| Good morning Voornaam, A short week certainly doesn't mean a lack of news, with enough on SENS yesterday to make up for the day off on Monday.
But before we get into that, you have the opportunity to optimise your tax position with a 235% tax deduction. Jaltech’s latest Section 12B solar investment is now launching. Register here to attend the upcoming webinar and learn more.
Onwards to company news we go, with property duo Vukile and Stor-Age leading the way. Vukile just keeps going from strength to strength, with the portfolio doing well in both South Africa and Iberia. As for Stor-Age, the market was less than appreciative of the decision to decrease the payout ratio from 100% to 90%, marking the start of a new chapter for the group in which they will look to put the retained earnings to good use.
Elsewhere in property, Assura has agreed to consider the revised terms from Primary Health Properties and they've committed to send out a response circular before the end of the month. I still believe that the cash offer from KKR and Stonepeak will come out on top here, despite the best efforts of Primary Health.
In other news, Astoria has given a portfolio update and Gemfields has some ruby auction results for you to chew on. Finally, Powerfleet is big on revenue and light on profits at the moment, as is the classic US tech company approach.
Get the details on all these updates and the Nibbles in Ghost Bites at this
link>>>
The markets are so busy each day that it becomes easy to forget to lift your head and see the bigger picture. A recent podcast with Siyabulela Nomoyi of Satrix was focused on the market performance since COVID, giving us a great opportunity to dig into the relative index performance and what the winners and losers have been. If you haven't gotten round to it yet, I highly recommend that you check it out here>>>
Have a lovely day! |
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| SATRIX: Life after COVID - a five-year review of the markets |
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| | | Five years ago, the world was a wild place. We were "staying home and staying safe" - and global central banks were cutting rates dramatically in an effort to stimulate economies under impossible circumstances.
With a great selection of statistics to share with the listeners, Siyabulela Nomoyi of Satrix was a wealth of knowledge in this podcast about how markets have performed in recent years, particularly in terms of which indices did well and which were disappointing.
Get a healthy dose of market insights at this link>>> |
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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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| | | Vukile released strong numbers. Stor-Age's decreased payout ratio set a few hares running. Powerfleet needs profits, not just revenue growth. Look out for Assura - Primary Health, Astoria and Gemfields as well. Get the details in Ghost Bites>>> |
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| Unlock the Stock - Greencoat Renewables |
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| In the 55th edition of Unlock the Stock, Greencoat Renewables joined us for the first time ahead of their debut on the JSE. The recording of the management presentation and interactive Q&A is available at this link>>> |
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| DOMINIQUE OLIVIER - "Big Ostrich": feathers, food and a high-flying future |
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| | | Ostriches might not fly, but their numbers (and their impact) are soaring. From dusty Karoo farms to global sustainability debates, this big bird is quietly paving the future of meat production. Welcome to the surprising world of ostrich farming, as explained by Dominique Olivier in this piece>>> |
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| INVESTEC PODCAST: No Ordinary Wednesday - a 20-year perspective on global investing |
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| | | Twenty years on, the managers of the Investec UCITS World Axis Core Fund reflect on what two decades of global investing have taught them and what investors should expect next. Join Investec Investment Management’s Head of Multi-Manager Investments Ryan Friedman and Fund Manager Bronwen Trower in conversation with Jeremy Maggs in this podcast>>> |
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| International Business Snippet: |
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| The AI war shows no sign of slowing down, with Sam Altman making public comments about how Meta is trying to poach staff from OpenAI with promises of huge bonuses. Although Meta hasn't confirmed or denied this from what I've seen, it is true that Meta is throwing money at the AI problem. Just last week, they announced the acquisition of a 49% stake in startup Scale AI, with founder Alexandr Wang banking a serious number in the process.
Recent research in Magic Markets Premium has covered Intel, Waste Management (possibly the best company you've never heard of), Novo Nordisk, Simon Property Group, TJX and NVIDIA. Our focus is on giving you broad exposure to global stocks, with enough underlying detail to help you make better decisions and learn tons along the way. The entire library is available for just R99/month, a deliberate strategy to make it as accessible as possible. Invest in yourself and give it a try! |
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| Magic Markets: Mesh.Trade and the Titans |
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| | | Magic Markets listeners have become familiar with AnBro’s approach to building global equity portfolios with different mandates. Titans is just one such example, focusing on an equal-weighted portfolio of best-of-breed stocks across various sectors.
With Titans now available on Mesh.Trade’s platform alongside the other AnBro offerings, it was the perfect opportunity for Craig Antonie of AnBro to join us to talk about the fund strategy, accompanied by Connie Bloem of Mesh.Trade to talk about the platform offering.
We covered these topics here>>> |
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| Macroeconomic indicators and macro update |
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| US President Donald Trump's calls for Iran's unconditional surrender, and his remarks suggesting a tougher stance, have heightened concerns about increased US involvement in the Israeli-Iran conflict. Despite this, US and European futures markets have partially rebounded from yesterday's losses, while Asian shares continue to decline.
The dollar index strengthened overnight, putting downward pressure on gold prices. Oil prices surged over 3% yesterday due to Middle East geopolitical tensions but are moderating somewhat this morning.
The Federal Reserve's FOMC meeting is underway today, with the central bank expected to keep interest rates steady amid ongoing inflation concerns linked to tariffs. No rate cuts are anticipated before September or later.
Locally, the rand weakened against the stronger dollar yesterday, and the JSE All-Share index closed significantly lower. The local stock market is expected to open flat this morning.
This update is provided by Shaun Murison. Connect with him on LinkedIn here.
Key Indicators: USD/ZAR R17.95/$ | US 10yr 4.40% | Gold $3,382/oz | Platinum $1,269/oz | Brent Crude $71.40 |
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