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Weekly Share Talk 11 December 2017

Private Clients | 11/12/2017

Corporate governance came to the fore on the JSE this week with the shares of one the country’s biggest companies on the TOP40 falling by almost 90%. Steinhoff International dragged the All Share lower as negative developments related to the investigation into possible accounting fraud in the company, weighed on investor sentiment. 

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Weekly Share talk 04 December 2017

Private Clients | 04/12/2017

Local markets closed in the red as Naspers shares declined by 6.1% on the back of Tencent’s poor performance in the week. Tencent followed the trend of other tech stocks globally as investors moved away from tech to companies that were most likely to benefit from the proposed U.S tax bill. 

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Weekly Share talk 27 November 2017

Private Clients | 27/11/2017

The All Share ended the week marginally higher at 0.04% in line with other major global markets and had a positive weekly gain of 0.33%. Retailers were the best major performing index gaining 3.97%, with recently listed Stadio Holdings Limited rising the most by 17.29%. The RESI rose by 2.87% for the week with Impala Platinum being the top performer gaining 21.10% for the same period. 

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Weekly Share talk 20 November 2017

Private Clients | 20/11/2017

The All Share had weekly gains of 0.59% supported by a surge in industrials. The index started the week in the red, dragged down by resources as China’s industrial production missed market expectations affecting mining and energy stocks globally. The data raised concerns on whether the Chinese economy will be able to keep up demand for commodities. 

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Weekly Share talk 13 November 2017

Private Clients | 13/11/2017

The All Share started the week on a good note but there was a downward turn in investor sentiments towards the end of the week, which erased some of those gains. The index had weekly gains of 0.23%. Resources had a good week, posting weekly gains of 2.46% supported by a surge in base metals and a solid performance in platinum.

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Weekly Sharetalk 30 October 2017

Private Clients | 30/10/2017

The All Share ended the week in the green as it followed global markets. The rand significantly weakened against the dollar, shedding 3.25% for the week, after Minister of Finance Malusi Gigaba’s mid-term budget speech on Wednesday.

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Weekly Share Talk 23 October 2017

Private Clients | 23/10/2017

The local market ended the week higher on Friday, lifted by rand hedges, as the rand lost ground to the dollar. The US Dollar gained strength, following the Senate passing a budget blueprint, paving the way for the tax cuts. The rand weakened against the firmer dollar after the tax cut news, down 1.3% trading at R13.66/$.

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Weekly Sharetalk 16 October 2017

Private Clients | 16/10/2017

The All Share followed global markets higher, gaining 1.13% for the week. The rand significantly strengthened against the dollar in the week, moving from lows of R13.74 to R13.26 against the greenback, gaining 3.62% for the week. Financials and general retailers ended the week in the green as they received support from rand strength, they had weekly gains of 3.33% and 5.86% respectively. .

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Week Sharetalk 09 October 2017

Private Clients | 09/10/2017

The local market ended the week higher lifted by rand hedges, as the rand lost ground to the dollar. The rand weakened 0.45% trading at R13.74 against the dollar on Friday. The dollar was firmer despite the September US jobs report, with non-farm payrolls coming in significantly lower than expected. 

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Weekly Share Talk 26 September 2017

Private Clients | 26/09/2017

The local markets ended the week softer on Friday amid risk-off sentiment sparked by tension on the Korean peninsula. The All Share Index closed 0.05% lower on Friday, but was up 0.35% for the week, whilst The Top 40 gained 0.03% on the day, with an overall weekly gain of 0.59%. The rand was firmer on Friday, tracking the Euro, as geopolitical tension put pressure on the dollar. 

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Weekly Share talk 18 September 2017

Private Clients | 18/09/2017

The All Share ended the week 0.14% lower as investors globally continued with the risk-off trade. The slow down in the Chinese economy added to the woes as base and precious metals were under pressure. The Top40 remained unchanged for the week. Resources shed 0.54% for the week as diversified miners were under pressure following from global markets. 

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Weekly Share talk 11 September 2017

Private Clients | 11/09/2017

The All Share closed 1.4% lower, with financials coming off more than 2% as the Rand strengthened in the week. Resources were not spared as they lost 1.66%, with gold stocks the only real shining light. This is on the back of a higher gold price as global anxiety over North Korea’s nuclear plans persists. Retail stocks also came under pressure as they dropped by 2.79%, with the index reaching a one month low on Thursday.

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Weekly Share talk 04 September 2017

Private Clients | 04/09/2017

The All Share was under pressure for most of the week as the rand continued to strengthen against the greenback affecting rand-hedges. Increased geopolitical risks between the US and North Korea added to the woes of the index, after North Korea fired a Ballistic missile over Japan. The All Share shed 0.36% for the week and Industrials were 1.07% lower for the week as two heavy weighted shares, British American Tobacco and Naspers were soft pulling the index lower. 

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Weekly Sharetalk 28 August 2017

Private Clients | 28/08/2017

The JSE All Share reached a record high this week as the proliferation of company results got market participants buzzing. The index returned 2.44% to investors for the week with resources being one of the best performing major indices. Markets also reacted to scandals and a shareholder revolt during the week. 

