Commodities rolling over (#501)

Simon Shares

• Still stage 6. Rand continues to weaken.
• Naspers (JSE code: NPN) and Prosus (JSE code: PRX) both are holding well after the hard run the previous Monday on results and buy-back news.
• Resources under pressure, all of them.
• Supply chains adjusting
  • • Just in time is now just in case
    • Higher inventories
    • Higher costs
    • More localisation

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