IMF statement as they downgrade global growth for 2022 and 2023 (fourth time this year they’ve downgraded).
“2023 will feel like a recession” and “the worst is still to come.”.
They said the same in December 2008 and markets bottomed three months later. Markets are forward-looking.
Simon Shares
- Offer by Sanlam (JSE code: SLM) to acquire control of Afrocentric (JSE code: ACT). They will leave the stock listed and with an offer at 600c gives an indication of where Sanlam sees value.
- BoE back buying UK bonds, including index-linked. Thirty-year gilts back at 5%. But it ends on Friday 14th?
- OPEC+ cuts 2million barrels per day of production.
- Transnet strike hurting mining exporters and importers.
- Musk says he will be buying Twitter (NYSE code: TWTR), mostly because he’ll lose in court every time. But he has a possible problem with raising the money after spending the last four or five months saying Twitter is trash. Who will want to invest alongside him, after the tech sell-off he is wildly overpaying?
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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.
JSE Direct Podcast
Thursdays are all about hard-core investing 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 chats to industry experts, answers listener question (contact him here to send your Q’s) and gives his views on the state of markets and individual shares.
Reach Simon by email at simon@justonelap.com,
or Twitter @SimonPB