| Equity markets have started the new month on the front foot after last week's volatility, with buoyant resource stocks propelling the JSE to a new all-time high yesterday. The All Share Index rose for a second day, gaining 1.4% as platinum miners jumped close to 4% and the Resources Index added more than 2%. It wasn't only mining shares that did well. Cashbuild jumped close to 4% on the back of interim numbers that showed a doubling in first-half profit. Spur Corporation also rallied, despite a big decline in earnings, as it outlined some of the new formats it's introducing to some of its franchises as it adapts to Covid-19. And Wescoal jumped after the coal mining company said a consortium of investors had extended a bid to buy its shares on the open market. Wilson Bayly Holmes-Ovcon also closed higher despite reporting a big decline in first-half profit, weighed down by its Australian operations. Printing and publishing group Caxton has also warned shareholders to expect a decline in headline earnings, although basic earnings will be up after it disposed of non-core businesses. More on all those stories in your newsletter today. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics In "Budget blues" they say that impairments in the banking sector have grown at a compound rate of 12% per annum in ten years, reaching a record. Risk is elevated. Meantime, globally and in the US there are cautionary signals to take note of as "Booming along" unpacks. Other popular notes include "Dividend delight" and "Carnival or just a Bloody Circus?" | 