Local Markets Outlook: Staying the course despite the political economy

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Disclosures
AngloGold Ashanti A, H, K
DRD Gold Ltd K
Gold Fields F, H, K
Harmony H, K
Pan African Resources F, H, K
Sibanye-Stillwater Limited A, G, H, K
Anglo American Platinum F, K
Impala Platinum A, F, G, H, K
Ivanhoe Mines H, K
Northam Platinum F, G, H, K
Platinum Group Metals K
Royal Bafokeng Platinum G, H, K
Wesizwe Platinum G, H, K
Tharisa plc F, G, H, K
Emira Property Fund K
Fortress Income Fund Limited "A" A, F, K
Fortress Income Fund Limited "B" A, F, K
Growthpoint Properties Ltd A, F, G, H, K
MAS Real estate Inc F, K
Nepi Rockcastle Plc K
Redefine Properties Limited G, H, K
Resilient REIT Limited G, H, K
Vukile Property Fund Ltd H, K
Mediclinic international K
Netcare Group F, H, K
Life Healthcare Group F, G, H, K
Aspen Pharmacare Holdings Ltd A, F, G, H, K
Adcock Ingram Ltd F, K
Dis-Chem Pharmacies Ltd F, K
MTN Group Limited F,G, H, K
Vodacom Group Limited F, G, H,K
Telkom SOC SA Limited F, H, K
Foschini Group Ltd F, G, H, K
Mr Price Group Ltd F, K
Pepkor Holdings Ltd F, G, H, K
Truworths International Ltd F, K
Woolworths Holdings Ltd F, G, H, K
Shoprite Holdings Ltd F, H, K
Pick n Pay Stores Ltd F, H, K
Barloworld Ltd F, G, H, K
SPAR Group Ltd F, H, K,
Bid Corp Ltd K
Bidvest Group Ltd F, G, H, K
Clicks Group Ltd F, K
African Rainbow Minerals K
Exxaro Resources F, G, H, K
Kumba Iron Ore F, H, K
South32 F, K
Thungela Resources A, F, K

A - Nedbank holds 1% or more of the total issued share capital of the subject company
B - Nedbank holds 5% or more of the total issued share capital of the subject company
C - The subject company holds 1% or more of the total issued share capital of Nedbank.
D - The analyst of this report (or a connected person) has a holding, is a director or officer, and/or has a direct or indirect f inancial interest in the subject company.
E - The analyst of this report (or a connected person) has traded in the securities of the subject company in the last 30 days.
F - Nedbank has a transactional banking relationship with the subject company
G - Nedbank earned investment banking fees from the subject company in the last 12 months
H - Nedbank has an investment banking relationship with the subject company
I - Nedbank has managed or co-managed a primary share issue for the subject company in the past 12 months
J - Nedbank has managed or co-managed a secondary share issue for the subject company in the past 12 months
K - Nedbank may conduct investment banking business with the subject company in the next 6 months
L - Nedbank /Analyst has a conflict of interest
3 Jul 2023 English South Africa Business · Investing