• Comment of the day

    Jacques on Muthumbi junket: next the police minister will go to a renewables congress.

  • Rand in crisis

    The rand plunge reflects SA's leadership woes, says Leopold Scholtz.

  • Ignorance is no excuse

    The SA Tourism CEO should stop shifting blame for the visa fiasco, says Solly Moeng.

All data is delayed
Loading...
See More

Walmart is the new gold

Aug 08 2012 15:38

Company Data

MASSMART HOLDINGS LIMITED [JSE:MSM]

Last traded 120
Change 5
% Change 4
Cumulative volume 886748
Market cap 0

Last Updated: 27-08-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Vavi attacks Walmart deal

Walmart bribery review fingers SA

Govt appoints expert for Walmart study

State spends R4m contesting Walmart deal

Walmart advent a boon to SA shoppers

 
Johannesburg - Walmart is the new gold as investors flock to buy its shares in the retail giant seen as a safe haven amid slowing global growth and volatile markets, say analysts.

Walmart's same-stores sales in the US have improved for nine consecutive quarters pushing up its shares 24% this year, and briefly making it the world's third most valuable firm, said Business Report.

Investors in the US are eager to find out how much higher their shares can go.

“In some sense, it is like gold,” David Abella, a portfolio manager at Rochdale Investment Management is quoted as saying.

“It’s a safe bet in an economy like this. If you start to see other retailers do well or consumers appear more confident, then it is time to take gains and get out.”

The slow economic recovery in the US had made investors nervous, helping to push up Walmart shares, said Abella.

With a market capitalisation of $251.3bn (R2 trillion), Walmart is at its most valuable since March 2004.

The Competition Commission approved a merger by South African retailer Massmart Holdings [JSE:MSM] and Walmart in May last year, giving the American firm 51% stake in Massmart, the parent company of Game, Dion Wired, Makro and Builders Warehouse.

Walmart operates in countries around the world including Canada, Brazil, China, Chile, Japan and Mexico.

 - Fin24

*Follow Fin24 on Twitter, Facebook and Google+.
massmart  |  walmart  |  retail

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
6 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Myths that funding and red tape are the two biggest challenges faced by emerging companies and entrepreneurs, have been debunked by a report.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb’s possible intervention in the markets to stem the rand’s fall is:

Previous results · Suggest a vote

Loading...