Load Shedding Update
- Milestone: 100 days of no load shedding by Thursday 4 July 2024.
- Factors: New capacity online, Kusile unit 5 (800 MW), upcoming additions from Medupi and Koeberg.
Impact:
- Reduced GDP loss (previously 1.8% of GDP due to load shedding).
- Positive effect on inflation and economic stability.
Winners:
- Retailers: Shoprite*, Pick n Pay, Spar (less expenditure on diesel).
- Manufacturers: Invicta, Hudaco (benefit from increased customer stability).
- Real Estate: REITs with shopping centers, reduced generator use.
Interest Rates
- Jerome Powell’s Speech: Potential for a single rate cut in November.
- Impact on Markets: Minimal immediate impact, with expectations already priced in.
- Local MPC Meetings: Predictions for rate changes on 19 September and 21 November.
Market Insights
- Mr Price*: Ex-dividend yet the stock price increased, indicating strong sector performance.
Tesla Analysis
- Market Share: Decline in second-quarter sales but maintains a significant market share (~50%).
Challenges:
- Increased competition from other EV manufacturers.
- Need for cheaper models.
- Significant share dilution over the years.
- Stock Performance: Historical highs and current rebound to 231.
- Future Prospects: Continued relevance in the EV market despite competition.
Tesla weekly chart | 02 July 2024
SARS Tax-Free Changes
RSA Retail Savings Bonds
- Rate Change: Significant drop in 5-year bond rate from 11.5% to 10.5%.
- Action Required: Reset by the 20th for current holders. The form is here.
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JSE – The JSE is a registered trademark of the JSE Limited.
JSE Direct is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.
