There's an easy way to stay on top of the biggest JSE stories that takes fewer than 10 minutes per week. The Ghost Wrap podcast is brought to you by Mazars and is designed for busy people. In the latest episode, I covered the recent news from Absa, RCL Foods, Metair, York Timber, Nampak, EOH, Bell Equipment and Barloworld. Listen to it here and add it to your weekly playlist.
While you've got the ol' headphones on, take the opportunity to learn about how Westbrooke Alternative Asset Management is playing in the solar investment space. The concept of a "capital stack" is relevant here, as there are many ways to provide capital to projects. Enhance your investment knowledge with this episode of the Magic Markets podcast>>>
And to close off on Magic Markets, I would like to remind you that just R99/month gets you access to an exceptional library of research on international stocks that now includes around 75 reports and podcasts. Together with highly experienced finance professional Mohammed Nalla, I'm proud to bring this level of research to the market at a price that retail investors can afford. We cover a wide variety of companies in Magic Markets Premium, with recent examples ranging from Spotify to Winnebago! This week, we cover Ulta Beauty, America's leading specialist beauty retailer. If you are serious about growing your business and investing knowledge, subscribe here>>>
Throwing investors a Rathbone
After a journey in the UK that can best be described as having mixed fortunes, Investec has decided to merge its Wealth & Investment business with Rathbones. This will see Rathbones issue shares in exchange for the business, giving Investec an economic interest of 41.25% in the merged entity. Most importantly, this creates the UK's leading discretionary wealth manager with GBP100 billion in funds under management and administration.
Other major news yesterday included Nampak's refinancing of its debt structure, which will necessitate a rights offer to get across the line. The hike in finance costs is so severe that even Jerome Powell would feel mildly embarrassed. The announcement came out after the market closed, so watch the price action in Nampak this morning.
There were also updates from Anglo American, Murray & Roberts, NEPI Rockcastle and Oceana. For these and more, read Ghost Bites>>>
More weak US data
US job openings in February dropped to the lowest level in two years, suggesting that the labour market is cooling. Along with the PMI release, we have more evidence that the US is slipping. As TreasuryONE reminds us, the non-farm payroll number is due on Friday and that will give us significant insight into the trend here.
Although the dollar slipped against the euro, the rand didn't benefit from the dollar weakness. We are stuck in the R17.80 to R18.00 range thanks to the risk premium currently attached to our currency.
The oil price is also a major focus area, with the data out of the US causing the price of oil to stall. This comes after a huge rally the prior day in response to news of production cuts.
The winner from the US data release was gold, rallying $40 to trade above $2,000 an ounce again.
Learn about listed companies and solar investing
There's never a shortage of learning opportunities in Ghost Mail. Here are a few more:
- Watch the recent Unlock the Stock recordings with either PPC or CA Sales Holdings, as the management teams updated us on the businesses and participated in a Q&A session.
- Register to attend a webinar from Jaltech explaining the s12B tax-deductible solar investment opportunities available to investors.
- Read this piece from OrbVest on medical real estate trends in the US, including information on the group's latest property investment opportunity in that market.
- Read this article I wrote for EasyEquities covering investment holding companies and touching on the importance of looking beyond the household names.
With that, I wish you a productive and enjoyable Wednesday!
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