ALUMA CAPITAL FSP 46449

Online Trading Specialist

THE MORNING NOTE

The Morning Note
20 August 2019 | www.alumacapital.co.za | Research@alumacapital.co.za

South African markets closed in the green yesterday, buoyed by broad based gains in diversified mining and platinum sector stocks. Anglo American and Exxaro Resources gained 3.1% and 1.2%, respectively. Platinum miners, Impala Platinum Holdings, Northam Platinum and Anglo American Platinum advanced 2.8%, 1.8% and 0.8%, respectively. Sasol climbed 3.3%. The firm had earlier announced that it would delay the release of its FY19 results in order to probe cost overruns at its Lake Charles project in the US. Retailers, Foschini Group, Mr Price Group and Pick n Pay Stores rose 1.7%, 1.0% and 0.6%, respectively. Market heavyweight, Naspers added 0.9%. On the other hand, Blue Label Telecoms dropped 3.5%. The company had earlier indicated that it expects a significant decline in its FY19 HEPS. City Lodge Hotels lost 1.6%. The company had earlier reported a decrease in its FY19 net profit. The JSE All Share index advanced 0.9% to close at 54,386.31.

Economic and Company Data Today 

·       US: Nothing significant

·       SA: BHP, Shoprite, Harmony results

·       SA: Leading indicator

Stocks trading LTD :

·       Liberty 2 Degrees (29c)

·       MiX (4c)

·       Vivo Energy (US 0.01)

Corporate Updates:

African Rainbow Minerals Limited: The diversified mining company, in its FY19 trading statement, stated that it expects its HEPS to be between 2,577.00c and 2,779.00c compared with 2,526.00c recorded in the corresponding period of the previous year. The company expects its basic EPS to be between 1,700.00c and 1,866.00c.

Sasol meets shareholders as Lake Charles costs climb: Sasol, SA’s biggest company by revenue, said it has held meetings with shareholders as dissatisfaction grows with cost overruns at the $13.00bn Lake Charles chemical project in the US.

Blue Label warns of 20.0% drop in earnings: Cell C's largest shareholder, Blue Label Telecoms, expects earnings for the year to May to plunge 20.0%, it said.

Implats sells control of Sunday Lake project: Impala Platinum (Implats) has relinquished control of its Sunday Lake exploration prospect in Canada as it focuses on bringing its core mines around Rustenburg to profit.

WBHO leadership changes as group flags earnings drop: Wilson Bayly Holmes-Ovcon (WBHO’s) Chair of 11 years, Mike Wylie, will retire in November, sparking a top-management shakeup as the construction group flagged a sharp decline in full-year earnings due to a troublesome roads project in Australia. The company has appointed Chief Executive Officer (CEO), Louwtjie Nel as Executive Chairperson to succeed Mike.

Steinhoff’s former CEO rebuffs demand for return of R850.00mn in pay: Steinhoff International former CEO Markus Jooste sees the retailer’s claim for more than R850.00mn against him as “vague and embarrassing.”

Please Call Me inventor wants more than R10.00bn: Nkosana Makate, the inventor of Please Call Me, has revealed publicly for the first time that Vodacom offered him a settlement of R47.00mn during his latest compensation talks with the telecommunications giant.

City Lodge’s R1.00bn African expansion strategy hit by delays: The conclusion by JSE-listed City Lodge Hotels group of its initial R1.00bn African expansion strategy is being held up by delays to the competition of its 148-room City Lodge Hotel Maputo because of “contractor-related delays and disputes”.

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Increase in Value Added Tax (VAT)

The National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April, 2018.

As a result some of our services subject to VAT will increase on the 1st April 2018.

Changing of Withdrawals Process

Dear Valued Client,
 
We are in the process of releasing our automated withdrawals module on Tradedesk.
 
From the 22nd February 2018, clients will need to login to the Tradedesk portal in order to request a withdrawal.

Please follow this link for a user guide: How to request a withdrawal from your trading account
 
If you have any questions please contact the support team.

Android Mobile Application Update 

We are pleased to advise that we have released an updated ProtraderSA application on the Google play store.
 
Clients using android devices should please update the application at your earliest convenience.

 

Aluma Capital clients received the following high-probability trade idea via SMS

"Learn the art of patience. Apply discipline to your thoughts when they become anxious over the outcome of a goal. Impatience breeds anxiety, fear, discouragement and failure. Patience creates confidence, decisiveness, and a rational outlook, which eventually leads to success." Adams

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