CPI was higher than 150 points. The index is based upon the reference point of average prices in 1986, which is set at 100 points.






U.S. Consumer Confidence Weakens

U.S. consumer confidence remained poor in February, as the employment outlook offered no immediate hope for economic recovery. The Conference Board Consumer Confidence Index,&reg; which had shown signs of improvement in January, declined sharply in February to 46 points, down from 56.5 in January. One year ago, however, the measure hit a record low of 25.3 points.

The Conference Board's Present Situation Index decreased to 19.4 points in February, compared with 22.3 points one year ago, while the Expectations Index rose to 63.8 from 27.3 points one year ago. Lynn Franco, the director of The Conference Board, said that consumers were concerned about business conditions and the job market and that with fewer consumers anticipating an improvement, they would likely curb their spending.









RETAIL


Rapaport Broadcast

WATCH NOW. Zale's second-fiscal-quarter results were in line with the double-digit drops reported during the Christmas sales cycle. The retailer's revenue declined 14 percent to $582.3 million, while its cost of sales fell by 23 percent to $292.5 million, which helped it achieve a quarterly profit of $6.7 million, compared with a loss of $32 million one year ago. In this week's broadcast, see how Zale's figures have changed in the past five years. In other news, The Knot released the results of its annual wedding expense survey and while the average budget fell by 5 percent in 2009, planned spending on engagement rings remained consistent with the results of past surveys.






U.S. Chain-Store Sales +1%

U.S. chain-store sales rose 0.9 percent year over year this past week, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs, while improved weather conditions helped boost sales by 2.3 percent on a week-to-week basis.

Michael Niemira, ICSC's director of research and chief economist, said that sales volatility has been amplified by recent inclement weather conditions. However, he expects February's chain-store sales to reflect a 2 percent increase over 2009.






China's Spring Festival Sales +17%

China's retail sales rose 17.2 percent to $49.8 billion during the country's annual Golden Week, while jewelry sales rose 19.1 percent for the period. The weeklong Spring Festival holiday, which commenced on February 13, 2010, is China's closest equivalent to the Christmas shopping season.






Macao Jewelry, Watch Sales +33% in 2009

Macao's retail sales rose 16 percent to $2.8 billion during 2009. Notable increases were recorded in department store sales, which were up 41 percent, while watch, clock and jewelry sales rose 33 percent and adults' clothing jumped 25 percent. The sale of fuel for household and automotive use decreased by 24 percent and 22 percent, respectively, according to the government.






Thangamayil Launches IPO in India

Thangamayil Jewellery launched its initial public offering (IPO) on the National Stock Exchange (NSE) in India, where its shares opened at Rs 75.70. On the Bombay Stock Exchange (BSE), Thangamayil opened at Rs 70. Proceeds from the IPO will be used for retail expansion in India. Thangamayil trades and sells gold, platinum and diamond jewelry.






Charles & Colvard 4Q Sales -33%

Fiscal fourth quarter sales at Charles & Colvard fell 33 percent to $2.36 million, while total costs fell by only 2 percent to $2.8 million. The creator of moissanite reported a net loss of $440,150, which was quite an improvement from a loss of $1.25 million reported one year ago. Net sales for the full fiscal year fell 44 percent to $8.31 million, total costs dropped by 46 percent to $11.67 million, leaving the company with a net loss of $3.4 million. The loss reported for fiscal year 2008 was $6.15 million.










GENERAL


Noko to Step Down From De Beers

David Noko, the managing director of De Beers Consolidated Mines (DBCM), will step down after eight years with the company. Noko said that the time was right to step aside so that a new leader could move the company into its next phase of transformation.

Barend Petersen (pictured) will become DBCM's acting chief executive officer (CEO) at the beginning of April 2010 while the process of appointing the permanent CEO is finalized. Peteresen is a chartered accountant with broad business and commercial experience, as well as a nonexecutive director at Anglo American.






Debswana Names Penny New Board Chairman

Debswana named Gareth Penny its new chairman of the board. Penny, who serves as the managing director of De Beers, takes over the role from Eric Molale, the permanent secretary to Botswana's president. Molale will serve as Debswana's new deputy chairman, responsible for rotational arrangements between shareholders.





