Daily Market Blog: Brait in Iceland


"Just a refresher, for their Pepkor stake, the 37 percent interest that Brait held, they got 15 billion Rand in cash and 200 million shares in Steinhoff. The shares have been sold for around 16 billion Dollars. About 80 Rand a share. They are going to use the funds to settle their 14.2 billion Rand obligations."

To market to market to buy a fat pig. Oh dear, what happened to the hosts? That is a first as far as I understand it, the English are left out in the cold, out of the world cup. Elsewhere things were great if you were a bull in equity markets, thanks (or no thanks) to the "jobs report" on Friday. This was a case of when bad news was first interpreted as such, being bad news, and then the Fed watchers (they really have nothing else to do) started to say, oh, the Fed are not going to raise rates this year. And that is apparently very good for equity markets, so we got an almighty rally on Friday, with a 58 point swing on the S&P 500, which closed at the best level in a couple of weeks.

Hey, talking of good or bad notes, did you get a chance to see Ben Bernanke was on the box yesterday, on USA Today. Why? His book titled "The Courage to Act" has been released. He wanted individuals jailed for the financial crisis, he spoke of damage control and not doing enough to explain to ordinary people that if they did not do what they did, then the outcome would have been very, very different. We often said around here that the extraordinary and unpopular methods of the Federal Reserve and the US government through that period led to confidence being restored and more importantly, made sure that trust amongst the financial institutions was restored. Spreads blew out, it was a time of trust nobody, they are all untrustworthy.


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Stocks which we currently recommend

Amazon.com is the world's leading online retailer.

Apple is the global leader in tablet and smartphone technology.

Aspen is a rising global star in the pharmaceutical industry.

Brait owns fashion, retail and health club assets.

Bidvest is a diversified services company, which may re-organise its portfolio.

Cerner provides IT solutions in the healthcare industry.

Cisco is a global leader in routing and switching equipment.

City Lodge is a mid-priced hotel group in urban areas of Africa.

Curro is an independent education provider in South Africa.

Discovery is a technology-driven healthcare administrator and life insurer.

Facebook is the dominant global social media platform.

Famous Brands is SA's largest quick-service restaurant group.

General Electric makes power stations, aircraft engines and CAT scanners.

Google is the world's biggest search engine and online advertising platform.

Holdsport is a sporting and leisure goods retailer.

Johnson & Johnson is the world's largest consumer health and pharma company.

L'Oreal is a world leader in the manufacturing and sale of beauty products.

Luxottica is the world's largest branded sunglass maker and retailer.

Mr. Price is a fast fashion apparel and home retailer.

MTN Group is an emerging markets mobile telecoms giant.

Massmart is a big-box discount retailer in Africa, 51% owned by Wal-Mart.

Monsanto is a provider of agricultural products for farmers.

Mediclinic owns hospitals in SA, the UAE, the UK and Switzerland.

Naspers owns digital TV, internet, gaming and ecommerce businesses.

Nestle is a leading global food and beverages manufacturer.

Nike is a designer and retailer of running shoes and other sporting equipment.

Richemont owns the finest luxury brands like Cartier and Van Cleef & Arpels.

Starbucks is a roaster and retailer of coffee and fantastic foods.

Steinhoff owns Conforama and Pepkor.

Stryker makes hip and knee joint replacements and hospital beds.

Tesla is the world leader in electric vehicles and batteries.

Tiger Brands is a basic and branded food producer, expanding through Africa.

Under Armour is a fast growing sports apparel company.

Visa is a global payments technology company.

Vodacom is a South Africa-based communications provider.

Wells Fargo is the biggest retail and commercial bank in the USA.

Woolworths the leading organic food & clothing retailer in the Southern Hemisphere.

Zimmer Biomet is a musculoskeletal healthcare company.

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