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Weekly Share talk 21 August 2017

Private Clients | 21/08/2017

The All Share finished in the red on Friday, shedding off some of the weekly gains to end the week up 0.33%. Financials were up 0.23%, on the back of rand strength, which strengthened 2.36% for the week against the greenback. Towards end of week, the Chinese stock Tencent supported a rally in JSE heavy-weight Naspers after it released strong second quarter results, beating all analyst esti-mates, helping Naspers to finish the week 4.9% higher. 

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Weekly Sharetalk 14 August 2017

Private Clients | 14/08/2017

Top 40 extended losses in late trade on Friday, joining global market amid the global technology stock meltdown. Technology stocks in particular took a hit during the US session. 

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Week Sharetalk 07 August 2017

Private Clients | 07/08/2017

The All Share had a stellar week reaching 4 record highs, with the last on Friday. A weaker rand bolstered rand-hedge stocks. Financials rose 2.33% starting August positively after a strong July. Resources gained the most amongst the major local indices as they rose 3.03%. 

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Week Sharetalk 31 July 2017

Private Clients | 31/07/2017

South African equities were mostly in the green last week, even though there was a slight retreat on Friday following global markets. The All share ended 1.33% higher and the Top40 was 1.57% higher for the week. Resources were up 6.54% for the week boosted by a rally in commodity prices and positive company results. 

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Weekly Share talk 24 July 2017

Private Clients | 24/07/2017

The All Share ended the week 1.25% higher, firming for the fifth consecutive week, fuelled by local and international factors. Platinum and gold stocks enjoyed relatively decent support, as did some industrial stocks, including MTN and Vodacom who released trading and operational updates respectively. 

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Week Sharetalk 17 July 2017

Private Clients | 17/07/2017

South African markets ended the week stronger. The All Share Index gained 3.27% for the week, in spite of the stronger rand. The rand gained 2.65% for the week, trading at R13.04 against the US Dollar on Friday. The firmer Rand came on the back of disappointing US economic data and the policy commentary from US Feder-al reserve that caused the Dollar to lose ground. US consumer price inflation slowed to 1.6% in June from 1.9% in May. 

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Week Sharetalk 10 July 2017

Private Clients | 10/07/2017

The All share index was up 0.56% for the week, with Net 1 UEPS and BHP Billiton leading gains. Financials were up 0.32%, even though the rand weakened to R13.44 against the dollar and finished the week at R13.43. Industrials were 0.46% lower for the week, brought down by Naspers which is significantly under pressure as Tencent has underperformed after a sell-off in global tech companies. 

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Week Sharetalk 03 July 2017

Private Clients | 03/07/2017

Resources were in major focus in the week as global commodity prices increased and the Rand depreciated. The RESI gained 4.45% with diversified miners gaining the most. The iron ore and oil price gained significantly over the week. Iron ore increased to levels last seen more than a month ago assisting Kumba iron ore to gain by a substantial 17.26%. Oil traded higher after U.S. shale explorers paused record drilling expansion. 

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Week Share talk 26 June 2017

Private Clients | 26/06/2017

South African markets had a fairly volatile week following the continued unstable local political landscape. The All-share index closed up 0.84% on Friday, with an overall five day gain of 1.32%. Naspers’ annual results, which were released on Friday, bolstered the All-share, with the share gaining a total of 5.63% for the week. 

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Weekly Sharetalk 19 June 2017

Private Clients | 19/06/2017

The negative performance of technology stocks internationally did not spare our markets, as industrials slid on Monday with Naspers leading laggards. Industrials had a disappointing week as they lost 2.67%, which happened to be the same loss as the TOP40. Resources also garnered negative weekly returns with gold miners having a disappointing week. The gold index fell by 6.78% with the gold price trending lower. 

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Week Sharetalk 12 June 2017

Private Clients | 12/06/2017

The All Share Index ended the week 1.27% lower, with Datatec being the best performer up 12.52% and Brait SE being the worst performer as New Look reported full year losses. Resources were 1.22% up for the week, with Sibanye Gold up 10.74% for the week, leading the group after credit rating agencies endorsed the company’s business model and the new acquisition. 

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Week Sharetalk 05 June 2017

Private Clients | 05/06/2017

The All Share ended 2.05% lower on the week, with mining shares, industrials, as well as financials falling sharply before stabilising on Friday. Mining shares declined due to a drop in commodity prices. Iron ore and Brent crude hovered around $58 a tonne and $49 a barrel respectively late on Friday. 

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Weekly Sharetalk 29 May 2017

Private Clients | 29/05/2017

Local markets closed the week lower as Rand strength drove resources lower and hurt a number of Rand hedge stocks. Two major news stories that affected the Rand this week was the news that there may be talks of the removal of Jacob Zuma in the ANC NEC meeting over the weekend and the effects of dollar weakness on the back of the U.S Fed minutes released on Wednesday. Industrial stocks and retailers also came off this week, falling by 0.09% and 1.72%, respectively.
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Weekly Sharetalk 22 May 2017

Private Clients | 22/05/2017

The All Share ended the week higher firming 0.67%, powered by the Industrial 25 index which came within striking distance of its record high. The rand also staged a strong come back on Friday, hitting highs of R13.21/$ from lows of R13.59/$ earlier in the week. 

