The Finance Ghost
Ghost Bites
Ghost Bites (ADvTECH | Clientele | Fairvest | Harmony | Hulamin | Italtile | Momentum | Sasol)
Fairvest's capital raise is a sign of frothiness creeping back into the property sector. ADvTECH, Clientele and Momentum released excellent numbers. Sasol's debt reduction and free cash flow got the market excited. Harmony didn't capitalise on gold price opportunities. Italtile posted resilient numbers, while Hulamin's performance was poor.
Ghost Bites
Ghost Bites (Adcock Ingram | Gold Fields | Grindrod | Hulamin | MTN Zakhele Futhi)
Gold Fields is printing cash. Grindrod needs better numbers in Logistics. Hulamin needs better numbers everywhere. Adcock Ingram could delist later this year. MTN Zakhele Futhi estimates a residual value of R4 per share.
Dominique Olivier
The next space race is all in our heads
The next frontier isn’t space or AI - it’s the human brain. And it looks like we’re strapping in chips before we’ve even read the user manual. It's Musk vs. Altman in the fight for our minds, as explained by Dominique Olivier.
Ghost Bites
Ghost Bites (Aspen | Blue Label | Curro | Exxaro | Octodec | Spur | WBHO)
There's no sign of recovery in the Aspen share price. Conversely, Blue Label just keeps aiming for the stars. Exxaro, Spur, Octodec and WBHO all had positive stories. Curro is suffering with a slow and steady decline in numbers.
DealMakers
Who’s doing what this week in the South African M&A space?
Weekly summary of Merger & Acquisition activity by South African companies
DealMakers
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies
Ghost Bites
Ghost Bites (DRDGOLD | Equites Property Fund | Naspers – Prosus | Sabvest)
DRDGOLD is focusing on throughput more than yield. Equites Property Fund sold a large asset in the UK. The Naspers - Prosus growth story is firmly on track. Sabvest signed off on a great year.
Podcasts
PODCAST: No Ordinary Wednesday Ep107 | A pivot to lower interest rates in South Africa?
Inflation is at 3%. The Reserve Bank wants to lock it there. Interest rates are edging down. But the bigger picture is far from settled, as discussed by Jeremy Maggs with Investec Chief Economist Annabel Bishop. Just what does South Africa's macroeconomic policy mean for all of us?
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