I've had some positive feedback thus far on the new format of Ghost Wrap, so thank you for that. The latest edition looks back on five great insights from November. I covered the importance of per-share metrics in property, the hunger in the local market for IPOs, the recovery in the poultry sector, the disaster that is Murray & Roberts and the way in which MultiChoice has clearly bet the farm on the Canal+ deal going ahead. Brought to you by Forvis Mazars, get the podcast and full transcript here>>>
Jaltech is launching its final Section 12B investment for the 2025 financial year. They are hosting a webinar on 11 December to talk about the investment highlights and how it all works, targeting investors who would like to reduce their 2025 tax liability by taking advantage of solar investment incentives. Find out more and register for the webinar here>>>
Onwards to company news, with a far more "normal" day on SENS now that the November rush is behind us. This makes it easier to really dig into the updates, like Fortress Real Estate and just how solid life-after-REIT has been for them. They've revised their distribution guidance higher, boosted by the performance in the logistics portfolio.
Also in the property sector, we find news from Lighthouse on its European strategy. The recent focus has been on Iberia, mainly because the deals are appealing. The beauty of capitalism is that success attracts competition, so Lighthouse is finding itself facing more competing bidders for assets in that region.
In other sector news, Capital Appreciation has a great story to tell in its payments division and a really disappointing story in the software division. Things need to improve there, as the market will run out of patience at some point with the expenses in the software division. And in mining, Exxaro released an update that suggests that this won't be a very pretty financial year for the group.
Get all the details on these stories and the various Nibbles (including the all-important director dealings) in Ghost Bites here>>>
Keen to understand more about trading? IG Markets South Africa has given us a helpful new article and video on understanding overbought and oversold trading conditions. Of course, the goal here is to identify potential market reversals and profit from them. You'll find it here>>>
For something completely different to the world of listed companies, the latest Magic Markets podcast digs into alternative investments and an overview of 2024 through the lens of Westbrooke. Dino Zuccollo joined us to talk about how they performed across South Africa, the UK and the US and what the investment trends are on the ground. It's a great discussion that you'll find here>>>
Have a great day!
PS: don't forget to register for the next edition of Unlock the Stock featuring KAL Group on 5th December. As always, attendance is free! You simply need to register at this link to attend. |
|---|
|
|---|
THE TRADER'S HANDBOOK: The tech of trading (back-testing, market scanning and strategic tools) |
|---|
|
|---|
| | In this episode of The Trader’s Handbook, Shaun Murison from IG Markets South Africa joined me to discuss the advanced tools available on the IG platform that empower traders to make informed decisions. From back-testing strategies and market scanning with Pro Screener to exploring client sentiment, alerts, and algorithmic trading, this episode highlights the cutting-edge features that simplify and enhance trading.
Whether you’re new to trading or looking to refine your approach, this episode provides practical insights into leveraging technology to stay ahead in the markets. The podcast and detailed transcript are available here>>> |
|---|
|
|---|
MIC Khulisani Ventures is looking for entrepreneurs |
|---|
|
|---|
Raising equity funding is not easy for small businesses in South Africa, but thankfully the Mineworkers Investment Company's (MIC) Khulisani Ventures initiative is an early-stage funding vehicle that provides capital for businesses that are ready to aggressively grow.
Along with a detailed transcript, you'll find it here>>> |
|---|
| |
|---|
SATRIX: Get to know the Satrix Global Balanced Fund of Funds ETF |
|---|
|
|---|
| | The Satrix Global Balanced Fund of Funds ETF aims to provide local investors with optimally diversified exposure to a global basket of indices representing different asset classes.
This is a low-cost, easy way to invest in a mix of equities, bonds, infrastructure, property, credit and cash assets.
Nico Katzke joined me to explain the concept of a balanced fund, the strategic asset allocation in this ETF and how Satrix has managed to achieve this exposure at just 35 basis points a year in costs.
Along with a detailed transcript, you'll find it here>>> |
|---|
|
|---|
DOMINIQUE OLIVIER - Novak Djokovic: pyramid-powered? |
|---|
|
|---|
| | In a classic case of selling the sizzle rather than the steak, one man in Bosnia has created quite the brand around a group of "pyramids" - or conveniently shaped hills. Novak Djokovic seems to believe in their power though! Dominique Olivier tells the story in this piece>>> |
|---|
|
|---|
Ghost Bites - local company news: |
|---|
|
|---|
Ghost Bites: The latest on Capital Appreciation, Exxaro, Fortress, Lighthouse and numerous Nibbles in Ghost Bites here>>> |
|---|
| |
|---|
Ghost Wrap - five insights from November |
|---|
|
|---|
| | Ghost Wrap: In a new format, I look back on key insights from November including the property sector, the demand for IPOs, the uptick in poultry businesses and more. Brought to you by Forvis Mazars, the podcast and transacript are available here>>> |
|---|
|
|---|
MAGAnomics: Trump and the global economy |
|---|
|
|---|
International Business Snippet: |
|---|
|
|---|
Salesforce put in a solid after-hours rally of 10.5% after releasing third-quarter earnings that the market clearly appreciated. Revenue grew 8% year-on-year and net income was up 25%, so here's an example of a technology company reading the room and giving the market happy news on earnings, not just other metrics like market share.
Without a doubt, guidance is what also moves the market in the US. Salesforce released fourth-quarter guidance that was ahead of analyst expectations, so that would've been a factor in the share price rally. And of course, there's no shortage of narrative around AI, although Salesforce is one of the few companies that actually has a decent use case for it!
Our latest research in Magic Markets Premium is on Intuit. With businesses like QuickBooks and MailChimp in the group, this is a great way to play the SME trend. It's just a pity about the valuation. Is Intuit doing enough to justify the high multiple? Subscribers find out this week. |
|---|
|
|---|
Magic Markets: The automotive sector race |
|---|
|
|---|
| | Magic Markets: Start your engines has quickly become start your batteries – or has it? Are electric vehicle adoption rates problematic everywhere, or are some companies seeing better adoption than others? Where does this leave hybrids? For a whirlwind overview of the automotive sector at the moment, you’re in the right place. Find it here>>> |
|---|
|
|---|
IG Markets Morning Call: daily macroeconomic update |
|---|
|
|---|
Comments from Fed officials overnight have increased the probability (according to Fed Fund Futures rates) of another rate cut in the world’s largest economy this year. Major US stock indices have in turn managed to etch out further gains into new high territory, while the dollar has softened slightly.
We have seen European markets trading firmer as well with Germany’s DAX40 moving well into new high territory, supported by what has been a generally weaker Euro on political uncertainty in France. Asian markets are trading mixed this morning.
The JSE All-Share Index underperformed yesterday, being negatively influenced by 3rd quarter GDP data showing a 0.3% economic contraction. We are however expecting a slightly positive open for our local bourse this morning and the rand is marginally firmer on the day as well.
The softer dollar has helped a minor rebound in base metal prices, while precious metals trade mixed on the day.
Oil prices have started to gain in anticipation of OPEC+ extending output curbs at tomorrows meeting.
Traders will want to keep an eye out for this afternoon’s ADP employment data out of the US.
Key Indicators: USD/ZAR R18.10/$ | US 10yr 4.22% | Gold $2,650/oz | Platinum $950/oz | Brent Crude $73.77 |
|---|
|
|---|
|
|
