Last week was crazy on the JSE - let Ghost Wrap get you up to date! Brought to you by Mazars, I covered eight stocks in as many minutes. Listen to Ghost Wrap if you want the latest on Adcock Ingram, KAP Industrial Holdings, Motus, Tiger Brands, Quantum Foods, Libstar, Bidcorp and City Lodge. You'll find it here>>>

City Lodge is polarising opinion

It wasn't an enjoyable week for City Lodge bulls. After much hype about the performance at the end of last year, an earnings update at the start of the week caused the market to have a wobbly. On Friday, the detailed results came out and showed us what did and didn't go well.

Kudos to City Lodge: we all know what the pandemic did to this industry. The company reacted by trying to pivot away from just being aimed at business travellers, a move which probably saved the company. This included an upgrade to the food and beverage offering, which is now a meaningful revenue contributor.

As great as that is, the core business is to sell rooms. Occupancy levels have looked great recently, but the issue is that the pricing has barely moved vs. 2019 levels. We know how severe inflationary pressures on costs have been, so the margins are getting squeezed.

Are you a bull or a bear when it comes to City Lodge? If you read Ghost Bites this morning, you'll get some additional insights for your thinking on this stock. You'll also get the latest on AECI, BHP, Buka, Libstar, Old Mutual, Royal Bafokeng Platinum, Spur and Steinhoff. Get your Ghost Bites here>>>

And by the way, if you're wondering why the Salungano share price spiked and is sitting at a specific level, you'll find the answer here>>>

50 Shades of Grey(list)

So, there we have it - we are officially on the greylist, being added at the same time as Nigeria. Yikes!

The currency market didn't react as severely as some may have expected, as the news had already been priced in to some extent. If anything, TreasuryONE points out that the rand reacted more to the higher-than-expected PCE data out of the US. This is the Fed's favourite measure of inflation, with fears in the market that the Fed may need to be even more aggressive. With some panic in emerging market currencies, the rand traded at R18.47 before settling down to R18.38.

The stronger dollar also hit commodities, with gold trading at $1,810 per ounce. PGMs took a severe knock on the day, trading nearly 4% lower. In some good news for most of us, Brent Crude slid to $81.21.

And in case you missed TreasuryONE's panel discussion on the Budget Speech and my key takeouts from it, make sure you read this>>>

Magic Markets: portfolio winners and losers

In the latest episode of Magic Markets, Mohammed Nalla and I decided to talk about a few of the global stocks in our portfolio. Moe chose Visa, Disney, Simon Property Group and Fedex as his discussion points. I chose Hasbro, Accenture and Ferrari.

If you're keen to learn more about these stocks and how we think in the research we do in Magic Markets Premium, listen to Episode 113 of Magic Markets here>>>

And speaking of Ferrari, Trive South Africa has clearly been inspired by a busy motorsport month in South Africa and the pending return of Formula 1 to our screens. With Drive to Survive now on Netflix, Trive took a closer look at some of the automakers that are heavily involved in motorsport. Start your engines and enjoy it here>>>

Have a lovely Monday!