A good day on the exchange on Friday as almost all equity indices and the Rand showed signs of strength. Rand reached 15.01 after Treasury issued a 10yr maturity Dollar bond, which was 2x oversubscribed at 4.875%. Illovo sugar was up over 15% after Assoc British Foods raised their bid to R25 per share. Then, hear about the Finance Ministry approving a 34% increase on wheat import duties.

More Info

The Rand has held its own, after the ConCourt decision, now trading close to pre-Nene levels. African Bank “re-launches” today with a cash position of R24bn. US non-farm payrolls surprised to the upside, printing 215k vs an expected 205k new jobs in March. If you’re a holder of Torre shares, you have an option to take the cash or scrip dividend, we recommend taking Scrip. Tesla was up over 5% on Friday after the release for the Model 3.

More Info

Last week saw the JSE close strong after Futures and Options Close-out and the rate hike decision. $2.6bn was traded on Friday, after $4bn worth of shares changed hands on Thursday. Anthea and Gareth discuss the role of rating agencies and question the hype surrounding SA’s potential downgrade. On Friday Goldfields did an accelerated book build and issued 38.8m shares at R59.50 each.

More Info

Buy on rumour, sell on fact… Old Mutual was up almost 12% since the rumour of them splitting up the business and down 3% on Friday after the results presentation. EOH reported results last week and remains a holding in our portfolio. Rand Merchant Insurance also released results showing that OUTsurance earnings grew 25% in 1H16. Meanwhile, it looks like we’re expecting a 25bps rate hike on Thursday when SARB MPC meet.

More Info

The ALSI was up 7 straight days in a row on Friday, making the weekly gain 5.6% led by resource shares which were up 35% for the week. Talk of Old Mutual breaking up into four separate pieces will be confirmed at results on 11 March. We start the week of derivatives with an explanation of Delta One.

More Info

Having a decent run and now trading in the green for the year after Friday’s 2.2% bounce, are resources at the bottom of the cycle? Y-t-D Anglo American up 53%, Sibanye Gold up 128% and Amplest +84%. Warren Buffet released his annual letter to shareholders on Saturday, mostly defending his investments in 3G and Clayton. Good news for South Africans as the petrol price is set to drop.

More Info

MTN fell 18% on Friday after saying that HEPS (Headline Earnings Per Share) would decline by 20% versus consensus 13%. Swiss watch exports fell 8.1% in January, and HYT said they had not sold a single watch at an outlet in Paris since the attacks last year. They’re also seeing competition in the lower end watches from the Apple Watch.

More Info

Despite the stronger Rand, resources bounce >5% on Friday with Arcelor Mittal (ACL) spiking 24%. ACL released full year results on Friday, saying that steel sales were down 11% for the year and they printed a headline loss of R5.3bn. Pioneer foods released a trading update saying that gap T/O grew 8% but the read-through to inflation remains scary with maize prices up 80-90% in the year from Aug 2015.

More Info

JSE was up 36bps on Friday, despite global markets falling on the back of US non-farm payrolls number disappointing (151,000 jobs were created vs expected 190,000) Nene resigned in December, but it was only made official on Friday evening. African Bank is given B+ status (four notches below junk status), but they have R10.5bn in non-performing loans on their books. Stay away from ponzi scheme MMM.

More Info

Markets here, Share Indexes there, recession and trends all can get a little confusing. Anthea Gardner joins Gareth Cliff and his team to talk you through where you money is best positioned to grow. Taking the confusion out of financial talk, Anthea simplifies what you need to know, leaving all the useless jargon and banter for finance gurus who have all day to analyse data.

More Info