BizNews Briefing – Hersov on DiData Campus judgement; Cy Jacobs spots JSE winner
Two of our most popular commentators are featured tonight, capitalist activist Rob Hersov provides context on Justice Denise Fisher's Jhb High Court judgement slamming six execs of Dimension Data (including co-founders Jeremy Ord and Doc Watson); and 36ONE's founder and CEO Cy Jacobs shares a JSE sector that hasn't caught up with SA's good news. Plus, why Foord's Singaporean team are hot on China for 2025.
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BizNews Briefing Highlights:
Markets and Investments
- JSE Update:
- Mixed performance across indices: Resources showed slight gains, while Industrials, Financials, and the Top 40 declined marginally. Financials dropped over 1%.
- Bitcoin surged by 3.36% to R94,799.
- Rand Performance:
- The Rand strengthened by 3 cents against the US Dollar but weakened by 12 cents against the strong British Pound, boosted by expectations of favorable outcomes from the Trump administration's tariff policies.
- Notable Stock Movements:
- Anglo-American: Announced increased Anglo-Platinum share sales. Resulted in Anglo-American's stock rising and Anglo-Platinum's declining.
- DataTech: Jumped 7.5% on its share buyback program.
- Hyprop: Gained 2.5% after a positive operational update.
- Nampak: Dropped 12.5% following a dismal trading update, highlighting its troubled state.
- Other Movements: Argent Industrial fell nearly 4% after interim results; Pepkor and Spar posted gains of 3.33% and 1.2%, respectively, while Aspen hit new 12-month lows.
Global and Regional Political Insights
- Namibian Election:
- Namibia, with its 4-million population, held a critical election that could unseat the ruling Swapo party, in power since 1990. Polls indicated dissatisfaction, with 62% of respondents believing the country was on the wrong path.
- Alec highlighted Namibia's booming gas finds in the Orange River Basin and contrasted it with South Africa's untapped potential due to regulatory hurdles.
- China's Growth Outlook:
- Foord Asset Management's portfolio manager, Rashaad Tayob, predicted China as a top global performer by 2025. This optimism was echoed by David Bacher of Corion, who recently returned from China impressed by the country's prospects.
Key Features and Interviews
- Dimension Data Case:
- Justice Denise Fisher's ruling on the Dimension Data Campus issue was described as a gripping read akin to a crime novel. Rob Hersov's detailed insights on the case is airing at 7 PM.
- Cy Jacobs (361 Asset Management):
- Jacobs, a respected South African fund manager, shared his bullish view on local markets despite outflows from major firms like Ninety-One (R100 billion) and Coronation (R50 billion). He highlighted overlooked opportunities in specific JSE sectors.
- Foord Asset Management:
- A sponsored interview with Rashaad Tayob provided insights into the firm's five predictions for 2025, including China's prominence.
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