Morning Note – 17 January 2018

 

17 January 2018

SENS Summary

 

 

The Foschini Group Limited (TFG)

 

  • Foschini released a sales update for December 2017. Their turnover growth was 31% compared to the prior year, TFG Africa turnover growth was 6.6% and TGF London realised a turnover growth of 63.9%. Foschini‚Äôs turnover for the 9 months to 31 December increased by 17.1%.   

 

Shoprite Holdings Limited (SHP)

  • Shoprite released an operational update for the six months to December 2017. Their turnover increased by 6.3%, supermarkets RSA realised an increase of 7.8% in sales and their furniture division reported an increase in sales of 10.8%.      

 

Current Forex

  • ZAR/USD : 12.29
  • ZAR/GBP : 16.95
  • ZAR/EUR : 15.07

 

JSE Top 40 Moves

MMI Holdings Ltd (MMI)

MMI rallied 7.43% to close the day at R21.70 after the company announced that Nicolaas Kruger will be stepping down as CEO.The 200-day moving average at R20.52 could act as a short term support level followed by the 50-day moving average at R19.97.Horizontal resistance can be found at R22.00.The oscillator is trading in neutral territory.

 

Contact us:

Schalk Louw

Portfolio Manager

 

  Tel: +27 21 202 2715

Schalk.Louw@psg.co.za

 

 Kobus Viljoen

 Investment Analyst

 

 Tel: +27 21 204 4074

Kobus.Viljoen@psg.co.za

 Pieter-Jan van Niekerk

 Equity Analyst & Trader

 

      Tel: +27 21 202 2716

   PJ.vanniekerk@psg.co.za

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