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Weekly Sharetalk 08 May 2017

Private Clients | 08/05/2017

South African markets followed global markets with the All Share index up 0.32% on Friday, but with an overall loss of 0.44% for the week. The market was lifted by the rand hedges and the recovery of the Resources sector. It was a volatile week for commodities.

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Weekly Share Talk - 02 May 2017

Private Clients | 02/05/2017

Local markets followed international markets higher with positive returns on most major local indices. The Industrial index touched its highest level in a month as Mediclinic International’s share price rally helped the index increase by 3.78%. Financial shares also gained as the rand declined during the week which boosted rand hedge stocks. Resource shares performed modestly amidst declines in gold and platinum prices, but fared better than the previous week.

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Weekly ShareTalk 24 April 2017

Private Clients | 24/04/2017

The All Share closed off a disappointing week, with the index shedding 2.53%. A firmer rand weighed down heavily on resource stocks and rand hedges. The best performer was Dis-Chem, with gains of 7.62% and the worst was Harmony Gold, sliding 16.65%. The RESI was down 4.76% and Financials lost 1.26%.

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Weekly Sharetalk 18 April 2017

Private Clients | 18/04/2017

SA markets ended the shortened week broadly higher ending up 1.12%, and continuing to recover from the political storm that followed the cabinet reshuffle. Most notably, the banks bounced back 6% to end a three week decline although they remain largely in the red on a 1 month basis. 

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Weekly Sharetalk 10 April 2017

Private Clients | 10/04/2017

Following the unexpected decision by the country’s President to dismiss the Finance Minister, the rand continued to decline with the local currency reaching a low of R13.94/$. This was exacerbated by Standard & Poor’s subsequently downgrading various local banks to junk to fall in line with its rating of the sovereign which it downgraded on Monday. 

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Week Sharetalk 03 April 2017

Private Clients | 03/04/2017

South African markets ended the week lower after President Jacob Zuma reshuffled the cabinet, axing the Finance Minister Pravin Gordhan, and replacing him with the former Home Affairs Minister Malusi Gigaba. The cabinet changes raised concerns about the country’s fiscal path and credit ratings. The rand tumbled 8% from R12.33 to R13.56 / US dollar. This was the biggest drop since December 2015, the worst performance among 104 currencies. 

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Weekly Share Talk - 27 March 2017

Private Clients | 27/03/2017

SA markets had a fairly flat week due to the strong rand and uncertainty in global markets. The All-share index ended 1.77% lower. Gold reversed last week’s loss by gaining 1.16%, platinum decreased by 0.03% and oil shed 1.85%. The CPI number came out better than expected for February at 6.3% from 6.6% the previous month. The rand strengthened following a boost from a narrow current account deficit. The current account deficit for Q4 declined to 1.7% compared to 4.1% in Q3.

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Weekly Share Talk - 06 March 2017

Private Clients | 06/03/2017

South African markets had a fairly volatile week due to stronger expectations of an imminent interest rate hike by the US Federal Reserve. The All-share index ended the week 0.36% lower. Gold and platinum stocks were hammered as the metals retreated on the stronger dollar. Platinum was the biggest loser down 3.48%, followed by Gold which shed 1.54%. The banks finished the week positively with the boost of Nedbank up 6.5% and Standard Bank up by 9.52%.

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Investment Monthly February 2017

Private Clients | 01/03/2017

In this edition we review the SA equity market performance for February 2017.

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Weekly Share Talk - 28 February 2017

Private Clients | 28/02/2017

The ALSI ended the week 1.81% lower, dragged down by resources which were down 5.18% as companies reported lacklustre numbers. Financials and Industrials also ended the week weaker, 0.16% and 1.26% respectively. News of select SA banks colluding to fix the rand continue to weigh on the banking sector. Commodity prices were still at their highs but remain volatile.

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Weekly Share Talk - 20 February 2017

Private Clients | 20/02/2017

South African markets declined 0.88% fo rteh week, as the stronger rand took the shine off offshore stocks. The rand touched R12.90/$ for the first time since August 2015, holding back some industrial and resource shares, which declined 1.46% and 2.65% respectively. Banking stocks managed to keep above water despite the Competition Commission finding evidence of collusion between some of the banks. Consumer prices in SA rose 6.6% YoY, below market expectations.

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Weekly Share Talk - 13 February 2017

Private Clients | 13/02/2017

The All Share gained a marginal 0.81% in a week where major global markets had a positive performance amid economic data releases, Trump policies and increased commodity prices. The local bourse started the week with losses as US and European markets underperformed. However, Trump’s promise of a new tax plan and better than expected Chinese export data helped the local market reach its largest one-day gain in 2017, coming in at 1.51% on Friday.

