| Absa's shares came under pressure yesterday after it confirmed that chief executive Daniel Mminele was leaving after just more than 15 months in the position. The bank says it is a mutual parting of ways due to "non-alignment on matters of strategy and culture transformation" - although it didn't expand on what the non-alignment was. It's a setback for the sector after the resignation of African Bank CEO Basani Maluleke in January. Sadly, Absa's deputy CEO, Peter Matlare, died last month after contracting Covid-19. Also in today's newsletter, PSG Group continues to look for ways to narrow the stubbornly large discount its shares trade at relative to the value of its underlying investments. Meanwhile, Long4Life has hired Investec to help improve value for its shareholders and Etion has sold its Lawtrust business to Altron in a bid to improve its value. Finally, Afrimat's shares reached a new high after it said full-year earnings would show a big improvement thanks to the impact of firmer iron ore prices on its bulk commodities business. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics A combination of favourable factors say Ingham Analytics will boost the profits of US companies considerably this year. Out of favour sectors will benefit most. Many South Africans are now directly invested in the US markets so "There's a coach comin' in, hear those wheel spin" is timely. Other notes of interest include "NOPE, you can make money out of volatility" and "Slap". | 