The Rand reacted swiftly to the very disappointing budget, but at least the weaker Rand had a positive effect on the Stock market. Rand hedges were higher this week (Naspers now R3407 per share), and both Clicks and Dis-Chem reported some decent numbers. Also reporting, was ABInBev – saved by SABMiller and the emerging market consumer… as did Old Mutual Wealth (the UK business makes up 28% of the valuation of Old Mutual). AVI started trading under a cautionary. PPC has announced a bid from Lafarge Holcim, which sent the stock over R7 on Friday. And Amazon’s spectacular results has made Jeff Bezos the wealthiest man in the world again.

 

Rand reacts, Companies report & Amazon amazes

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