Old Mutual Results:
- Surprisingly strong results from Old Mutual.
- Despite stagnant GDP growth and population decline, Old Mutual shows strong growth, indicating market share acquisition.
- Expansion into banking sector questioned due to market saturation.
- Stock analysis: Trading around 1184, showing potential support at 1150 and resistance at 1240-1280.
- Considered cheap with PE ratio around 7.7 and dividend yield over 7%.
- Market consensus predicts an average price target of 14.81.
- Skepticism remains regarding the bank launch and overall upside potential.
MTN Results and Analysis:
- MTN's earnings affected by Naira devaluation in Nigeria.
- Earnings per share down 72%, impacted by tax issues and currency devaluation.
- Stock analysis: Chart showing positive signs, with potential for short-term growth.
- Market consensus includes three strong sells, five holds, and four buys.
- Telco sector struggles due to price pressures and constant capital expenditure.
- Limited upside potential for telco stocks, including MTN.
ADvTech* Results and Operational Leverage:
- ADvTech demonstrates strong operational leverage.
- Operational margins increase due to improved student occupancy rates.
- Revenue up 13%, HEPS up 19%, and dividend per share up 45%.
- Stock analysis: Notably increased in value but still offers potential growth.
- Expectations for around 15% growth in the future.
- Simon Brown expresses satisfaction as a long-term shareholder in ADvTech.
Monetary Policy Committee (MPC) Meeting Insights:
- MPC meeting concludes with no change in rates.
- Governor's hawkish stance indicates possible rate cuts later in the year.
- Inflationary pressures expected to persist due to global factors.
- Delayed rate cuts expected due to inflation concerns.
- Simon Brown attends the SALTA Awards.
- Satrix emerges as the big winner with 10 awards.
- People's Choice Awards highlight popular ETFs, with Satrix Top 40 winning for the seventh consecutive year.
- Introduction of a new award category for foreign ETFs.
- Importance of industry events in highlighting the significance of ETFs and listed trackers.
Simon Brown
* Simon holds ungeared positions.