Jerome Powell’s Statement:
- Rates left unchanged in the US.
- Possible rate cuts on the table for September.
- US MPC meeting on 19 September.
- Data needed: improving inflation and higher unemployment.
Oil and Gold Market Update:
- Brent Crude:
- Under pressure, signaling weak global demand.
- Lower highs trend since June 2022.
- Support at $72.50 and resistance around $88.
-
Brent Oil | 01 August 2024
Gold:
- Trading near all-time highs.
- Strong central bank buying.
- Uncertain targets, but bullish sentiment persists.
Gold | 01 August 2024
Potential JSE Delistings:
- Criteria: Dividend yield > 0, market cap < 5 billion ZAR, NAV price > 100, P/E < 10, and profitable.
- Initial search yielded 53 stocks, refined criteria (dividend yield > 5%) narrowed it down to 25.
- Top candidates: African Media Entertainment, Argent, Combined Motor Holdings*, eMedia, Frontier Transport, Home Choice, Mustek, PrimeServe, Transpaco.
Shoprite*:
- Trading at all-time highs.
- 12% revenue increase, 6.3% like-for-like growth, 5.8% inflation.
- Successful new store formats (PetScience, Checkers Outdoor, UNIQ Clothing, Little Me).
Woolies:
- Disappointing trading statement.
- Comparable store sales up 6.9%, inflation at 7%, volume decline.
- Heps down 14-19%, market expectation miss.
RSA Retail Bonds Update:
- New Rates: Two-year at 8.75%, three-year at 9%, five-year at 10.25%.
- Rates have been declining since June.
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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.
