Tourism grinds higher

Good Morning Voornaam,

If you are very quick, you can still register for the fireside chat with TreasuryONE this morning at 9:30am at this link.

There's a new episode of Ghost Wrap for you, with the new twice-weekly format now well underway after the interruption of last week's public holiday. I covered Grindrod, Impala Platinum, Merafe, Resilient, NEPI Rockcastle, Santam and Sun International in this podcast, brought to you by Mazars.

Moving from single stocks to ETFs, expand your knowledge with Nico Katzke of Satrix and his latest piece on how styles can be factored into ETFs to make them a little more interesting. Read it here>>>

For a global perspective on a European semiconductor stock that you've likely never even heard of, listen to Craig Antonie of AnBro Capital Investments as our guest on the Magic Markets podcast. He talked about "Bessie" - the stock with a memorable nickname. Enjoy it here>>>

Is the sun shining on hospitality?

Sun International has released a trading statement and adjusted HEPS is probably the number to focus on, particularly if you look at the trend in that number over the pandemic. I decided that this was the perfect candidate for my chart of the day, with a fascinating through-the-cycle result. This is the best interim period that the company has reported in recent years, so things are finally looking up in tourism.

The really good numbers came in from NEPI Rockcastle though, with Central and Eastern Europe delivering strong growth in the property sector. How does a 24.8% increase in distributable earnings per share sound to you?

For these updates along with news from Advanced Health and a very awkward situation around Kibo Energy, read Ghost Bites here>>>

Still above R19.00

TreasuryONE notes that the dollar was flat yesterday, possibly awaiting the FOMC minutes from the July meeting. Mixed signals by Fed officials in recent weeks have created uncertainty over the interest rate outlook. Across the pond, Eurozone GDP growth figures came out in line with expectations.

The rand is still trading above the R19.00 handle as emerging market currencies remain vulnerable.

Have a great Thursday!

PS: if you want to attend the Money Summit at the Sandton Convention Centre on 14 September for free, simply use Ghost as the co de when registering at this link.

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