At one point, I allowed myself to believe that I had made enough positive changes in my life to make it through this year without being sick even once. Alas, winter had other ideas for me. Still, to be sick for the first time this year in July just shows that making substantial changes to your wellness will pay off. For entrepreneurs and anyone with a highly stressful career, I highly recommend listening to your body before your body forces you to listen to it.
From personal health to healthcare, it turns out that Assura shareholders aren't exactly fighting to get to the front of the queue to accept the Primary Health Properties merger offer. I'm not surprised by this, as I felt that the cash alternative from KKR and Stonepeak was better. To try and drive more acceptances, Primary Health Properties released a detailed trading update.
Over at South32, they are bidding farewell to their nickel asset in Colombia. The nickel market is a perfect example of what happens when there is oversupply of a commodity. Conversely, the immense ongoing rally in platinum stocks is what happens when there's a shortage. These aren't called cyclicals for nothing.
Get all the details you need on these updates (and of course the Nibbles) in Ghost Bites at this link>>>
Kingsley Williams at Satrix brings you a new piece on what they've learnt from 25 years of being a market pioneer. ETFs really are wonderful things and the first investment I ever made on the market was a Satrix Top 40 ETF all those years ago. There are some great insights on ETF trends in this piece>>>
For Unlock the Stock fans, you can learn all about Attacq and the strategic focus of the group, along with how their property assets are responding to trends in the market like eCommerce. The recording of the recent webinar is available here>>>
Of course, there's nothing better than attending Unlock the Stock live, as you get to pose your questions directly to the management team. The next edition features PBT Group on Thursday at 12pm. Attendance is always free, but you must register here>>>
And finally, if you feel like you just need a lucky break this week, then you'll love Dominique Olivier's latest piece on the Timothy Dexter story. Let's just say that this enterprising entrepreneur had more than anyone's fair share of luck! Enjoy it here>>>
Have a great day! |
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SATRIX: What 25 years as a market pioneer taught us about South African investing |
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| | 25 years is a long time. Satrix pioneered the ETF market in South Africa and they've watched it go from strength to strength, with a broad offering of investment products to help South Africans get the equity exposure they are looking for at the lowest possible cost.
But what have they learnt over that period? And what are the recent trends in ETFs?
Enjoy this piece from Kingsley Williams at this link>>> |
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GHOST WRAP: The JSE Winners' Club in 2025 |
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| | At the halfway mark in 2025, we've lived through some huge geopolitical shifts. The world's gaze has shifted beyond just the US market.
Many investors choose to stick with what they know in times like these. This means homegrown favourites on the JSE.
But which stocks have been the big winners thus far this year, and what do they have in common?
Enjoy it here>>> |
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PODCAST: Capital Markets in South Africa - the Think Big South Africa Competition |
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PSG Financial Services is the proud sponsor of the Think Big South Africa competition, in collaboration with Economic Research Southern Africa (ERSA).
PSG wants to encourage South Africans to get involved in their country at the highest level, bringing forward policy ideas and constructive solutions to drive conversations and real change in our country. PSG CEO Francois Gouws joined me to explain why they are such strong supporters of this initiative.
Enjoy it here>>> |
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GHOST BITES - Making sense of SENS on the local market |
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| | Assura shareholders aren't exactly rushing to accept the Primary Health Properties offer, with Primary Health releasing a trading update to try and drive more acceptances. South32 is getting rid of the nickel mine in Colombia. Get the details in Ghost Bites>>> |
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Unlock the Stock - Attacq |
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In the 57th edition of Unlock the Stock, Attacq returned to the platform to talk through their recent numbers and strategy, including interesting trends in the property market across areas like retail and office space. The recording of the management presentation and interactive Q&A is available at this link>>> |
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DOMINIQUE OLIVIER - Dumb luck: the Timothy Dexter story |
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| | In a world obsessed with optimisation and five-year forecasts, there’s something deeply satisfying about success that arrives by mistake. And as mistakes go, Timothy Dexter was incredibly good at turning them into happy accidents. Dominique Olivier tells his story. Read it here>>> |
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INVESTEC PODCAST: No Ordinary Wednesday - tensions, tariffs and the fragile global economy |
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| | At the midpoint of 2025, the global economy stands at a precarious intersection of cooling inflation on one side and rising geopolitical tensions on the other. In this episode of No Ordinary Wednesday, Jeremy Maggs speaks with Investec Chief Economists Annabel Bishop (South Africa) and Phil Shaw (UK) about the shocks and signals shaping markets. Enjoy it here>>> |
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International Business Snippet: |
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With Trump sending tariff love letters to various countries in the past 24 hours (and not just South Africa, despite what certain sections of our society would love you to believe), it doesn't seem like an easy time for an IPO of a global eCommerce business. Despite this, Shein is giving it a go in Hong Kong, mainly because they are struggling to get approval for a listing in the UK. The original dream was to list in the US, but they got way too much pushback for that.
As relations between East and West continue to deteriorate, markets like Hong Kong are in a strong position to attract more regional opportunities.
In Magic Markets Premium this week, our subscribers got to enjoy our work on FedEx. Sitting right in the cross-hairs of the trade war, particularly given the focus on global trade with a US leg, there's much to learn from FedEx. The entire research library in Magic Markets Premium is available for just R99/month. |
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Magic Markets: Insights from five global companies |
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| | Drawing charts like orange juice and cheese futures might be fun, but there’s an important underlying influence that soft commodities have on inflation. Even if you don’t trade commodities, there are useful things to learn.
And of course, when we get to the hard commodities that are actively traded every day, we move from jokes about the cheese spread to very real analysis around the drivers of the platinum price and what this is doing for stocks like Sibanye-Stillwater.
Join us for a fun show that is ultimately an ode to commodities and the sheer breadth of opportunities available on the market. Enjoy it here>>> |
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Macroeconomic indicators and macro update |
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The July 9 date to secure trade deals with the United States has been postponed to August 1. Although 14 nations received letters about tariff hikes on their goods, US President Donald Trump indicated his latest tariff deadline is "firm, but not 100% firm," leaving room for negotiation.
European and US futures suggest a positive start for equity markets today, with Asian benchmarks also showing gains. The Japanese yen is weaker this morning, while the US dollar is rebounding from oversold levels, following Trump's announcement of 25% tariffs on goods from Japan and South Korea effective August 1.
Oil prices pulled back after previous gains as investors weighed the impact of US tariffs and a larger-than-expected OPEC+ output increase for August. Gold remains under short-term pressure amid the dollar's rebound.
The South African rand weakened significantly yesterday against the stronger US dollar but has begun recovering some losses this morning. The JSE All Share index is expected to open flat to slightly higher today.
This update is provided by Shaun Murison. Connect with him on LinkedIn here.
Key Indicators: USD/ZAR R17.79/$ | US 10yr 4.39% | Gold $3,333/oz | Platinum $1,382/oz | Brent Crude $69.22 |
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