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Good Morning Voornaam,

Get ready to learn more about company valuations! The next bizval webinar is scheduled for Thursday 26th January at 12pm. Alongside my co-founders in the business, I'll be presenting on important valuation concepts. Register for free at this link>>>

The Foschini Group makes Mr Price look even worse

I'm afraid that Mr Price really can't catch a break at the moment. The latest numbers from The Foschini Group are fantastic in comparison, showing that load shedding can be successfully navigated with enough planning and invest ment.

The other stories in Ghost Bites this morning include an update from Cashbuild, the big news of the helium module at Renergen's Virginia Gas Project finally being switched on and a quarterly update from South32.

Get up to date on yesterday's JSE news at this link>>>

More layoffs...

Spotify is the latest tech company to announce layoffs, cutting around 6% of the global workforce. I must say, Spotify is probably the best example I've ever seen of a "freemium" user experience that looks to convert users from free to paying subscribers. It worked magnificently on me; I would probably cancel my daily lunch before cancelling my Spotify subscription.

Nevertheless, it's tough out there and advertising budgets are taking strain, which means that tech platforms are in the firing line and so are their staff (literally).

A notable exception to the current layoff trend is Apple, mainly because that company didn't hire a silly number of staff during the pandemic.

In further tech news, Microsoft has announced a major investment in OpenAI, the maker of ChatGPT. Microsoft is the exclusive provider to OpenAI of cloud services, so the businesses have a close relationship. It doesn't take a rocket scientist or Silicon Valley geek to realise that Microsoft is firmly taking aim at Google Search.

A sideways day

Most currencies have tracked sideways, with the dollar range-bound against most of its peers. TreasuryONE notes that the rand has traded back to the R17.20 levels, with US Treasury Yields creeping higher during the afternoon. The rand remains stuck in the broader R16.80 to R17.40 range as we await this week's first MPC meeting of 2023. The rhetoric from Fed speakers has also had an influence on the market.

Commodities traded softer yesterday as optimism over an increase in Chinese demand slipped away.

A box of goodies for you to enjoy:

The team at EasyEquities brings you an interesting research no te on Adidas, a company that had a horrible time in 2022.
Chris Gilmour looks at the recent improvement in global sentiment and questions when this will rub off on stocks.
Satrix looks back on 2022 and considers key lessons learnt in the market.

Podcasts to keep you busy at work:

The latest episode of Ghost Wrap features updates on Nampak, Steinhoff, Richemont, BHP, Woolworths, Mr Price and Spar. This is the best way for you to stay on top of the most interesting weekly stories on the JSE, brought to you by Mazars. Enjoy it here>>>
In Episode 108 of Magic Markets, Travis Robson (CEO of Trive South Africa) joined us to talk about the stockbroking industry and how Trive plans to bring a more sophisticated offering that focuses on customer service alongside technology. Listen to it here>>>

Have a great Tuesday!

Ghost Mail (Cashbuild | Renergen | South32 | The Foschini Group)

Is the bad news priced in at Cashbuild? Renergen is more than just hot air. South32's production update is positive. TFG makes Mr Price look even worse.

Can anything go right for Adidas?

The research team at EasyEquities brings you this article on Adidas and whether 2023 may bring a happier experience than 2022 did.

2022 in perspective - with Satrix

The time to reflect on a forgettable year in global markets is fast running out - in fact, some might say it has passed already. Still, there are important lessons to take from last year.

Will stocks fight off the bears?

With improved sentiment towards major global economies, will stocks fight off the bears and put in a strong performance? Chris Gilmour weighs in.

Ghost Wrap #8 (Nampak | Steinhoff | Richemont | BHP | Woolworths | Mr Price | Spar)

Welcome to your whirlwind update on the most interesting stories on the JSE in the past week, brought to you by Mazars.

Magic Markets Ep108: The Trive Tribe

Travis Robson, CEO of Trive South Africa, joins us to unpack the Trive offering for traders and investors who are ready to take things to the next level.

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