Pick n Pay* Chart Analysis
- Resistance zone around 26, potential to touch 26.70
- Higher highs, higher lows, horizontal resistance
- Target: 30 bucks to fill the gap
- Comments on Pick n Pay’s potential under Sean Summers
- No need for a rights issue, potential market spook if it happens
- Simon’s position: Started building, considering more
- Current status: Down 1.7%, trading at 25.30
Pick n Pay close 13Feb24 (daily)
Transaction Capital and WeBuyCars
- Transaction Capital planning to list WeBuyCars
- Unbundling process expected in March
- Valuation: 7.5 billion rand
- Key information: Founders’ put option on Transaction Capital is off the table
- WeBuyCar’s strong performance in January with a record 14,000 cars sold
- Market Cap of Transaction Capital: R6.5 billion
- Opportunities and challenges in SA Taxi business
- Overall assessment: Looking not too bad
- Current stock level: 850c
- Expectation of pro rata shares for Transaction Capital holders
- Timing details expected in the circular
Gold Price Movement
- Gold weaker despite US and UK inflation data
- Current gold price and chart analysis
- Simon’s position in Anglogold Ashanti*
- Observations on unexpected weakness in gold price after inflation data
Gold daily chart 14Feb24
Canal+ Offer for MultiChoice
- MultiChoice facing a 105 rand Canal+ offer
- Market sentiment: Canal+ likely to come back with a better offer
- Current stock price: 104.63
- Speculation on possible offer prices: 120, 135, or even 160
- Market confidence in Canal+ making a mandatory offer
Global Market Trends and Dollar Strength
- Dollar strength in global markets
- DXY trading at 104.87
- Money flowing into the US due to fear and concerns
- Impact on Rand: Trading at 19.07
- Market skepticism about inflation concerns
DXY (US$ index) 14Feb24 (daily chart)
Inflation Analysis
- Recent US and UK inflation data
- Market reaction to inflation numbers
- Central bank concerns about reaching inflation targets
- Jerome Powell’s cautious approach and potential rate cuts
- Local inflation expectations and potential rate cuts in South Africa
- The challenge of getting back to the inflation target
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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.
Thursdays are all about hard-core investing and trading with Simon Brown’s famous JSE Direct podcast. JSE Direct started life on ClassicFM in July 2008 and became a podcast in 2011. Every week Simon shares his views on the state of global economies, individual shares and events moving markets.
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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.
