| Good morning Voornaam, Following a sensible, coherent strategy is incredibly valuable for a company. You would think that everyone knows this and takes this advice, yet you'll often find large groups dabbling in things that are unrelated to their core competency.
Not so at Spur, where they are focused on delivering meals at the right price point to a South African audience. The numbers have been consistently moving higher and the latest period is no exception.
Over at Curro, the bulk of the growth is coming from fee increases and ancillary revenue. Volumes are proving hard to come by. The management team must be hoping that the GNU will slow down trends like emigration, which means more kids staying in South Africa and filling the schools.
On a busy day of news, we also saw earnings updates from Blue Label Telecoms, DRDGOLD, RCL Foods and Sabvest. There were also corporate updates from Jubilee Metals and Sibanye-Stillwater. Everything you need from all these companies, as well as the latest director dealings and Little Bites, can be found in Ghost Bites here>>>
I'm thoroughly looking forward to releasing the next episode of The Trader's Handbook next week. In the meantime, make sure you're up to date by listening to Episode 4 (and the ones that came before if you missed them). We've covered a number of foundational concepts that will be important for the coming shows. Find all four episodes here and start your journey in my collaboration with IG Markets South Africa.
Brand new content today includes the latest episode of Magic Markets, in which we covered concepts related to portfolio construction. Craig Antonie of AnBro joined us, sharing his insights from building portfolios ranging from growth to yield and quality. Enhance your understanding of portfolio management here>>>
Have a great day! |
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| FEATURED: The Trader's Handbook Ep 4 |
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| | | IG Markets Episode 4: The markets are as varied as they are beautiful, so it's no surprise that there are various different trading strategies available. Get an overview of the approaches taken by traders in the latest episode at this link>>> |
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| FEATURED: Portfolio Construction with AnBro |
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| Magic Markets: Picking stocks is great, but what about the portfolio that they belong in? How do you get the position sizing right, or create a coherent strategy? We explore this topic in the latest Magic Markets podcast and transcript. Find it here>>> |
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| FEATURED: Unlocking the true value of TFSAs for South Africans |
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| | | Satrix: In an article that I could not agree with more, Duma Mxenge talks about the importance of tax-free savings accounts and why they could be rebranded to make it clearer that this should be the cornerstone of an investment journey. Get his views in this excellent article>>> |
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| FEATURED: The rise of self-directed investing |
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| Investec Podcast: As part of the Investec No Ordinary Wednesday series, you can enjoy Jeremy Maggs in conversation with Tinus Rautenbach, head of Investec's online platform Clarity, as they discuss the rise of self-directed investing. Find it here>>> |
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| Ghost Bites: The latest on Blue Label Telecoms, Curro, DRDGOLD, Jubilee Metals, RCL Foods, Sabvest, Sibanye-Stillwater and Spur, along with various Little Bites in Ghost Bites here>>> |
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| | | Ghost Wrap: With thanks to Forvis Mazars, this podcast brings you the latest on Absa vs. Standard Bank, MTN and NEPI Rockcastle, all in just a few minutes in the Ghost Wrap podcast. |
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| Unlock the Stock: In the latest session, Tharisa Plc returned to the platform for an update on the company performance and strategy going forward in PGMs and chrome. You can watch the recording here>>> |
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| Nico Katzke of Satrix: The GNU has driven significant optimism around the South African market. To help us understand where this is playing out and how the carry trade protects the rand, Nico Katzke joined me on Ghost Stories. Find it here>>> |
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| Magic Markets: What is the right way to prepare for a major sell-down in the market, or even a crash? It's all about research and watchlists, as well as having money that is ready to go into those dips. We discuss these concepts in this podcast>>> |
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| International Business Snippet: |
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| The shift from EVs towards hybrids continues, with Ford pulling back on even more of its EV plans in favour of hybrid models. Ford has suffered some significant once-off costs around investment in EVs and subsequent changes of heart, with the company now focusing on SUVs as its perceived area of strength. Toyota continue to look like the geniuses in the room for focusing on hybrids from the start!
In other news, retailer Target beat earnings and revenue expectations for the second quarter. The outlook for the full year wasn't so great though, with sales expected to be flat to 2% higher and management believing that they will be at the lower end of that range. That's quite the contrast from high-flying Walmart, which is the company we covered in Magic Markets Premium this week.
If you are looking for high quality research reports on global stocks, you'll love Magic Markets Premium. For our subscribers, the investment of R99/month is the best investment they can make. |
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| IG Morning Call: daily macroeconomic update |
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| US benchmark indices extended gains overnight, as minutes from the last Federal Open Market Committee (FOMC) meeting set the stage for rates to start easing soon in the world’s largest economy. European index futures and Asian equity markets are trading firmer this morning as well, and we expect a positive start for the JSE All-Share Index.
The dollar has continued to soften against the majors, although has gained against a slightly softer rand. Better than expected domestic CPI inflation data does suggest that local rates are set to start easing shortly.
Oil prices have continued to track lower, finding impetus for direction on the prospect of increasing supply of the commodity as OPEC+ looks to ease output curbs.
Gold is marginally lower this morning, although still tracks close to all-time highs.
Traders will want to keep an eye out for manufacturing and services PMI data out of Europe and the US today.
Key Indicators: USD/ZAR R17.89/$ | US 10yr 3.79% | Gold $2,502/oz | Platinum $966/oz | Brent Crude $75.57
The macroeconomic update is based on IG's morning call update |
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