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Simon’s weekly wrap: Some bullish news for a change

This week MoneywebNOW looked at strong Q1 market returns, alternative investments, Grindrod Shipping’s prospects for the year, Renergen’s helium find and more.
Image: Supply

Wednesday marked the end of the first quarter (Q1) for 2021 and I spoke with Sasfin’s Nesan Nair about Q1 returns. The JSE Top 40 index comes out tops at +12% excluding dividends, while the Nasdaq added 1.6% and the S&P 500 was up 5.5%. Nair comments that SA Inc stocks are looking strong, and we could have a solid return for the JSE in 2021.

The Section 12J tax concession from the South African Revenue Service will end in June this year, but S12J was just one of many alternative investment options. I spoke with Dino Zuccollo of Westbrooke Alternative Asset Management on the various options one will find in the alternative space. We also touched on some of the risks attached to unlisted alternative investments.

The container ship Ever Given has been freed from the Suez Canal, but shipping rates were elevated long before the ship got stuck. Drikus Combrinck of Capicraft spoke to us about local- and Nasdaq-listed Grindrod Shipping. This is the pure shipping part of the old Grindrod group that split into two mid-2018. Combrinck makes the case that it could potentially earn around its market cap in profits for the current financial year.

Renergen* has been finding new deposits almost every time it digs a new borehole in the Free State. Its latest update to the market was around helium concentration levels in the two boreholes that it updated the market on in early March. This update confirmed concentration levels of over 3% and 4% respectively and I spoke with CEO Stefano Marani to get a sense of just how impressive those numbers are.

*The writer holds shares in Renergen

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Renergen has nose-dived since the announcement that their financial director had resigned.

Nose dive might be a bit strong for a 15% pullback on a share that is up 140% for the year

True. Maybe not a nose-dive. Certainly looked like it at the time (to me anyway). Fairly stable now though. Hopefully it will pick up pace again soon.

End of comments.

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