World markets, the JSE included, recovered slightly yesterday after last week's massive selloff, as bargain hunters re-entered the market. Reuters reported that central banks were also poised to step in with stimulus measures due to the economic risks posed by the spread of the coronavirus.

The relative calm after last week's sharp decline, which left most major stock exchanges in correction territory after falling more than 10%, allowed investors to focus on corporate news released into the market.

Bidvest's shares gained on the back of its interim results - although the numbers were distorted by accounting changes and Comair's impairment of money it's owed by SAA. RCL Foods' results were also impacted by negative accounting adjustments and the impact of the new IFRS 16 treatment of leases - which has been a prevailing theme this reporting season. Sea Harvest reported a strong catch for the first half of its financial year, while MAS Real Estate is pushing ahead with the shift from Western Europe to Central and Eastern Europe.

Also today, Datatec is considering listing the Latin American operations of its Logicalis subsidiary in Brazil and Cartrack has been approached by investors proposing a restructuring of the group and a global listing.

Finally, in Ingham Analytics very popular "Saxo's electrifying message"note on 6 January, the bottom-line message on JSE banks was sobering. And since then share prices have weakened, accelerating this past week. In a follow up note, "2020 budget - backdrop to an outrageous prediction", Ingham Analytics takes their thinking on JSE banks further. Is the coronavirus panic alone deepening the sell-off in banks, along with much of the JSE, or is there something more deep-seated that should worry investors? Click here to find out.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect

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