Is Zuckerberg going to drive Meta into the ground, or is there potential upside for investors? Subscribe to Magic Markets Premium to find out, as we covered Meta in our latest show. Ghost Bites:AngloGold has reported better numbers, thanks to production increasing at Obuasi.Datatec reported a mixed bag of results, with a special dividend from the sale of Analysys Mason coming at the end of the year. The backlog in supply chains is still negatively impacting the business.Gold Fields reported a stable quarter with a slight increase in costs. The company is being impacted by the relocation of endangered chinchillas (a true story).Murray & Roberts has had to reverse profits booked in previous years on two projects. This is going to smash profitability this year and has put the entire group balance sheet under pressure.Sibanye took a 10.4% knock on the market after releasing a quarterly update, with the impact of industrial action in the gold business still being felt.Truworths released a strong sales update but has flagged a challenging outlook. I hope you took some profits in August after that sharp rally, as the share price has come off considerably.As you can see, it was a busy day of news! There are full details on these stories and many others in Ghost Bites this morning>>> DealMakersAs you know by now, the DealMakers team kicks your weekend off with excellent summaries of all the corporate activity on the market. You can catch up on South African M&A, local corporate finance and African M&A. All that glitters isn't goldGold is now back at its two-week low, with pressure on commodities across the board. Global recession concerns continue to weigh on commodities. In currencies, the dollar traded strongly after the FOMC meeting. The pound has come under pressure based on the warnings of a recession that could last into Q1 of 2024. The rand traded in the R18.30s after trading above R18.50 at one point in the day. For market risk management and other solutions, speak to TreasuryONE. Get ready to Unlock the Stock once moreIf you are interested in the agriculture sector, then you should take the opportunity to learn about TWK Investments. We welcome the company back to Unlock the Stock next week Thursday at midday. As always, attendance is free! Register here>>> The 100 ClubThis is a big milestone: we have now released 100 episodes of Magic Markets! It feels amazing to be honest, as we have really given it our all as an independent podcast in a market that has many to choose from. To celebrate this milestone, it was fitting to have Petri Redelinghuys on the show to talk about Herenya's performance in the recent stockbroker awards. Of course, we also took the opportunity to talk about the markets. Celebrate with us at this link>>> With that, our week together draws to a close. Have a great weekend! |