If there are two names on the local market that were firmly in the hype basket over the pandemic, it's Sasol and Renergen - and for such different reasons. Sasol was the company that was priced for a disaster that it ended up avoiding, helping many people (including me) generate fantastic returns in a short period. Like me, I also hope that you took profit at roughly the right time. As for Renergen, it was all about an exciting future rather than avoiding disaster. As time went on though and the Renergen share price faded away, it started to become about avoiding disaster! I avoided the Renergen share price altogether as I could never understand the valuation.
Markets are rather glorious things, aren't they?
In today's Ghost Bites, there's big news from both Sasol and Renergen. The energy giant (Sasol) has thrown everything but the kitchen sink at impairments, with the new management team effectively giving themselves a clean base off which to show growth. The energy startup (Renergen) finally has some helium production to show for itself, leading to a 25.6% share price increase on the day. It's just a pity that this barely touches sides vs. where the stock used to trade.
To get the details on both these updates, as well as many other companies that released important news yesterday, read Ghost Bites here>>>
For those looking for a short podcast to listen to over a coffee, there's a brand new Ghost Wrap dealing with Italtile, Cashbuild, Quilter, AngloGold and Gold Fields. Brought to you by Forvis Mazars, you'll find it here>>>
If you're looking for a deeper dive into a single stock, then the recent Unlock the Stock session with Tharisa will work well for you. Get the latest on the PGM and chrome markets in the process by enjoying the recording here>>>
Finally, have you checked out the excellent piece on the IG Markets South Africa Academy about trading plans and risk management? There's also a quiz at the end, so you can test your understanding after reading it. Be sure to try it out here and learn about this element of the markets.
Have a great Tuesday! |
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FEATURED: The Trader's Handbook Ep 3 |
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| | IG Markets Episode 3: For a review of the trades in my demo account and a discussion on how to choose the right brokerage, I was joined as usual by Shaun Murison of IG Markets South Africa. Learn about trading at this link>>> |
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FEATURED: The rise of self-directed investing |
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Invested Podcast: As part of the Investec No Ordinary Wednesday series, you can enjoy Jeremy Maggs in conversation with Tinus Rautenbach, head of Investec's online platform Clarity, as they discuss the rise of self-directed investing. Find it here>>> |
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FEATURED: Playing the art market - a fool's gambit? |
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Dominique Olivier: Investing in art is harder than investing in stocks. Welcome to the world of alternative assets, where a Banksy artwork was "created" live at an auction. This is just one of the crazy stories in the world of art values. Dominique Olivier paints this picture for us. Read it here>>> |
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| | Ghost Wrap: With thanks to Forvis Mazars, this podcast brings you the latest on Italtile, Cashbuild, Quilter and the gold duo of AngloGold and Gold Fields, all in just a few minutes in the Ghost Wrap podcast. |
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Ghost Bites: Get the latest on Attacq, Aveng, Brait, CA Sales Holdings, Castleview and Emira, Gold Fields, Hyprop, Italtile, Merafe, Montauk, Renergen, Sasol and Super Group, along with various Little Bites in Ghost Bites here>>> |
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| | Unlock the Stock: In the latest session, Tharisa Plc returned to the platform for an update on the company performance and strategy going forward in PGMs and chrome. You can watch the recording here>>> |
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- Nico Katzke of Satrix: The GNU has driven significant optimism around the South African market. To help us understand where this is playing out and how the carry trade protects the rand, Nico Katzke joined me on Ghost Stories. Find it here>>>
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- Magic Markets: What is the right way to prepare for a major sell-down in the market, or even a crash? It's all about research and watchlists, as well as having money that is ready to go into those dips. We discuss these concepts in this podcast>>>
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International Business Snippet: |
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When a major retailer has to scale back to get its house in order, the effect on landlords is significant. We are seeing this play out in the US now as Macy's looks to close 150 major stores across the country by early 2027. To show you how badly these large stores underperform, they represent 25% of gross square footage and under 10% of sales. Trading density (sales per square foot) is a key metric and these stores are on the wrong side of it.
As there are many sub-grade malls in the US, this could be the death knell for some of them. In other cases, landlords will have to get smart about how to repurpose the space held by the department store. Either way, disruption lies ahead.
We are covering Airbnb in Magic Markets Premium this week. For subscribers to Magic Markets Premium, the investment of R99/month is the best investment they can make. |
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IG Morning Call: daily macroeconomic update |
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Global equity benchmarks are pointing to a positive start to the day, albeit modestly so, as markets await key inflation data out of the US and UK tomorrow.
The dollar index has gained marginally, largely on the back of a slightly weaker yen as carry trade concerns abate for the time being. The rand has firmed, although trades off its best levels of the day yesterday.
Oil prices gained significantly yesterday. Rising tensions in the Middle East are being attributed to the move which sees Brent Crude oil now well above the $80/barrel mark.
Gold is trading close to all-time highs, supported by the prospect of nearing rate cuts in the world’s largest economy and ongoing geopolitical tensions.
US PPI inflation data this afternoon will be a key data point for traders to watch ahead of tomorrow's CPI inflation data prints.
Key Indicators: USD/ZAR R18.24/$ | US 10yr 3.90% | Gold $2,463/oz | Platinum $939/oz | Brent Crude $81.35
The macroeconomic update is based on IG's morning call update |
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