‘Outlook still challenging’
BETS AGAINST South Africa’s retail companies have run their course. Bearish contracts on Lewis Group and Massmart Holdings fell to the lowest level since 2015 and 2013, respectively.
They were still among the most shorted stocks in emerging markets and the outlook for retailers remained challenging, but some improvements in business and expectations for inflation to ease were driving a turnaround in sentiment, according to Bradley Preston, the chief investment officer at Mergence Investment Managers. – Bloomberg