30 March 2020

Moody’s adds to the lockdown blues

At the next index rebalancing, government debt will be excluded from the World Government Bond Index after SA was junked by the ratings agency.

Anglo revises guidance on scaled-back operations

The diversified mining group has trimmed production guidance for coal and iron ore this year as it temporarily reduces its workforce and output.

South32 cuts back on spending due to Covid-19 uncertainty

The diversified mining group is trimming its capex budget and has suspended its share buyback programme in order to protect its finances.

Exxaro to help keep the lights on

The coal producer says it will keep supplying Eskom as well as export customers to help generate foreign exchange for the country.

Resilient withdraws dividend guidance

The shopping centre owner has been giving rental concessions to Edcon but may now receive no rent from the retail group at all.

The Week Ahead with Chris Gilmour 30 March 2020

Macozoma to take the chair at Vodacom

The well-known businessman replaces Jabu Moleketi, who has been on the Vodacom board for the past 11 years.

Mediclinic lines up new chair

Dame Inga Beale, the first CEO of Lloyds of London, will replace Dr Edwin Hertzog at the AGM of the hospital group in July.

27 March 2020

Mr Price prepares for lockdown sales knock

The value retailer says it will not make any local sales at all over the next three weeks, starting its 2021 financial year on the back...

Growthpoint going ahead with dividend payment

The real estate investment trust says given the current uncertainty it has withdrawn its full-year guidance.

Distell ready for alcohol-free lockdown

The wine and spirits producer is halting most of its production but will continue to make alcohol for sanitisers.

Ingham Analytics issues a note on South African banks entitled ““COVID-19 coup de grâce for banks”

Ingham Analytics has warned in several notes that the poor fiscal situation has repercussions for the big four banks in South Africa.

Weekly corporate finance activity by SA exchange-listed companies

Weekly summary of corporate finance activity by South African exchange listed companies

Who's doing what this week in the South African M&A space?

Weekly summary of Merger & Acquisition activity by South African companies

Afrimat to suspend most operations

The industrial minerals, bulk commodities and construction materials group says it is too early to quantify the potential impact.

intu in talks with banks as tenants withhold rent

The shopping centre owner received less than a third of rent owed to it by the due date this week.

Capco halts share buybacks due to Covid-19

The London property owner says it is conserving cash as it negotiates payment plans with tenants who are affected by trading restrictions.

Who's doing what in the African M&A space?

Weekly summary of all Merger & Acquisition activity from across Africa (excluding South Africa)

Thorts - Activist shareholder or appraisal investor?

Shareholder activism has gradually been increasing in the last decade, and plays an important and relevant role in our corporate society.

26 March 2020

Sibanye-Stillwater likely to miss guidance

The group is placing its local mines on care and maintenance and scaling back on new project work in the US.

WBHO withdraws dividend

The construction and infrastructure group says it remains committed to future dividends once circumstances permit.

Emira withdraws dividend guidance

The property fund says it is unclear how Covid-19 will impact its balance sheet and distributable income.

Wescoal to maintain coal production

The company says as an essential services provider, it will continue supplying coal to Eskom and other essential services like hospitals.

Sirius getting fewer tenant enquiries

The German real estate group says underlying occupancies are likely to dip but demand for storage space is on the rise.

Vivo Energy taking precautions

Its petrol stations remain open and it is supplying commercial customers but there has been a drop in aviation and transport volumes.

Exxaro brings coal to A2X

The resources group will become the third from the sector to list on the alternative exchange.

Sasfin still in talks with Arise

The niche bank and financial services group says discussions with the European investment and development company are ongoing.

25 March 2020

Miners seek clarity on Covid-19 lockdown

Most mines are being placed on care and maintenance but some remain critical to the economy, including those supplying coal to Eskom.

Hotel and casino operators close shop

Operators in the hospitality sector are preparing to close almost all their operations for the duration of the countrywide lockdown.

Brait likely to take a hit from coronavirus

The investment group says companies in its portfolio will be affected differently by the pandemic, with most of its Virgin Active gyms closing.

Dividends postponed as companies conserve cash

Mpact and Trellidor have delayed payment of their dividends until September in order to preserve financial liquidity due to current uncertainty.

Sappi declares force majeure at Saiccor Mill

The pulp and paper producer says the Vulindlela expansion project will undergo a controlled shut down due to the pending lockdown.

Master Drilling benefits from diversification

The drilling services specialist has maintained a stable order book as it develops new technology and makes complementary acquisitions.

24 March 2020

Dividends on hold as companies batten down the hatches

A growing number of property groups say retaining cash will help them weather the difficult conditions that are likely to continue for the short term.

ADvTECH defers dividend as pandemic spreads

The private education and staffing group says it will revisit the situation at its May board meeting and may resort to share buybacks.

Banks ready to assist customers

Standard Bank says it remains well capitalised and liquid but cannot estimate the likely negative impact Covid-19 will have on its performance.

What do fixed income and equities have in common? A lot says Ingham Analytics.

In another timely Macro Insight at a time of turmoil in markets is titled "Fixed income leads the way for equities" offers valuable pointers- and lessons.

Rhodes reports rising demand for tinned goods

Households are stocking up on long life products including canned meat and vegetables and baby food due to Covid-19.

Famous Brands restricted by Covid-19 rules

The casual dining restaurant group is beefing up its home delivery capability but says trading will become increasingly difficult, impacting sales this year.

Alexander Forbes halts Mercer share buybacks

The companies say they will revisit the share repurchase at a later date once markets have settled.

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