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Thursday | 07 May 2020 [email protected] https://www.sasfin.com/wealth/ +27 11 809 7500 South African Overview JSE All Share Index | 2019 v 2020 JSE All Share Index | Intraday 65000 50000 60000 55000 49500 50000 45000 49000 40000 35000 48500 01 Jan 01 Feb 01 Mar 01 Apr 01 May 01 Jun 01 Jul 01 Aug 01 Sep 01 Oct 01 Nov 01 Dec 09:00 11:00 13:00 15:00 09:00 11:00 13:00 15:00 2019 2020 Corporate Releases Equity Headlines Key Local Indices Selected Announcements The JSE surged on Wednesday as it tracked its Asian peers’ strong performances Index Last Previous 1d % 1m % ytd % NEPI Rockcastle - NRP – Update earlier in the day. This surge was despite disappointing local economic data in the All Share 49832 49184 1,3 7,8 -12,7 The property REIT provided shareholders with an update on Wednesday regarding form of the Standard Bank PMI reading for April which fell to 35.1 from a prior Top 40 45953 45210 1,6 8,0 -9,6 the impact of COVID-19 on its operations. Like many others, the local authorities in recording of 44.5. Gains on the local bourse were on the back of advances in both Resource 10 44304 42924 3,2 14,0 -10,1 the resources and industrials indices, as they added 3.22% and 1.45% respectively. the nine Central and Eastern European countries where the group operates, Industrial 25 70969 69958 1,4 6,1 2,4 Financials dropped 1.43%, while retailers retreated on the back of the weaker rand implemented lockdowns. As on 6 May tenants representing 43% of the Group’s Financial 15 9798 9940 -1,4 1,4 -37,5 as The Foschini Group shed 6.95% to close at R66.98. In fixed income, the yield on GLA are open. The property owner said the first trading indications in Lithuania and Gold 4547 4426 2,7 36,2 60,0 government paper due in 2030 rose 2.5 basis points to 9.78%. Poland are positive, with footfall increasing. The group managed to collect 90% of Property 229 231 -0,8 6,2 -48,5 the rent and other charges invoiced for Q1 2020. The Group is “committed to its Mid Cap 52215 52549 -0,6 5,0 -32,7 prudent financial policy, focused on a conservative gearing level (32% as at Small Cap 32651 32883 -0,7 5,8 -29,0 December 2019) and robust liquidity”, they said in a statement. Best & Worst 1-Day Percentage Performances Investec Australia – IAP – Results Best Performers Code Last(ZAR) 1d % 1m % ytd % Worst Performers Code Last(ZAR) 1d % 1m % ytd % The fund which is listed on the JSE and ASX, has a portfolio consisting of 30 Rebosis Prop. Fund REB 28 7,7 55,6 -12,5 Hosken HCI 1938 -11,9 -33,3 -78,7 properties valued at AUD 1.09Bn, and reported their full-year numbers, providing Super Group SPG 1541 6,6 31,7 -45,8 Harmony HAR 6450 -9,0 49,2 26,0 property investors with some relief. Group revenue improved by 12.9% to AUD Anglo Platinum AMS 101785 5,7 16,0 -22,1 Brait SA BAT 350 -7,9 14,8 -74,8 101.1 million from AUD 89.5 million, while operating profit increased to AUD Coronation Fund Man. CML 3790 4,8 19,0 -5,1 Hammerson plc HMN 1250 -7,9 -3,1 -77,9 $66.1million. However, the distribution per share (DPS) fell by 7% to AUD 9.09 Echo Polska Prop N.V. EPP 618 4,7 -4,6 -64,0 Foschini TFG 6698 -6,9 -3,9 -55,2 cents. CEO Graeme Katz: “As a result of the initiatives we undertook during the period, the fund’s gearing has reduced from 37.4% to 22.2%, the weighted average 52-Week Highs (or close to) 52-Week Lows (or close to) debt expiry has been extended from 3.6 years to 7.4 years and our all-in funding Company Code Last(ZAR) 1d % 52w High % to High Company Code Last(ZAR) 1d % 52w Low % to Low cost has reduced to 3.05." Aspen APN 12958 2,8 12984 -0,2 Hosken HCI 1938 -11,9 1930 0,4 Naspers NPN 292446 2,0 298898 -2,2 Reunert RLO 3621 -4,7 3562 1,7 Harmony – HAR – Update British American Tob. BTI 69573 1,9 73124 -4,9 Vukile VKE 492 -3,1 481 2,3 The gold miner released their operational update for the 9 months ended 31 March Mondi Plc MNP 31344 2,5 33362 -6,0 Hammerson plc HMN 1250 -7,9 1187 5,3 2020, which saw total gold production decrease by 8.5% to 30 814 kg or 990,691 Expected Corporate Releases Dividend Data Last date to trade 12 May ounces. The lower production was due to the nationwide lockdown in SA and load- shedding by Eskom earlier in the quarter. The miner saw operating