21 minutes | Jun 2, 2021

Banks offering value (#449)

Simon Shares
  • Sibanye Stillwater* (JSE code: SSW) announced they'll buy back 5% of their shares.
  • Shoprite* (JSE code: SHP) exits Nigeria.
  • AdaptIT (JSE code: ADI) gets an upgraded offer from Huge (JSE code: HUG) but still likes the 650c cash from Volaris, even as that is below the independent board's fair value of 700c - 909c.
  • Barloworld (JSE code: BAW) completes R1billion sale of motor retail unit and will also, in time, sell its Avis car rental and leasing business.
  • Brent oil is above US$70 for the first time since early 2019. OPEC+ says it will maintain its policy of gradually increasing supply.
  • A very strong trading update from Standard Bank (JSE code: SBK). Banks locally have risks, but look cheap, I have a position in the Satrix Fini ETF* JSE code: STXFIN).* I hold ungeared positions.

[caption id="attachment_29849" align="aligncenter" width="888"] Fini15 ~ weekly[/caption]

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