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02 December 2020
 
 
 
Hello Voornaam,
 

Altron's shares were strangely unmoved by the news that it expects to fetch a better price for shares of Bytes Group when it lists its UK business on the London Stock Exchange later this month. That's good news for shareholders, who'll receive shares in Bytes with its secondary listing on the JSE. It's also good for Altron, which will receive a chunk of cash by selling new shares. At its current projection, Bytes will have a market cap as big as, if not bigger than Altron's current value.

While Altron's shares ended just a little higher, Sygnia's rallied after the fund manager released an upbeat trading statement ahead of results next week. Nampak's, on the other hand, declined after it revealed a full-year loss due to impairments and the significant impact of Covid-19 on its business.

Also today, results from Redefine Properties and an update from Ascendis Health. And Equities Properties has struck a deal to develop a new distribution centre for Amazon in the UK.

Finally, it appears there was a gremlin rather than a ghost in the machine when yesterday's newsletter went out. The latest podcast from The Finance Ghost, where's he's joined again by macroeconomic market analyst Mohammed Nalla to discuss the recent downgrade of SA's sovereign credit rating, disappeared! I've included it in today's newsletter because I'd hate you to miss out.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect



The latest from Ingham Analytics

Ingham Analytics previously called the top in gold at $2,000/oz. The metal has retreated to around $1,800/oz, breaking a key support level. However, gold is still up 20% this year. Gold ETFs, they say, remain a useful portfolio diversifier (see "Added weight" and "A blemished trading jewel?"). Continuing the commodity theme is "BHP scopes up", issued yesterday, which takes an ESG angle, an increasingly important investor consideration. The Rio Tinto public relations disaster over Juukan Gorge is the type of ESG you don't need in mining.

 

 
Todays Latest Headlines
 
Altron raises price for Bytes listing
Altron raises price for Bytes listing
The technology group is planning to demerge and list its Bytes UK business on the London Stock Exchange before Christmas.
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Magic Markets Ep3: Touch my junk (bonds)
Magic Markets Ep3: Touch my junk (bonds)
In the third episode of Magic Markets, we ask you to touch our junk.
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Redefine postpones dividend as it reduces debt
Redefine postpones dividend as it reduces debt
The real estate investment trust says offshore dividends were withheld and Covid-19 had a big impact on its local portfolio.
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Nampak unpacks full-year loss due to Covid-19
Nampak unpacks full-year loss due to Covid-19
The packaging group was impacted by lockdowns, the ban on alcohol sales in SA and hefty impairments.
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Sygnia rallies on upbeat forecast
Sygnia rallies on upbeat forecast
After a good first-half, the fund manager says it will report strong full-year earnings growth.
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Equites to develop new Amazon centre
Equites to develop new Amazon centre
The distribution centre is the second development deal to arise from its partnership with UK property developer Newlands.
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Company Notices and Announcements
 
CORPORATE ANNOUNCEMENT BY: AFRIMAT LIMITED
CORPORATE ANNOUNCEMENT BY: AFRIMAT LIMITED
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CORPORATE ANNOUNCEMENT BY: REDEFINE PROPERTIES LIMITED
CORPORATE ANNOUNCEMENT BY: REDEFINE PROPERTIES LIMITED
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