In this episode of the BizNews Briefing, host Alec Hogg is joined by Sean Summers of Pick n Pay and Marek Masojada CEO of Boxer which lists next week, worth north of R20bn. Also Rob Hersov on how the New World Order will affect SA; C5 Capital’s Andre Pienaar’s big deal with Sibanye; Nvidia and more.
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BizNews Briefing Highlights:
Market Overview
- JSE Performance:
- All Share Index up 0.2%.
- Resources declined 1.2%; Industrials improved 0.5%; Financials gained 1%.
- Rand strengthened to R18.16/USD and R22.76/GBP.
- Bitcoin: Increased by 2.5%, trading at R96,751.
- Commodities:
- Gold remained steady at $2,500/oz.
Key Company Results
- Mr Price:
- Revenue up 5% (compared to market’s 2.2%), headline earnings per share (HEPS) grew 6.5%.
- Market share improved by 60 basis points; stock rose 8.3%.
- SPAR:
- Sold Polish operations, reducing debt by R2 billion to R9 billion.
- Expected HEPS growth of 16-26% (excluding Polish operations); shares up 4%.
- Purple Group:
- Returned to profitability; shares gained 3.5%.
- Investec:
- Operating profit increased by 7.6% to £475 million; cost-to-income ratio improved to 50.8%.
- Lewis Group:
- Despite HEPS rising 49%, shares fell 5.5% due to high expectations.
- Roynet:
- Revenue grew 5%, but demand for batteries declined due to reduced load-shedding.
- Other movers:
- EOH rose 6.8%; Aspen dropped 0.5%; AB InBev hit a 12-month low.
Interviews and Features
- Boxer Retail Outlook:
- Sean Summers (Pick n Pay CEO) and Marek Masajoda (Boxer CEO) discussed Boxer’s promising future.
- Analyst Evan Walker endorsed Boxer as a “top stock” for long-term portfolios.
- Rob Hersov:
- Upcoming Business TV interview covers his bold views on global politics, the New World Order, Helen Zille, and Gayton McKenzie.
- Andre Pienaar:
- Former Scorpions member and founder of C5 Capital ($500m AUM), discussed partnerships with Sibanye Stillwater and insights into the South African nuclear deal.
Global Insights
- Nvidia Results:
- Nvidia doubled sales but underwhelmed investors. Dan Ives, a Wedbush analyst, remains bullish, predicting a $4-4.5 trillion valuation.
- Gautam Adani Indictment:
- The Indian billionaire was charged with a $250m bribe by the U.S. Department of Justice. Hogg noted the implications for companies like MTN facing similar scrutiny.
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