- Stronger US dollar and rising oil prices indicate a reflation trade, though sector performance surprised with modest market losses.
- Concerns arise over the oil price surge, impacting global growth, demand, inflation, and trade terms.
- Polyethylene futures show some positive signs amidst a challenging chemical market.
- Energy stocks led the gainers, while home builders struggled due to rising rates.
- Airbnb and Blackstone likely joining the S&P 500.
- Manchester United declined as the Glazers withdrew it from the market.
- Luckin Coffee thrived in China with strong alcohol-infused latte sales.
- Local GDP improved due to reduced power outages, with the primary sector driving growth.
- TFG’s disappointing trading update and profit forecast decline weighed on the local market.
- Mixed Asian markets, with Chinese property stocks gaining on stimulus hopes.
- A stronger dollar, higher oil prices, and weaker global treasury yields pose short-term challenges.
- Shoprite analysis revealed adjusted numbers affected by one-offs, strong underlying H2 earnings, rising capex indicating market competition, and a focus on price competitiveness to boost future sales.
- Shoprite’s GP margin improved in H2 FY23 but remained below H2 FY22 levels, suggesting an investment in price competitiveness.
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