Anthea is back from Ghana and has lots to say about it. The market has been volatile - last month the JSE lost 4.6%, and this month we’re already up >4% (although, nothing like the Cryptocurrency moves this month +75% m-t-d). The Rand is back to pre-Ramaphosa levels at 12.36 vs US$. Oil is above $74/bbl, so where are the Shale producers turning on the taps at $50/bbl and keeping the oil price muted? The Steinhoff AGM was a wet squib, and now trades with a R2 handle.
Read more
Markets had a volatile week because of US/China Trade Wars. Even local data has no clear direction as Business Confidence subsides but PMI data improves. In company news, the team debate the resignation of Mark Lamberti from the Eskom board after the court ruling against him; and the Steinhoff share price falls below its 1998 listing level. Spotify listed on the NYSE, making Daniel Ek one of the richest people in Sweden (not Switzerland, as the NYSE might have you believe!)
Read more
Global stock markets had a testing week, with the largest decline for the S&P 500 since 2016. While several factors drove the decline, fears of a trade war driven by the U.S. was the principal factor. Facebook had a difficult week, down 10% (wiping $50 billion off its market cap) following the Cambridge Analytica scandal.
Read more
Another week, and talk of another Viceroy report. Suspicion fell on Aspen (again), and even though it wasn’t the pharma, the share still fell from R256 to R230. Volumes were massive this week because of Futures Close-out and index rebalancing; on Thursday $4.2bn exchanged hands and on Friday $3.4bn.
Read more
Nice positive market this week (+2.5%) - Naspers carrying the can again and trading above R3500 per share. Tiger Brands took a beating from the Listeriosis findings (-13.5% for the week). Exxaro plummeted >13% on Friday after a management breakfast and the release of an HSBC report downgrading the stock.
Read more
There was a plethora of results last week; some of the big ones include: Bidvest, Shoprite, Anheuser Busch InBev, Nedbank, Mondi, Barclays (or is that ABSA?). The CEO of Ascendis Healthcare, Karsten Wellner, resigns and the share bounces from below R10 per share (1st Feb) to above R14 (at close on Friday).
Read more
Anglo American, BHP Billiton and Glencore reported last week. A German court postponed a ruling on whether German cities can ban diesel cars, which will have a massive effect on our platinum industry. H&M’s share price is down 40% over the last year (most of the fall since November). Kylie Jenner's tweet drops shares of Snap by 6%, and Warren Buffett released his shareholder letter on Saturday.
Read more
What a cracker of a week (that’s technical asset management speak for: the JSE was up 5.7%) and the Rand ended 11.63 (touched 11.56) against the US$. Local shares (especially banks) were flying! Property shares still under pressure after the “anonymous report” was released and they opened 15% lower on Monday...
Read more
Local bonds traded stronger on the back of a stronger Rand - which leaves us in an interesting position as we look to cut rates and the US looks to raise interest rates. A bloodbath start to the week with an equity market correction so many have been waiting for. VIX, the Volatility Index - also known as the fear index - hit a high of 50 (it normally trades around low/mid teens). Oil was down over 3% on Wednesday when oil production numbers got released. Christo Wiese has sold most of his holding in Steinhoff and now owns a mere 6.5%. Investec has a new CEO - or two! Hendrik du Toit and Fani Titi. Is this what is meant by BEE? And Disney reported a spectacular set of results.
Read more
Our market was the most volatile it's been in a long time and posted the biggest weekly loss in two years. The Rand weakened swiftly to trade back above 12/US Dollar. The big story of the week was all about Fraser Perring’s Viceroy research and the report they put out damning Capitec Bank...
Read more