| Manufacturing output almost halved at the height of the lockdown in April as factories other than those making essential goods were forced to cut production. The Level 5 lockdown restrictions, which ran from 27 March to 1 May, resulted in a 49.4% decline in production from a year earlier, with all sectors experiencing sharp declines. Data released last month showed that mining production was equally hard hit, with a 47.3% fall in April as mines scaled back their operations. Tharisa plc, which produces platinum and chrome, says its output bounced back quickly as production built back up again in May and June. Although it expects the recovery to continue for the final quarter of its financial year, it has remained conservative with its full-year guidance. Property groups Growthpoint and Liberty Two Degrees are also remaining cautious. The values of their property portfolios are expected to be lower when they next report. Liberty Two Degrees says it won't be paying an interim distribution due to the uncertainty caused by Covid-19, while Growthpoint says its payout will likely be lower. More on those stories to follow, along with news that Aspen has been fined by the UK's Competition and Market Authority, bringing to a close a lengthy probe into anti-competitive behaviour. And Renergen is pushing ahead with drilling at its Virginia Gas Project in the Free State. In the latest mergers and acquisitions news, DealMakers touches on Steinhoff's sale of its shares in Conforama France to Mobilux Sarl and the acquisition of four more warehouses by UK multi-let industrial property company Stenprop. Read on for more DealMakers news. I hope you have a good weekend. Stephen Gunnion Managing Editor, InceConnect
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Recent notes from Ingham Analytics Capitec has perked up since issuing their trading update last Friday. A bout of selling has been replaced by bargain hunters seeing value. Indeed, Ingham Analytics in both "Tito's shocker less of a shocker for Capitec" issued on 26 June and just yesterday with "Rating retreat" have given food for thought on Capitec, with perhaps a somewhat contrarian point of view. Also this week, "Fighting inflation" takes a different look at investment with the Satrix ILBI ETF in the frame for those looking to preserve purchasing power. Be sure to check out other money-themed notes too on the website. And watch out for a note early in the coming week which looks at the IMF and the possibility it is preparing to read South Africa the Riot Act. What's going to be the impact on central government finances, state-owned enterprises, and financing consequences for the banking sector? | 