The JSE entered the long weekend on a high note after trade negotiations between the US and China appeared to be making positive progress. Following strong overnight closes on Wall Street on Thursday, the JSE rallied 1.7% on Friday and it could be in for more gains when the market reopens today after most markets traded higher again yesterday. A convincing win for the Conservative Party in the UK's general elections has also added support to equity markets as it reduces uncertainty around Brexit, with Prime Minister Boris Johnson now in a position to push ahead with the UK's removal from the European Union. Back home, EOH reported that it had beaten its target of R1 billion in asset sales, which it set with the release of its interim results in April as it reduces debt and clean up its capital structure. It's just one of a number of deals to be wound up as the year draws to a close. Nampak has sold its Europe Plastics unit but Taste Holdings is still looking for a buyer for Domino's Pizza after selling Starbucks Maxi's and The Fish and Chip Co. Meanwhile, Impala Platinum has shown just how quickly a takeover can be concluded when it has the buy-in of both sides. Just two months after the initial announcement of its planned takeover of North American Palladium, the deal has been put to bed, with the Canadian company delisting from the Toronto Stock Exchange last night and its assets merged into Impala Canada. The process included the approval of all relevant regulators, including forex approval from the SARB. More on those stories in today's newsletter, along with Northam's latest wage deal and why Rebosis is at loggerheads with its auditors over the value of its property portfolio. In The Week Ahead, Chris Gilmour looks back at some of the news that drove market activity last week, including those easing trade tensions between the US and China, the UK general election and local load shedding. Finally, if you want to know how to 'politics-proof' your investment portfolio this Christmas, as well as get a few tips for stocking fillers, follow this link for the latest research from Ingham Analytics. I hope you have a good week. Stephen Gunnion Managing Editor, InceConnect |