| Good morning Voornaam,
If you are a business owner or a key decision maker in a South African firm and you are finding things tough right now, you aren't alone. Even a business like Pepkor, which is focused on value offerings to consumers, is finding it very difficult to move forward in this environment. Volumes are down and we are even seeing credit sales coming through in PEP to try and prop up sales. More on that in Ghost Bites this morning.
There's a brand new episode of Magic Markets for you to enjoy today. We covered Amazon and Alphabet, with the former having particular relevance to South Africans as the eCommerce giant is entering our market soon. You can listen to the show at this link. Magic Markets is brought to you by B2IT. If you hate it, automate it with B2IT. |
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| BRAND NEW: Ghost Stories podcast with Nico Katzke of Satrix |
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| | | Nico Katzke is no stranger to Ghost Stories listeners. There's always so much to learn from him about markets and investing. This time, you also get to enjoy him putting me through my paces in the second half of the show. |
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| LATEST: Ghost Wrap podcast
(Santova | Spear REIT | Bytes Technology | Super Group | Clicks) |
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| | | The latest Ghost Wrap podcast needs just a few minutes of your time to get you up to date on Santova, Spear REIT, Bytes Technology, Super Group and Clicks. Ghost Wrap is brought to you by Mazars. |
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| DON'T MISS THIS: Magic Markets podcast |
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| In Episode 148 of Magic Markets, we worked through the latest numbers and strategic news from Tesla and Netflix.
It's critical to remain objective when looking at these global tech giants, although it's still rather debatable whether Tesla is a tech company!
Thanks to B2IT, you can get our views on these two important companies. And remember: if you hate it, automate it with B2IT. |
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| Lesaka Technologies joined the Unlock the Stock platform for the first time to talk about the recent financial performance and the strategy. You can watch the recording here, thanks to our partner A2X. |
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| LATEST: The ETF revolution - views from Satrix |
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| Kingsley Williams of Satrix gives us nine reasons why the boom in ETFs makes sense.
In my opinion, every investor should be using ETFs in a portfolio. This is why I'm always grateful to Satrix for their insights in Ghost Mail. |
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| DAILY: TreasuryONE Market Update The dollar fell sharply yesterday as the market took the view that US interest rates have peaked. The focus now is on the non-farm payrolls data that should be released today. The rand did particularly well yesterday with some solid underlying trade among importers and exporters as well, trading below R18.40 this morning!
Our local market got a further boost from a positive move in commodity prices, as a softer dollar and improved risk sentiment are both useful underpins for commodity prices. |
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| | | Get the latest on Collins, MC Mining, MTN, Murray & Roberts, Pepkor, Sibanye-Stillwater and Textainer to keep you up to date. It's all available with a single click in Ghost Bites. |
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| You'll need a strong coffee for Sibanye-Stillwater Sibanye-Stillwater basically published a novel on SENS yesterday. It was huge. It would probably go onto the horror shelf at your local bookstore based on the trend in EBITDA, so prepare yourself.
I've been pointing out some real concerns in MTN's African businesses this week. Uganda is a bright spot at least, growing way ahead of inflation. It's unfortunately just too small in the group context to make up for the rest.
But perhaps the biggest story this morning is Pepkor, which is now loss-making if you include impairments. The impairments are coming through because the business units are underperforming and the discount rate used in impairment testing has increased significantly.
This is very different to cash profits, or headline earnings as the preferred metric in South Africa that excludes the impact of non-cash impairments. Even on that metric, earnings will be lower (but still profitable).
And if none of that tempts you, at least read Ghost Bites for the latest from Murray & Roberts and Collins Property Group, along with news of a potential takeout at MC Mining.
Get it all with a single click in Ghost Bites this morning.
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| You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.
Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
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The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. |
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