Good Morning Voornaam

A 0.9% drop in the gold price yesterday meant that the “loserboard” was littered with gold mining companies. I want to draw your attention to Pan African Resources, as this mining house has just announced an important step for our country as a whole: the commissioning of the first 10MW solar PV project by a local mining company. With load shedding as a widely recognised swear word, any efforts by large companies to go off-grid and simultaneously reduce emissions can only be applauded. You’ll find more details in this article.

Another industry at the core of our country is agriculture. Kaap Agri’s interim results are well worth a read, with some fascinating insights. Did you think that higher fuel prices mean that forecourts make more money? Think again… and learn about this and more at this link.

Ghost Bites was an absolute hit yesterday and I’m thrilled about that. I’m excited to bring you a daily article that covers all the snippets from the day before on the JSE. You’ll always find it as the first link in the article list below and here on the website.

Before we get to that, here’s the latest from Wichard Cilliers, Head of Market Risk at TreasuryONE:

The volatility we saw over the past few weeks in the rand came to a halt yesterday, with markets focusing on the US CPI print today. During our local session, the rand traded in a relatively narrow range of roughly 10 cents and ended around R16.12. Other emerging markets are also tracking the movements in the rand as the market is yet again playing the waiting game. US yields are still key to watch, with the 10Y yield below 3% again. We will see what happens to the yields after the CPI release and whether it has an impact on interest expectations in the US.

Speaking of that inflation data release, the TreasuryONE team goes into more detail in this excellent article.

Finally, get those headphones on and listen to the latest episode of Magic Markets. We welcomed Andries Retief (a South African who is the CEO of DHL’s Central and Eastern Europe business) to the show to give us insights into the geopolitical situation in the region. Of course, we talked about the economic impact as well, including both the risks and the opportunities. You’ll find it here.

Have a fantastic day and I hope you successfully navigate your way around load shedding!