Steinhoff's shares have been on a run since the middle of the month, with very little news driving their upward movement. A rise of 55% at their best yesterday was hardly justified by a trading update from European retail subsidiary Pepco Group, no matter how reasonable it was. Its shares also rose on Tuesday, despite a decline in Pepkor's after it released a trading update.

Like Pepco and Pepkor, Lewis Group claims to be increasing its share of the market due to its positioning. It reported third-quarter sales numbers yesterday that provided investors with a positive surprise, sending its shares higher too.

Hudaco, which imports and distributes branded auto parts, as well as industrial and electrical consumable products, rallied on the back of a trading statement ahead of results out tomorrow. While it will report lower full-year earnings, it will show a big recovery from a very tough first half.

Read on for more on those stores, as well as an update from Life Healthcare, Huge Group's bid for Adapt IT, and Afrimat's plan to dispose of recently-acquired Unicorn Capital Partners.

Finally, if you're exposed to US equity markets, Ingham Analytics' latest note will be of particular interest. It touches on US equity valuations and what's driving market behaviour. All the details are down below.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect

Special Offer for All InceConnect Readers:

Ingham Analytics has issued "Elevator to the stratosphere?" and if you are exposed to US equity markets, you'll want to get their take on valuations and what's driving behaviour. Guess what percentage the market value of US stocks is now to GDP? Or the ratio of market value to profits? The figures will astound you. What about recovery in earnings? And why are out-of-the-money call options soaring? What should you buy and sell? Other popular recent notes include "The gift that keeps on giving for BHP" and "Lithium's Tesla disconnect".