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

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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