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Weekly Share Talk - 6 February 2017

Private Clients | 06/02/2017

The All Share followed global markets lower as concerns grow surrounding the effects of Donald Trump’s protectionist policies. Risk-off trade was evident throughout the week, with gold stocks leading the gains rising 6.47%. Global miners BHP Billiton and Glencore were under pressure following a slide in industrial metals. Financials slumped 2.09% whilst currency markets were volatile as central banks and economic data were released. 

 

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Weekly Share Talk - 23 January 2017

Private Clients | 23/01/2017

Cautious trading dominated local markets this week, as international events were drivers of most market sentiment. The TOP40 lost 0.62%, while the All Share slid 0.5%. Resources were one of the few indices giving positive returns with gold shares shining. The gold price rose as safe-haven demand increased, given events of the past week, particularly Donald Trump’s inauguration. Retailers also gave investors positive returns, albeit positive returns.

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Weekly Share Talk - 16 January 2017

Private Clients | 16/01/2017

The All Share ended the week higher as trading volumes post the festive break resumed. Retailers were at the forefront of the headlines with trading updates for the 4th quarter of 2016. The All share rose 4.2%, Industrials and Resources gained 4.24% and 6.54% respectively. Richemont posted relatively strong sales figures compared to expectations bolstered by strong growth in the Asia-Pacific region. Diversified miners were strong performers supported by rising industrial metal prices.

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Weekly Share Talk - 9 January 2017

Private Clients | 09/01/2017

The All Share followed global markets, firming 1.05% for the first week of the year. Resources gained a solid 1.87%, with platinum shares; Lonmin, Northam and Impala Holdings seeing returns of 27.18%, 12.94% and 11.19% respectively. Their performance was amid an equally stellar performance of precious metals which gained 7.21%. Palladium also rallied and was the best-performing precious metal last year, rising 20% for its biggest annual gain in six years. 

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Weekly Share Talk - 12 December 2016

Private Clients | 12/12/2016

The All Share followed global markets higher, recording it’s best weekly gain in nearly five months. Steinhoff posted strong quarterly results while Sibanye Gold was the weakest performer following the announcement of a $2.2bn acquisition of a US platinum miner and a possible rights issue in 2017. The rally in the currency was halted by the European Central Bank announcing an extension to it’s quantitative easing, which led to a reversal in the Rand’s gains. 

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Weekly Sharetalk - 5 December 2016

Private Clients | 05/12/2016

The ALSI was 2.84% lower over a five day period, while the Top 40 was 3.14% lower. The local market was driven by speculation of a possible downgrade by rat-ing agency Standard & Poor’s, a turbulent US Bond Market, uncertainty over the key deployments that US President elect Donald Trump will make, as well as how he seeks to change US trade policies.

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Weekly Share Talk - 28 November 2016

Private Clients | 28/11/2016

The JSE edged slightly higher last week, despite the possibility of a rate cut and US holidays constraining trading throughout the week. The All Share closed 0.14% higher, while the TOP 40 finished 0.02% lower. The SARB kept repo rates unchanged at 7% and the prime lending rate at 10.5%. This marks the 3rd MPC meeting where rates were kept constant, a unanimous decision informed by the banks expectation that inflation levels will remain to the upside of 3%-6% target range .

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Weekly Share Talk - 21 November 2016

Private Clients | 21/11/2016

The All Share ended higher, firming 0.66% after a volatile week dominated by off-shore markets. The rand slid to lows of R14.63/$ on Friday, its weakest since mid-September, before bouncing back to R14.38/$. The rand volatility is likely to concern the Reserve Bank’s monetary policy committee on the interest rate decision this week. Retail sales grew 1.4%, beating market expectations of a 1% increase. Sales were mainly boosted by food, beverages, tobacco and pharmaceuticals. 

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Weekly Share Talk - 14 November 2016

Private Clients | 14/11/2016

The All Share ended the week higher in volatile trade as a result of the uncertainty surrounding the US presidential elections. Following Donald Trump’s surprise victory, emerging market currencies and bonds were under pressure with the Rand tumbling more than 6% in risk off trade. The All Share ended up 1.22% supported by global miners rallying on the back of strong industrial metal prices. 

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Investment Monthly - October 2016

Private Clients | 01/11/2016

In this edition we review the SA equity market performance for October 2016. 

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Weekly Share Talk - 31 October 2016

Private Clients | 31/10/2016

The JSE All Share and TOP 40 lost 1.61% and 1.69% respectively, in a week dominated by low volume trade. Local markets took their cue from most global markets which had an unimpressive week on the back of statements of possible monetary policy tightening, risk-off sentiments ahead of the U.S election and a decline in the oil price. Other local indices that fared poorly were the FINI15 which came off 0.99%, as the Rand strengthened against most major currencies. 

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Weekly Share Talk - 24 October 2016

Private Clients | 24/10/2016

The All Share trended higher during the week firming 1.69%. Resources and banks led the gains with the latter boosted by optimism that Pravin Gordhan would retain his post even though he is due to appear in court next month. South African inflation rose 6.1% YoY, below market expectations of 6.2%. This is the highest figure since June as cost of transport went up at a faster pace. On a monthly basis, consumer prices expanded by 0.2%.

