The Mining Charter
The main focus of Thursday was the Mining Charter, which weighed on resources and our market in general. The All Share Index was down 1.3%. It was a huge day on the market thanks to Derivatives Close-Out; $5.4bn (R69.5bn) traded. Naspers released a trading statement, core headline earnings per share will be up between 33-39%. Peregrine released results (we have a small allocation to the share in the Aggressive portfolio). Comair - which we put on as a trading idea last week - also released their trading statement, HEPS will be up at least 20%. Global markets closed in the green on Friday, so hopefully we’ll play catch up.