free cash flow Company Code Expected Release Est. EPS Date Company Code Dividend Payment Date margin improve from 6% to 13%, as the group benefitted from a 21.6% jump in the Oceana Group OCE Interim --- 07 May PSG PSG 75 ZARc 18 May average rand gold price. However, the group surprised the market with the Value VLE Interim --- 08 May Vivo Energy Plc VVO 2.646 USDc 08 Jun announcement they will issue $200m (R3.7Bn) worth of shares to fund its Sappi SAP Interim --- 11 May purchases of assets from AngloGold, many market participants expected it to be Life Healthcare LHC Interim --- 11 May funded from the balance sheet. Vodacom VOD Final --- 13 May Please refer to the bottom of the last page for the full disclaimer Page 1 Thursday | 07 May 2020 [email protected] https://www.sasfin.com/wealth/ +27 11 809 7500 Global Overview Economic Releases Corporate Releases Yday Area Event Period Actual Exp. Prev. Selected Announcements 10:00 EUR Final Services PMI Apr 10.8 11.7 11.7 Shopify – US – SHOP:US – Results CVS Health – US – CVS:US – Results 10:30 GBP Construction PMI Apr 8.2 21.5 39.3 Canadian based e-commerce group, Shopify, surprised Wall Street by posting an The health-care and drugstore chain, CVS Health, were able to keep their stores 11:00 EUR Retail Sales m/m Apr -11.2 -11.2% 0.9% adjusted profit for the first-quarter of the year, as they benefitted from the rush to open as an essential retailer during the pandemic. This led to a surge in sales in Q1 14:15 USD Non-Farm Employment Change Apr -20236K -20500K -27K online services due to the coronavirus lockdowns across the globe. The online as consumers rushed to get prescriptions and other essentials during the lockdown. Today Area Event Period Exp. Prev. platform reported a net loss of $31.4 million, or 27 cents, compared with a loss of The group reported adjusted EPS of $1.91 topping Wall Street’s estimates of $1.63, $24.2 million, or 22 cents in the previous period, however when adjusted for special while revenue for the quarter jumped 8.3% to $66.8Bn compared to $61.6 billion for 8:00am GBP Official Bank Rate --- 0.10% 0.10% items, the earning is 19 cents a share with analysts expecting an adjusted loss of the same period last year, also ahead of analysts’ view of $64.01Bn. CEO Larry 10:00am EUR German Buba President Weidmann Speaks --- --- --- 19 cents. Revenue jumped to $470 million from $320.5 million, while estimates Merlo “I will say that the nature of our business is to a degree recession-resistant, 2:30pm USD Unemployment Claims --- 3000K 3839K from Wall Street was at $443.2 million. Gross merchandise volume (GMV), a key but I wouldn’t describe us as recession-proof.” The group also opened drive-thru 4:00pm EUR ECB President Lagarde Speaks --- --- --- metric used in the e-commerce stocks surged 46% to $17.4Bn, beating estimates coronavirus testing locations and plans to establish nearly a 1,000 sites by the end 9:00pm USD Consumer Credit m/m Apr 14.9B 22.3B of $16.58 billion. New stores created on the company’s online platform increased by of May and perform up to 1.5 million tests per month. 10:00pm USD FOMC Member Harker Speaks --- --- --- 62% between March 13 and April 24, as many traditional brick-and-mortar 10-Year Bond Yields Basis Point Change businesses attempted to migrate online, although one will have to see if they will Corporate Calendar generate sales in the long-term, the group said in the statement. Region Yield % 1d Chg 1m Chg 1y Chg Company Area QTR End Est. EPS Prev. EPS Date SA 9,78 3 -118 118 Anheuser-Busch Inbev US Mar '20 -0,18 1,27 07 May US 0,68 2 1 --- Uber US 20 Mar -0,79 -2,26 07 May UK 0,23 2 -10 -99 Monster US 20 Mar 0,48 0,48 07 May Germany -0,51 7 -8 -51 Motorola US 20 Mar 1,11 1,16 07 May Japan -0,02 2 -2 --- ArcelorMittal US 20 Mar 0,05 0,53 07 May American Headlines Asian Headlines European Headlines US markets closed mixed, with the Dow off 218.45 points, as investors pored over Asian stocks pared losses and US futures pushed higher this morning as investors European stocks closed lower on Wednesday as investors reacted to falling oil data showing a collapse in private-sector employment in April and weighed the digested a surprise rise in China’s exports amid mixed global economic data.