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Weekly Share Talk - 17 October 2016

Private Clients | 17/10/2016

The All Share ended the week lower as political uncertainty surrounding the finance minister Pravin Gordhan returned to the news. The All Share ended 1% lower as the Rand depreciated more than 3% following reports that the National Prosecuting Authority charged the finance minister with fraud. The Rand collapsed from R13.73 against the dollar to highs of R14.50. Financials felt the brunt of the charges on returning concerns regarding the sovereign ratings downgrade to junk status. 

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Weekly Share Talk - 10 October 2016

Private Clients | 11/10/2016

The JSE closed flat on Friday after US nonfarm payrolls data was not clear cut enough to warrant market confidence in a US rate rise in December. Nonfarm payrolls rose by 156k in September, down from a revised 167k jobs in August and lower than the expected 175k. The All Share index closed up at 0,10% with banks increasing by 0,95% and industrials up by 0,20%. Sasol was 1,53% higher due to the stronger brent crude price which exceeded a $50 barrel mark.

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Weekly Share Talk - 3 October 2016

Private Clients | 03/10/2016

The JSE closed weaker on the back of uncertainty about Deutsche Bank and the volatile oil prices, which affected market confidence and led to a 1.42% decline in the All Share Index while the JSE Top 40 dropped 1.45%. The Gold index was 3.55% higher as investors rushed to gold as a safe haven.  The JSE announced that Impala Platinum will replace SABMiller in the Top 40 index as the brewer is set to be delisted, the reshuffle also sees AVI Ltd replacing SAB in the Industrial25 index.

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Weekly Share Talk - 26 September 2016

Private Clients | 26/09/2016

The JSE edged slightly higher last week spurred by the decision from both the Fed and SARB to keep interest rates unchanged, and a change in monetary policy by the Bank of Japan. This led to a rally in commodities that saw risk on trades across markets. The All Share Index closed 0.32% higher for the week on Friday and the Top 40 was 0.02% higher.

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Weekly Share Talk - 19 September 2016

Private Clients | 19/09/2016

The JSE All Share and blue chip Top 40 each lost 1.84% and 1.87% respectively, in a week dominated by global uncertainty as to how much longer major central banks around the world would continue with expansionary policies. There have been mixed messages coming from the U.S Fed regard-ing rate policy direction. The latest CME Group Fed Watch tool showed futures traders are pricing in a 12% chance of a rate increase this month. 

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Weekly Share Talk - 12 September 2016

Private Clients | 12/09/2016

The All Share followed global markets lower, sliding 0.29% for the week. It was a volatile week for the rand, with both global and domestic influences exposing the vulnerability of the local currency. The rand looked likely to break the R13.80/$ barrier before it slid 2% to R14.44/$ following comments from the U.S Fed about an interest rate hike. The economy advanced an annualized 3.3% QoQ recovering from 1.2% decrease in the previous period, beating market expectations.

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Weekly Share Talk - 5 September 2016

Private Clients | 05/09/2016

The All Share ended a volatile week relatively flat as the markets awaited US employment data released on Friday. General retailers and gold miners were the biggest laggards for the week falling 8.2% and 6.52% respectively. Retailers have been plagued with weak results over the past two weeks while resources were mixed with gold miners tumbling (-6.52%) on the back of a stronger dollar. Contrastingly, platinum miners (+4.02%) were the star performers for the week.

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Investment Monthly August 2016

Private Clients | 01/09/2016

In this edition we review the SA equity market performance for August and focus on the year-to-date performance of general and food reatilers.

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Weekly Share Talk - 29 August 2016

Private Clients | 29/08/2016

The JSE All Share index ended the week up 1.39% despite pressure on the FIN15 which was down 2.67%. Trading was cautious ahead of the US Federal Reserve’s Jackson hole Symposium and following renewed politico-legal concern over the Hawk’s investigation of Finance Minister Pravin Gordhan’s involvement in the so called SARS “rogue” unit. The rand plunged to three week lows and remained under pressure with the dollar strengthening.

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Weekly Share Talk - 22 August 2016

Private Clients | 22/08/2016

The JSE All Share closed lower across the board on Friday with general global risk-on sentiment fading on the back of a possible US Fed rate hike. This caused the All Share to slip 0.07% for the week. Despite the influence of global macro economic events, the market was largely affected by numerous large cap earnings releases such as Naspers (Tencent) and Standard Bank. The Fini 15 lost 1.46% for the week despite a 7% rally in Standard Bank on Thursday while the Resi 10 shed 0.6%.

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Weekly Share Talk - 15 August 2016

Private Clients | 15/08/2016

South Africa’s business confidence index increased by 0.96 points in July, up from 95.1 points the previous month. The gain was accelerated by a firmer rand as well as improved export volumes and better than expected retail sales. Manufacturing output improved by 4.5% which was better than expected on a YoY basis to June 2016. MoM factory production rose by 0.7%, up from a revised 3.9% in May.

