Bottoming out

Article Abstract:

Old Mutual South Africa Trust is an investment trust focusing on small companies in commerce and industry in South Africa. The trust has seen a drop in its share price of 11% over a year, and its performance is linked to the performance of the South African economy as a whole. Inflation is dropping and interest rates are likely to be reduced. Import costs are dropping with the reduction of tariff rates. There are still high levels of crime and unemployment and there is concern about the impact of the abolition of exchange controls and about political stability after Nelson Mandela ceases to be premier.

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WH Smith

Article Abstract:

UK newsagent and wholesaler WH Smith is enjoying strong growth and its share price is currently looking undervalued. WH Smith's high street sales are strong, and 120 more stores will be opened in the coming three years. Profits from publishing grew by 13% in 2001.

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GBL

Article Abstract:

UK investment vehicle GBL's shares are regarded as a good buy, particularly given GBL's 25% stake in the privately-held media group Bertelsmann. At the current level of GBL's share price, the Bertelsmann stake is undervalued.

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