| Good morning Voornaam, Lucky number 13 - that's how many important announcements there were yesterday. It really has been a crazy week, hence why the mailer has been coming out a bit later each morning. There's just so much to work through!
In Ghost Bites today, you'll find details on the recent numbers from Spar and how concerning they are. In other retail news, Truworths will also disappoint you with their interim performance.
The financial services duo of OUTsurance and Sanlam will do their best to put a smile on your face on this fine Friday morning, with great numbers from both. The property sector will add to the joy, with Fortress Real Estate and Shaftesbury doing rather well at the moment.
This will be necessary to prepare you for the share price drop at Motus, the earnings decrease at MTN and just how long KAP thinks it will take for their newly-built capacity to be absorbed in the market. AfroCentric also released ugly numbers.
In mining, Harmony Gold obviously had a great year and Impala Platinum didn't. In both cases, the underlying commodity price makes all the difference.
That's not all, folks. Adding further to an exhausting week, Life Healthcare released the circular for the LMI disposal. That's a very large transaction and the advisors must have their local Porsche dealer on speed dial based on the fees.
There is truly only one place in the market where you can get all the details on all these stories (and the Nibbles) with one click. You'll find the insights in Ghost Bites>>>
To further improve your Friday, DealMakers is here with their usual assortment of summaries of local M&A, local corporate finance and African deals. To add to this, there are pieces on AI considerations in M&A, as well as private equity trends in 2025.
With the end of the tax year upon us, I hope you've maximised your tax-free investment annual allowance. I also hope that you've got a plan for how to maximise it next year. To explain why this structure is so powerful and should never be wasted, Siyabulela Nomoyi of Satrix joined me on this podcast>>>
In the latest No Ordinary Wednesday podcast presented by Investec, Jeremy Maggs and Tinus Rautenbach discussed whether the tech titans in the US can continue to dominate the market this year. Find it here>>>
Have a lovely day! |
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| INVESTEC: International Opportunities Limited - a Chinese equity structured product |
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| China is a land that is fraught with risk and brimming with opportunity. With enhanced upside as well as downside protection, International Opportunities Limited is a structured product that seeks to balance the risks and rewards available in Chinese equity markets.
International Opportunities Limited offers 1.3x geared exposure to the CSI 300 Index, capped at 60% growth for a maximum return of 78% in USD. In addition, there is 100% capital protection at maturity in USD.
Japie Lubbe of Investec Structured Products joined me to discuss the structure in detail. Get it here>>> |
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| SATRIX: Don't waste the TFSA opportunity |
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| | | Tax-free savings accounts (TFSA) are one of the most building blocks in any equity portfolio. The advantage of compounding tax-free returns over a long period is incredibly powerful and can really turbocharge a long-term wealth creation journey.
To discuss the importance of TFSA investments and the opportunities available to investors in the ETF universe, familiar voice Siyabulela Nomoyi of Satrix returned to the Ghost Stories podcast.
Enjoy it here>>> |
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| GHOST WRAP: Retailers on sale on the JSE - a review of the first few weeks of 2025 |
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| The retail sector got off to a very poor start in 2025. With practically the entire sector down, are there stocks that were punished more than they should've been?
This podcast is a useful summary of recent retail updates across the clothing and grocery sectors, as well as other relevant areas.
You can find the recording and the transcript (with charts) at this link>>> |
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| GHOST BITES - Making sense of SENS on the local market |
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| | | On a crazy busy day of news, we saw updates from AfroCentric, Fortress, Harmony Gold, Impala Platinum, KAP, Life Healthcare, Motus, MTN, OUTsurance, Sanlam, Shaftesbury, Spar and Truworths. All the details are in Ghost Bites>>> |
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| Barloworld: standby offer triggered following scheme of arrangement vote |
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| Barloworld has released a detailed media statement dealing with the mechanics of the standby offer, as well as the official response by the board to corporate governance concerns raised by the market. I highly recommend that you read it here>>> |
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| DOMINIQUE OLIVIER - Get rich or dope tryin': business lessons from Lance Armstrong |
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| | | Some people will do absolutely anything to win. In some instances, we call that determination. In others, we call it greed. Just how blurry is the line between those two things? Take a lesson from the most tested athlete in the world. Read it here>>> |
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| INVESTEC PODCAST: Can tech titans keep up the pace? |
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| | | Big tech stocks have stabilised after the DeepSeek shock in January, but will they continue to dominate the market this year, or is the next disruption around the corner? Tinus Rautenbach, head of Investec’s new trading and investing platform, Clarity, shares his views on the latest episode of the No Ordinary Wednesday podcast. |
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| International Business Snippet: |
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| Shares in Rolls-Royce (the aerospace company, not the car company) hit new all-time highs after the release of earnings and the upgrading of mid-term guidance. Take the Rolls-Royce Phantom out of your mind - this is the business that manufactures things like jet engines for aircraft and power systems for submarines!
Of course, increased military spending in the UK and Europe will do wonders for not just the outlook here, but also investor sentiment.
Our latest research in Magic Markets Premium is on The Trade Desk, a company that sits right at the heart of the omni-channel advertising space. By connecting agencies with a variety of advertising opportunities for their clients, the company enjoys wonderful growth tailwinds. It also trades at an insane multiple, which makes the analysis harder than you might think. Our subscribers can enjoy our detailed work on this growth stock. |
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| Magic Markets: Private markets are a hive of activity |
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| | | Magic Markets: For companies seeking capital, founders wanting to exit their stake and investors who desire diversification and solid returns, private debt and equity markets offer a vibrant ecosystem. Dino Zuccollo of Westbrooke Alternative Asset Management joined us to discuss trends and strategies in this asset class, along with general levels of adoption by investors. Get the insights in this podcast>>> |
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| Global markets are experiencing heightened risk aversion as multiple factors converge. President Trump has confirmed that previously delayed tariffs on Mexico and Canada will take effect next week, while also announcing new tariff plans targeting Europe and China. This trade tension escalation, combined with a significant tech sector sell-off, has created a pronounced risk-off trading environment.
The Nasdaq has spearheaded a broad equity market decline that has now extended into Asian trading sessions this morning.
Meanwhile, the dollar has strengthened, though interestingly, the US 10-year Treasury yield has moved lower today, contrary to typical correlations.
The JSE All-Share Index is expected to open lower this morning in sympathy with its global peers. The rand has weakened further against a stronger greenback.
In commodities, oil prices have bounced from two-month lows following indications that OPEC+ may postpone planned production increases. Gold continues its downward correction from record highs, moving inversely to the strengthening US dollar.
Key Indicators: USD/ZAR R18.47/$ | US 10yr 4.22% | Gold $2,865/oz | Platinum $951/oz | Brent Crude $73.00
As often as practically possible, insights from the IG Markets morning macro update by Shaun Murison will be featured here. Where this isn't possible, only indicators will be provided. If you want to learn more about trading, refer back to The Trader's Handbook, a podcast series that takes you through many of the important principles in trading. |
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