| Good morning Voornaam,
Well, the extremely good news is that we are through to the quarter finals. That's about the best thing I can say about a weekend that was ruined by a great deal of terrible news coming out of Israel.
This isn't a political platform and never will be. The most you'll read about here is the impact of this conflict (and generally terrible human behaviour) on the markets.
History tells us that the oil price spikes during a major conflict like this. If you're thinking of taking out maximum debt to buy that shiny new car, I would calm down and buy a 3-year-old car instead. Or, better yet, a 10-year-old car. There's a good chance that things are going to get worse before they get better.
With that sobering start to the week, I wish you a productive day! Thanks for kicking it off with Ghost Mail.
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| NEW: Magic Markets podcast |
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| In the aftermath of the pandemic, it's been fascinating to follow the recovery of the hospitality and tourism sector.
In the latest Magic Markets episode, we cover local hotel group Southern Sun and international cruise business Carnival Corporation.
Episode 145 of Magic Markets is brought to you by B2IT. |
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| Ghost Wrap podcast
(Rex Trueform | Barloworld | Spar | Capitec | Vukile + Attacq) |
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| | | The Ghost Wrap podcast is a great way to stay on top of local company news. I went into more detail than usual on these stories, covering an acquisition by Rex Trueform, results from Barloworld and Spar, important trends at Capitec and the outlook at Vukile and Attacq. Ghost Wrap is brought to you by Mazars. |
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| | | The lessons dished out by the markets this year have been all about how companies cope in inflationary conditions. The winners have one thing in common: pricing power. |
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| Ghost Stories podcast How have ETFs done thus far in 2023 and where was the right place to put your money? Find out in Ghost Stories with Siyabulela Nomoyi of Satrix. |
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| | For founders: the bizval podcast Designing a business through critical thinking is a major ingredient for success. Hugh Stafford-Smith from the UK spoke to me about this topic on the bizval podcast. |
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| NEW: CA Sales Holdings is a really strong example of how locally listed companies can deliver great returns. The management team returned to Unlock the Stock to unpack the recent performance and answer questions about the strategy and business model. Don't miss it! Unlock the Stock is brought to you by A2X. |
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| TreasuryONE Market Update Friday was dominated by the non-farm payrolls number in the US. The rand started the day strong and was then hit by the data release, as payrolls came out at 336,000 vs. 170,000 expected, while unemployment stayed at 3.8%. The rand jumped from around R19.36 to the mid R19.60s. In late afternoon trade, the rand staged a comeback into the R19.40s.
As we head into a week where the markets will need to absorb the news coming out of the Middle East, gold is at $1,850 and Brent Crude is at around $87.60.
Hold on to your hats.
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| | | Get the latest on Equites, Renergen and Sibanye-Stillwater. It's all available with a single click in Ghost Bites. |
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| Social media cuts both ways It was a fairly quiet day of news on Friday, although there are still important stories to read. Equites Property Fund has declared an interim dividend that is down 19.9% year-on-year. Also, Sibanye-Stillwater has given the green light for the second phase of the Keliber lithium project.
The update that got the market talking came from Renergen, being a response to comments made on Twitter / X about the company. This is a really tricky scenario, as markets can only function with both positive and negative commentary.
After all, for every buyer, there must be a seller (and vice versa). Although it obviously isn't acceptable to allow defamation or lies (with some punters sailing close to the wind here), the market does need healthy debate to function.
On a five-year chart for Renergen, you can clearly see the impact of macroeconomic volatility and an environment of cheap money vs. expensive money (low interest rates vs. high interest rates):
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| And on a one-year chart, you can clearly see why the trajectory of the company is a cause for concern for the executives, perhaps leading to a more emotionally-driven SENS announcement on Friday than would be advisable: |
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| You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.
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.
Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.
The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. |
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