Earnings season is drawing to a close and it feels like we've all earned a holiday. In considering how the first few months of the year have played out, some surprising winners have emerged.
The performance in gold is simply a case of the sector carrying on where it left off in 2024, but what about platinum? And where did that telecoms rally come from? Also, have retail stocks continued their slide since the previous episode of Ghost Wrap that focused on that issue?
This podcast gives you great context to the year-to-date performance on the JSE.
The Ghost Wrap podcast is proudly brought to you by Forvis Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Forvis Mazars website for more information.
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9:08
Ghost Wrap - Retailers on sale on the JSE
Listen to the podcast to get insights into the retail sector from the first few weeks of trading in 2025.
In clothing, it's quite clear that Pepkor and Mr Price had stronger numbers than The Foschini Group and certainly Truworths, yet the baby has been thrown out with the bathwater in that sector.
Woolworths is a hybrid model and this is reflected in the performance, with the food business looking far stronger than the rest of the group.
In grocery, Boxer has been the most defensive stock thus far in 2025 and had a solid festive season. Shoprite put in a predictably strong performance as well vs. peers. There are signs of life at Pick n Pay, but it remains well below Shoprite. Spar hasn't delivered a trading update yet, so the focus there is on cleaning house and getting out of broken investments (like Poland).
We save the best for last: Lewis. The latest numbers are highly impressive and when you consider the discretionary nature of the business, the share price resilience in 2025 has been especially promising.
The Ghost Wrap podcast is proudly brought to you by Forvis Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Forvis Mazars website for more information.
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10:14
Ghost Wrap - Five insights from December 2024
Listen to the podcast to get the details on these insights from December 2024:
Is Italtile's share price a Christmas miracle?
Bloisi's first acquisition at the helm of Prosus is a fascinating one in Latin America
Renergen was the most interesting announcement in the dead week between Christmas and the new year, revealing yet another risk for the business
Metair's selling price for the Turkish business has all but evaporated
Bell's share price may prove to be a cautionary tale about greed, with regret surely kicking in for those who voted against the scheme at R53 per share
The Ghost Wrap podcast is proudly brought to you by Forvis Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Forvis Mazars website for more information.
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9:26
Ghost Wrap - Five insights from November 2024
In a new format for the Ghost Wrap podcast, I look back on five important insights in the South African market from November 2024.
Listen to the podcast to get the details on these topics:
The per-share numbers are what count in the property sector
The market is hungry for quality IPOs
Poultry businesses are making money again
Murray & Roberts is a catastrophe
MultiChoice really, really needs the Canal+ deal to go ahead
The Ghost Wrap podcast is proudly brought to you by Forvis Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Forvis Mazars website for more information.
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11:58
Ghost Wrap #82 (Clicks | Dis-Chem | The Foschini Group | Cashbuild)
Ghost Wrap is your regular update on the most interesting company news in the South African market.
This episode covers:
Clicks and Dis-Chem as the dynamic duo in arguably the most appealing retail model.
The Foschini Group's latest acquisition in the UK, proving once more that the group isn't scared of risk.
Cashbuild's positive momentum in both the share price and sales growth.
The Ghost Wrap podcast is proudly brought to you by Forvis Mazars, a leading international audit, tax and advisory firm with a national footprint within South Africa. Visit the Forvis Mazars website for more information.
South Africa