Ones to Watch : Potential Reversals in CHAR, TGA, FARN
CHAR chariot Limted - RNS
potential positive catalyst of transactional power business sale for a reversal trade set-up with a volatility squeeze firing on the daily
Thungela Reports - See RNS
likely a lot of the bad news already in the price so potential for a bounce on rising oil prices though revenue down 40%, profits -73% , EPS -70% with net cash down 31%
Resilient performance underpins strong cash generation and net cash* position, supporting total returns to shareholders of R3.3 billion for 2023 (49% of adjusted operating free cash flow*)
• Profit of R5.0 billion, including contribution of R448 million from the Ensham Business for the four months since completion of the transaction
• Strong cash generation and balance sheet position maintained, with adjusted operating free cash flow* of R6.8 billion and net cash* of R10.2 billion
• Commitment to superior shareholder returns honoured with a final cash dividend declared of R10.00 per share, taking full year dividend to R20.00 per share, or R2.8 billion, in dividends returned to shareholders in relation to 2023 performance
• Share buyback of up to R500 million announced
BYIT strong results albeit overshowed by former CEO's insider trading investigation which may dent sentiment and trust ..
FARN reports positive trial sets up for a bounce - see RNS
very low volume name
Pre Market 06:45 -dollar into resistance around $103.5: Brent firm above $85 looking bullish , Gold pullback below 8EMA
Dollar index holding into a key week of economic data including 14 central bank meeting and 6 of the G10 with a focus on the Fed
Gold showing some weakness slipping the 8 EMA to the $2148 level
Brent oil holds its bullish bias into some resistance around the $86 level which will support oilers this week but dent travel and renewables
FTSE 100 futures +20 on Friday cash , EU CPI at 10.00
Dollar above 21EMA
Gold pullback below 8EMA
