Morning Note – 11 September 2018

SENS Summary

Compagnie Financière Richemont SA (CFR)

Richemont announced that its sales for the five months ended 31 August 2018 increased by 25% at constant exchange rates and by 22% at actual exchange rates. Excluding (YNAP) and, sales for the period increased by 10% at constant exchange rates and 7% by actual exchange rates. The group also announced that the CEO position has now been filled by Jerôme Lambert who was previously in charge of Specialist Watchmakers.

AVI Limited (AVI)

AVI released their results for the year ended 30 June 2018.Group revenue rose by 1.9%, headline earnings per share increased by 7% to 543.1 cents per share and the group declared a final dividend of 260 cents per share, bringing the total dividend for the year to 435 cents, an increase of 7.4% on last year. The board also approved a special dividend of 250 cents per share.

African Oxygen Limited (AFX)

African Oxygen reported their interim results for the six months ended 30 June 2018. Total revenue rose by 3.9%, headline earnings per share increased by 11.5% and the group declared an interim dividend of 52 cents (2017:46 cents).

Current Forex

  • ZAR/USD : 15.18
  • ZAR/GBP : 19.79
  • ZAR/EUR : 17.61

Top 40 Moves

Anglo American PLC (AGL)

Anglo’s share price declined by 0.04% yesterday to close at R289.97. The share price crossed below its 50-day moving average at R294.61. The 200-day moving average at R288.49 wil now be a key support level. Horizontal support can be found at R277.44. The stochastic is trading close to oversold levels.


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