Cannon Asset Managers is a licensed asset management business based in South Africa that manages domestic assets as well as global investment portfolios. Since our formation we have successfully applied the philosophy and principles of value investing, an investment management approach that consistently has demonstrated a clear advantage over other philosophies.  Consequently, over the years Cannon Asset Managers has developed a reputation for successfully delivering portfolio results to our clients who include companies, pension funds, insurance companies, trusts, high net worth individuals and retail investors.

Local consumer price inflation came in slightly higher than expected last month at 4.6% - adding pressure for a rate hike when the Reserve Bank’s Monetary Policy Committee meets next month. Adding to the pressure will be electricity price increases, with the National Energy Regulator of SA (Nersa) due to rule at the end of this month on Eskom’s application for an increase over and above the 13% granted for the current year, to bring the total increase to 25%.

On the positive side, retail trade sales measured in real terms increased by 3.4% year on year in April, causing some buoyancy in the local retail stocks.

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