Highlights of the day: 10 June

FinMeUp Highlights of the day

South Africa

African Rainbow Capital Investments

• The company now owns 41.5% of Alexander Forbes.
• It also owns TymeBank, which is adding 130,000 customers a month, and is launching GOtyme in the Philippines in October.
• The ARC Fund currently holds 10,6 million Afrimat shares, which equates to an approximate 7,3% shareholding in Afrimat.
• The ARC Fund holds an 11,1% stake in Humanstate, and a 43,2% stake in Payprop SA.

The Foschini Group Limited- Financial statements for the year ended 31 March 2022

• The group recorded revenue of R46,2 billion, which reflects a growth of 29.7%.
• Group retail turnover grew 31.6% to R43,4 billion.
• Gross margin expanded strongly to 48,5% from 45,5%.
• HEPS grew 409,9% to 1 009,0 cents per share.
• Basic EPS grew 246,9% to 901,9 cents per share.
• The Foschini Group made a net profit of R2.9 billion compared to a loss of R1.9 billion in the previous year.
• Online sales now account for 10.2% of total sales.

U.S.

AMD

• AMD predict a 60% sales growth in 2022.
• AMD says they are currently the worlds number 1 game console provider.

Meta

• The head of engineering at Meta has resigned.

Apple

• Apple planning to fund Apple Pay Later loans off its corporate balance sheet.

$LUNA and $UST

• Terra employees reportedly confirmed to the SEC that Do Kwon cashed out $80 million a month prior to the $LUNA and $UST crash.

Consumer Price Index

• CPI for May came in at 8.6% (YoY) above expectations of 8.3%.

Biggest winners and losers: 

JSE

• Goldfields +7.98%
• Anglo American -4.64%

US

• Pinduoduo +4.19%
• DocuSign -23.87% 

Crypto

• Bitcoin -2.6%
• Ethereum -3.7%
• Cardano -8.7%

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