And, I was wrong on Tiger

Good Morning Voornaam,

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Ghost Bites:

  • Mediclinic's earnings are a mixed bag and there's no dividend because of the Remgro / MSC offer
  • PPC expects a substantial drop in earnings, with the business in Rwanda as the rainbow on a cloudy day
  • I'm glad I gave up on Spar font> earlier this year, as the latest results are rough and the market hated them
  • I got it badly wrong with Tiger Brands - the company has managed to push through pricing increases and has grown its earnings
  • The current Woolworths management team continues to impress with another solid update

Yesterday was an insanely busy day of announcements on the JSE. I worked my way through seemingly endless SENS announcements so that you don't have to. Save yourself time and get right up to speed by reading Ghost Bites>>>

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Has the rand run out of puff?

After the market ran towards the dollar as the news initially broke of rockets striking Poland, the world breathed a sigh of relief and traded sideways for most of the day. The rand has strengthened by around R1.20 in a week but has found the going a bit tough around the R17.20 level.

Has the rand run out of puff? With such a big move, it's easy to say that the rand is looking stretched. TreasuryONE wouldn't be surprised if the rand lost some ground into the back end of the week, potentially forming a base at the current spot level that could set up a retreat back towards R18.00 once again.

Despite the risk-on rally currently at play, the expectation is for emerging markets to come under pressure should economic data turn negative.

Podcasts

Have a lovely Thursday!

Ghost Bites (Mediclinic | PPC | Spar | Tiger Brands | Woolworths)

Mediclinic's earnings are a mixed bag. PPC is under pressure and Rwanda is the star of the show. Having now seen these results, I'm glad I gave up on Spar earlier this year. I got it badly wrong on Tiger Brands. Woolworths continues a strong run.

Equites Property Fund joins Unlock the Stock for the first time. If you're interested in industrial property, this is a great discussion.

Unlock the Stock: Equites Property Fund
Unlock the Stock: TWK Investments

Diversified agriculture group TWK Investments returned to Unlock the Stock to update you on the latest results and the prospects of the business.

 

Ghost Wrap is fast, fun and informative. Welcome to your weekly wrap of the most important and interesting stories on the JSE.

 

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