Highlights of the day: 13 April

July 17, 2023

FinMeUp highlights of the day

UK inflation concerns
UK inflation surged 7% to a 30-year high. Inflation is expected to increase even further as the Russian-Ukraine conflict continues to put pressure on commodity prices.

Crypto firm MoonPay raises $87m
Cryptocurrency startup Moonpay has raised $87 million from more than 60 high profile investors, including Justin Bieber, Snoop Dog, Maria Sharapova and Bruce Willis. Moonpay provides payment infrastructure for crypto and NFT transactions.

Mr. Price
- Mr. Price acquired 70% of Blue Falcon Trading 188 Limited, which owns the Studio 88 Group of businesses
- The Studio 88 Group is the largest independent retailer of footwear, branded leisure, sporting apparel and lifestyle in South Africa.
- This acquisition will increase Mr. Prices revenue to over R28 billion, increase their store footprint to more than 2400 stores and the group will employ over 25 000 people.

Meta Inc
- Mark Zuckerberg says Meta will test selling virtual goods in the metaverse.
- This is apart of Zuckerbergs plan to make it easier for people to spend and make money on virtual reality platform Horizon Worlds which is a free virtual reality, online video game.
- Meta will reportedly charge creators in its Metaverse a 47.5% fee for all sales.

Elon Musk
- Elon Musk is being sued for failing to reveal his investment in due time.
- Law requires disclosures to be filed within ten days of buying a stake worth over 5%.
- Musk first disclosed a 9,2% stake on April 4, the deadline was March 24.

PSG Konsult
- Recurring HEPS increased 32% to 69.7 cents.
- Total dividend per share increased 31% to 32 cents a share. 
- Total assets under management increased 17% to R315bn.
- Return on Equity increased to 23.8%

Biggest winners and losers
Mr Price +6.5%
Old Mutual -5.5%

Pinduoduo +6.6%
Bed Bath and Beyond -6.8%

(Crypto )
Bloody day for the crypto markets
Bitcoin +1%
Ethereum +1%
Solana -3%

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