| Good morning Voornaam, MTN shareholders are having a lovely time this year. They deserve a break, as MTN has dished out no shortage of stress in years gone by. In the pursuit of growth in Africa, they have to navigate some pretty volatile operating environments.
The good news is that Africa has really come right this year, with MTN Uganda as yet another excellent example of what is possible on the continent. I certainly wouldn't just assume that these good times will carry on forever, but it still makes for great reading.
In other good news, Datatec's latest trading statement indicates that they had an excellent second half to the financial year. This means that the positive momentum in the interim period was carried forwards, which is exactly what shareholders want to see.
DRDGOLD is unfortunately the blemish today, with a quarter that was significantly impacted by rainfall and disappointing production. When you are reclaming surface material, you're going to get particularly affected by things like the weather. Luckily, the gold price has been so strong that it almost made up for the production issues.
These details and the Nibbles are available in Ghost Bites at this link>>>
Have you ever wondered about the nuts and bolts of an ETF and how it can track so many stocks at a low cost? Lauren Jacobs, Senior Portfolio Manager at Satrix, joined me on the latest Ghost Stories podcast to talk about what a day in her life looks like. It's a fascinating look at how ETFs actually work and what the different ways are to replicate an index. I enjoyed recording this podcast and you'll also enjoy the end result at this link>>>
You can also enjoy the latest episode of No Ordinary Wednesday, the excellent Investec podcast that is hosted by Jeremy Maggs. It features Annelise Peers and Richard Cardo in a discussion on US exceptionalism and the potential in alternative markets. Get it here>>>
This morning is your last chance to register for Unlock the Stock with ASP Isotopes, coming your way at 12pm today. Get to grips with this new listing and learn about a South African company that sits at the forefront of isotope technology. Attendance is free, but you must register here>>>
Have a great day! |
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| SATRIX: A Day in the Life of a Portfolio Manager at Satrix |
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| | | Ever wondered how the nuts and bolts of ETFs work? What goes into index tracking and making sure that it is achieved at the lowest possible cost? And are all indices created equal from a complexity perspective?
Lauren Jacobs (Senior Portfolio Manager at Satrix) shows you what a day in the life of a portfolio manager looks like.
Get ready to learn and be inspired at this link>>> |
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| GHOST WRAP: April's droppers and whoppers |
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| There may have been many public holidays in April, but that didn't stop the market from reacting to the broader geopolitical turmoil. With recession concerns as a key theme, which stocks did well and which ones delivered a nasty drop? This podcast is an overview of recent big share price moves among larger local companies on the JSE, revealing some interesting trends. Ghost Wrap is brought to you by Forvis Mazars. You can find the recording and the transcript at this link>>> |
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| GHOST BITES - Making sense of SENS on the local market |
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| | | MTN Uganda is the icing on the African cake for MTN. Datatec had a great financial year, with momentum in the interim period having continued into the second half. No such luck for DRDGOLD, where the latest quarter was hit by production issues. Get the details in Ghost Bites>>> |
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| Unlock the Stock - CA Sales Holdings |
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| In the 51st edition of Unlock the Stock, regular attendee CA Sales Holdings returned to the platform to talk about the recent performance and strategic focus areas for the group. The recording of the management presentation and interactive Q&A is available at this link>>> |
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| DOMINIQUE OLIVIER - The IVF pioneer the world (almost) forgot |
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| | | Science doesn’t just progress in laboratories. It unfolds in the margins, shaped by the people, politics, and institutions around it. The story of IVF, when told in full, reminds us that breakthroughs are often born twice: once in the petri dish, and again in the public imagination. Dominique Olivier explains how IVF was really developed in this piece>>> |
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| INVESTEC PODCAST: USE Inc - a superpower stumbles |
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| | | With the recent global markets turmoil, driven by US President Donald Trump’s tariffs policies, questions are being asked about the future of US exceptionalism. Jeremy Maggs hosts this episode with Annelise Peers and Richard Cardo of Investec. Get the insights in this podcast>>> |
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| International Business Snippet: |
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| Irritatingly (for me as a shareholder), Uber missed on revenue expectations. Although they beat on earnings, the growth-focused US market is all about revenue. I must point out that revenue was up 14%, so this shows you just how high those expectations are. As a sign of the times, the company changed its policy recently to require staff to be in the office three days instead of two. It is rather ironic that a mobility company has been so accommodating in allowing people to work from home!
Although much of the bull case for Uber in US media is built around autonomous driving, I think there are many other reasons to believe in the story. Perhaps I will be wrong, but that's how investing works - you don't get all of them right, otherwise there wouldn't be any risk.
This week in Magic Markets Premium, we've covered Waste Management. This company probably isn't on your radar, yet it represents a solid utility-style investment profile with a wide moat. As our subscribers will find out in the research, you need to pay a beefy multiple for that profile. But is it still appealing? |
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| Magic Markets: Mesh.Trade - Unlocking Private Markets |
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| | | Magic Markets: As the recent trend in IPOs and delistings on public markets tells us, an increasing number of companies are looking to private markets for their capital raising needs. This means that retail investors are being shut out of these opportunities, which is particularly problematic as these early-stage opportunities usually offer the highest potential returns.
Mesh.Trade is committed to increasing access for investors, which is why the platform is designed to enable issuers to raise debt and/or equity funding.
Connie Bloem joined us to talk about why access to good quality private assets is so important in the South African market. To learn more, listen to this podcast>>> |
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| Macroeconomic indicators and IG Markets macro update |
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| US stock futures posted modest gains following the Fed's decision, though market volatility is expected to persist due to inconsistent economic indicators and ongoing trade discussions.
US Treasury and trade officials have scheduled meetings with their Chinese counterparts in Switzerland, potentially easing trade tensions and having a positive impact on market performance.
Chinese and Hong Kong markets approached one-month highs on Thursday, recovering losses incurred since President Trump's "Liberation Day" tariffs last month, as Beijing's stimulus measures and interest rate cuts helped alleviate trade concerns.
European index futures are trending higher this morning after German industrial production and trade balance data exceeded expectations.
The dollar has strengthened, while improved risk sentiment following progress in trade tariff discussions has caused a slight decrease in gold prices.
Oil prices have stabilised after declining yesterday, still affected by global growth concerns and recent announcements of OPEC+ production increases.
The rand is slightly weaker against a stronger dollar this morning, though the JSE All-Share Index is expected to open in positive territory, aligning with its global index peers.
Key Indicators: USD/ZAR R18.30/$ | US 10yr 4.30% | Gold $3,329/oz | Platinum $981/oz | Brent Crude $61.31
As often as practically possible, insights from the IG Markets morning macro update by Shaun Murison will be featured here. Where this isn't possible, only indicators will be provided. If you want to learn more about trading, refer back to The Trader's Handbook, a podcast series that takes you through many of the important principles in trading. |
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