Morning Note

Morning Note – 21 February 2018


21 February 2018

SENS Summary


Tiger Brands Limited (TBS)

  • TBS released a voluntary trading update for the 4 months to January 2018. Group revenue declined by 5%, compared with the corresponding period last year, driven by overall price deflation of 1% and volume declines of 4%.


MMI Holdings Limited (MMI)

  • MMI released a trading statement for the six months ended 31 December 2017. They advised that headline and basic earnings per share for the 6-month period will reflect an increase of between 20% and 30%.


Bid Corporation Limited (BID)

  • Bidcorp released their unaudited results for the half-year ended 31 December 2017. Continuing headline earnings per share increased by 8.65% to 640 cents (2016: 589.3 cents). The company declared an interim dividend of 280 cents representing an increase of 12%. Bidcorp anticipates real growth in the period ahead.



Current Forex

  • ZAR/USD : 11.78
  • ZAR/GBP : 16.47
  • ZAR/EUR : 14.51


Top 40 Moves


Investec Ltd (INL)


Investec moved 0.82% higher yesterday to close the day at R102.43. This stock has been trading close to overbought levels since the middle of January 2018. Its 50-day moving average started to show some upward momentum but it is still trading below its 200-day moving average. If the positive momentum continues with this stock, we could see it finding resistance at R106.36. If there is a reversal, support can be found at the 200-day moving average (currently at R96.70) followed by R83.80.


Contact us:

Schalk Louw

Portfolio Manager


  Tel: +27 21 202 2715


 Kobus Viljoen

 Investment Analyst


 Tel: +27 21 204 4074

 Pieter-Jan van Niekerk

 Equity Analyst & Trader


      Tel: +27 21 202 2716

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