MTN Trading Goldencross Backtesting
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– David McKay (editor) & team
Mtn Trading Hours
MTN's Iranian plans said to hit wall of new US sanctions
MTN sells its Cyprus business to Monaco Telecom for R4.1bn
MTN Nigeria picketed by labour groups over right to unionise
Mtn Trading Hours
Some of the salientfeatures of the results release are as follows:
Mtn Trading Hours
The drop in HEPS has been attributed to interest relating to theNigerian regulatory fine, hyperinflation and the impact of foreign exchange losses.
While earnings before interest, depreciation and amortisation(ebitda) margins were realised ahead of consensus estimates Mtn Trading Hours , depreciation and amortisation(ebitda) margins were realised ahead of consensus estimates, markets areperhaps disappointed with the company’s interim dividend offering, which hasbeen reduced to 175c per share from 250c in the prior year’s comparative six-monthperiod.
The group has now guided that it will look to list MTN Nigeria beforethe end of 2018, where previous guidance had suggested the listing by the endof July 2018.
Expectations for the Nigerian listing are fora market cap valuation in the region of $5bn.
The recent announcement from MTN that it hadsigned an agreement to sell Cyprus telecoms to Monaco telecoms, should berealised in the next financial quarter. The net sale amount is set at €260m andis to be paid in cash up front. The deal is part of MTN’s decision to focusexclusively on its operations in Africa and the Middle East. Monaco Telecom(the purchaser) will be allowed to use the MTN brand for another 3 years for acommercial fee.
The sharp drop in the MTN share price has seenit as the share most heavily traded by IG Clients on the day (8 August 2018).
The general IG Client trading interest on theday of decline has been to buy into the near-term weakness. Whether or not thedecision to buy into today’s short-term weakness will prove fruitful remains tobe seen.
SOURCE: IG
The double-bottom pattern highlighted with theblue “W” has failed in its prediction that the share price trend for MTN wasreversing from down to up. This failure to reverse trend is highlighted by theprice trading through the low at 10 900c. The next support target favouredfrom the downside move is now considered at 10 460c. A bullish bias totrades on the MTN share price would only be considered should the stock movereturn to close above the 11 400c-level.
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