Balwin isn't doing well. That's nothing new, if I'm honest. The share price has been washing away since COVID (and since it listed in 2015, frankly), with the recent GNU-inspired rally giving some respite at least. The market is hoping that a dip in interest rates will get some activity back into the residential property market, with Balwin as an obvious beneficiary. As the latest results show, it's been a tough time for them - even if management is trying to get creative in putting a positive spin on the numbers.
Over at Alphamin, no spin is necessary. With Mpama South making a contribution for the entire quarter, they broke records for tin production and locked in a 69% increase in EBITDA vs. the preceding quarter. Alphamin's share price is up roughly 30% in the past year!
Other stories include Vukile unlocking capital in Spain at a great price, Hammerson raising debt with a long-dated bond, Jubilee Metals releasing results that show the difficulties with PGM pricing and Telemasters reporting a sharp drop in earnings.
Get it all in Ghost Bites, your one-click summary of local company news at this link>>>
If you want to be a successful trader in the market, then you need to understand the delicate balance of risk and return. It takes a lot of discipline and skill, along with some luck along the way. That's what makes the markets so fun! Giving yourself the best possible chance means assessing risks and learning to read charts. If you haven't checked it out yet, the most recent episode of The Trader's Handbook dealt with topics like risk management (e.g. stop losses and position sizing) and the power of support and resistance lines on charts. Enjoy it here>>>
You know what Friday means - excellent deal summaries from DealMakers! Get the latest on South African M&A, South African corporate finance and deals in Africa.
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 start to your weekend. We will see you on Sunday morning for Ghost Mail Weekender. |
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FEATURED: African auditors must seize the AI opportunity |
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Dinesh Gurlal of Forvis Mazars: Lack of investment in technology by African audit firms creates an excellent opportunity to jump straight into the future with AI, leapfrogging legacy approaches. Read more here>>> |
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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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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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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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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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Ghost Bites - local company news: |
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Ghost Bites: The latest on Alphamin, Balwin, Hammerson, Jubilee Metals, Telemasters and Vukile 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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In an interview with CNBC, Air New Zealand CEO Greg Foran sang Starlink's praises and highlighted that it should end the days of dicey Wi-Fi on airplanes. If it sounds odd to you that US-based airlines are somehow missing out, don't worry - United Airlines has signed the largest agreement in the industry thus far (of course), with testing on their planes set to begin in 2025. Importantly, the Wi-Fi would be bundled into ticket prices rather than sold as an add-on, getting rid of a major friction point when flying. For those travelling to Paris, you'll be pleased to know that Air France has similar plans.
Moving on to another disruptor, Shein is reportedly having meetings in London ahead of its planned IPO. After the US market shunned them, London became the next obvious choice. They are struggling for new listings in London, partially because of Brexit and partially because Europe has completely missed the technology boom. Shein still needs to get approval from regulators in Britain though, so it's by no means a guarantee that a blockbuster IPO will happen.
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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Asian equity markets continue to test near-term highs, still buoyed by recent economic stimulus efforts by Chinese policymakers. US and European Index futures are however trading in a muted fashion ahead of this afternoon's US employment data and while geopolitical tensions persist. On balance we are expecting a flat start for the JSE All-Share Index this morning.
The dollar has continued to firm with US Treasury yields, finding safe haven appeal amidst escalating tensions in the Middle East. Dollar strength is in turn equating to rand weakness.
Oil prices have surged as US president Joe Biden contemplates retaliation on Iran’s oil facilities in response to the region’s recent ballistic attack on Israel.
Gold has edged slightly higher, balancing the geopolitical quandary against the firmer dollar.
Traders will be keeping an eye out for US Non-Farm Payroll and Unemployment Rate data out this afternoon.
Key Indicators: USD/ZAR R17.46/$ | US 10yr 3.84% | Gold $2,664/oz | Platinum $1,004/oz | Brent Crude $77.44
The macroeconomic update is based on IG's morning call update |
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