| Good morning Voornaam, Yesterday was a relatively quiet day of news, which is a great opportunity to catch your breath and make time for podcasts and anything else you might have missed (like the latest Magic Markets podcast talking about the value of investing in the world's most important brands). Don't ignore the news that did come out, with Richemont reporting flat sales growth in a week that has been poor for luxury stock sentiment. Somehow, the Richemont share price shrugged it off. Read about that here.
Other brand new content includes the Satrix July newsletter, which gives you an excellent overview of how global markets have performed year-to-date. Offshore has been the clear winner for the first half of the year, but what will the second half bring us? Read it here.
It's almost time for the Unlock the Stock property sector session on Thursday, including a great presentation by Keillen Ndlovu. I know what he's going to cover and believe me, there are some excellent charts in there. This is an incredible opportunity for retail investors to get access to a top analyst - for free! All you need to do is register here to attend.
Have fun in the markets today! |
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| FEATURED: Utshalo wants more retail investors |
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| Utshalo: Paul Miller is passionate about the markets and retail investor participation. In this podcast (and full transcript), he walked me through Utshalo and how they help listed companies (like Orion Minerals) raise capital from retail investors. Find it here>>> |
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| FEATURED: Investec Structured Products - new product launches |
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| | | Investec structured products: Andri Joubert joined me to unpack the Rand Nikkei 225 Autocall and the Dollar Euro Stoxx 50 Autocall.
Expand your knowledge of investment opportunities through this podcast and transcript. |
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| FEATURED: Stigler's Law - whose idea is it anyway? |
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| Dominique Olivier: When you learn that originality is a myth anyway, you feel a lot less pressure to be innovative and do something important. And that is liberating. Read more here. |
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| FEATURED: The Trader's Handbook |
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| | | IG Markets collaboration: In the first episode of this exciting new podcast series, Shaun Murison of IG Markets South Africa joined me for an introduction to the art of trading and why we are doing this series. Get ready to learn about this wonderful element of the markets at this link>>> |
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| | | Ghost Wrap: You need just five minutes to get the latest on a few stocks that I think are worth watching in a GNU environment. KAP, Sephaku Holdings, ArcelorMittal and Nampak are all waiting for you, brought to you by Forvis Mazars. Listen to it here>>> |
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| Unlock the Stock: PBT Group returned to Unlock the Stock to present the recent numbers and take questions from the attendees of the live event. With many topics covered, this recording is well worth watching>>> |
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| Magic Markets - investing in global BRNDZ: Together with Craig Antonie of AnBro, we talked about the value of investing in a portfolio of companies with the most valuable brands. This lends itself well to a long-term, offshore strategy. Find it here>>> Investec No Ordinary Wednesday podcast: The market may be unpredictable, but your investment strategy doesn’t have to be. Investec Investment Management experts share their insights on what approaches are winning, common mistakes investors make, and why staying the course is important. Enjoy it here>>> |
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| International Business Snippet: |
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| The major US banks tend to report in the same week, so forgive me for another morning of banking-focused updates. Morgan Stanley is the latest name to beat estimates on both revenue and earnings, with trading and investment banking results coming through strongly. The wealth management division wasn't so good however, which is a worry for the market as this is seen as high quality recurring income that achieves a strong valuation multiple as part of the overall bank's value.
Stalwart Bank of America also beat on revenue and earnings. Although profit dipped year-on-year, the bank gave strong guidance to the market on net interest income and the share price appreciated that.
The chart below shows that it almost didn't matter which of the US banks you bought this year. Thematically, it's been a great place to play!
If you want to become a better stock picker, Magic Markets Premium is perfect for you. We covered Tesla last week and we are covering Costco this week. To get access to this research and the rest of the vast library, subscribe to the platform here. |
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| IG Morning Call: daily macroeconomic update |
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| The dollar has softened despite stronger-than-expected US retail sales data yesterday, with the prospect of a nearing rate cut overshadowing the news.
The rand managed to claw back much of the previous day’s losses against the greenback, now trading at R18.05/$.
US equity markets were led by gains in banking counters overnight which saw the Dow and S&P500 testing new high territory once again. US Index futures are however suggesting a softer start for today.
European and Asian equity benchmarks are trading mixed this morning ahead of inflation data today and policy meeting outcomes tomorrow.
Our local bourse the JSE All-Share Index is expected to open flat to marginally lower this morning.
Oil prices have continued to drift lower on the suggestion of slowing demand, particularly from China whose imports of the commodity have been diminishing.
Gold has now reached new all-time highs, finding support from a weaker dollar.
Key Indicators: USD/ZAR R18.05/$ | US 10yr 4.16% | Gold $2,466/oz | Platinum $1,001/oz | Brent Crude $83.02
The macroeconomic update is based on IG's morning call update |
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