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07 December 2020
 
 
 
Hello Voornaam,
 

Beaten down property shares helped the market to a higher close on Friday, with Redefine Properties surging 20% and Hyprop adding 16%. Perhaps it was a delayed reaction to Redefine's results of a few days earlier and Hyprop's update on Thursday. Volumes were also convincing, particularly as we head into the festive season when they tend to taper off.

Stenprop, which invests in UK and German properties but is growing its exposure to mixed-used industrial estates in the UK, was unmoved despite releasing fairly sold interim results - and the prospect of a final dividend that will match its half-year payout. Its benefitted from rising demand for its properties as companies expand their e-commerce offerings due to Covid-19.

Meanwhile, Kumba's shares added some fuel to Friday's gains, adding close to 5% after it kept its sales target for the year more or less unchanged despite production coming in at the lower end of its previous guidance.

More on those stories to follow, along with interim results from Wescoal and Ellies Holdings, and an update from vehicle parts and energy storage business Metair.

Have a good week.

Stephen Gunnion

Managing Editor, InceConnect



The latest from Ingham Analytics

The Capitec share price has been roaring ahead of other banking stocks. Ingham Analytics have two timely notes on the sector,"Froth back?"and"Neither a borrower nor a lender be". The topic of ESG investing is gaining traction so"BHP scopes up"is of interest in this regard from a mining point of view.

 

 
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