| Good morning Voornaam, Quick links: The chickens will soon be flying the coop at RCL Foods, with an unbundling of Rainbow on the table. Aside from the strong results at RCL Foods, there's also news from AfroCentric, Aspen, AVI, Bidvest, Hulamin, MAS, Merafe, Metrofile, Netcare and Raubex - a very busy day for an interesting variety of companies. Get it all in Ghost Bites, brought to you by Fedgroup. RCL Foods wants to make sure you fully understand the latest interim financial results at the company, so they've placed the results in Ghost Mail for your convenience. Find them here>>> Nico Katzke of Satrix weighs in on the AI debate and asks some pertinent questions about whether this is a fad or the future - and how best to invest in it. Read the piece here>>> Dominique Olivier tells us the story of creatives fighting back against AI - literally! In this rage against the machine, artists are fighting for their intellectual property rights in extraordinarily interesting ways. Read about it here>>> A brand new episode of the Magic Markets podcast gives you the latest on Cashbuild, Italtile and Home Depot, made possible by B2IT. Made possible by Mazars, the latest episode of the Ghost Wrap podcast brings you the latest on NEPI Rockcastle, Vukile, Italtile, Bidcorp, Spar and Pick n Pay - available here |
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| LISTEN: The ETF product design process
with Siyabulela Nomoyi of Satrix |
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| | | Delving into the ETF product design process and with a discussion on the latest ETF product launches at Satrix, Siyabulela Nomoyi joined me for this insightful conversation.
Don't miss it! |
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| READ: Rage against the machine: creatives vs. AI
(by Dominique Olivier) |
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| As AI threatens the livelihood and intellectual property rights of many artists around the world, Dominique Olivier tells the story of Glaze and Nightshade - the weapons being used by artists as they rage against the machine. Read it here. |
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Local company news:
Ghost Bites is brought to you by Fedgroup.
With a recovery like this, I'm not surprised that RCL Foods wants you to get all the details on its results in this article. My views on the numbers are in Ghost Bites as usual, with the jump in HEPS from continuing operations of 52.6% giving us a good news story yesterday. Look out for the future unbundling of Rainbow, splitting the RCL Foods group into chicken on one side and other foods on the other.
As for the rest of the day's news, it's a real mix between companies that are managing to achieve some compelling numbers under the circumstances (AVI / Bidvest / Merafe / Raubex) and those that are struggling to find meaningful growth (AfroCentric / Aspen / Hulamin / Metrofile / Netcare). You should also read the update on MAS as a good example of how tough things get out there for even well managed property companies that find themselves on the wrong side of credit market trends.
Get all the details in Ghost Bites here>>>
There's a brand new episode of the Ghost Wrap podcast for you to enjoy, made possible by Mazars. In the time it takes to drink your coffee, you can get the latest on NEPI Rockcastle, Vukile, Italtile, Bidcorp, Spar and Pick n Pay. Get it here>>> |
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| READ: Artificial Intelligence - fad or future, and how best to invest
(by Nico Katzke of Satrix) |
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| | | Nico Katzke of Satrix asks the real questions when it comes to AI, including the ones that few seem to be asking about its sustainability.
Get his views here. |
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| LISTEN: Magic Markets podcast |
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| In Episode 164 of Magic Markets, we compared an offshore giant to South African equivalent companies. Home Depot is the US blue chip and Cashbuild and Italtile are the local choices.
By kicking off with how terrible local macroeconomic conditions have been for Cashbuild and Italtile, we make the case for learning about and investing in offshore alternatives.
Expand your horizons in this podcast, brought to you by data and process automation specialists B2IT. |
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| Currencies, commodities and rates: TreasuryONE Market Update The market will be watching this afternoon's US Services PMI and the ISM non-manufacturing PMI numbers for further signs of a slowing US economy.
In Japan, core inflation jumped from 1.9% in January to 2.6% in February, but the yen didn't react to this shift. In China, the government set a GDP growth target of 5.0% this year that disappointed the market, as higher growth targets were expected.
Local GDP data is due later today, with the year-on-year number expected to be 0.9% vs. the previous -0.7%.
There's more good news for gold bulls, with the metal up to $2,117 this morning on the back of softer US economic numbers.
Remeber, the TreasuryONE YouTube channel is a wealth of knowledge and insights into the market. Find it here>>>
Key indicators: USD/ZAR R19.07; US 10-year 4.21%; Gold $2,117; Platinum ZAR R17,006; Brent Crude $82.59 |
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| READ: Stability doesn't always have to come at a cost
with Fedgroup |
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| | | Fedgroup believes that a combination of fixed-term investments can do more than just withstand a battering. In fact, they cann offer solid returns as well.
Learn more here. |
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International company news:
If you can believe it, Southeast Asian tech giant Sea Limited (remember that one from the pandemic?) has finally turned a profit, posting $162.7 million in net income in 2023 vs. a loss of $1.7 billion in 2022. Talk about having a deep hole to climb out of. After peaking at nearly $360 per share in late 2021 when every kid with the internet was the latest Warren Buffett, the share price fell as low as $34 in the past year. It's currently at $53.
There's also news of more price cuts on electric vehicles in China, including at Tesla. This is such a dangerous trend for the companies operating in this space, as deflation simply encourages customers to sit back and wait to see how low the prices will go before buying a car. It also really hurts those who bought previously.
If you're looking for a textbook example of a "red ocean" of competition, the Chinese EV market is a good one.
If you're reading this section every day, it's because you want to cast your eyes farther afield for opportunities. Magic Markets Premium is your key to understanding global stock opportunities, with new stock research every week and a subscription price designed for South Africans.
For just R99/month, you get access to the entire library of around 120 research reports and podcasts. Expand your investment horizons by subscribing here. |
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| READ: Satrix launches Satrix JSE Global Equity ETF |
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| | | Satrix is releasing a new product that gives a higher weighting to local companies with international listings.
In other words: more of an offshore component. Find out more in this article. |
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Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
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