Major Fraud, Robbery Unfold

Two major crime stories broke this week in the U.S. In Manhattan, the owners of Dialite Imports on West 46th Street were charged with staging a $4 million robbery of their own offices on December 31, 2008. The owners reportedly planned the armed robbery and hired two men to perform the operation. The robbers, who remain at large, were dressed to appear Hasidic.

In California, thieves made off with $1 million in jewels from a San Juan Capistrano jewelry store after they dismantled the store security system. The robbery occurred either late Tuesday or early Wednesday at Mission Jewelers, marking the historic city's second $1 million jewelry theft in less than one year.






AGL to Conduct On-Site Testing in Hong Kong

American Gemological Laboratories (AGL) will be performing on-site testing of colored stones for identification, enhancement and origin reports March 5-9, during the Hong Kong Show. Staff members Christopher P. Smith and Sun Chung will be available to provide the same high-quality reporting services that are a staple of AGL's New York based operations. Stones will be accepted on a first-come, first-served basis, so make an appointment. 1.212.704.0727 or agl@aglgemlab.com










MINING


Petra Diamonds Posts $38M Profit for Fiscal 1H

Petra Diamonds' profits reached $37.9 million during the first fiscal half, compared with a net loss of $88 million one year ago. Profits from its mining activity fell 22 percent to $8 million as the company's mining and processing costs rose 72 percent to $40.5 million.

Revenues from its operations rose 48 percent to $48.4 million. Petra previously reported that its gross production grew 12 percent to 614,594 carats during the half year. The company also increased its cash position by more than sixfold on a year-to-year basis.






Gemfields Discovers 6,225-Carat Emerald

Gemfields uncovered an exceptional 6,225-carat rough emerald at its Kagem mine in Zambia. The stone has been named “Insofu,” which means “elephant” in the local vernacular of the indigenous Benda people.

Ian Harebottle, Gemfields' chief executive officer (CEO), said, “Its sheer size, rich color and fine protective biotite shell makes it difficult to see deep into the gem; however, all indications suggest that the core of the emerald is competent and that it should yield a number of cut gems of significant size.”






Rio Tinto Transitions Customers to RJC

Rio Tinto will open a representative office in Hong Kong and has appointed Rita Maltez to head the office. Maltez brings extensive marketing experience across a number of Rio Tinto products, combined with strong analytical skills and an in-depth involvement in the development of Rio Tinto's emerging-markets strategy for diamonds, according to the company.

Meanwhile, Rio Tinto’s Antwerp-based diamond sales and marketing organization announced that it will be working with its customers to ensure that they are certified members of the Responsible Jewellery Council (RJC) by 2011. When the RJC Code of Practices is implemented across Rio Tinto's entire customer channel, the miner will discontinue its own business excellence model (BEM) in its current form.






Lucara Parcel Valued at $162 per Carat

Lucara Diamond reported the results of a recent valuation performed for diamonds recovered from the AK6 kimberlite at its recently acquired Boteti project, located in the Orapa-Lethlakane diamond district of Botswana. This valuation of 1,760 carats of rough revealed that the stones had an overall value of $162 per carat.

Shlomo Tidhar of Mercury Diamonds, who performed the valuation, noted that the diamonds were of "very good quality and very attractive to diamond buyers." Their colors were generally very white and the samples showed numerous examples of strong, "blocky" crystal forms that tend to yield strong polished stone, which generate good premiums. Type IIA stones were also prominent in the parcel, including 12-plus-carat stones that had been broken into eight or more fragments.









ECONWATCH


Stellar Diamonds Trades on London's AIM

Stellar Diamonds was admitted to London's Alternative Investment Market (AIM) under the ticker symbol "STEL" (LON: STEL). Shares were offered for 20 pence each, with 25 million shares issued, which represents 26 percent of the company's share capital.

Just one week ago, West African Diamonds (WAD) shareholders approved a reverse takeover bid from Stellar Diamonds. As part of that takeover, WAD changed its corporate name to "Stellar" and its chairman and founder, John Teeling, stepped down from his post.





