| Good morning Voornaam, Yesterday was such an odd day on SENS. By late morning, it looked like I might have to take up tap dancing to entertain you this morning, as there was nothing going on. Thankfully, we ended up with a decent news day - and one that is completely devoid of any earnings announcements! Like I said, odd.
This means you have lots of M&A news to sink your teeth into, including a couple of major deals closing at the likes of Lesaka and Powerfleet. There's a potential deal on the table at Clientele, although details are limited at the moment. Delta Property Fund and Brimstone have also been busy with corporate activity.
Get it all in Ghost Bites, your one-click summary of local company news at this link>>>
You want to do your own research into stocks, but it's rather daunting right? This is especially true for the financial statements, which don't make life easier for anyone. I can't simplify IFRS for you, but we've put a lot of effort into recent "how to" shows on Magic Markets to help you get to grips with the complicated stuff. The brand new episode is about how to read a balance sheet. Challenge yourself to grow as an investor by listening to it here>>>
There's also a brand new Ghost Wrap for you with thanks to Forvis Mazars. I covered Nampak, Spar, Metair and Transaction Capital in this fast-paced podcast. You can easily get through it in your coffee break, so make something warm and join me here>>>
Investing requires a specific skill set and approach. The same is true for trading. If you learn about both, you'll give yourself the ultimate toolkit for success in the markets. IG Markets South Africa has shared another great piece with us, this time on how to create a trading plan in 7 steps. Learn all about the elements of these plans here>>>
For the auditors amongst you (and those interested in AI), Dinesh Gurlal of Forvis Mazars has written a piece on how African auditors have an opportunity to leapfrog to the latest technology. That's a pretty interesting concept that has broader application, as "first mover disadvantage" is something I've always found fascinating. Read it here>>>
Finally, get the diaries out and register for Pan African Resources on Unlock the Stock, with the event scheduled for 10 October at midday. Yes, that's next week! Register for free here>>>
Have a great day! |
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| FEATURED: The Trader's Handbook Ep 7 |
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| | | IG Markets Episode 7: Building on previous discussions around technical trading indicators, we explored the concept of volatility and its significance in managing risk. We talked about stop losses, leverage and position sizing. We also included a piece on support and resistance lines. Learn all about it at this link>>> |
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| FEATURED: CA Sales Holdings on Unlock the Stock |
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| Unlock the Stock: CA Sales Holdings has been a regular feature of Unlock the Stock. Those who have backed the strategy have gotten excellent returns from it. In this video, they presented the recent numbers and engaged with the audience's questions. Get it here>>> |
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| Satrix: Index-tracking and the balance between returns and fees |
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| | | Satrix: The importance of fees in an investment strategy cannot be emphasised enough, especially when you consider the power of compounding. In this piece, Satrix explains how index-tracking strategies help balance returns and fees. Find it here>>> |
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| Dominique Olivier: Gentrification, gondolas and gelato |
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| Dominique Olivier: There aren't many professions out there that are still passed down through multiple family generations. Although Venice shows signs of gentrification, the gondolier industry isn't one of them. Read more here>>> |
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| Magic Markets: How to Read a Balance Sheet |
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| | | Magic Markets: The balance sheet is often the difference between success and failure for a corporate.
Reading a balance sheet is a key step in equity analysis, but what are the most important things to look out for? Get it here>>> |
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| Ghost Bites - local company news: |
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| Ghost Bites: The latest on Brimstone - STADIO, Clientele, Delta Property, Lesaka and Powerfleet along with numerous Nibbles in Ghost Bites here>>> |
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| | | Ghost Wrap: Get up to date on the performance and latest news at Nampak, SPAR, Metair and Transaction Capital in just a few minutes. Brought to you by Forvis Mazars, you can enjoy Ghost Wrap here>>> |
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| Investec podcast: responsible investing |
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| | | Investec Wealth & Investment International has launched a comprehensive guidebook on responsible investing. In the latest episode of the No Ordinary Wednesday, Jeremy Maggs speaks to the authors, Boipelo Rabothata and Maxine Gray. Enjoy it here>>> |
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| International Business Snippet: |
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| The disaster at Stellantis continues, with sales in the US in the third quarter down by 19.8%. Honestly, if you can't sell Jeeps in America, then there isn't much hope. I cannot see how CEO Carlos Tavares can possibly keep his job for much longer.
For the PGM enthusiasts among you, it's quite fun to see that Costco will now sell platinum bars on its website. They've already been selling gold bars and silver coins, with platinum now on the list. Costco is the weirdest thing really, with a business model that looks like Makro on one end and a warehouse of commodities on the other.
Finally, Levi's numbers weren't great. Revenue was a slight miss and earnings per share was modestly ahead of estimates. They've trimmed revenue guidance to growth of just 1%. They are going to get rid of Dockers, which saw its sales drop by 15%.
Our latest research in Magic Markets Premium is on Verizon. Do the economics for telecoms players look any better in the US than in South Africa? You'll find out in the latest report for our subscribers this week. |
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| IG Morning Call: daily macroeconomic update |
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| While US and European index futures are pointing to a marginally lower start, Asian equity markets are trading mixed this morning, with Japan’s Nikkei posting significant gains and China’s Shanghai Composite Index posting significant losses. Chinese benchmark indices appear to be taking stock of their recent stimulus rally, while the Nikkei is reacting to dovish commentary around monetary policy from Japanese authorities.
On balance we are expecting a flat to marginally lower start for the JSE All-Share Index this morning.
The dollar has firmed against a broad basket of currencies including the rand, as short term risk appetite wanes on escalated Middle Eastern tensions. Gains in the greenback are most notable against the weaker yen, following softer guidance for rates by the Bank of Japan.
Gold and oil prices are tracking sideways this morning, although remain elevated after yesterday’s gains on the back of geopolitical tensions.
Traders will be keeping an eye out for Weekly Unemployment Claims and ISM Services PMI data out of the US this afternoon.
Key Indicators: USD/ZAR R17.41/$ | US 10yr 3.79% | Gold $2,656/oz | Platinum $988/oz | Brent Crude $74.69
The macroeconomic update is based on IG's morning call update |
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