SIMON BROWN: I’m chatting now with Carmen Mpelwane, portfolio manager at Absa Asset Management. Carmen, morning. I appreciate the early morning time. The Nedbank update, was actually [out] after the close on Monday. But the stock went soaring yesterday. A strong update, adding fuel to the theory that that our banks are offering value – some more than others, but certainly good earnings are going to be coming through.CARMEN MPELWANE: Morning, Simon. Definitely.
The Spar trading update – it wasn’t shooting the lights out. The price responded fairly well. I suppose it was generally positive and certainly some divisions, liquor of course, doing well. Poland is moving in the right direction. That’s perhaps the kindest thing we can say about Poland. SIMON BROWN: A quick last question. British American Tobacco – no news out from them doing some share buy-backs and the like. The stock has really started to run after going almost nowhere. Is this just in essence value coming through? A lot of the market commentators I’ve spoken to over the last year say, yeah, this is a great-looking share. It just wasn’t doing anything, went from R520 sort of in the last quarter of last year to R706 yesterday.
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