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Good Morning Voornaam,

Ghost Bites:

The DIY and building industry keeps falling, evidenced by Cashbuild's latest numbers
CMH has posted another bumper earnings result but you must read the outlook section
Hyprop gets a positive credit outlook (happy news for this Ghost as I'm up nicely in this stock)
Pick n Pay's share price fell 9% after releasing interim results that looked ok overall

Today's selection of stories has a strong focus on South African consumers. Grocery retail looks ok but discretionary spending (home improvement and cars) is under pressure.

The DIY and building industry has b een in pain for a while now in the aftermath of the pandemic. People moved from Staying Home and Staying Safe to Going Out and Going Wild, which means there isn't much money leftover for paint.

The car industry has been flying and CMH's results look fantastic. The future is what counts though, with dire warnings issued by the company in the outlook section of the report.

I highly recommend that you read Ghost Bites this morning>>>

All eyes on the UK and the Fed

With a lack of data out of the US this week, the market is watching the developments in the UK as the country tries to revive a struggling economy and steady the pound. The randnt> and euro were range-bound yesterday, while the pound trading in a wider range as a result of the volatility in sentiment towards that economy.

The strong dollar has been holding gold back from regaining any sort of momentum and yesterday was no different, with the ever-suffering yellow metal under pressure once more around the $1,650 mark. Brent Crude is back below $90 as global demand concerns outweighed the proposed cuts by OPEC+.

Importantly, the US 10-year yield dipped back below 4%.

To understand more about the pressure on the pound this week, you can read this short and insightful piece by Andre Botha of TreasuryONE >>>

Don't miss these learning opportunities

Unlock the Stock is coming up on Thursday at midday. Pan African Resources and Calgro M3 will be presenting this week and attendees will be able to ask questions at the end of the presentations in dedicated breakout rooms. This platform lets you be a sell-side analyst for the day! All you have to do is register for this one-hour event (for free!) at this link>>>

Don't fall behind on Magic Markets episodes! With a new episode about to be released, make sure you've listened to Episode 97 in which we discussed some of the common mistakes made by investors and traders. There are many good reasons why Magic Markets is currently 4th in South Africa on the Apple podcast chart in the Investing category. Listen for yourself at this link>>>

Have a lovely Wednesday!

Ghost Bites (Cashbuild | CMH | Hyprop | Pick n Pay)

The DIY and building industry keeps falling. CMH posts another bumper earnings result. Hyprop gets a positive credit outlook. Pick n Pay is on sale.

British pound: the new emerging market currency?

TreasuryONE's Andre Botha looks at the volatility in the pound in a week that is almost devoid of data.

Magic Markets Ep97: Market Mistakes we all Make

I'm so proud of this episode. We talked about some of the common mistakes that everyone makes in the market (including us). There's something to learn in here for everyone.

Listen Now

The bizval podcast: Buying and selling tech companies with Jonathan Kropf

Jonathan Kropf is the founder and CEO of Velocity Group. He knows a thing or two about building, buying and selling tech companies. Come and learn with us.

Listen Now

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