Market update: currencies and commodities
Unlock the Stock: Afrimat and Spear REIT
Afrimat’s track record is spectacular. Spear REIT is a highly respected property fund. On Unlock the Stock, you can learn about both companies.
RCL is far more than just a chicken business
RCL is far more than just a chicken business these days, which isn’t a bad thing.
Bidvest: strong trading profit growth in every division
Bidvest closed 3.8% higher after releasing results for the six months to December 2021.
Liberty Two Degrees: reversions continue to bite
Liberty Two Degrees holds stakes in some of the most iconic properties in the country
Alviva: 20% revenue growth excl. Tarsus
After teasing the market with a trading statement, Alviva has now released all the details of the interim results for the six months ended December 2021.
PSG Group and the Great Value Unlock
This is one of the biggest news stories on the JSE that we’ve seen in a while
JSE Limited: a cash cow in a shrinking field
You may not be aware of this, but the JSE Limited is listed on the JSE. You’re right in thinking that this sounds like the financial version of the movie Inception
Capital Appreciation on the deal train
The company has announced the acquisitions of three technology companies in South Africa and a 20% stake in a company in the Netherlands.
Woolworths won’t miss 2021
as released results for the 26 weeks to 26 December 2021. The share price rallied 6% despite a fair share of negative commentary on Twitter.
Cashbuild’s negative sales momentum continues
Cashbuild released its interim results for the six months ended 26 December 2021
Rand update
Some very poor economic data out of China saw EM markets weaken to the Far East this morning, with the rand taking the biggest hit. Chinese retail sales for April fell by 11.1% vs. estimates of a 6.1% drop, while industrial production dropped by 2.9% vs. estimates of a 1.4% increase. The Covid-driven lockdowns also saw Chinese unemployment rise to 6.7% in April.
The rand, which had closed at R16.15 on Friday, weakened to R16.27 levels this morning on the back of the Chinese data but has managed to recover some of the losses and is currently quoted at R16.22. The R16.30 level has been tested on five occasions now and is still holding.
Commodity update
Gold and Platinum both closed softer on Friday, while Palladium ended 1.9% stronger. We start the new week with Gold slightly softer at $1,807, but Platinum and Palladium are both trading firmer at $941 and $1,955, respectively. The price of Oil has fallen this morning, with both Brent and WTI down 2.0% at $109.50 and $108.60, respectively.
International update
There was a pause in the dollar’s advance on Friday, and we saw both the euro and pound end marginally higher. Global geopolitical tensions and global growth concerns are underpinning the dollar as Sweden, and Finland’s NATO plans have seen Russia threaten retaliation.
The DXY index is sitting at 104.59 this morning, with the dollar trading at 1.0406 against the euro and at 1.2246 against the pound. US Treasury yields ended a touch higher on Friday, while Wall Street had a strong close to the week. The S&P was 2.39% stronger, the Nasdaq climbed by 3.82%, and the Dow was 1.47% higher. US futures, along with Asian markets, have started the new week in negative territory.
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