Happy Monday! I hope you had an excellent weekend filled with people and things you love. I thoroughly enjoyed one of the most strategically interesting races in Formula One in ages. This season is delivering proper fireworks.

There was quite a bit of worthwhile news on Friday, including a management incentive package at Prosus that I think makes sense. I like the idea of executives being given what they call a "moonshot" incentive if things really go well. As the great Charlie Munger said: "Show me the incentive and I'll show you the outcome." The details on what Prosus has done can be found in Ghost Bites, alongside important news from Karooooo, Ascendis, Capital & Regional and others.

Brand new stuff today includes a Ghost Wrap podcast, brough to you by Forvis Mazars and covering Richemont's sales, AVI's profitability, Karooooo's growth and the remuneration package at Prosus. For those who prefer to listen rather than read, this is a great podcast to add to your podcast player subscriptions. Find it here.

There's also an insightful piece from Dominique Olivier, who was reminded of a Delacroix masterpiece by the iconic photo of Trump after the attempted assassination. This got her thinking about online cancel culture in general and how we are just using new methods for old ideas. Read it here.

Have you been enjoying the collaboration with IG Markets? I know I have! As we touched on in the podcasts, having a trading plan is an important part of finding success with this. Here's a great article from IG on how to create a successful trading plan.

The busy time for Unlock the Stock continues, with Tharisa scheduled to present this Thursday at 12pm. With a focus on PGMs and chrome, this is a really interesting company and they have the slot all to themselves. Put on your analyst hat for an hour and bring your questions to the session. You can register to attend for free here.

Have a great day!

The Wall Street Journal reported on Friday that Elliott Management, an activist investor, has taken a significant stake in Starbucks. This doesn't seem to be confirmed as of yet, but that didn't stop the share price rallying 6.9% in the hope of improved performance. Starbucks has been struggling, mainly due to labour troubles and worker unions internally, along with sales pressures as well.

The CEO is taking strain, but Howard Schultz (the founder) surely cannot return for a fourth stint as CEO. Succession has been a major challenge at the firm.

If you want to become a better stock picker, Magic Markets Premium is perfect for you. We covered Tesla and Costco as our latest reports. To get access to this research and the rest of the vast library, subscribe to the platform here.

US benchmarks ended Friday’s session lower as markets continue to adjust for a potential Donald Trump election victory later in the year. President Joe Biden has now exited from the election race.

The dollar has started to rebound from last week’s lows.

Asian markets are trading mixed with the Shanghai Composite Index lower while the Hang Seng is firmer on the day. Chinese policy makers cut benchmark lending rates over the weekend, although the region's policy outline has fallen short of market expectations.

European index futures are also trading mixed and we are expecting a muted start for the JSE All-Share Index this morning.

The rand is marginally weaker in early trade today.

Oil prices have fallen on the prospect of a ceasefire in the Middle East.

Gold has continued to correct from all-time highs as the dollar firms.

Key Indicators: USD/ZAR R18.60/$ | US 10yr 4.22% | Gold $2,403/oz | Platinum $964/oz | Brent Crude $82.24

The macroeconomic update is based on IG's morning call update