| Good morning Voornaam, Ghosties, it's rugby time. Tomorrow afternoon, the Springboks and Ireland will clash at the Home of Moer: Loftus Versveld. Featuring the greatest collection of Hilux bakkies per square kilometre, that mildly terrifying part of Pretoria will bear witness to the best of the best in the sport. Light the fire and celebrate everything about being South African. I know that I'll be doing exactly that!
Moving on from long kicks to long positions, by now you know that IG has come on board as a partner in Ghost Mail. This means that we will all be learning a whole lot more about the thrilling world of trading. If you're wondering how much money you need to get started in trading, this article by the IG team will be helpful. And if you just can't wait to play around on the platform, then you can set up a demo account here to get familiar with it.
Fresh out the oven:
Ghost Bites: Lighthouse Properties is pushing forward with the strategy of focusing on investing in Iberia. That was the only major story of the day, but there are some director dealings that I'm certainly paying attention to as part of Little Bites. You can get all the details in Ghost Bites>>>
Magic Markets: The GNU dawn might be all the rage in South Africa, but what does this mean for portfolio strategies? Which macroeconomic indicators are important here and which sector would we focus on to play this theme? Listen to the podcast or read the transcript at this link>>> Ghost Wrap: You need just five minutes to get the latest on a few stocks that I think are worth watching in a GNU environment. KAP, Sephaku Holdings, ArcelorMittal and Nampak are all waiting for you, brought to you by Forvis Mazars. Listen to it here>>> Unlock the Stock: For the stock pickers among you, there's really nothing better than hearing directly from the management teams of listed companies - especially in a Q&A session. The latest edition of Unlock the Stock featured Spear REIT and Adcorp. Enjoy it here>>> DealMakers: Each Friday, the DealMakers team brings you excellent summaries on local M&A, local corporate finance and deals in Africa. There's also a piece on business crimes and forensics, as well as recent developments in competitition law. |
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| In case you missed it:
Investec No Ordinary Wednesday podcast: The market may be unpredictable, but your investment strategy doesn’t have to be. Investec Investment Management experts share their insights on what approaches are winning, common mistakes investors make, and why staying the course is important. Enjoy it here>>>
Satrix: Balancing risk and romance isn't easy. The stats tell us that financial misalignment is a major source of strain in relationships. In this lovely piece from Satrix, Duma Mxenge shares insights into how couples can reduce that stress in their relationships. Read it here>>> Ghost Stories with Kingsley Williams of Satrix: There is only one free lunch in investing. Aside from the benefits of diversification, we discussed many other elements of investing. You can enjoy it here>>>
Dominique Olivier: Blue is actually the colour of money, not green. Ever wondered where royal blue comes from? Can you believe that there was a time when even Michelangelo couldn't afford blue pigments? Dominique Olivier digs into the history of the most expensive colour of all - and how rarity doesn't last forever. Read it here>>>
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| Learn all about Spear REIT and Adcorp |
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| Spear REIT and Adcorp were the latest companies featured on Unlock the Stock. This included presentations by both management teams, as well as an engaging Q&A session with each company. The full recording is available here. |
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Local company news:
Lighthouse Properties is serious about its Iberian strategy, as evidenced by the latest acquisition - a mall in Portugal. After this transaction, the Iberian portfolio will be over 72% of the pro rata fair value of the directly held properties in the fund.
Although that was the only major story on the local market yesterday, there were some very important Little Bites - especially on the director dealings side.
It's a quick and important read this morning, available in Ghost Bites at this link>>>
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| Blue: the colour of money |
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| Rarity doesn't last forever. If people can find a way to make something accessible or cheaper, they will.
The colour blue is the perfect example. Once the colour of royalty and with very good reason, blue is now available to everyone. Dominique Olivier tells this story. Read it here>>> |
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| The only free lunch in investing |
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| With volatility as the theme in markets in a year of elections, it’s important to keep your head as an equity investor. Take a long-term view and let the market do its job. Easier said than done, of course.
Kingsley Williams joined me to share practical tips and important insights into investing. The podcast and full transcript are available here. |
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International business news:
Sport is big business and women's sports are becoming bigger businesses by the minute, which I think is fantastic. The National Women's Soccer League in the US is allowing private equity firms to take control of franchise teams and investors are lining up accordingly. Other major sports leagues in the US typically only allow minority stakes for private equity.
In retail, there's news of a deal in the world of department stores. The owner of Saks Fifth Avenue will acquire Neiman Marcus for $2.65 billion. The post-pandemic period has been very challenging for several retailers in the US, with extensive inventory levels at exactly the same time as demand came under pressure. Difficult times in a market tend to lead to dealmaking activities.
Samsung is trading at its highest level in over three years thanks to beating expectations for the second quarter. Memory chip prices seem to have done the trick, boosted by AI optimism.
If you want to become a better stock picker, Magic Markets Premium is perfect for you. We covered Acushnet this week. To get access to this research and the rest of the vast library, subscribe to the platform here. |
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| Macroeconomic Update with IG's morning call The dollar continued to slip lower in low volume trade as the US celebrated Independence Day. The rand is a short term beneficiary of the softer dollar, looking to appreciate for its third day in a row.
European and US index futures are pointing to a positive start for the day, although gains could caution into this afternoon's key US jobs report.
Asian benchmarks have drifted lower after starting firm, suggesting some profit taking in the short term.
On balance we are expecting a flat to marginally higher start for our local bourse the JSE All-Share Index this morning.
Oil prices are looking to close in positive territory for the fourth consecutive week. Supply concerns and the suggestion of increasing demand over the US summer period are helping drive near term gains.
Gold has tracked higher in an inverse correlation to movements on the US dollar.
Traders will look to US Non-Farm and unemployment rate data this afternoon for short term direction.
Key Indicators: USD/ZAR R18.24/$ | US 10yr 4.37% | Gold $2,363/oz | Platinum $1,003/oz | Brent Crude $86.89
The macroeconomic update is based on IG's morning call update |
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