| Good morning Voornaam, Looking for high quality stock research that has enough detail to help you make better decisions, but not so much detail that it confuses you or takes up too much of your time? Are you keen to expand your horizons and understand more about the global stock universe and the opportunities to both invest and trade in those stocks?
I believe that there are many retail investors who want more than what is available in the financial media, but don't have access to the fancy stuff that institutional investors get. This is exactly why I started Magic Markets Premium with my partner, highly experienced macroeconomic analyst and all-round good guy Mohammed Nalla. The price has been R99/month since we launched and I'm not sure we can keep it there for much longer, so take advantage of the current price and get yourself into that ecosystem. There's a huge library of research there already, along with new stuff every week. I don't think there's a better rand/insights ratio available anywhere in the market. Come join us >>>
In company news, Vodacom and Remgro have finally gotten the green light from the Competition Commission for their fibre deal. I just look forward to all the final details emerging about the conditions that were agreed to. This particular process deserves to be scrutinised, as I have a very dim overall view on the impact of that Commission on our country's economy.
In capital raising news, Prosus had no troubles in tapping the international debt markets for a casual R15.5 billion in capital. At the other end of the size spectrum, Orion Minerals managed to raise some cash and convert loans into equity, improving its balance sheet. Kudos to Orion Minerals for once again making a share purchase plan available to retail shareholders!
Get all the details you need on these updates (and of course the Nibbles) in Ghost Bites at this link>>>
Kingsley Williams at Satrix brings you a piece on what they've learnt from 25 years of being a market pioneer. ETFs really are wonderful things and the first investment I ever made on the market was a Satrix Top 40 ETF all those years ago. There are some great insights on ETF trends in this piece>>>
For Unlock the Stock fans, you can learn all about Attacq and the strategic focus of the group, along with how their property assets are responding to trends in the market like eCommerce. The recording of the recent webinar is available here>>>
Of course, there's nothing better than attending Unlock the Stock live, as you get to pose your questions directly to the management team. The next edition features PBT Group on Thursday at 12pm. Attendance is always free, but you must register here>>>
And finally, if you feel like you just need a lucky break this week, then you'll love Dominique Olivier's latest piece on the Timothy Dexter story. Let's just say that this enterprising entrepreneur had more than anyone's fair share of luck! Enjoy it here>>>
Have a great day! |
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| SATRIX: What 25 years as a market pioneer taught us about South African investing |
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| | | 25 years is a long time. Satrix pioneered the ETF market in South Africa and they've watched it go from strength to strength, with a broad offering of investment products to help South Africans get the equity exposure they are looking for at the lowest possible cost.
But what have they learnt over that period? And what are the recent trends in ETFs?
Enjoy this piece from Kingsley Williams at this link>>> |
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| GHOST WRAP: The JSE Winners' Club in 2025 |
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| | | At the halfway mark in 2025, we've lived through some huge geopolitical shifts. The world's gaze has shifted beyond just the US market.
Many investors choose to stick with what they know in times like these. This means homegrown favourites on the JSE.
But which stocks have been the big winners thus far this year, and what do they have in common?
Enjoy it here>>> |
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| PODCAST: Capital Markets in South Africa - the Think Big South Africa Competition |
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| PSG Financial Services is the proud sponsor of the Think Big South Africa competition, in collaboration with Economic Research Southern Africa (ERSA).
PSG wants to encourage South Africans to get involved in their country at the highest level, bringing forward policy ideas and constructive solutions to drive conversations and real change in our country. PSG CEO Francois Gouws joined me to explain why they are such strong supporters of this initiative.
