Jsedirect With Simon Brown

Simon Shares “This week’s episode of JSE Direct is courtesy of OUTvest, our preferred supplier in retirement products.” Day 98 of lockdown and Covid-19 cases are spiking in South Africa. Local GDP for the first quarter came in at -2%, helped by agriculture +27.8% For the first time since July 2019, PMI respondents expect conditions to improve in six months’ time. The index tracking expected business conditions rose to 51.2 in June. Overall PMI for June was 53.9 but remember this index records monthly changes in expectations so it is expected to improve as lockdown levels improve. Barloworld (JSE code: BAW) results were a horror even as they were for the period ending March. The stock lost 11.5% on Tuesday and the headline news was Tweeted by Hilton Tarrant; Avis and Budget Rent a Car Southern Africa (owned by Barloworld):