Morning Note

Morning Note – 1 August 2018

SENS Summary

Arcelormittal South Africa Limited (ACL)

Arcelormittal released their interim results for the six months ended 30 June 2018. Revenue increased by 19.4% to R22 868 million, net debt declined to R1 888 million (2017: R 3 262 million) and the headline loss improved by R1 673 million to a profit of R54 million.

Sibanye Gold Limited (SGL)

Sibanye-Stillwater announced that all conditions precedent to the DRDGOLD transaction have been fulfilled.

Current Forex

  • ZAR/USD : 13.35
  • ZAR/GBP : 17.50
  • ZAR/EUR : 15.60

Top 40 Moves

Tiger Brands Ltd (TBS)

Tiger Brand’s share price increased by 1.64% yesterday to close the day at R350. The share price recently crossed above its 50-day moving average and is now trading close to overbought territory. Should we see a further increase in price it could test resistance at R398.99. If a reversal in the short-term momentum occurs and it once again trades below the 50-day moving average, it could test support at R310.41.

 

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