In today’s briefing:
- Naspers X Prosus (NPN, PRX): Market Reacts Negatively to Appointment of CEO
- EQD | The Nikkei Can Go Higher From Here
Naspers X Prosus (NPN, PRX): Market Reacts Negatively to Appointment of CEO
- Naspers and Prosus have announced the appointment of Fabrício Bloisi as Group CEO, effective from 1 July 2024. Unlike his predecessor, Bloisi has an entrepreneurial background.
- Prosus and Naspers have sold off on the news. Prosus is down 1.7%, widening the discount by 80bps. Naspers is down 1.3%, widening the discount by 50bps.
- Since Bob van Dijk stepped down in September last year, both discounts have narrowed.
EQD | The Nikkei Can Go Higher From Here
- The Nikkei 225 INDEX has been rallying a bit last week and closed the week up. A rebound from the previous downtrend is underway.
- A temporary bottom may have been established in May, it is not clear if the index is about to go lower or higher, but our pattern model readings suggests higher.
- If the index continues to rally, the first major resistance area will be around 40k.
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