E Happy Friday

Happy Friday everyone. Above all Sophie whose high school graduation I managed to watch virtually last night with help from her aunt, my daughter, another breakthrough in my tech-savvy. I then spent 45 minutes this morning trying to turn the Vimeo program off. While I still think the inflation risk is being ignored by the US market now that there will probably not be a tax increase and may be higher prices for longer, I am a typical worry-wort old enough to remember earlier inflationary cycles in the US and abroad. If I get to the office early enough I can sell while London is open.

Today I managed to put a sell order in on Renishaw, the UK metrology outfit that is being sold by management, but it was not filled.

However, I did sell most of my holdings in Antofagasta, the Chilean mining firm which Frida wrote up for us some years ago, which is listed in London for historic reasons. I am no fan of the Chilean right but the tight elections still worry me enough that I want to cut my risks. I sold today at $21.25/sh when the stock rose 3.74% today. ANFGF.

Equity, Fairness Equitable, Letters, Scrabble, Equal

Image Source: Pixabay


*Naspers and Prosus this morning updated their plans for share exchanges because investors have been demanding that management avoid incentives which might lead it to sell too cheaply. After the duo met with UK investors Citi said the focus of sales will be mainly to cut the discount in NPSNY and PROSY shares of South Africa and The Netherlands respectively. MCHOY,

*Multichoice Group, which was spun off by NPSNY, is down 0.746% after reporting on FY 2021 today, hit by covid-19. MCHOY reported in rands and claimed a 1.5 bn level of cost-saving and a 7% level of operating leverage but no profits and offers 20.9 mn households, up 39% up to 4,600 hours of content, up 19%, Trading profits were R10.3 bn on sales revenues up 4% and its rest of Africa losses fell by R 1.5 bn helped by its 2020 20% stake in BetKing to let people bet on football games, now being raised to 49% which will cost $282 mn. Football was not a big need for the African masses last year and explains the losses based on local content with matches canceled. It offers linkage to homes and some cars from Kia and Hyundai. Subscription revenues rose 5% overall but only 1% in South Africa, its home market and ads plummeted by a third. It also deferred R1.1 bn in sports rights costs to a post-pandemic period but it paid out R500 mn to some of the local sports leagues.

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