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Highlights of the day: 13 June

April 16, 2024
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FinMeUp
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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

  • Coca-Cola and Brown-Forman have announced plans to debut a Jack Daniels & Coke cocktail as a branded, ready-to-drink, pre-mixed cocktail option.

Spotify

  • Spotify has agreed to acquire Sonantic. Sonatic specializes in voice AI.

The S&P500

  • The S&P 500 is back to being down 20% from its All-Time Highs, which is the technical definition of a bear market.

 

Biggest winners and losers

JSE

  • Mediclinic +1.57%
  • Thungela -9.89%

US

  • Pepsi -0.56%
  • Dexcom -76.42% 

Crypto (blood on the streets)

  • Bitcoin -16.0%
  • Ethereum -18.8%
  • Solana -18.2%

 


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