Avior Capital Markets - Avior ESG | Oceanic NiÃ±o Index update - Winds of change

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Avior Capital Markets

Avior ESG | Oceanic NiÃ±o Index update - Winds of change

Since our previous note, latest readings show the Pacific Ocean dipping its toe into La Nina territory. However, the current trajectory suggests a weak event and swift return to neutral status. We therefore maintain our previous stance for decent (or normalised) seasonal rainfall in SA during Q2 and Q3'18. Looking further forward, the overwhelming scenario is for neutral conditions to persist into 4Q18, when the likelihood of El Nino looks set to increase.

Once forecast as early as 12 April 2018, Cape Town's Day Zero has now been pushed into 2019, and in this note we build on our previous City of Cape Town water projects monitor. We also briefly assess water consumption across four of SA's major food producers, highighting group-wide targets and what incentives are place for management regarding natural capital.

20/03/2018 7 EN

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Avior Capital Markets

Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.

Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.

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Avior ESG | Oceanic NiÃ±o Index update - Winds of change

Tiger Brands | ESG | Pressed to execute

SA Investment Strategy | Review of January 2020 for SA investors: Coronavirus weighs on the ZAR

SA Banks | Low credit risk in commercial property | Time to buy SA banks

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