For the week ending Feb. 25, 2010:

Feb. 25 Feb. 18 Chng.
$1 = Euro 0.739 0.736 0.003
$1 = Rupee 46.50 46.17 0.3
$1 = Israel Shekel 3.80 3.75 0.05
$1 = Rand 7.88 7.61 0.27
$1 = Canadian Dollar 1.06 1.04 0.02

Precious Metals
Gold $1,105.80 $1,122.50 -$16.70
Platinum $1,530.00 $1,528.00 $2.00

Stock Indexes Chng.
BSE 16,254.20 16,327.84 -73.64 -0.5%
Dow Jones Avg. 10,322.02 10,392.75 -70.73 -0.7%
FTSE 5,278.23 5,325.09 -46.86 -0.9%
Hang Seng 20,399.57 20,422.15 -22.58 -0.1%
S & P 500 1,102.98 1,106.75 -3.77 -0.3%
Yahoo! Jewelry Index 1,003.05 990.41 12.64 1.3%

USA
Birks & Mayors $0.63 $0.68 -$0.05 -7.5%
Blue Nile $51.33 $49.56 $1.77 3.6%
Charles & Colvard $1.36 $1.42 -$0.06 -4.2%
DGSE Companies, Inc. $1.68 $1.61 $0.07 4.3%
Fuqi International $17.98 $17.32 $0.66 3.8%
JCPenney $28.00 $26.00 $2.00 7.7%
Kohl's $54.15 $51.38 $2.77 5.4%
LJ International $2.59 $2.49 $0.10 4.0%
Macy's $19.33 $18.19 $1.14 6.3%
Man Sang $2.95 $2.00 $0.95 47.5%
Movado Group $13.08 $12.63 $0.45 3.6%
Nordstrom $36.93 $35.03 $1.90 5.4%
Saks $7.24 $6.99 $0.25 3.6%
Signet $28.90 $28.95 -$0.05 -0.2%
Sotheby's $23.52 $24.33 -$0.81 -3.3%
Tiffany $43.69 $43.31 $0.38 0.9%
Walmart $54.19 $53.34 $0.85 1.6%
Zale $2.45 $1.87 $0.58 31.0%

EUROPE
Bulgari €5.63 €5.89 -€0.26 -4.4%
Bijou Brigitte €138.50 €139.50 -€1.00 -0.7%
Damiani €0.92 €0.95 -€0.03 -3.2%
LVMH €76.76 €79.60 -€2.84 -3.6%
PPR €81.55 €85.55 -€4.00 -4.7%
Richemont SA CHF 35.50 CHF 36.76 -CHF 1.26 -3.4%
Swatch Group CHF 293.80 CHF 298.60 -CHF 4.80 -1.6%
Theo Fennell (pence) 44.00 45.00 -1.00 -2.2%

INDIA (rupee)
Classic Diamond 20.30 21.55 -1.25 -5.8%
Gitanjali Gems 115.95 121.50 -5.55 -4.6%
Goldiam Int'l 46.40 42.75 3.65 8.5%
Rajesh Exports 101.60 100.95 0.65 0.6%
Ren. Jewellery 71.15 71.25 -0.10 -0.1%
Su-Raj Diamonds 47.10 49.50 -2.40 -4.8%
Titan 1,722.70 1,825.35 -102.65 -5.6%
Zodiac JRD 23.95 24.95 -1.00 -4.0%
Suashish Diamonds 298.00 303.50 -5.50 -1.8%

NEW ZEALAND
Michael Hill NZD 0.71 NZD 0.69 NZD 0.02 2.9%

MINING STOCKS
CANADA
Harry Winston CAD 10.55 CAD 11.35 -CAD 0.80 -7.0%
Lucara Diamond CAD 1.03 CAD 1.00 CAD 0.03 3.0%
Mountain Province CAD 2.14 CAD 2.18 -CAD 0.04 -1.8%
Peregrine Diamonds CAD 1.52 CAD 1.57 -CAD 0.05 -3.2%
Rockwell Diamonds CAD 0.07 CAD 0.07 CAD 0.00 0.0%
Shore Gold CAD 0.90 CAD 0.91 -CAD 0.01 -1.1%
Stornoway Diamond CAD 0.46 CAD 0.50 -CAD 0.04 -8.0%
True North Gems CAD 0.09 CAD 0.09 CAD 0.00 0.0%
UK (pence)
African Diamonds 43.75 45.37 -1.6 -3.6%
Anglo American 2,306.50 2,502.00 -195.5 -7.8%
BHP Billiton 1,961.00 2,016.00 -55.0 -2.7%
Firestone Diamonds 38.75 38.50 0.3 0.6%
Gem Diamonds 232.50 256.60 -24.1 -9.4%
Gemfields 5.50 5.40 0.1 1.9%
Mwana Africa 11.98 13.00 -1.0 -7.8%
Namakwa Diamonds 33.00 36.70 -3.7 -10.1%
Petra Diamonds 58.75 58.06 0.7 1.2%
Rio Tinto plc 3,244.00 3,441.00 -197.0 -5.7%
Stellar Diamonds 18.00 19.25 -1.3 -6.5%










