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How Mediclinic turned its declines around
Mediclinic’s share price recovered slightly after months of declines on poor performance in foreign territories. The share price has been under pressure for the past 14 months but rose 0.65% to close at R110.78 on Wednesday, following the medium-term budget policy statement by Finance Minister Malusi Gigaba. By early evening, the rand had dipped to a 10-month low, losing 35c to almost R14.11 to the dollar. An equity analyst at Gryphon Asset Management, Casparus Treurnicht, said while there was a series of events that had contributed to Mediclinic’s underperformance, he was expecting the share price to keep track of the rand’s weakness.
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