The volumes are increasing ,the bottoms are getting higher,we are not effected very much by the global financial problems,petrol coming down ,summer coming,strong rand i am expecting fnb to rise 15% before the end December.......
This report out yesterday: "Fitch Ratings revised its outlooks on The Standard Bank of South Africa Ltd. (SBSA) and its Taiwanese branch Standard Bank of Taiwan (SBT) to negative from stable, citing SBSA's deteriorating asset quality indicators and consequent impact on profitability. The agency affirmed the ratings of Standard Bank Group Ltd. (SBG), SBSA and SBT. SBG is South Africa's largest banking group" ... see quote.com
Went into Asa last week - held up through Friday's unpleasantness, and has broken downtrend resistance. Fundamentally, banks have underperformed resources - and most of the jse for the past ten years. Reckon they will benefit now from a slow rotation outa rocks and dust
Yep, I think you're right Gravy. They've taken a major beating as well. But for me the situation is still too shaky. Will wait for the MPC decision and then relook. Must say though that SBK looked very tasty below 8000, but I shall wait