View in web browser

Good morning Voornaam,

The JSE dished up a particularly interesting day of news yesterday. I've gone into great detail in a number of stories in Ghost Bites, so I hope you have your coffee (or morning beverage of choice) ready.

The highlight of the day was PPC, with a set of numbers that certainly reflects the strength of the turnaround there. The other good news stories were Alexander Forbes and small cap 4Sight, which is really punching above its weight now.

Tough numbers were on display at Aveng and Oceana, while Omnia went sideways in the latest period.

In strategy and deal updates, Santova released a results presentation that is so much more than just a look at the recent numbers. They went into detail on the global trade network trends and how Santova wants to play in this space, particularly in the context of the Seabourne acquisition. We also had Lighthouse Properties showing us that the property sector is getting hotter, raising R400 million in equity when they initially only wanted to raise R100 million. Finally, Barloworld got the green light from the Competition Commission for the take-private deal - but will shareholders accept the offer?

Get the details on all these updates and the Nibbles in Ghost Bites at this
link>>>

I have an exciting new podcast for you. Francois Gouws, CEO of PSG Financial Services, joined me to talk about the Think Big South Africa competition. With a R500k first prize, they are looking for high quality submissions to get the conversation going about taking our country forwards. The topic this year is How Capital Markets Enhance Economic Performance and Facilitate Job Creation, so I know that many of you will have amazing ideas to form the basis of your entry into the competition. Get the details on this wonderful initiative here>>>

For insights into the mining sector, specifically PGMs and chrome, you can join Tharisa on Unlock the Stock on Thursday 12th June. This is a wonderful opportunity to engage directly with the management team. Attendance is free but you must register here>>>

Have a great day!

SATRIX: Life after COVID - a five-year review of the markets

Five years ago, the world was a wild place. We were "staying home and staying safe" - and global central banks were cutting rates dramatically in an effort to stimulate economies under impossible circumstances.

With a great selection of statistics to share with the listeners, Siyabulela Nomoyi of Satrix was a wealth of knowledge in this podcast about how markets have performed in recent years, particularly in terms of which indices did well and which were disappointing.

Get a healthy dose of market insights at this link>>>

PODCAST: Capital Markets in South Africa - the Think Big South Africa Competition

PSG Financial Services is the proud sponsor of the Think Big South Africa competition, in collaboration with Economic Research Southern Africa (ERSA).

PSG wants to encourage South Africans to get involved in their country at the highest level, bringing forward policy ideas and constructive solutions to drive conversations and real change in our country. PSG CEO Francois Gouws joined me to explain why they are such strong supporters of this initiative.

Enjoy it here>>>

GHOST BITES - Making sense of SENS on the local market

PPC's turnaround looks pretty spectacular, while Alexander Forbes and small cap 4Sight are both doing well. Lighthouse raised R400m in equity. Santova gave loads of details around its strategy. Aveng and Oceana are having tough times. Omnia is flat overall. Barloworld got the green light from the Competition Commission. Get the details in Ghost Bites>>>

Unlock the Stock - Greencoat Renewables

In the 55th edition of Unlock the Stock, Greencoat Renewables joined us for the first time ahead of their debut on the JSE. The recording of the management presentation and interactive Q&A is available at this link>>>

DOMINIQUE OLIVIER - Klarna: a canary in the American debt coal mine

When lunch needs a payment plan, something’s gone sideways. Klarna’s rollercoaster ride through the American dream is a cautionary tale with extra guac. All is not well in America, as Dominique Olivier explains here>>>

INVESTEC PODCAST: No Ordinary Wednesday - a 20-year perspective on global investing

Twenty years on, the managers of the Investec UCITS World Axis Core Fund reflect on what two decades of global investing have taught them and what investors should expect next. Join Investec Investment Management’s Head of Multi-Manager Investments Ryan Friedman and Fund Manager Bronwen Trower in conversation with Jeremy Maggs in this podcast>>>

International Business Snippet:

Warner Bros. Discovery is set to split into two separate public companies by next year. This will eventually create a streaming and studios company that is distinct from a global networks company. One of those is a growth story and the other is a value extraction story, at least in my opinion. The fact that the current CFO of the group will go and run the global networks business tells you something, as the focus will be on financial efficiency rather than outright growth.

Comcast is doing much the same thing at the moment, so this strategy is well in line with the broader sector trend.

Recent research in Magic Markets Premium has covered Intel, Waste Management (possibly the best company you've never heard of), Novo Nordisk, Simon Property Group, TJX and NVIDIA. Our focus is on giving you broad exposure to global stocks, with enough underlying detail to help you make better decisions and learn tons along the way. The entire library is available for just R99/month, a deliberate strategy to make it as accessible as possible. Invest in yourself and give it a try!

Magic Markets: Saudi Aramco and Ferrari

After a few weeks of Formula One races every weekend, many sports fans have been bombarded with two brands: Saudi Aramco and Ferrari. This gave us a great opportunity to talk about both listed companies – from fossil fuels to fast cars!

Our view is that Ferrari is without a doubt the better business in terms of brand strength and long-term prospects, but why is that? And just how much does Formula One actually matter to them anyway?

We covered these topics here>>>

Macroeconomic indicators and macro update

US and European futures are pointing to a flat-to-modestly-higher open this morning.

Shares in China and Hong Kong are climbing as investors maintain cautious optimism ahead of high-level US-China trade talks in London. At the same time, weaker Chinese economic data is raising hopes for further stimulus measures from the region.

The dollar index has edged up slightly, while gold prices remain steady as markets await the results of the trade negotiations.

The rand is marginally softer this morning although remains around its best levels of the year.

Oil prices have continued to rise in the short term, supported by ongoing uncertainty surrounding a possible nuclear deal between the US and Iran.

This update is provided by Shaun Murison. Connect with him on LinkedIn here.

Key Indicators: USD/ZAR R17.79/$ | US 10yr 4.46% | Gold $3,327/oz | Platinum $1,211/oz | Brent Crude $65.06