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.

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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.

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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.

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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.

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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.

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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.

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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.

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Markets had a strong 3.4% bounce on Friday, with resources up 5% but gold lagging. Since 4th Nov the Alsi is down 13%, is this a bear market or just a correction? SARB warned asset managers that they had breached the prudential offshore allocation limit, how is this good for Rand trading this week?

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Sarah Shaw stands in for Anthea Gardner and discusses Mr Price’s disappointing set of results, the constrained consumer is coming through in the majority of the SA retailer’s numbers. AB InBev listed on on the JSE recently and is one of the biggest inward listings to date, with a market cap of R3.1 trillion. Also, find out if the huge drop in the oil price will flow through to consumer’s pockets.

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Sarah Shaw discusses the volatile Rand trading session experience in Singapore on Sunday night, where we saw a 9% drop in the Rand against the US Dollar.  She also breaks down what a “currency peg” is, and how it affects the economy. The current drought faced by our country is obviously a major concern for our overall economy, Sarah looks at whether or not the drought has had an impact on our banking system yet, as well as the potential implications ahead.

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