View in web browser

Good morning Voornaam,

Good morning from Joburg! One red-eye flight later and I'm ready for a busy day on the other side of our beautiful country.

We begin with a brand new episode of The Trader's Handbook, my podcast collaboration with the team at IG Markets South Africa. In episode 10, we cover commodities - yes, trading the likes of gold and oil. You can learn all about why this is appealing and how it differs to trading the underlying producers of these commodities. We also covered the technical pattern of double tops and double bottoms. Enjoy it here>>>

In company news, it was a disjointed day of news with no obvious highlight. Pepkor was probably the most interesting update, with decent HEPS growth provided you know which line to look at. In retail, the 53rd trading week makes a big difference!

When it comes to deals, Nampak has sold another business as part of its asset disposal program and Novus has bought some businesses. Novus also released a trading statement, with a huge jump in interim earnings due more to timing differences than anything else.

In other news, FirstRand has adapted its UK motor finance business to the new approach being taken by the courts, but will still appeal the recent findings. MTN Rwanda has its own regulatory challenges, with a desperate need for the regulator to approve better rates to improve the economics in that operation.

For details on these stories and the other Nibbles, read Ghost Bites here>>>

The recent Ghost Stories episode with Yusuf Wadee of Satrix on Shari'ah-compliant investing has proven to be popular and with good reason. It has value to you regardless of whether you need to invest in line with Islamic principles or not, as there's much to learn here about finance in general. Make it part of your day at this link>>>

Have a great day!

THE TRADER'S HANDBOOK: Insights and strategies for commodity markets - oil, gold and more

In this episode of The Trader’s Handbook, Shaun Murison from IG Markets South Africa joined me to explore the world of commodity trading.

We discussed the nuances of trading popular commodities like gold and oil, comparing direct commodity trading to investing in mining stocks, and delved into the unique appeal and risks associated with each.

We also covered double tops and double bottoms in the technical analysis section.

The podcast and detailed transcript are available here>>>

FORVIS MAZARS: Innovative funding remains the charge powering South Africa's energy transition

The ongoing evolution of the renewable energy investment landscape in South Africa requires innovative funding structures, as explained by Johan Marais and Taona Kokera of Forvis Mazars in South Africa. Learn more here>>>

INVESTEC: India a gateway to outsized emerging market opportunities

As the global economy shifts from a high inflation and high interest rate environment into the next interest rate cutting cycle, global investors are casting their net wider in their search for returns. India is an attractive opportunity. Investec explains why in this article>>>

SATRIX: Shari'ah-compliant Investing

Shari'ah-compliant investing in South Africa just got a major boost with the listing of the Satrix MSCI World Islamic ETF on the JSE in October.

Yusuf Wadee of Satrix joins me to unpack this fund and the fascinating Shari'ah principles in general. There's much to learn here, regardless of whether your faith requires you to invest based on these principles.

Along with a detailed transcript, you'll find it here>>>

DOMINIQUE OLIVIER: How to know if you've been brainwashed

Coca-Cola. Gillette. De Beers. Sunkist. These are just four examples of companies that cemented their place (and their products) in popular culture. Dominique Olivier explains how they did it in this week's column>>>

Ghost Bites - local company news:

Ghost Bites: The latest on FirstRand, MTN Rwanda, Nampak, Novus, Pepkor and numerous Nibbles in Ghost Bites here>>>

Unlock the Stock - Pan African Resources

Unlock the Stock: Pan African Resources returned to the platform to talk about the performance and prospects in an environment of favourable gold prices. Enjoy the presentation and Q&A here>>>

Top concerns for global financiers in today's market

Join Investec CEOs, Cumesh Moodliar (SA) and Ruth Leas (UK), as they share their key insights from the recent IMF and World Bank meetings in Washington in the latest episode of No Ordinary Wednesday.

International Business Snippet:

Forgive me for another automotive sector update, but it's important. Toyota has posted a nearly 20% drop in second quarter operating profit. Net profit more than halved thanks to that poor result further up the income statement. Even though they've been on the right track by focusing on hybrid rather than pure EV technology, even Toyota is feeling the pinch in the sector right now. After all, every Haval on the road could've been a Toyota, or perhaps a Hyundai or Kia a few years ago.

In the world of fast food, Yum! Brands wasn't yummy at all, missing expectations for revenue and earnings. Same-store sales fell 4% at KFC and Pizza Hut. Thank goodness for Taco Bell, up 4%. Burger King owner Restaurant Brands International also released earnings and also missed estimates, with worldwide same-store sales up just 0.3% and sales declining in the US.

Our latest research in Magic Markets Premium is on Microsoft. The world's most important tech business from an enterprise computing standpoint isn't just adapting to the world of AI - it's driving that world forward. But does that change the Microsoft investment case? You'll find out in our research for subscribers this week.

Magic Markets: Making Forex Better

Magic Markets: Future Forex is on a mission to make forex cheaper and simpler for individuals and businesses alike. Harry Scherzer joined us to talk about their evolution from a strong crypto arbitrage foundation. Find it here>>>

IG Markets Morning Call: daily macroeconomic update

Donald Trump’s return to presidency has been met with a firmer dollar and higher yields, while equity benchmarks, the S&P500 and Dow Jones Industrial Index move into all-time high territory. Gains in the US are in contrast to softer European and Asian equity markets (excl. Japan) yesterday, although we are seeing a partial rebound in early trade today.

We are expecting a flat to slightly firmer start for the JSE All-Share Index this morning.

The dollar has started to give up some of yesterday’s gains as the dust starts to settle on US elections. The rand has in turn managed to claw back some of the previous day’s losses against the greenback.

Commodity prices were significantly lower yesterday, with precious metals remaining on the backfoot this morning. We have however started to see a rebound in base metals after yesterday’s sell-off. Today’s gains in base metals appear to be on the prospect of fiscal stimulus out of China tomorrow.

Oil has firmed from news that inclement weather in the Gulf Coast threatens production.

It is a busy day in terms of central bank activity, with the Bank of England and Federal Reserve expected to announce rate cuts this afternoon and evening respectively.

Key Indicators: USD/ZAR R17.53/$ | US 10yr 4.43% | Gold $2,659/oz | Platinum $983/oz | Brent Crude $75.20

The macroeconomic update is based on the morning call update by IG Markets