US Inflation:
- Core Inflation: Came in at 3.4%, lower than the expected 3.5% and previous 3.6%.
- Impact: Positive market reaction, with US Treasuries under pressure, Rand strengthening, and Dollar weakening.
- FOMC Outlook: Potential rate cuts anticipated towards the end of the year, possibly in November and December.
Company Results:
SPAR:
- Performance: Results were as expected, market responded positively.
- Issues: Challenges in Switzerland, discontinued operations in Poland, and ongoing SAP implementation issues.
Foschini Group:
- Performance: Strong results, market reacted favorably.
- Highlights: Good performance in their online platform Bash and general improvement across brands.
- Foschini Group and Clothing Retailers: Potential growth areas and resistance levels in stock prices.
Mr Price | Weekly close 12 June 2024
TFG | Weekly close 12 June 2024
Truworths | Weekly close 12 June 2024
Interesting Stock:
- Contemporary Amperex Technology Company Limited (CATL):
- Sector: Battery technology for EVs and corporate solutions.
- Market Performance: Positive analyst ratings, promising future prospects.
Renergen*:
- Helium Production: Helium is flowing, but further testing is required.
- Challenges: Significant delays and ongoing testing phases, but progress is being made.
Santova:
- Stock Movement: Changes in buyer and seller dynamics impacting stock price.
- Insights: Importance of identifying market movers in stock trading.
Political Developments:
- Coalition Talks: Ongoing with potential for an ANC, DA, IFP coalition.
- Rand Performance: Strengthening in response to political stability and positive US inflation data.
USDZAR | 12 June 2024
Simon Brown
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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.
