Gary Booysen, portfolio manager at Rand Swiss, on what the smart money is doing.
Poultry producer Astral Foods is a cyclical business buffeted relentlessly by factors outside its control. Everything from the weather in Brazil to the war in Ukraine influences its key input costs by affecting the price of maize and soya. Add load-shedding to the mix, which has led to bottlenecks in individual quick freezing production, and you might wonder why this is my buy recommendation. The answer is value.
Coal miner Exxaro has struggled to take advantage of record coal prices largely due to logistical constraints. Immediately after the outbreak of the Ukraine-Russia war global energy prices rocketed but Exxaro was hampered by its reduced ability to export. Prices have now more than halved from their peak after a relatively warm winter in Europe meant lower demand. International supply chains have adjusted, with European inventories now high and excess volume being redirected to China .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BROKERS’ NOTES: Buy Astral on the cheap cheap, sell ExxaroGary Booysen, portfolio manager at Rand Swiss, on what the smart money is doing.
Read more »
LETTER: South Africa must face financial realityFewer foreigners own local government bonds, rand falls to new low and Bank tells of plans if grid collapses
Read more »
Here is the expected petrol price for JulyA volatile rand and flat global oil prices are likely to keep motorists on their toes for the rest of the month.
Read more »
NSFAS's eZaga app under siegeNSFAS's eZaga app under siege: A cellphone application that was meant to make it easier for students to access study funds has caused headaches to some who have lost thousands of rand.
Read more »