Cyril Ramaphosa's support is growing, spurring a rand rally

by , 06 December 2017
Cyril Ramaphosa's support is growing, spurring a rand rally
According to a poll by Kantar Public, Cyril Ramaphosa's support as next ANC president rose to 43% in November from 36% in August. He is also leading the nominations, Ramaphosa has an over 500 branch lead. A lot can still happen in the next few weeks, so, watch this space. As the saying goes, plan for the worst, hope for the best.

Additional tail winds for a global rally is the traction being made in Trump's tax reform. This is good for US banks, retailers and the US manufacturing sector. These companies are offering value in a market that has rallied strongly over the past 12 months, so we expect some rotation into these sectors.

For investors looking for offshore exposure, but don't want downside protection, please contact us. We have a few structured products that are nearing their cut off dates, providing guaranteed growth with downside protection.


 
 
Last week’s movers and shakers…
  • Best Performers: ZED 10.1%, MUR 8.1%, NED 7.6%, PSG 7.4%, MEI 6.9%
     
  • Worst Performers: TSX -13.5%, DRD -9.3%, IMP -8.2%, GLN -7.8%, ASR -6.9%
Shorter Term Ideas
  • Ascendis – Moving up to the target price of R20.00. Hold
Long Term Ideas      
  • Sygnia: Support building above R14. Hold
  • PPC: Buy dips below R7.00.
  • Santova: Buy below R3.30.
  • Merafe: Strong support at R1.55, buy at R1.55.
  • Steinhoff: More bad news are tomorrows results haven’t been audited. Hold.
  • Jubilee: Bouncing from Support. Hold.
  • African Rainbow: Place stop loss at R114 to lock in over 17% gain. Hold.           
  • MTN: Range bound between R120.00 and R130. Hold
  • Glencore: Support at R60. Hold
  • Wescoal: Long term buy. Add below R2.15
  • Naspers: Pulling back on a stronger Rand and profit taking. Hold  

Have you used your 2017 Investment Allowance?
 
All your offshore investments allowances expire at the end of 2017. Prodigy can invest your funds securely offshore. Please contact me without delay before you miss out. gavin@prodigyam.co.za
 

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