| Good morning Voornaam, With just a couple of days to go until the mini-budget, what should you be looking out for from government? Investec's No Ordinary Wednesday podcast featured Annabel Bishop and Tertia Jacobs in conversation with Jeremy Maggs to unpack this topic. It's a great show that you should make time for. Enjoy it here>>>
If the government uses this time of year to do some financial planning, then perhaps you should as well. After all, it's too easy to just write off the rest of 2024 and promise yourself that you'll start in 2025. To help you with the process, Satrix has given us a wonderful little piece that deals with focus areas for a financial plan and things to be aware of in your investment portfolio. Find it here>>>
Last week, IG Markets South Africa took the plunge and wrote on what a Harris win in the US election could mean for South African financial markets. This week, it's Trump's turn. You can find that piece here. I'm also thoroughly looking forward to my Magic Markets partner Mohammed Nalla's webinar tomorrow night for IG Markets South Africa, in which he will be presenting on the US elections and what they could mean for markets. You can register for free here>>>
In company news, Dis-Chem released results with an income statement shape that investors just love to see. When margins are heading the right way, things feel great. Recent weeks have seen a bit of a slowdown in revenue growth though, so investors will watch out for that.
In other retail news, The Foschini Group likes White Stuff in the UK. No, really - that's the name of the retail chain that they are acquiring. The deal price hasn't been disclosed, which worries me a little bit. The other cause for concern is that the margins of that business look entirely uninspiring, so hopefully there's a plan around synergies.
Other news included Sun International getting on the wrong side of the Competition Commission, with that regulatory body recommending to the Competition Tribunal that the Peermont deal be prohibited. This is going to be a big one to watch.
There was also really important legal news for BHP and FirstRand, as well as a positive tax development for Sibanye-Stillwater. There's also stuff from Finbond and Mondi, along with the usual assortment of Nibbles. You can get it all in Ghost Bites here>>>
Capping off a busy day of insights for you, don't miss out on the opportunity to learn about the latest structured product from Investec that focuses on the exciting Indian market, a great emerging markets story. Find out more here>>>
Have a great start to your week |
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| THE TRADER'S HANDBOOK: Insights and strategies for currency markets |
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| | | In this episode of The Trader's Handbook, Shaun Murison from IG Markets South Africa joined me once more to explore the fascinating and often misunderstood world of forex trading.
We broke down the complexities of currency pairs, leverage, and volatility while dispelling common misconceptions about the risks involved.
The podcast and detailed transcript are available here>>> |
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| INVESTEC: India a gateway to outsized emerging market opportunities |
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| As the global economy shifts from a high inflation and high interest rate environment into the next interest rate cutting cycle, global investors are casting their net wider in their search for returns. India is an attractive opportunity. Investec explains why in this article>>> |
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| FEDGROUP: Don't let the markets haunt you |
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| | | In the month of Halloween, it's great to learn about how Fedgroup achieves solid returns with reduced levels of risk, making the whole experience far less frightening.
This is a topic close to my heart of course, with important topics like diversification and the use of alternative assets.
The podcast and detailed transcript are available here>>> |
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| SATRIX: Don't wait until 2025 for your financial goals |
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| Satrix: As October (which also happens to be Financial Planning Month) draws to a close, it’s easy to just write off the rest of this year and promise yourself that you’ll start in January. Instead, this is the time to plan and build momentum. Satrix gives some great practical tips here>>>
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| DOMINIQUE OLIVIER: How Marvel cracked the Universe |
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| | | Getting warm bodies in cinema seats is no easy feat in the age of streaming (just ask the likes of Ster-Kinekor or NuMetro). Yet despite the rising challenge, Marvel managed to create something in 2008 that drew audiences back to cinemas in droves – and they managed to keep that drive going for just over a decade. How did they do it and why hasn't DC done the same? Find out here>>> |
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| Ghost Bites - local company news: |
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| Ghost Bites: The latest on BHP, Dis-Chem, Finbond, FirstRand, Mondi, Sibanye-Stillwater, Sun International, The Foschini Group and numerous Nibbles in Ghost Bites here>>> |
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| Unlock the Stock - Pan African Resources |
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| | | Unlock the Stock: Pan African Resources returned to the platform to talk about the performance and prospects in an environment of favourable gold prices. Enjoy the presentation and Q&A here>>> |
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| Investec podcast: mini-budget preview |
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| | | In the latest episode of the No Ordinary Wednesday podcast, Investec Chief Economist Annabel Bishop and Treasury Economist Tertia Jacobs discuss the Finance Minister's priorities ahead of the mini budget on 30 October. Enjoy it here>>> |
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| International Business Snippet: |
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| United Parcel Service, a brand you'll probably recognise more easily as UPS, beat profit estimates in the latest quarter. They also raised their forecast for full-year adjusted operating margin, something that the market always enjoys seeing. There's an interesting shift in the business in terms of how packages are being handled, as the eCommerce landscape continues to develop.
This is interesting enough to warrant a closer look, so we've decided to cover UPS in Magic Markets Premium this week.
Last week, we covered Netflix. As the clear winner in the streaming wars, this has become a great business. Is it great enough to justify the valuation? You'll find out in the latest report for our subscribers this week. |
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| Magic Markets: What can we learn from market sector rotations? |
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| | | Magic Markets: Although there’s a risk of churning your portfolio too often if you become obsessed with short-term market movements, there’s a lot of value to be gained from the way Mohammed Nalla does his quarterly rotation work for institutional clients. In this episode, we cover recent sector performance in the US market and where some of the future gains may be found. Find it here>>> |
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| IG Markets Morning Call: daily macroeconomic update |
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| Ahead of a busy news week, we are seeing US index futures firmer, European and Chinese benchmarks tracking sideways, while Japan’s Nikkei is notably higher on the day. The outperformance on the Nikkei follows weekend elections, where the ruling coalition lost its majority, suggesting a less hawkish outlook to monetary policy within the region. The JSE All-Share Index is expected to open flat this morning.
The dollar has continued to gain on the increasing probability of a Trump election win and Republican control of congress, which would make legislation easier to pass. The rand is in turn weaker against the greenback this morning.
Oil prices have gapped lower on relief that Israel’s retaliatory airstrike on Iran bypassed oil and nuclear facilities within the region.
Gold is marginally lower on the day finding some pressure from the stronger dollar. The price of the precious yellow metal does however remain close to all-time high territory.
Today’s economic calendar is light, although major US tech earnings, inflation and jobs data await later in the week.
Key Indicators: USD/ZAR R17.70/$ | US 10yr 4.27% | Gold $2,738/oz | Platinum $1,021/oz | Brent Crude $72.30
The macroeconomic update is based on the morning call update by IG Markets |
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