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Weekly Share Talk - 8 August 2016

Private Clients | 08/08/2016

The JSE Top 40 closed 2.16% lower this week with Nedbank (+6.06%), BHP Billiton (+4.98%), and Standard Bank (+4.60%) being the top performers, and MTN (-7.46%), Capital & Counties (-6.72%), Fortress Income Fund (-5.32%) being the biggest laggards. Results announcements by Nedbank and MTN partly contributed to the performance of these stock which were at opposite ends of the performance scale. On the industrials side, the INDI25 recorded a 2.34% decline.

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Investment Monthly July 2016

Private Clients | 08/08/2016

In this edition we review the South African equity market performance for July. We focus on global central banks, the expansionary monetary policy environment and its impact on global markets.

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Weekly Share Talk - 25 July 2016

Private Clients | 25/07/2016

The JSE all share index lost 0.36% for the week with very low volumes traded. The rand briefly touched R14.16/$ on Friday, its’ best level against the dollar in more than two months. In company news, Shoprite Holdings was the star performer among the blue-chip stocks following its operational update. Consumer prices in South Africa rose 6.3% y-o-y for June, above market expectations of 6.2%.

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Weekly Share Talk - 18 July 2016

Private Clients | 18/07/2016

The JSE edged firmer on Friday on the back of upbeat US economic data and better than expected local manufacturing production and retail sales numbers. Local retail sales increased by 4.5% on a year on year to May, following an upwardly revised 1.6% growth in the previous month. Local manufacturing production was up by 4% year on year to May following an upwardly revised 3.1% increase. The All Share Index closed the week 3.5% higher while the Top 40 Index closed the week 3.4% higher.

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Weekly Share Talk - 11 July 2016

Private Clients | 11/07/2016

It was a tough week in global markets, with volatility still prevailing despite a recent post-Brexit rally. This was also reflected on the JSE as the All Share Index experienced a 2.06% loss for the week despite a 0.35% gain on Friday. Financials and industrials led the losses. The FINI15 index rose by 1.07% on Friday, but recorded a loss of 3.64% for the week. On the industrial front, 14 of the 25 constituents of the INDI25 rose in value as the index lost 2.25% for the week.

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Investment Monthly June 2016

Private Clients | 05/07/2016

In this edition we review the SA equity market performance for June 2016. We focus on the effects of Brexit on companies who derive a substantial amount of earnings from the UK. 

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Weekly Share Talk - 4 July 2016

Private Clients | 04/07/2016

Local markets ended the week positive as investor concern around the UK vote to leave the European Union eased. The JSE had lost about R500 billion in the two days following the referendum. The JSE All Share index finished the week 1.31% higher at 52 357 pts and the blue-chip top 40 index finished 0.98% higher at 46 015 pts. Resources ended 4.37% higher, Industrials 0.43% higher and Financials ended the week 0.16% lower.   

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Weekly Share Talk - 27 June 2016

Private Clients | 27/06/2016

The All Share ended a volatile week slightly weaker, down 0.88%. Markets traded tentatively ahead of the EU Referendum, then fell sharply once the votes were counted and in favour of the ‘leave camp’. Prices were volatile in response to forecasts and sample polls leading up to Thursday’s referendum. Resources weighed on the index as risk off trade was evident globally and uncertainty put pressure on commodity prices. 

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Weekly Share Talk - 20 June 2016

Private Clients | 20/06/2016

The JSE All Share ended a holiday shortened week in negative territory despite gaining 0.2% on Friday. The All Share lost 2.27% for the week closing at 52140 points while the blue-chip Top 40 ended the week 2.2% lower. The JSE followed the global trend of volatile trade centred around US Fed rate decisions and the impending Brexit referendum. The US Fed kept rates unchanged following a string of underwhelming economic data led by the poor May jobs numbers. 

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Investment Monthly May 2016

Private Clients | 01/06/2016

Please find a copy of the May edition of our Investment Monthly. The newsletter highlights market events and movements over the month and highlights interesting topics and/or shares.

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Weekly Share Talk - 23 May 2016

Private Clients | 24/05/2016

Local markets ended an action-packed week higher with the rand extending its losses. The All Share index finished the week 2% higher at 52 638 pts and the blue chip top 40 index finished 2.49% higher. Mining stocks led the charge, rebounding from two consecutive weeks of losses. Resources finished the week 2.99% higher. Industrial and financial shares  finished 2.02% and 2.09% higher respectively. Fi-nancials ended a three week losing run. 

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Weekly Share Talk - 09 May 2016

Private Clients | 09/05/2016

The JSE All Share ended a May Day shortened week lower following a general global market sell-off. The ALSI was down 2.91% with the Top 40 2.95% lower. A turbulent week for the ALSI was capped off with unexpectedly weaker US jobs numbers. April non-farm payrolls figures showed 160000 jobs were added in the month, which fell well short of the 205000 forecasted by economists. Fears that global economic growth might not be as robust as first expected, were heightened by weak numbers.

