| | |
| | | |
| | | |
| | Thursday 8 July 2021 | |
| | Good morning Voornaam,
Gingerly, I typed "EOH" and "SNH" into Google after the markets closed yesterday. It was definitely a prettier sight than the day before.
EOH closed at R6.84, flat for the day and down around 20% this year. Steinhoff jumped with a vengeance, up 21% for the day but still 13% off last week's levels. Steinhoff is up 70% this year.
As I've written before, you need a strong stomach for this stuff. I hold both.
It's also really important to remember that if a stock decreases 20%, it needs a subsequent 25% jump to get back to where it started. For example, a drop from R100 to R80 is a 20% decrease. To get back to R100, a 25% increase is needed (R20 / R80).
Steinhoff is in InceConnect again, with Hamilton (of the non-F1 variety) electing to withdraw its appeal in Holland. That may sound like good news at first blush, but Steinhoff has much bigger legal issues in South Africa to worry about.
Harmony is the largest gold producer in South Africa by volume and released an announcement confirming that it has met its strategic targets for the latest financial year. To have achieved production goals despite Covid disruptions is impressive.
As a follow-up to the Attacq and Equites deal announcement yesterday, Equites pulled off a R1bn book build on the JSE to raise capital for that deal as well as developments in the UK. It never ceases to amaze me how South African institutions will throw money at property funds, even when they are trading at a premium to net asset value.
Finally, there's another property-related article. Schroder is a fund focused on Western European regions, listed in London and on the JSE. Despite posting a loss, the fund has announced an increase in its dividend as well as the prospect of two special dividends in the next 12 months, as the fund sits on a substantial cash pile.
Good luck in the markets today!
The Finance Ghost
| |
| | | |
| | | |
| | | |
| | |
| | |
| | |
| | Local and Offshore Market News | |
| | |
| | The market throws equity at Equites
Equites planned to raise R500m on the JSE to fund its pipeline. Demand was so high that the amount was increased to R1bn. Read More |
| |
| | |
| | Profits down, dividends up
Schroder is a property fund focused on Western Europe and listed on the JSE. The fund is cash-flush at the moment. Read More |
| |
| | |
| | In Harmony with its goals
Harmony is the largest gold producer in South Africa by volume. The company has achieved its objectives for the recent financial year. Read More |
| |
| | |
| | Appeal against Steinhoff withdrawn in Holland
As Steinhoff looks likely to return to the negotiating table with creditors, Hamilton won't be appealing in Dutch courts. Read More |
| |
| | |
| | |
| | Company Notices and Announcements | |
| | |
| | Zarclear Holdings Limited >> | |
| | |
| | |
| | |
| | | |
| | |
| |
Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.
The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. | |
| | |
| | | |
| | View online | Unsubscribe | |
| | This email was sent to [email protected] on 2021-07-08 | |
| |
| Powered by Ince (Pty) Ltd | 42 Wierda Road West, Wierda Valley | Sandton | Gauteng | 2196 | SouthAfrica |
