In this landmark 600th episode of JSE Direct, Simon Brown reflects on the podcast’s journey from its beginnings as a radio show in 2008 to becoming a leading podcast for market insights. The episode covers a range of topics, from South Africa’s local CPI and a strengthening Rand to the surprising twists in the gold market and a mixed bag of corporate earnings.
Local Inflation Data:
South Africa’s CPI has come in better than expected at 4.6%, fueling speculation on whether the next rate cut by the MPC might be more aggressive than anticipated.
South Africa CPI | July 2024
Rand Strengthens:
The Rand has shown significant strength, dropping below 18 to the dollar, with Simon analyzing the contributing factors, including foreign investment in bonds and a weakening US dollar.
Bull Market Sentiment:
Simon reaffirms the current bull market, highlighting the JSE’s all-time highs and advising listeners to stay invested while cautioning against the risks of sitting on the sidelines.
Top40 20 August 2024 | Weekly chart
Gold Market Rally:
Gold prices have surged above $2,500, driven by central banks’ increased purchases and concerns about the US dollar’s stability. Simon discusses the potential for further gains in the gold market.
Corporate Earnings Recap:
- Coronation Fund Managers: Special dividend announced but falls short of expectations.
- CMH*: Despite low liquidity, the stock continues to climb, reflecting the breadth of the bull market.
- Sasol: Disappointing results with no dividend payout, a situation Simon had previously predicted.
- Spur Corporation: Strong earnings, signaling improving economic conditions.
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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.
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.