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Weekly Share Talk - 3 May 2016

Private Clients | 03/05/2016

The JSE ALSI lost 0.69% over the week. Soft U.S data helped the rand to its best level against the dollar in about five months. It reached R14.18/$ late on Friday, having gained almost 4% on the month. The resource index bagged a notable 12% in April. Additionally, resources were the only gainer lifting 0.56% while financials led the losses dipping 1.68%. The weaker dollar boosted commodity prices, gold spot prices firming 4%, platinum up 6.2%, Brent crude oil up 1.43%.

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Weekly Share Talk - 25 April 2016

Private Clients | 29/04/2016

The All Share Index and the Top 40 index closed the week slightly weaker (down 0.21% and 0.55% respectively) on the back of a retreat in world markets. Industrials ended the week down 2.59%, while Financials and Resources ended the week up 1.06% and 5.4% respectively. 

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Weekly Share Talk - 18 April 2016

Private Clients | 18/04/2016

The JSE ended the week on a high, despite some volatile trade on Friday. The JSE All Share gained 3.14% for the week coming in at 53 038.91 pts. The blue-chip Top40 was also up 3.34%, at 46 763.08. Industrials, financials and resources ended the week +1.7%, +2.78% and +9.85% respectively. The Rand made marginal gains against the greenback, gaining 0.31%. 

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Weekly Share Talk - 11 April 2016

Private Clients | 12/04/2016

Local markets edged lower in a volatile week. The All Share index was down 0.31% at 51 424 points, pulled down by a sell-off in banking stocks. The banking index has battled to gain traction since December, when President Zuma reshuffled finance ministers. The JSE Top 40 index was down .51% at 45 252 points. Financials and resources led the losses, down 3.16% and 0.46% respectively.

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Weekly Share Talk - 04 April 2016

Private Clients | 04/04/2016

Local markets ended the week mixed, with the rand putting up strong performance while the JSE fared poorly. The All Share index finished the week 1.87% weaker at 51 584 points, partly as a result of a stronger rand, which took the shine off rand-hedge stocks. The JSE Top 40 index was 1.86% weaker at 45 485 points. Resources and Industrials were both down 3.23% and 2.06% respectively.

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Investment Monthly March 2016

Private Clients | 04/04/2016

In this edition we review market performance for March. Focusing on recent monetary policy changes and their implication for emerging markets.
 

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Weekly Share Talk - 29 March 2016

Private Clients | 30/03/2016

SA markets ended a shortened week in the red as investors cashed in on recent gains, particularly in equities. The JSE All Share index tumbled 0.69% for the week. The rand was a victim of a strong dollar and weak commodity pric-es. This affected the CPI figures negatively, worsening to 7% in February from 6.2% in January. This will likely lead to another interest rate hike. Mining stocks took a heavy knock in a broad sell-off that included Financial and Industrial counters.

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Weekly Share Talk - 22 March 2016

Private Clients | 22/03/2016

The JSE All Share ended the week on a positive note, largely supported by strong showings in the banking and financial sector as a whole. At the close on Friday the All Share ended up 1.19% at 53824.30 (a 2016 high) with the blue-chip Top 40 1.36% firmer. The ALSI gained 4.03% with the Top 40 2.70% firmer. Banks were firmer on the back of further possible interest rate increases by the Reserve Bank. On thursday, the SARB raised interest rates by 25 basis points.

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Weekly Share Talk - 14 March 2016

Private Clients | 14/03/2016

The All Share ended slightly lower, sliding 0.88%. Volatility in the commodity market sent the resource sector down 3.8%. Profit taking in both gold and global miners followed better than expected stimulus from the European Central Bank. However, Kumba Iron Ore was the biggest gainer, boosted by a strong rally in the iron ore price and short-covering by investors. South Africa’s current account deficit widened more than expected raising the possibility of a rate hike.

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Weekly Share Talk - 7 March 2016

Private Clients | 07/03/2016

The JSE rallied to its best level in three months last week, taking its lead from higher international markets. The All Share index logged a sturdy 5.61% gain to 52 200 pts, and the blue-chip Top 40 index gained 5.40% to 46 224 pts. Industrials and financials supported the rally which was dominated by resources this week. The resources index leapt 13.70% to reach its highest level since early November 2015. 

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Weekly Share Talk - 29 February 2016

Private Clients | 29/02/2016

The JSE all share index gained 1% over the week. Under performance of the Financials and Industrial sectors during the month reflected the relative strength of the rand, which hit R15.06/$ during the week, before retreating to R15.60/$ following the budget speech. Pravin Gordhan reported in his budget speech the increase in capital gains tax, fuel levies, sin taxes and transfer duties. Industrials were the star performer while financials led the losses.

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Weekly Share Talk - 22 February 2016

Private Clients | 22/02/2016

The JSE All Share closed down 1.84% on Friday largely influenced by banks and financials along with a sharp selloff in MTN. Friday’s downward movement pulled back gains from earlier in the week resulting in a weekly gain of 0.72%. The All Share saw movements triggered by a bevy of Top 40 company earnings announcements. The market was buoyed by the resources sector which gained 0.45% whilst financials and industrials lost 1.98% and 2.73% respectively.

