The Rand had a sudden blowout on Friday on the back of Fed comments. Looks like we need to be a bit patient with Discovery, while FirstRand remains Anthea’s top pick in the sector. SAA gets approval for the R5bn loan guarantee.

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The markets caught a bid on Friday with NPN hitting a new high of R2491. Bids have dried up for Barclays Africa Group, and the Samsung Note7 recall will cost the company a “heartbreaking” amount of money.

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If you’d invested R100,000 in the JSE 20 years ago, today you’d have R1.6m. Anthea reviews the Jackson Hole central banks symposium and wonders why Christo Wiese is buying a diamond company.

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Anthea points out that there is money in sports companies as the Ironman brand, owned by China’s richest man, has bought the ABSA Cape Epic mountain bike race. Oil continues to rally but the local equity market is under a bit of pressure. It’s a mixed bag of trading updates from resource companies while Adcock-Ingram outshines. And finally, Ben wants to know if a sports bed is a good investment.

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Positive Manufacturing Output is giving us hope that the economy is showing a glimmer of hope. On the back of this and a weaker Rand, industrial stocks caught a bid, helping our market to close just over 1% higher on Friday. Aveng was up another 18% to close the week 40% higher and Stellar Capital closed up 9% after the deal announcement. The JSE reported diluted HEPS up 19% year on year, but the share closed 1% lower. Harmony Gold also fell after releasing a trading statements saying HEPS would be over 200% higher.

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The local market are under pressure as MTN reports shocking results and that they paid R1.3bn in legal fees. Megatron, a subsidiary of Ellies has filed for business rescue. US non-farm payrolls printed at 255k vs the expected 185k. And Steinhoff are buying Mattress Firm to become the world’s largest multi-brand mattress retail distributor.

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The Rand has broken through 14 against the US dollar level and is now the strongest it has been since November. Italtile listed in 1992 and is up 13,350% – Anthea talks us through the history of the company and the competition commission’s recent prohibition of the buyout of Ceramic Industries. Plus three new listings coming to the JSE.

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Markets were a bit slow on Friday, but expect a busy week, with lots of companies reporting. Telkom was up 3% on Friday, after kicking off an aggressive mobile data price war to grow their market share beyond 2.5%. A look at the listed schools sector, where Anthea still prefers ADvTECH group. She also discusses the Top40 index, which has changed significantly over the last 10 years from Resources heavy to more Industrials and Consumer stock weighted.

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The JSE continued to rally on Friday on the back of good Chinese GDP growth numbers, while Europe and the US were less convincing. Anthea looks at our local retailers that outshone the market, but remains worried about Richemont and SAA. It might be time to add some gold to your portfolio as a hedge against muted global growth, and the possibility of Trump winning the US elections.

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The markets feel like they’re selling down ahead of global central banks meetings, and the expectation that BoE will cut the Repo rate to 0.25%. Italian banks are still under pressure, and the JSE moves to T+3 settlement today.

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