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’s 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%.
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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.