Despite being halfway through December, the volumes have not dropped, on Friday alone $4.4bn traded – no surprise really as the Steinhoff drama is not over; still lots of short covering and on Thursday Christo Wiese alone had a R1bn margin call.

More Info

Some good news with SA’s Q3 GDP coming in at 2%. The Steinhoff saga continues: since Jooste’s resignation R223.8bn has been wiped off the exchange. Naspers is not out of the woods yet as US-based legal firm, Pomerantz starts an investigation and calls for shareholders to come to them for a class action lawsuit. CRH has withdrawn their bid for PPC, EOH is under huge pressure this week, despite no tangible or fundamentally based news stories… and the US economy added 228k new jobs in November.

More Info

The market suffered last week under a stronger than expected Rand and a weak Naspers, despite a good set of results. Private Sector Credit extension was weaker than expected at 5.4% year on year. US consumer confidence hit an all-time high as the S&P500 index hit record highs. In company news – FirstRand’s Laurie Diepenaar steps down to make way for Jardine, Advtech has voluntarily disclosed a fraud at top management, and Bidvest confirms the sale of Comair.

More Info

CPI inflation was released, coming in slightly lower than expected. SARB kept rates unchanged – the uncertainty was too much for them to handle… and there is lots to talk about credit ratings agencies. PPC rejects Fairfax offer, Mr Price looks like it is getting back on its feet, and Taste Holdings is unable to sell their jewellery business and has to raise almost their market cap in a rights issue. Plus, the US jobless claims are below 300k for the 142nd consecutive week.

More Info

The market gained three quarters of a percent last week, mostly driven by Naspers on the back on Tencent’s exceptional results. Consolidated Infrastructure fell 60% in one day last week. Tongaat reported results, and Vodacom reported results – the share was punished for a disappointing dividend. We look forward to the MPC and the credit rating agencies this week.

More Info

The JSE hit an all-time high last week, but has subsequently retraced a bit. Macro: SACCI Business Confidence figures were released last week, and it’s just not getting better. Steinhoff is in “trouble” with the German authorities again – this time because they did not disclose a “material” transaction. Brait released a trading statement and Imperial – the car and logistics business – sold their chemicals business unit Schirm to AECI. Richemont reported results – profit up 45%, Tencent buys more of Snapchat, and Alibaba generated a record $25bn in sales on Singles day.

More Info

The Rand fell 4% for the month of October, but it translated into a 5.7% gain on the stock market. Some good and some bad news on the economic data front for SA, and the Bank of England raises interest rates for the first time in 10 years. In the US, non-farm payrolls disappointed and Trump has put forward his candidate, Jay (Jerome) Powell, to replace Janet Yellen when her term ends in February. There wasn’t much in SA company news, the focus was all in the US: Facebook, Tesla, Mastercard, Pfizer and ‘the great and good’ Apple (getting closer to being a $1trn market capitalisation company).

More Info

The Rand reacted swiftly to the very disappointing budget, but at least the weaker Rand had a positive effect on the Stock market. Rand hedges were higher this week (Naspers now R3407 per share), and both Clicks and Dis-Chem reported some decent numbers. Also reporting, was ABInBev – saved by SABMiller and the emerging market consumer… as did Old Mutual Wealth (the UK business makes up 28% of the valuation of Old Mutual). AVI started trading under a cautionary. PPC has announced a bid from Lafarge Holcim, which sent the stock over R7 on Friday. And Amazon’s spectacular results has made Jeff Bezos the wealthiest man in the world again.

More Info

The Rand is blowing out on all the political shenanigans this week – cabinet reshuffle, rumours of CR17 and President Putin. A weaker Rand is good for Rand hedges, but bad for local shares. CPI inflation was very disappointing at 4.6% (headline inflation came in at 5.1%) – fuel inflation (5% of CPI basket) jumped 12.2% in Sept (vs 5.7% in Aug). And again, we’re seeing a local company look offshore for acquisition: FSR announced that they’re buying UK specialist lender Aldermore, Group 5 let a R1.6bn offer from Greenbay Properties lapes on Friday, and DSY finally got their banking license. Pick n Pay released H1’18 results and Richemont also released results – it looks like things have finally turned for the luxury goods sector. US earnings season has started with a bang as Netflix released results and the share was up over 4%… same story with Paypal, the share was also up >4% on the day of results. We’ve got SA Budget on Wednesday at 2pm – lots of questions about Nuclear.

More Info

Market update – out of the last ten trading days, we only had one negative close, while the Rand continues to strengthen – currently 13.26 / US$. Some good news in the manufacturing sector as August prints at 1.5% growth vs expectations of ½ % contraction. In company news, the PPC saga continues and Mondi released Q3 results – a shocker of a result, but is there a nice surprise waiting for us as they de-lever their balance sheet? PSG releases H1 results – good old steady eddie. Sun International acquires Thunderbird Resorts in Peru – are they really ready to acquire again, after a less than incredible run in the last year? Founder and CEO of Outsurance, Willem Roos, resigns – what impact will this have on the company?

More Info
Page 1 of 1412345...10...Last »