SIMON BROWN: I’m chatting now with Chantal Marx, head of investment research at FNB Wealth and Investments. Chantal, I appreciate the time.
Thankfully they were able to sell some assets at decent prices that bolstered their balance sheets a little, and oil prices have been exceptionally supportive. I think that’s where the trick lies. SIMON BROWN: Standing close to the exit. I take your point on that. Oil is high and could be there for a while. But, as you say, there are a lot of dynamics about that.
But yeah, the resources are really driving the JSE and the Top 40 higher. I’ve just pulled up the forward PE graph for the Top 40. It’s on an 11 times forward PE.
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