Highlights of the day: 13 June

July 17, 2023

Author

FinMeUp

FinMeUp Highlights of the day

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South Africa

Sibanye Stillwater- Sibanye-Stillwater signs three-year wage agreement and uplifts lockout at its SA gold operations

The company signed a three-year wage agreement for its SA gold operations, effective from 1 July 2021.
As a result, the lockout has been lifted for members of trade unions, the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mine Workers (NUM).
The agreement will result in an average of 6.3% wage increase over a three-year period.

Sirius Real Estate Limited- Results for the year ended 31 March 2022

Profit before tax grew from 163.7 million to 168.9 million.
Total accounting return grew from 19.5% in March 2021 to 20%.
Like-for-like annualised rent roll in the UK increased by 7.6% in the Companys 4.5-month period of ownership of BizSpace.
Funds from operations grew by 22.5% to 74.6 million.
Like-for-like book value increase of 10.6% relating to the 4.5-month period of ownership of BizSpace in the UK.
Net asset value per share increased by 15.5% to 102.04c.
Operating profit increased by 10.3% to 188.2 million.
Basic EPS reduced by 4.8% to 13.48c.
HEPS decreased by 5.8% to 5.32c.
The board has declared a dividend of 2.37c per share for the six-month period ended 31 March 2022, resulting in a total dividend for the year of 4.41c which is an increase of 16.1%.
The dividend will be paid on 18 August 2022.

Thungela Resources

Tightness of energy and sanctions placed on Russia has resulted in the price of thermal coal to surge.
The Benchmark coal price has averaged $266/tonne for the year to date, compared to $98/tonne in H1 2021.
Coal production for export will be 14% down in the first half of 2022 because of Transnet's rail problems.
Thungela has decided to curtail production where we are able to minimise stranded costs.
Export equity sales for H1 2022 are expected to decrease 3%.
EPS is expected to increase from R3.14 to at least R58.00.
HEPS is expected to increase from R3.05 to at least R58.00.

Pepkor Holdings

Coronation acquired an additional beneficial interest in securities of the Company and now holds 5.01% of the Companys total issued ordinary share capital.

U.S.

Crypto

Bitcoin has once again reached a 52-week low at $24 000 at the time of writing this.
Ethereum has also reached a new 52-week low at $1 211 at the time of writing this.

Microsoft

Microsoft announced its launching the Xbox TV app later this month.
The app will let owners of Samsungs 2022 Smart TVs with Xbox Game Pass Ultimate to play Xbox games without a console through the cloud! - The Verge.
Microsoft announced today a new comedic Sci-Fi Shooter From Rick and Mortys Justin Roiland called High On Life.

Apple & Nike

Apple and Nike have signed a multi-year deal to develop a series of sports films for AppleTV+ produced by Nike's films studios according to Deadline.

Sofi

This weekend, Sofi CEO, Antony Noto bought 33.5k more shares of Sofi stock at an average price of $5.98.

Tesla

Tesla has asked shareholders to increase its share count by 4B to 6B so the company can implement a 3:1 stock split.
Tesla is hiring between 500-600 new people a month at its German Gigafactory.

Coca-Cola & Brown-Forman