| The JSE ended almost entirely flat yesterday but the rand continued its strong run, gaining about 2% against the dollar, the euro and the pound. According to TreasuryOne, it was the best performing emerging-market currency, reaching R14.18 to the dollar in late afternoon trade - levels last seen in January 2020. TreasuryOne says some of the speculation for the rand movement was that sanctions against Russia and turmoil in Turkey had left SA as one of the only viable emerging markets left to invest in. One of the other reasons could be a simple economics equation of supply and demand, where a lot of dollars were sold but not a lot bought in return. The lack of demand could be a sign of inactivity in the local economy. In today's newsletter, we delve into PSG Konsult's annual results. It attributes a solid performance to the systems it already had in place before the outbreak of Covid-19 early last year. More to follow, along with a video interview I did with PSG Konsult CEO Francois Gouws. Meanwhile, industrial group enX has disclosed the deal that it cautioned investors about last year. It's selling a UK business for what it says is a good price in a move that will help it reduce debt. And Merafe Resources has reported a better start to 2021, with production from its ferrochrome joint venture with Glencore rising from last year's levels. It's Friday, so watch out for the all latest mergers and acquisitions news from our partners at DealMakers. Have a good weekend. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics NOPE stands for Net Option Pricing Effect and, as Andrew Kinsey in "NOPE, you can make money out of volatility" explains, provided you're well-armed with knowledge you can profit from it. Also, check out the note on Alibaba entitled "Slap". | 