Read Steinhoff carefully

Good Morning Voornaam,

Today is a bit like those weird days between Christmas and New Years when you aren't sure what day it is, who you are or even why you are. Well done for including some routine in your day and opening Ghost Mail.

Here's a suggestion: kick off your day with this excellent article from Trive South Africa on the luxury goods industry, including technical and fundamental analysis on the major global players.

Podcasts and videos

Let's get straight into the multimedia list today, with a few options to keep you busy:

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20% of nothing is still...wait for it...nothing

I'm not sure how much more the Steinhoff board can really do here to get the point across. They keep telling the market that the shares are worthless. In response, people keep speculating in the shares. It's a game of musical chairs really, with the music being bids in the market. When that music stops, whoever holds the shares is in trouble.

The latest announcement gives shareholders a decent overview of the process, along with a note that once again confirms that there is no equity value in the company.

In other news, Life Healthcare is still weighing up a potential sale of the offshore unit and the share price volatility over the past year has been enough to send anyone to the ER. We also saw updates from Grindrod Shipping, Kibo Energy, Kore Potash, MC Mining, Orion Minerals, Renergen and Royal Bafokeng Platinum.

You can get all of this and more in Ghost Bites this morning>>>

DealMakers

Weird Friday or normal Friday - it makes no difference to DealMakers. Aside from the usual summaries of local M&A and corporate activity, as well as deal activity in Africa, there's a piece on competition law developments in Africa. If you're interested in corporate finance, these articles are always worth a look.

Mixed signals and uncertainty

With renewed questions around the banking sector in the US, TreasuryONE notes that trade has been erratic. Gold and the US dollar didn't move in tandem, which is unusual. The rand came under pressure, possibly due to position squaring ahead of the long weekend. Risk sentiment is against the rand at the moment, so volatility is to be expected.

With that, I wish you an excellent long weekend!

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