Thungela earnings
Good morning {{first_name}},
I hope that you had a wonderful long weekend and celebrated the special women in your life!
Before we all got to enjoy an icy cold Monday off, the market gave us a few things to chew on. Thungela’s earnings are the most interesting, with the latest numbers and the share price chart being worlds apart. At Spur, there’s a legal provision that shareholders must stomach. Along with various other updates, you can get the latest in Ghost Bites.
I’ve also got a new YouTube video out. I cover the numbers from JSE Limited, Nedbank and Pick n Pay, as well as more detail on the Spur issue noted above. You can find it here - and please remember to show some love by hitting the subscribe button (or at least leaving a comment). It actually really helps other people find my work.
If you haven’t checked it out yet, then I highly recommend my podcast with Reza Fakie of Old Mutual Investment Group. He gives us wonderful insight into life as a quantitative portfolio manager in the pursuit of alpha - or returns in excess of the market. You can listen to it (or read the transcript) at this link.
I’ve included the results of the latest poll below as well, with the market clearly divided on the underlying helium story at ASP Isotopes.
Have a great day!
Ghost Bites - making sense of SENS
MTN Uganda's results require a careful read
Schroder European Real Estate prepares for a "managed wind-down"
Spur shareholders must stomach a R129.5 million legal provision
Thungela's earnings and share price chart are world's apart
For the entrepreneurs among you, my podcast series with Capitec is hugely valuable. In the latest episode of The Finance Ghost plugged in with Capitec, I spoke to Maurice van Heerden of Planetworld.
His approach is simple: entrepreneurship without excuses. Build a high performance team and the rest will fall into place.
His track record certainly supports this claim. You can enjoy his story here.
More ways to learn and grow
Investing in AI’s next chapter
From from conferences in Boston and San Fran, Investec analysts David Smith and Zane Bezuidenhout are in conversation with Jeremy Maggs about the future of AI. Get ready to learn about what investors should be watching next.
Putting performance in context
If you can’t choose the right benchmark, you also can’t measure your performance. This is a complex subject, requiring an understanding of the underlying assets and their risk profile. Siyabulela Nomoyi of Satrix joined me to unpack these concepts.
Global markets update with Shaun Murison
Major US indices softened overnight while oil prices rallied 5%, as markets continue to assess the outlook for Federal Reserve interest rates alongside the uncertain probability of a deal between the US and Iran to reopen the Strait of Hormuz.
Iran has said that a deal with Oman over the Strait of Hormuz is in its final stages, although the reopening rests on the United States meeting other conditions, including compensation and an end to sanctions and military threats.
Friday's weaker than expected US jobs report softened the dollar, helping lift gold prices. The greenback has ticked up marginally this morning although it remains near short term lows. Markets will look to this week's US inflation print to further assess the monetary policy outlook for 2026.
Asian equity markets are flat to lower this morning.
The rand is slightly softer in early trade and we are expecting a negative open for the JSE all share index.
This update is provided by Shaun Murison, Senior Market Analyst at randswiss.com. Connect with him on LinkedIn here and follow him on X here.
Key Indicators:
USD/ZAR R16.24/$ | US 10yr 4.72% | Gold $4,365/oz | Platinum $1,749/oz | Brent Crude $89.04