Enjoy it here>>> |
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| GHOST BITES - Making sense of SENS on the local market |
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| | | Vodacom and Remgro finally got their fibre deal approved by competition regulators, with only a formality to come. Prosus enjoyed strong support in the debt market. Orion Minerals is raising capital the right way. Get the details in Ghost Bites>>> |
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| Unlock the Stock - Attacq |
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| In the 57th edition of Unlock the Stock, Attacq returned to the platform to talk through their recent numbers and strategy, including interesting trends in the property market across areas like retail and office space. The recording of the management presentation and interactive Q&A is available at this link>>> |
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| DOMINIQUE OLIVIER - Dumb luck: the Timothy Dexter story |
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| | | In a world obsessed with optimisation and five-year forecasts, there’s something deeply satisfying about success that arrives by mistake. And as mistakes go, Timothy Dexter was incredibly good at turning them into happy accidents. Dominique Olivier tells his story. Read it here>>> |
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| INVESTEC PODCAST: No Ordinary Wednesday - tensions, tariffs and the fragile global economy |
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| | | At the midpoint of 2025, the global economy stands at a precarious intersection of cooling inflation on one side and rising geopolitical tensions on the other. In this episode of No Ordinary Wednesday, Jeremy Maggs speaks with Investec Chief Economists Annabel Bishop (South Africa) and Phil Shaw (UK) about the shocks and signals shaping markets. Enjoy it here>>> |
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| International Business Snippet: |
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| The headlines are ablaze with news of Starbucks China attracting bids that would value the chain at up to $10 billion. CNBC broke the news, with major private equity names like Carlyle Group and KKR apparently fighting for a seat at the table for this transaction.
With US - China relationship status best described as "it's complicated" on Facebook (does anyone still do that?), it seems like an odd time for buyers to be queuing up to buy such an iconic US brand in China. The Starbucks share price has struggled to show any meaningful positive momentum in recent years, with a few false starts and an ultimately disappointing outcome by US equity standards.
And here's something to make all of us feel poor this morning: Jeff Bezos offloaded shares in Amazon worth $666 million in the past few days. This is barely scratching the surface, as he plans to sell more than 8x this number by May 2026. Those $50 million weddings in Venice tend to put a dent in one's balance sheet.
In Magic Markets Premium this week, our subscribers got to enjoy our work on FedEx. Sitting right in the cross-hairs of the trade war, particularly given the focus on global trade with a US leg, there's much to learn from FedEx. The entire research library in Magic Markets Premium is available for just R99/month. |
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| Magic Markets: Platinum and the Cheese Spread |
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| | | Drawing charts like orange juice and cheese futures might be fun, but there’s an important underlying influence that soft commodities have on inflation. Even if you don’t trade commodities, there are useful things to learn.
And of course, when we get to the hard commodities that are actively traded every day, we move from jokes about the cheese spread to very real analysis around the drivers of the platinum price and what this is doing for stocks like Sibanye-Stillwater.
Join us for a fun show that is ultimately an ode to commodities and the sheer breadth of opportunities available on the market. Enjoy it here>>> |
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| Macroeconomic indicators and macro update |
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| Overnight, President Trump announced that there will be "no more extensions," following his earlier comment that the August 1 deadline was "firm, but not 100% firm." He also warned trading partners against retaliation and threatened to raise tariffs on copper imports by 50%. This escalation added to market uncertainty and heightened tensions around global trade.
In response, European stock futures are pointing slightly higher, while US futures are trading flat to slightly lower. Asian markets are mixed, with the Shanghai Composite gaining ground, whereas the Hang Seng and Nikkei are slightly down for the day. Investors remain cautious amid the evolving trade situation.
Commodity markets have reacted notably to the news. Gold prices hovered near their lowest level in over a week, pressured by a stronger US dollar and rising Treasury yields, as fresh tariff threats weighed on sentiment. Copper futures surged more than 10% to a record high after Trump’s threat of new duties on the metal, which is essential for electric vehicles, military equipment, power grids, and numerous consumer goods. These new tariffs would add to the existing duties on steel, aluminium, and automobile imports.
Oil prices are consolidating recent gains after reaching two-week highs yesterday.
The South African rand remains steady, supported by hopes that the country can still negotiate a less damaging trade deal with the United States. Reflecting global market caution, the JSE All Share index is expected to open slightly lower today.
This update is provided by Shaun Murison. Connect with him on LinkedIn here.
Key Indicators: USD/ZAR R17.80/$ | US 10yr 4.39% | Gold $3,293/oz | Platinum $1,380/oz | Brent Crude $67.51 |
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