The mining sector continues to deliver big dividends for investors, with Exxaro Resources the latest company to raise its payout - along with a special dividend after it sold its stake in US-listed titanium dioxide company Tronox. Its shares rose on the news, as it also announced a new CEO to replace Mxolisi Mgojo when he retires in two years time. That's good succession planning. Meanwhile, Theo Loock's successor at Metair, Riaz Haffejee, started in his new position with the positive news that the automotive components and energy storage business has resumed dividends after cancelling its 2019 payout due to Covid-19. The group had a much improved second half following significant disruption at the height of the lockdown. Good news, too, from York Timber, which will report a first-half profit, while African Rainbow Capital Investments says associate Rain has done very well as the data-only network benefitted from rising customer numbers and strong demand for data. On the downside, drilling services company Master Drilling will report a big decline in annual earnings due to Covid-19 disruption at its operations across the globe. Also today, all the latest mergers and acquisitions news from our partners at DealMakers. I hope you have a good long weekend. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics With the Federal Reserve, Bank of England, ECB and the Bank of Japan having met this week, the latest credit and equities analysis from Ingham Analytics will be useful for investors in this regard. "Rate accelerator" and "Is there a TARGET(2) on my back?" deal with offshore whilst "South African bond yields - COVID-19 infected?" is local. And for those who believe the old Brent oil/rand exchange rate relationship will still hold and get Sasol's share price cracking again they have disappointing news in "A fifteen-year gulf". |