The market had a proper wobbly yesterday in Naspers - Prosus on the back of news of an acquisition by the group of European food delivery business Just Eat Takeaway.com. In and amongst all the Tencent share disposals, resultant share buybacks and talk of profitability in eCommerce rather than just market share, everyone seemed to forget that this is still a growth company! I remain happily long. I didn't buy Prosus shares in the hope that management would sit on their hands for the rest of time.

Over at Sasol, things are still tough. The group is doing what it can to try and mitigate some of the impact, particularly through focusing on cost control and capital management. Aside from getting my views on the results in Ghost Bites, you can also get the narrative and numbers directly from the company in Ghost Mail at this link. Sasol values the Ghost Mail audience and wants you to engage with them, so please do go and check out some of the numbers.

Elsewhere on the JSE, we saw a really juicy update from Rainbow Chicken. Profitability is even better than they expected! Altron also has a strong story to tell, with the share price more than doubling over the past year. Burstone, Cashbuild and Stor-Age are grinding on as well. 

And at Gemfields, they've used the suspension of the export duty on emeralds in Zambia as a good excuse to catch up on some lost auction sales of higher quality emeralds.

For more on these insights and for the usual assortment of Nibbles, click here and read Ghost Bites>>>

With the end of the tax year upon us, I hope you've maximised your tax-free investment annual allowance. I also hope that you've got a plan for how to maximise it next year. To explain why this structure is so powerful and should never be wasted, Siyabulela Nomoyi of Satrix joined me on this podcast>>>

In the latest No Ordinary Wednesday podcast presented by Investec, Jeremy Maggs and Tinus Rautenbach discussed whether the tech titans in the US can continue to dominate the market this year. Find it here>>>

On the Magic Markets front, leading agricultural economist Wandile Sihlobo joined us to give an on-the-ground account (literally) of the SA commercial agri sector and the sentiment of commercial farmers amidst all the geopolitical noise with the US. Get it here>>>

Have a lovely day!

PS: Afrimat will be presenting on Unlock the Stock this Thursday. Get it in your diaries nice and early and remember to register to attend here>>>

I've been waiting to see something like this. Online education group Chegg is suing Google (part of Alphabet) for lost traffic due to Google's AI summaries. Essentially, Google goes off and reads websites (for free) and then provides an AI summary (also for free). Although sources are provided, very few people actually click on them.

Google claims that AI overviews send traffic to a greater diversity of sites. If my own behaviour is anything to go by, I somehow doubt that. Regulatory scrutiny on Big Tech is only going to increase from here and in many cases it is well deserved.

In fact, it was just yesterday that news broke of the South African Competition Commission releasing provisional findings that Google's algorithm contributed to the erosion of local media. Look, we all know that the quality of local media has in many cases also contributed to its erosion, but this is just another example of where regulators have very little love for Google and its peers.

Our latest research in Magic Markets Premium is on The Trade Desk, a company that sits right at the heart of the omni-channel advertising space. By connecting agencies with a variety of advertising opportunities for their clients, the company enjoys wonderful growth tailwinds. It also trades at an insane multiple, which makes the analysis harder than you might think. Our subscribers can enjoy our detailed work on this growth stock.

Proposed semiconductor export restrictions from the Trump administration have driven continued US equity market declines from late last week, with technology stocks experiencing the heaviest losses.

This weakness has spread to Asian markets, with both the Hang Seng and Shanghai Composite indices under pressure today.

European markets outperformed overnight, though futures indicate a flat opening today.

The JSE All-Share Index is expected to open slightly lower this morning, although the rand is trading sideways at relatively firm levels in early trade.

The dollar has strengthened, applying modest downward pressure on gold prices, though the precious metal remains near its all-time highs.

Meanwhile, oil prices have recovered from oversold conditions as new US sanctions against Iran raise concerns about potential supply disruptions.

Key Indicators: USD/ZAR R18.34/$ | US 10yr 4.39% | Gold $2,935/oz | Platinum $964/oz | Brent Crude $74.60

As often as practically possible, insights from the IG Markets morning macro update by Shaun Murison will be featured here. Where this isn't possible, only indicators will be provided. If you want to learn more about trading, refer back to The Trader's Handbook, a podcast series that takes you through many of the important principles in trading.