| Good morning Voornaam, Quick links: Motus and Super Group are working hard so their bankers can have a better life. You'll also get the latest from Grindrod, RCL Foods, Redefine and Sasfin in Ghost Bites, brought to you by Fedgroup. Dominique Olivier brings you the incredibly interesting story of Vantablack (literally the blackest black) and asks the question: can you own a colour? Made possible by Mazars, the brand new episode of the Ghost Wrap podcast brings you the latest on NEPI Rockcastle, Vukile, Italtile, Bidcorp, Spar and Pick n Pay - available here. If you're interested in Afrimat, there's an Unlock the Stock to sink your teeth into. Get a deeper understanding of the company strategy by watching the recording here. A new episode of the Magic Markets podcast gives you the latest on Airbnb and Shopify, made possible by B2IT. |
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| LISTEN: The ETF product design process
with Siyabulela Nomoyi of Satrix |
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| | | Delving into the ETF product design process and with a discussion on the latest ETF product launches at Satrix, Siyabulela Nomoyi joined me for this insightful conversation.
Don't miss it! |
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| READ: Vantablack - can you own a colour?
(by Dominique Olivier) |
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| In a story of an extraordinary feud in the art world that features the blackest black and the pinkest pink (literally), Vantablack sits at the centre of a controversy around whether you can own a colour. Dominique Olivier tells the story. |
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Local company news:
Ghost Bites is brought to you by Fedgroup.
The relationship between the income statement and the balance sheet isn't just for your first year accounting classes at varsity. If you want to be successful at investing, you need to understand that the lines below EBITDA are all about the extent of assets in the business and how they were funded. Motus and Super Group give you an excellent case study this morning, with both companies reporting very different outcomes at EBITDA and HEPS levels - all because of financing costs.
We also saw news coming in from RCL Foods of even better profit growth than initially thought. Another winner of the recent period is Grindrod, evidenced by a trading statement. You can also look out for a pre-close investor presentation from Redefine.
Finally, there's more bad news at Sasfin in the form of a gigantic claim from SARS. Although Sasfin believes it has very little chance of success, this is a dark overhang for a share price that has already been very disappointing for investors.
Get all the details in Ghost Bites here>>>
There's a brand new episode of the Ghost Wrap podcast for you to enjoy, made possible by Mazars. In the time it takes to drink your coffee, you can get the latest on NEPI Rockcastle, Vukile, Italtile, Bidcorp, Spar and Pick n Pay. Get it here>>> |
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| LISTEN: Magic Markets podcast |
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| In Episode 163 of Magic Markets, we dug into platform businesses Airbnb and Shopify.
There's always a lot to learn about how these businesses move from losses into profitability - and sometimes back again.
Get the latest on these global giants in this podcast, brought to you by data and process automation specialists B2IT. |
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| LISTEN: Turning Tax into Solar Power (with Futureneers) |
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| | | There's still time to take advantage of the 125% deduction available for solar investment, but you have to move quickly! Learn more from the team at Futureneers about their S12BA Renewable Energy Partnership opportunity in this podcast. |
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| Currencies, commodities and rates: TreasuryONE Market Update The good news is that the rand has moved back to the right side of R19.20, which puts it into the R18.20 to R19.20 range - albeit only just. Before you get too excited, the likeliest explanation is that market participants took profit after such a sharp move in the rand.
The bond market struggled to absorb $127 billion in new Treasury bonds, causing initial instability that settled once auction results were processed. The market is still pricing in a decrease in interest rates this year.
Despite the recent uptick in dollar strength, the combination of fiscal and monetary policies suggests that the trend needs to be revised. Fiscal deficits are a long-term drag on the dollar due to their inflationary impacts. It's also worth noting that a seasonally weaker performance for the dollar is expected in the latter three quarters of the year.
If you would like to watch the recording of the panel discussion around the Budget Speech, then you'll find it on the TreasuryONE YouTube channel here.
Key indicators: USD/ZAR R19.10; US 10-year 4.29%; Gold $2,029; Platinum ZAR R16,946; Brent Crude $83.26 |
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| READ: Stability doesn't always have to come at a cost
with Fedgroup |
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| | | Fedgroup believes that a combination of fixed-term investments can do more than just withstand a battering. In fact, they cann offer solid returns as well.
Learn more here. |
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International company news:
Headlines were abuzz yesterday with the news that Apple is abandoning plans to build an electric car. Several employees are apparently being shifted to the AI division at Apple. At least those employees cannot possibly do a more embarrassing job than the nonsense that Alphabet (Google) put into the market in the form of Gemini.
I have been highly skeptical of EVs from the very beginning. There are many reasons why they are going to struggle to achieve global adoption. Clever hybrids make a lot more sense to me and that seems to be where things are going, with a lot of bad news recently for EV demand and development.
The upside? From a South African perspective, this suggests better long-term demand for PGMs than the market has been pricing in. For the local economy, that would be very helpful.
If you're reading this block every day, it's because you want to cast your eyes farther afield for opportunities. Magic Markets Premium is your key to understanding global stock opportunities, with new stock research every week and a subscription price designed for South Africans.
For just R99/month, you get access to the entire library of around 120 research reports and podcasts. This includes Apple, Alphabet, Ford and Tesla, so you would have a lot more insight into this update on EVs. Expand your investment horizons by subscribing here. |
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| READ: Satrix launches Satrix JSE Global Equity ETF |
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| | | Satrix is releasing a new product that gives a higher weighting to local companies with international listings.
In other words: more of an offshore component. Find out more in this article. |
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| You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.
Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.
The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. |
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