Yesterday the Zurich Cantonal Parliament voted not to approve the VVG levy (in November 2016 Mediclinic announced that the canton of Zurich was considering a levy on the proportion of privately insured patients treated in listed hospitals. This included Klinik Hirslanden, operating in Mediclinic’s regulatory environment, Hirslanden.
Hirslanden contributed 53.6% of Mediclinic’s revenue in 2016.
Mediclinic’s share price reacted positively on this news.
Remgro Limited (REM)
Allan Gray increased its interest in Remgro to just above 10%.
Holdsport Limited (HSP)
Coronation Asset Management increased its interest in Holdsport to 10.64%.
Pick n Pay Stores Limited (PIK)
Pick n Pay released a trading statement for the 52 weeks ended 26 Feb 2017. Diluted HEPS and basic EPS is expected to increase between 15 and 20%.
Zeder Investments Limited (ZED)
Zeder reported results for the year ended 28 Feb 2017. Recurring HEPS is up 0.5% to 42.6C and the SOTP (Sum of the parts) value as at 28 Feb 2017 was R8.53 per share. Zeder increased their dividend by 22.2% to 11 cents per share.
ZAR/USD : R13.88 (Tickling the R14 rate, reached R13.95 yesterday)
ZAR/EUR : R14.70
ZAR/GBP : R17.24
PSG Group (PSG)
We can see the stochastic is trading in oversold territory. If we do see a reversal our first resistance level would be R237.76 followed by R248.11 – the 50 day MA. On the downside we could find horizontal support at R217.96. A failure of the R217.96 level can lead to a test of support at R213.15 – 200 day MA.
As Portfolio Manager at PSG Wealth Old Oak and with over 20 years’ experience in the investment industry, Schalk has consistently delivered solid returns to his clients and has certainly become one of South Africa’s most well-known strategists. He started his career in 1994 at the stockbroking company, Huysamer Stals (later ABN Amro). He joined SMK Securities in 1997, (later became BoE Personal Stockbrokers) and was later appointed as director and branch manager. In 2001 he co-founded Contego Asset Management and managed the company as CEO up to March 2014, after which he joined PSG Wealth Old Oak. Schalk has also become a regular household name with investors, with his reports being published in many of the national press. He completed his MBA in 2008.
The long-standing mining sector is not doing well. Schalk Louw, Portfolio Manager at PSG Wealth; Jason Muscat, Senior Industry Analyst at FNB and also Peter Major, Director of Mining at Cadiz Corporate Solutions discuss the current turmoil in the mining sector (published on 8 February 2016). finweek Money Matters is a weekly programme aired every […]
Wilson Bayly Holmes-Ovcon Limited is engaged in civil engineering and building contracting activities in the Republic of South Africa and internationally. It operates through five segments: Building and civil engineering, Roads and earthworks, Australia, Property developments and Construction materials. On the 4th of September 2018, WBO released their audited consolidated financial statements for the year […]
When you find yourself in an uncomfortable or strange situation, they often say that you feel “like a fish out of water”. For an average of 40 to 45 years, you “swim with the school”, whether it is as part of a particular company, as part of a group of friends or your family. You […]