Following a 5.38% rally on Wednesday, shares in Pioneer Food Group shed 4.74% to close at R122 on Thursday, despite the food and beverage group saying its full-year earnings would be more than 20% better than previously. Analysts said Pioneer’s trading update may have disappointed the market, given weak sentiment and expectations for a greater jump in earnings since adjusted earnings at the half-year mark were up 58%. Victor Seanie comments.

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