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No News is Good News - One to buy with one to sell

by , 21 September 2017
No News is Good News - One to buy with one to sell
The JSE managed to etch up a 1.3% gain last week as there was very little driving markets. Volatility is at record lows yet uncertainty is high, the market is taking a wait and see approach.

Inflation came out a little higher in May at 5.4% versus 5.3% in April. This remains within the MPC's target range.

The Public Protector's report is being challenged and the Mining Charter kickback is building momentum. The Rand has strengthened since the weakness seen after the mining charter, we should see a few more days of strength in the absence of major negative news.

In the States, markets continue to reach new highs, and other international markets are buoyant. U.S valuations still look stretched, but the bull trend is intact.

Oil has pulled back as oil rig counts continue to rise, (last week marked the 23rd week of increases) and OPEC production cuts fell short of targets.

Naspers' results released on Friday signalling that pre-tax profits were up, helping it end the week 5,6% higher, this boosted the industrial sector to close the week 2.9% up.

Last week's movers and shakers…

• Best Performers: Transhex 11.4%, Alviva 6.6%, Naspers, 5,6% CMH 4.8% and Discovery 4.7%
• Worst Performers: Mpact -15.2%, Brait -11%, Northam 7,1% and Harmony -5.4%

Discovery's share price rose on an announcement, it has collaborated with GMHBA and AIA Australia to create a new health insurance brand that will roll out health insurance coupled with Vitality.

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One to Buy
 
Famous Brands - Digesting acquisitions
 
Famous Brands made a few significant investments in 2016, which saw its share price rally to the R180's. It has since pulled back to the R130's. This after they announced the suspension of dividend payments until debt levels reach target levels. Long term fundamentals remain appetizing, the price has pulled back to reasonable levels. Add Below R130
 
One to Sell
 
Poultry Producers – “Flu Season” could hurt profits
 
Astral Foods, RCL Foods and Sovereign Foods could all be impacted by the latest outbreak of bird flu that has infected thousands of chickens. The outbreak first surfaced in Zimbabwe, where 140,000 birds were culled. Exercise caution.
  
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Update        
  • Naspers: Bounced on Results. Hold
     
  • Tongaat: Pulling back after a bounce. Hold – Target R170.
     
  • PSG: Still bullish, buy below R235. Target R260.
     
  • Sasol: Trading at support, Buy Below R365. Hold for the rally.
     
  • Sibanye Gold: Trading sideways, upside potential still in play.
     
  • MediClinic: Stronger rand putting pressure on price, buy below R130.
     
  • Richemont: Maintain Long Position at R108.
     
  • Massmart: Add at current levels. Buy below R110.00.
     
  • Tiger Brands: Trading at support. Hold for a rally.
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(This article is an extract from Prodigy’s weekly Investor Digest. For more information contact Gavin McCarter on gavin@prodigyam.co.za.


No News is Good News - One to buy with one to sell
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