| Good morning Voornaam, Have you given the new format of Ghost Wrap a try yet? I've looked back on five great insights from November, like the importance of per-share metrics in property, the hunger in the local market for IPOs, the recovery in the poultry sector, the disaster that is Murray & Roberts and the way in which MultiChoice has clearly bet the farm on the Canal+ deal going ahead. Brought to you by Forvis Mazars, get the podcast and full transcript here>>>
Jaltech is launching its final Section 12B investment for the 2025 financial year. They are hosting a webinar on 11 December to talk about the investment highlights and how it all works, targeting investors who would like to reduce their 2025 tax liability by taking advantage of solar investment incentives. Find out more and register for the webinar here>>>
Although we have a couple more property updates on the JSE to add to what came out earlier in the week, I first want to focus on Super Group. A deal to dispose of SG Fleet in Australia has been agreed. If it gets implemented as planned, it will give Super Group's balance sheet a fantastic boost. The group has been struggling with the knock-on impact of disruption in the automotive sector, so the opportunity to reduce debt and pay a special distribution to shareholders has been most welcomed by the market.
Another good news story is Sygnia, where assets under management (AUM) is firmly on the up and so are the rest of the financial metrics - except, for some reason, the dividend. It's not clear why the dividend growth is so modest relative to HEPS growth.
Tiger Brands also featured yesterday, although the numbers are more of a meow than a roar. The market liked them anyway, perhaps focusing on metrics like cash generation and the strength of the balance sheet.
Along with property updates from Resilient and MAS Real Estate, as well as the surprising news of Exxaro suspending its CEO, it was an interesting day of news.
Get all the details on these stories and the various Nibbles (including the all-important director dealings) in Ghost Bites here>>>
If you are a qualifying Black-Owned business looking for equity capital, then MIC Khulisani Ventures could be the partner for you. In a Ghost Stories podcast, I spoke to Nchaupe Khaole and Keitumetse Lekaba about exactly what MIC is looking for. Get the details here>>>
Have a great day!
PS: don't forget to register for the next edition of Unlock the Stock featuring KAL Group later today. As always, attendance is free - but you better hurry! You simply need to register at this link to attend. |
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| THE TRADER'S HANDBOOK: The tech of trading (back-testing, market scanning and strategic tools) |
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| | | In this episode of The Trader’s Handbook, Shaun Murison from IG Markets South Africa joined me to discuss the advanced tools available on the IG platform that empower traders to make informed decisions. From back-testing strategies and market scanning with Pro Screener to exploring client sentiment, alerts, and algorithmic trading, this episode highlights the cutting-edge features that simplify and enhance trading.
Whether you’re new to trading or looking to refine your approach, this episode provides practical insights into leveraging technology to stay ahead in the markets. The podcast and detailed transcript are available here>>> |
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| MIC Khulisani Ventures is looking for entrepreneurs |
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| Raising equity funding is not easy for small businesses in South Africa, but thankfully the Mineworkers Investment Company's (MIC) Khulisani Ventures initiative is an early-stage funding vehicle that provides capital for businesses that are ready to aggressively grow.
Along with a detailed transcript, you'll find it here>>> |
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| SATRIX: Get to know the Satrix Global Balanced Fund of Funds ETF |
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| | | The Satrix Global Balanced Fund of Funds ETF aims to provide local investors with optimally diversified exposure to a global basket of indices representing different asset classes.
This is a low-cost, easy way to invest in a mix of equities, bonds, infrastructure, property, credit and cash assets.
Nico Katzke joined me to explain the concept of a balanced fund, the strategic asset allocation in this ETF and how Satrix has managed to achieve this exposure at just 35 basis points a year in costs.
Along with a detailed transcript, you'll find it here>>> |
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| DOMINIQUE OLIVIER - Novak Djokovic: pyramid-powered? |
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| | | In a classic case of selling the sizzle rather than the steak, one man in Bosnia has created quite the brand around a group of "pyramids" - or conveniently shaped hills. Novak Djokovic seems to believe in their power though! Dominique Olivier tells the story in this piece>>> |
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| Ghost Bites - local company news: |
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| Ghost Bites: The latest on Exxaro, MAS Real Estate, Resilient, Super Group, Sygnia, Tiger Brands and numerous Nibbles in Ghost Bites here>>> |
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| Ghost Wrap - five insights from November |
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| | | Ghost Wrap: In a new format, I look back on key insights from November including the property sector, the demand for IPOs, the uptick in poultry businesses and more. Brought to you by Forvis Mazars, the podcast and transacript are available here>>> |
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| MAGAnomics: Trump and the global economy |
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| International Business Snippet: |
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| Foot Locker has unfortunately had to do the thing that US investors hate most: cut its earnings guidance. The latest quarterly results were a miss in terms of both revenue and profits, with comments by management giving the market a worrying look-through to Nike. To add to the disappointing third-quarter numbers, Foot Locker expects full-year sales to be down by between 1% and 1.5%, worse than analyst expectations.
With new management in place at Nike, a potentially poor quarter for the famous swoosh brand isn't ideal. Although the market reacted quite strongly to the Foot Locker update, for some reason the Nike share price saw little response. That's odd and creates a dangerous situation for Nike shareholders heading into that company's results release later this month.
Our latest research in Magic Markets Premium is on Walmart. The retail giant is absolutely flying at the moment, with margins up and the share price well on its way to the moon. Can it keep going? Subscribers find out this week. |
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| Magic Markets: The automotive sector race |
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| | | Magic Markets: As the year of global elections draws to a close, Dino Zuccollo of Westbrooke Alternative Asset Management joined us to look back on how global trends impacted the alternative lending space in markets where Westbrooke has a presence: South Africa, the UK and the USA. Find it here>>> |
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| IG Markets Morning Call: daily macroeconomic update |
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| Positive comments from Fed Chair Jerome Powell around the health of the US economy helped major US benchmark indices grind further into new high territory. Expectations are now that the Federal Reserve will cut rates again before year end.
European index futures and Asian equity markets are however trading mixed this morning and on balance we are expecting a slightly firmer open for the JSE All-Share Index.
The dollar has softened marginally against the majors, although the rand is slightly weaker on the day as well.
Both base and precious metal prices are tracking sideways to modestly lower in early trade today.
Oil prices have given up some of the previous day’s gains ahead of today’s OPEC+ production meeting.
Traders will want to keep an eye out for this afternoon’s weekly unemployment claims data out of the US.
Key Indicators: USD/ZAR R18.15/$ | US 10yr 4.19% | Gold $2,642/oz | Platinum $943/oz | Brent Crude $72.20 |
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