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Podcast: WorldWide Markets with Simon Brown
Episode: JSE Direct 204: Moody Moody's and investing for income
Description: Simon Shares
Moody's did not downgrade us, but they did put us on review for a downgrade that will put us one notch above junk status. Then we'll have all three rating agencies on the same level with Standard & Poor heading the pack as we're on a negative outlook with them.
Local bank results looking good with impairments improving (expect for Barclays Africa). On the surface they look cheap, but not if earnings weaken going forward, and earnings will weaken.
Now Old Mutual (JSE code: OML) may split itself up and return back to South Africa. But will...