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Good morning Voornaam,

After Metair softened up the market the previous day with news of a sale of the Turkish business, they released numbers showing just how critical that sale is. The share price promptly came back down to earth, wiping out the rally related to the deal. It's back where it started!

Markets can be fun. Shipping can also be fun I imagine, with Grindrod taking the step of buying the minority shareholder out of the drybulk terminal in Mozambique. They appear to be paying top dollar for those shares, so Grindrod clearly believes strongly in the power of having control over the pit-to-port logistics strategy for customers.

Finally, there are potential deal terms on the table for NewRiver to buy Capital & Regional, Growthpoint's subsidiary in the UK. It's a cash and share combo deal, which means it doesn't really unlock a fortune for Growthpoint to reduce debt. On the plus side, it would give Growthpoint (and other shareholders in Capital & Regional) ongoing exposure to an enlarged portfolio.

These stories plus Choppies, Hammerson, Raubex and Southern Sun (i.e. some really important ones) are all covered in Ghost Bites, your one-click SENS summary at this link>>>

Last week in Magic Markets, we took you through how to build a bull case. Management usually gives you a helping hand with that, as they are quick to point out highlights. The same can't be said for a bear case, where you need to be more creative. In Episode 193, we cover the other side of the coin by talking about how to build a bear case. Great ready to expand your knowledge and enjoy it here>>>

The most recent episode of The Trader's Handbook deals with trading signals, market trends and strategic indicators. It's packed with insights for those who are interested in trading. You can listen to it here.

Have a great day!

PS: this is your last chance to register to attend Unlock the Stock today at midday. Lesaka will be presenting their fintech platform and taking questions. Attendance is free! Register here>>>

FEATURED: The Trader's Handbook Ep 6

IG Markets Episode 6: Traders have a variety of important trading signals and indicators that they look at to understand market trends and predict where things are going. Learn all about it at this link>>>

FEATURED: Declutter and spring-clean your portfolio

Satrix: Spring is the time of year to clean out those cupboards and figure out what you don't need anymore. Your portfolio is no different, as discussed in this piece by Satrix. Find it here>>>

FEATURED: How to Build a Bear Case

Magic Markets: Here's the dark side of the moon - the bear case, the thinking that requires you to imagine what might go wrong. Sometimes, it's going wrong right in front of you, provided you know where to look. Learn how to build a bear case here>>>

FEATURED: A responsible investing roadmap

Investec Wealth & Investment International has launched a comprehensive guidebook on responsible investing. In the latest episode of the No Ordinary Wednesday, Jeremy Maggs speaks to the authors, Boipelo Rabothata and Maxine Gray. Enjoy it here>>>

Ghost Bites - local company news:

Ghost Bites: The latest on Capital& Regional, Choppies, Grindrod, Hammerson, Metair, Raubex and Southern Sun along with various Nibbles in Ghost Bites here>>>

Ghost Wrap:

Ghost Bites: Get up to date on the performance and latest news at Sibanye-Stillwater, Truworths, Finbond and Barloworld in just a few minutes. Brought to you by Forvis Mazars, you can enjoy Ghost Wrap here>>>

Dominique Olivier: Like looking into a furry crystal ball

Dominique Olivier: The global pet sector is set to boom by 2030 – and if we peer carefully beneath its furry surface, we are being given a few clues about what the family photos of the future will look like. Read more>>>

International Business Snippet:

Extremely-reliable-aeroplane manufacturer Boeing is still dealing with the strike, with the current response being a freeze on hiring and raises and a step to let non-essential contractors go temporarily. Boeing put a 25% offer on the table and the union said no. That tells you a lot about how severe inflation has been for lower income workers in the US, with some respite finally coming from the Fed. The new CEO at Boeing has been there for 6 weeks and clearly knew that this wasn't going to be an easy job, but what a start this is.

Speaking of working conditions, JPMorgan has created a new global role to oversee junior bankers and better manage their workload. If you have worked in corporate finance before, you'll know that it does actually represent progress that JPMorgan is trying to limit the workload for juniors to 80 hours per week. Just read that again and divide it by 7...

Our latest research in Magic Markets Premium is on Uber. This is one of my favourite growth stocks at the moment and I hold it in my portfolio. You'll see why in the latest report for our subscribers this week.

IG Morning Call: daily macroeconomic update

A volatile US session saw major benchmarks erasing initial gains into the close, although futures markets are now trading well into positive territory in early trade.

European and Asian markets are firmer this morning suggesting a positive start for our local bourse the JSE All-Share Index.

The Federal Reserve lowered benchmark lending rates by 50 basis points last night, whilst alluding to two more 25 basis point cuts this year. Today will see the South African Reserve Bank and Bank of England’s (BOE) monetary policy meetings conclude as well. Expectations are that the SARB could cut rates by as much as 50 basis points, while the BOE is expected to keep rates unchanged.

The dollar did however manage to gain against the majors, although the rand has held firm overnight.

Gold and oil prices are modestly higher in early trade today.

Key Indicators: USD/ZAR R17.55/$ | US 10yr 3.71% | Gold $2,565/oz | Platinum $980/oz | Brent Crude $73.24

The macroeconomic update is based on IG's morning call update