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Ingham Analytics say Sasol has an additional headache to add to Lake Charles disappointments, and that is an oil price continually heading south. They say Brent oil has fallen by 20% since the first week of January and if this persisted for a full financial year... Read More
Ingham Analytics says the building and construction sector of the JSE is a shadow of what it was before the football world cup a decade ago. They have trimmed construction sector coverage to just three companies, Raubex, Wilson Bayly Holmes and Afrimat. Since their last note... Read More
Ingham Analytics has issued a fascinating insight into Prosus. They say that Prosus has been rebuffed by the Board of Just Eat and Just Eat shareholders. Just Eat will now merge with Takeaway.com. Ingham Analytics had been sceptical that a £5.5 billion cash offer for Just... Read More
Ingham Analytics say Sasol has a new CEO and the interim results to be released on his watch on or around 24 February will be weak. In fact, they say F2020 will be weak for earnings, period. They expect some “kitchen sinking” in the results. That... Read More
Every December for almost two decades, Saxo Bank, a Copenhagen headquartered specialist trading and investment bank, publishes its annual “Outrageous Predictions”. For 2020, South Africa makes a rare appearance, and the prediction makes for an electrifyingly possibility for capital markets. Should Saxo be proven right, even... Read More
Ingham Analytics have updated their earnings on Kumba, 69.7% owned by Anglo American. They say the iron ore giant will end the twelve months to December 2019 with a strong financial performance, driven by higher average realised iron ore prices.
It is just over seven months since our first “Politics-proofing your portfolio” note, issued ahead of the 8 May general and provincial elections. We advised that it was prudent to keep hedging your bets and have a good proportion of SA politics-proof stocks. As Christmas approaches... Read More
This latest note by Ingham Analytics is hot on the heels of the Prosus note last week (“It’s all in Tencent”) which also had a China tech theme. In coverage of Baidu, among other overseas listed companies, Ingham Analytics gives investors an informed view... Read More
Ingham Analytics will retain the analogy we applied to its holding company Naspers, namely a marked-down Tencent proxy. Not only does Naspers retain a significant discount to its shareholding in Tencent but so too does Prosus, albeit much less, with other assets valued at zero.
FirstRand is the favoured local bank by overseas fund managers, and we see the restructuring by Remgro and RMH as positive in that regard too. A detailed announcement is expected to be made during Q1 2020.