Morning Note

Morning Note – 23 July 2018

SENS Summary

Sasol Limited (SOL)

Sasol released a trading statement for the year ended 30 June 2018. Headline earnings per share are expected to decrease by between 1% and 11% compared to the 2017 financial year HEPS of R38.47.

Truworths International Limited (TRU)

Truworths released a trading update for the 52-week period ended 1 July 2018. Relative to the prior reporting period, Group retail sales decreased by 2.7% from R18.5 billion to R18 billion.

Current Forex

  • ZAR/USD : 13.41
  • ZAR/GBP : 17.63
  • ZAR/EUR : 15.73

Top 40 Moves

Discovery Limited (DSY)

Discovery’s share price increased by 4.48% on Friday to close the week at R158.26. Its stock price crossed above its 50-day moving average and is now trading close to overbought territory. If the short-term positive momentum continues it could test further resistance at R175.77. On the downside, it could test support at R138.

 

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