Shares, or something Bloom! It blow up!
OK, we can’t possibly hope to understand it, but it sounds grim, so we’re just going to quote it directly from Bloomberg, who we are assured knows this sort of thing, whoever he is: “Five companies in the MSCI South Africa Consumer Staples Index including Shoprite Holdings Ltd. and Massmart Holdings Ltd. are rated the lowest among peers in 36 countries, according to more than 3,800 recommendations compiled by Bloomberg. The gauge, which rallied 23 percent in the past six months, may fall 2.3 percent within 12 months, according to share-price estimates.” Specific gripes are that Massmart’s slash and burn policy on prices may negatively impact on earnings, while Shoprite may be negatively affected by the general slowdown in consumer spending.
Comment: As far as we can make out. And who the rest of the five might be, Mr Bloomberg declines to say.