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Weekly Share Talk -15 February 2016

Private Clients | 16/02/2016

The All Share followed global markets lower, sliding 2.34% for the week. Volatility and global growth concerns contributed to the sell off in markets, particularly emerging markets. Investor caution led the metal prices higher while a rapidly descending Japanese market sent JSE heavy-weight Naspers tumbling 10.13% on the back of declines in Tencent. 

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Weekly Share Talk - 08 February 2016

Private Clients | 08/02/2016

The All Share index finished the week 1.24% higher at 49 753 pts, and the blue chip Top 40 index was 0.88% higher at 44 453 pts. Resources led the rally during the week, with the Resource 10 index finishing up nearly 7%, fuelled by a rally in commodity prices as the result of the weaker dollar. Kumba Iron Ore was the star performer, up nearly 40% for the week. Anglo American followed suit and was up 31.33%.

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Investment Monthly January 2016

Private Clients | 04/02/2016

In this edition we review market performance for January, briefly comment on the chances of a turnaround in the resources sector, and lastly we look at SA telecommunications sector.

 

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Weekly Share Talk - 01 February 2016

Private Clients | 01/02/2016

The South African markets staged a recovery during the week to close out after an eventful month for global markets. The JSE all share index gained 3% over the week. The rand rallied to its best level against the dollar in three weeks, partially boosted by the Reserve Bank’s decision to raise interest rates by 50 basis points. The financial sector was the star performer lifting 7.52% followed by resources.

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Weekly Share Talk - 17 January 2016

Private Clients | 18/01/2016

The All Share followed global markets lower, sliding 2.38% for the week. Concerns around China, a plummeting oil price and Rand weakness contributed to a broad-based sell off. Financials and Industrials led the declines over the week down about 2.5%. Safe haven asset gold was in favor despite volatility in the metal price with gold miners ending the week up 9.54%.

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Investment Monthly December 2015

Private Clients | 04/01/2016

In this edition we review the performance of the local equity market for December 2015 and feature the Rupert family empire in our stock pick.

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Investment Monthly November 2015

Private Clients | 11/12/2015

In this edition we review the performance of the local equity market and what to expect in December as well as what Lonmin could signal for other companies.

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Investment Monthly October 2015

Private Clients | 14/11/2015

 In this edition we review the performance of the local equity market and how changes to the structure of the Chinese economy will influence investment choices going forward and look into the fine that’s hit MTN.

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Exxaro Resources Performance Review

Institutions | 11/11/2015

The release of Exxaro (EXX SJ) Dec-2014 integrated report has impelled an update to its Environmental, Social and Governance (ESG) scorecard based on new disclosures. We have re-ranked it in our universe of the Top 100 JSE-listed stocks. Exxaro scores 45.76(out of 100) for 2014, compared to 50.44 in 2013 on an unweighted basis.

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Barclays Africa Performance Review

Institutions | 11/11/2015

The release of Barclays Africa Group Ltd (BGA SJ) Dec-2014 integrated report has prompted an update to its Environmental, Social and Governance (ESG) scorecard based on new disclosures. We have re-ranked it in our universe of the Top 100 JSE-listed stocks. BGA scores 55.21(out of 100) for 2014, compared to 46.34 in 2013 on an unweighted basis.

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Weekly Share Talk - 19 October 2015

Private Clients | 19/10/2015

The JSE All Share Index ended the week marginally higher, up 0.35% to 52 945pts. Sibanye and Harmony performed well, supported by the firmer gold price. Construc-tion stocks sold off as news of the Murray & Roberts bridge collapse on Gauteng's national highway.

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Weekly Share Talk - 12 October 2015

Private Clients | 12/10/2015

The JSE All Share Index saw a strong rebound last week rising 4.5%. Resources led the gains climbing 13% as Gold and Platinum miners rose 10.5% and 24% respectively.

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Weekly Share Talk - 5 October 2015

Private Clients | 05/10/2015

South African stocks ended the week higher with the All Share Index gaining 1.24% at 50 955 pts. Pick n Pay was one of the biggest losers as the earnings forecast came in lower than analyst expectations.

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Investment Monthly September 2015

Private Clients | 05/10/2015

In this edition we review the SA equity market performance for September 2015, we look at the opportunities to buy Tiger Brands and suggest that the future of global commodity companies may not be bright.

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Weekly Share Talk - 28 September 2015

Private Clients | 28/09/2015

The JSE All Share Index ended the week on a negative note as it dropped 1.4%. This was mainly led by the sell off in the resource stocks, which dropped 7.2%, followed by financials and industrials (down 1.82% and 0.26% respectively).

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Investment Monthly August 2015

Private Clients | 04/09/2015

In this edition we review the SA equity market performance for August 2015 with specific focus on local currency movements. We look to quell investor fears through our defensive stock pick ideas and conclude with a look into the panic that seems to have set in for global markets.

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