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Good Morning Voornaam,

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Ghost Bites:

Adcorp has declared an interim dividend and has reported the first year-on-year increase in revenue since August 2018
Even with solid results, Balwin's share price has hit a st ubborn resistance level yet again - what will it take to break higher?
As I've been warning for many months now, EOH needs to raise equity capital with a rights issue
MTN Nigeria reported solid free cash flow growth, with a couple of blemishes on the latest quarterly result

In addition to these major stories, there were numerous updates from companies like Astoria, RECM & Calibre, MC Mining, Tradehold, Ascendis Health and more. It took me several hours to write Ghost Bites yesterday and it will take you less than 10 minutes to read it and get up to speed with the latest news on the JSE.

Join professional fund managers in taking advantage of Ghost Bites as a time-saving tool. You c an read it here>>>

Risk-off isn't pretty for the rand

With a negative surprise from Chinese PMI data (the biggest miss since August 2021) and another Covid outbreak concern, TreasuryONE highlights that risk-off sentiment is back in the market. The rand briefly touched the R18.40 handle during the day and commodities came under pressure as well. Gold closed weaker for the 7th month in a row, having come under pressure from dollar strength.

The eurozone grew in line with expectations during the third quarter, with a flash print of 2.1%. Inflation came i n slightly higher than expected at 10.7%, with food and energy prices driving the highest reading in 19 years! The euro fell away from parity, down 0.8% on the day.

For a daily dose of insights, you can add the TreasuryONE podcast to your favourites.

On-the-ground insights from the UK

In the latest episode of Magic Markets, Richard Asherson of Westbrooke Alternative Asset Management joined us for an update on dealmaking conditions in the UK.

We dealt with topics like:

Asymmetrical returns in debt-led investment structures
Current rates in the UK vs. long-term ave rages
The impact of inflation on dealmaking
The performance of private company portfolios in this environment

We also discussed the pressure on UK consumers and businesses and how Westbrooke works with partners in this environment. This is a terrific show for anyone interested in private equity, deal structuring and investing in general. Challenge yourself, grow your knowledge and listen to it here>>>

Finally, are you keen to stand a chance to win a Takealot voucher of R8,000? Of course you are! All you have to do is fill out this survey>>>

And with that, I wish you a wonderful Tuesd ay.

Ghost Bites (Adcorp | Balwin | EOH | MTN)

Adcorp declares an interim dividend. Balwin releases solid results but the share price keeps hitting a resistance level. As expected, EOH needs a rights issue. MTN Nigeria reports solid free cash flow growth.

Are SA retail stocks just too expensive?

Chris Gilmour gives us his updated views on the defensive and discretionary retail stocks on the JSE. Has this once-glamorous sector simply become too expensive?

Ghost Global (Hasbro | Goldman Sachs | Volvo)

Hasbro's prospects are being carried by Magic: The Gathering. Goldman Sachs is at a painful point in the cycle. Volvo's sales are doing well but margins are lower.

How to own a great car, cheaply

Does an older Porsche 911 make more financial sense than a flashy new GTI? You bet it does! As a hopeless petrolhead and a finance professional, I have unorthodox views on car ownership. Warren Ingram invited me to talk about them on Honest Money.

Magic Markets Ep99: What's happening in the UK?

The UK has been so topical lately. Thanks to Richard Asherson from Westbrooke, we can bring you insights from ground-level dealmaking in that market.

Listen Now

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