INDIA MARKET REPORT


India Jewelry Show Ends on Upbeat Note

The final day of the IIJS Signature show in Goa, India proved to be a positive one for exhibitors, despite the small number of visitors and exhibitors that attended this year's show. After a quiet opening day on Friday, activity picked up over the weekend. Binay Goenka, the vice president of sales at Kama Schachter, which manufactures and exports diamonds and diamond jewelry, agreed that it was a good show.

“The show gave us an opportunity to meet new clients and strengthen existing relationships in the domestic market,” he explained.

In its third year, the IIJS Signature show hosted 68 exhibitors and an estimated 350 visitors, including seven foreign delegations from Armenia, Bangladesh, Iran, Russia, Uzbekistan, Poland and Azerbaijan. Despite some disappointment regarding the low international turnout, most traders viewed the event as an opportunity to further penetrate the growing Indian market, which they say has proved to be "recession-proof."
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.
Registrovaný uživatel
Za tieto prispevky dakujem :)
Keby som mal dost prostriedkov aby som to kvalitne vyuzil
takto mi to sluzi len ako info
Registrovaný uživatel
Rapaport Fair Trade Conference

Participation is free and open to all.
To confirm your seat, please RSVP to: basel@diamonds.net

The conference is sponsored by RapNet - the Rapaport Diamond Trading Network


Dear Friends,

The global economy will experience massive growth over the next decade. More people will accumulate more wealth than ever before in the history of mankind. Hundreds of millions of new middle class consumers will create unprecedented demand for diamonds and jewelry.

The great changes restructuring the global economy are also bringing about complex challenges. Those that learn to surf the great waves of change and embrace the challenges of the future will prosper beyond expectation. Those that don’t won’t.

Now more than ever you must think strategically. I invite your participation. Learn how to turn challenges into opportunities. Smart people won’t just survive the recession they will reposition themselves as winners.

Rapaport Fair Trade Conference - Basel

This year’s Rapaport Fair Trade Conference will address the issue of human rights and the jewelry industry with special focus on the situation in Zimbabwe. What can and should the diamond industry do about continuing human rights violations? How can we exclude blood diamonds from our distribution system?

We will also discuss what the jewelry industry is doing to develop Ethical, Development and Fair Trade diamonds, gems, metals and jewelry products. Speakers and panelists will include; Dr. Gaetano Cavalieri - CIBJO - The World Jewellery Confederation, Patrick Schein - Association for Responsible Mining, Michael Rae - RJC - Responsible Jewellery Council, Jean Claude Michelou - ICA - International Colored Gemstone Association, Damien Cody- ICA - International Colored Gemstone Association, Elisabetta Molina - Garavelli Aldo, Robin Smith - Host Universal, Assheton Stewart Carter - PACT, Dr. Elizabeth Umlas - SMART.

While reservations are not necessary, we encourage you to RSVP to: basel@diamonds.net.

For those of you attending the Hong Kong International Jewelry Show,- Martin Rapaport’s “The Diamond Decade – New Opportunities” presentation will be taking place at on Sunday, March 7, from 11.00am-12.30pm at the Grand Hyatt Hong Kong - Salon III-IV, Mezzanine Floor, 1 Harbour Road, Hong Kong.

I take this opportunity to wish all of our friends a successful show season.

Yours truly,

Martin Rapaport
_______________
Múdry sa teší objaveniu pravdy, hlupák falošnosti.

Nové téma Další příspěvek

Stránka: « < 1 2 3 4 5 6 7 8 ... > »

Sběratel.com » Minerály » Týždenný prehľad zaujímavostí vo svete diamantov .

Diskusní fórum | Sberatel.com | články | inzerce | katalog | mince | sběratelé | zápalky |

TOPlist
Sběratel.com je poháněno systémem UseBB 1