The Real Network The Money Shot

The Money Shot

Find out where the money’s going, who’s got the money, how you can make more of the money and who’s making decisions about the money. Every Monday on The Gareth Cliff Show we get an update on what’s happening in the world of finance from various experts in the field.
Weekly English South Africa Business · Investing
228 Episodes
120 – 140

Company results, US earnings season & SA Budget

The Rand is blowing out on all the political shenanigans this week – cabinet reshuffle, rumours of CR17 and President Putin. A weaker Rand is good for Rand hedges, but bad for local shares. CPI inflation was very disappointing at 4.6% (headline inflation came in at 5.1%) – fuel inflation…
23 Oct 2017 19 min

Acquisitions & Resignations

Market update – out of the last ten trading days, we only had one negative close, while the Rand continues to strengthen - currently 13.26 / US$. Some good news in the manufacturing sector as August prints at 1.5% growth vs expectations of ½ % contraction. In company news, the…
16 Oct 2017 16 min

JSE highs, US Employment down & the Perils of Corruption

The JSE has reached all-time highs despite the economy still struggling along, while there are lots of companies either unbundling, being taken over or bids being retracted. The US employment number decreased for the first time since Sept 2010, thanks to Hurricanes Harvey and Irma (or is it Trump?). And…
9 Oct 2017 14 min

SAA bailout

Market update: Even the 1% positive close on Friday couldn’t save the JSE from a negative September (-1.2% for the month). There was very little company news and on the macro front, Private Sector Credit Extension was released and indicates that the consumer is deleveraging 6.6% y/y and we managed…
2 Oct 2017 11 min

Oil flies high while Iron Ore & Bitcoin slump

The Rand weakened for a sixth straight session on Friday (-1.3%) and the stock market remained soggy, falling another ½% - with all major indices lower. Commodity catch up: Gold lower ahead of ECN and US Fed meeting this week (especially after last week’s US consumer inflation number). Oil is…
18 Sep 2017 14 min

New Apple launches & the Year of Naspers

Quite a few companies reporting this week - AVI today, Aspen and Impala Platinum on Thursday, Richemont on Wednesday. It's the launch of the Apple iPhone 8 tomorrow, plus several new products including a new version of the Apple Watch and Apple TV. The iPhone is about two-thirds of Apple’s…
11 Sep 2017 8 min

Discovery, Stellar Capital & Mr Price

Global markets started the day stronger on Friday because of positive Chinese manufacturing data, and somehow even the US opened strongly despite weaker than expected non-farm payrolls. The US reported creating 156,000 jobs for the month of August versus an expecting 180,000 – wage growth remained constant at 2.5%y/y. The…
4 Sep 2017 15 min

Retail Results & Shareholder Activism

We had 5 straight days of gains last week, with the All Share index ending just a tenth of a percent higher on Friday, and 2.6% higher for the week. Retailers: we dissect Woolworths and Massmart results; not a pretty picture. Let’s have a conversation about the value of your…
28 Aug 2017 17 min

Education, Mining & a Resignation

Friday ended a third of a percent lower on the markets, but thanks to Naspers’s 5% rally we managed a 0.3% positive close for the week. Education stocks ADvTECH and Curro reported last week. We had a flurry of miners report: Harmony and Goldfields both reported flat gold production numbers…
21 Aug 2017 12 min

China investigates & Disney says No to Netflix

The global markets were mixed and despite the weaker Rand, the JSE was under a lot of pressure, falling over 1% on Friday. The US managed a positive close despite muted inflation figures. Alviva, formerly known as Pinnacle, was up over 2% after releasing a decent trading update. Naspers was…
14 Aug 2017 14 min

Steinhoff, Shoprite & the Paper Revival

Market update: we’ve had a nice little rally, up ½% on Friday bringing the week’s gain to 2%. But the Rand has suffered quite a blow this week, last trading at 13.47 to the US Dollar on Friday, partly driven by a stronger greenback after the US non-farm payroll numbers…
7 Aug 2017 11 min

Tobacco, Amazon & Oil

We started the day negative in the markets, and then managed a little bounce in the afternoon to end the day flat. Barclays Africa reported disappointing half year results and tobacco companies plummeted on Friday after the FDA announcement that they want to reduce nicotine levels in cigarettes. Naspers fell…
31 Jul 2017 11 min

Bulls & Strong Financials

Market update: It’s been an exceptional week; the bulls were out with a vengeance – the market was up 5 consecutive days in a row. Friday saw the Rand rally briefly below 13 against the US dollar as news broke of the mining charter being suspended. Despite the stronger Rand,…
17 Jul 2017 12 min

Market Updates & Metal Reactions

The Rand is still weak and volumes low. The All Share Index was down ¾% on Friday. Global markets are nervous as Central Banks talk about tapering. The JSE announces details of their cost optimisation plans. Flash crash in Silver on Friday and a halt in trading, is only one…
10 Jul 2017 12 min

The Rand, SAA Bailout & Nike

Market update: overall the JSE closed ½% higher on Friday which means for the month we are “only” 2.5% down. The Rand had a complete blowout on Friday afternoon: was it that a date has been set for the vote of no confidence or that Reuters reported that Gigaba said…
3 Jul 2017 16 min

Naspers, Astral Foods & eTV

The Market finally had a positive day, lifted by macro-economic data and Naspers. Oil continues to fall. Naspers released full financial results, sending the share 2.6% higher. Astral Foods bounced just over a percent after falling 6% the previous day on the back of news of avian flu on one…
26 Jun 2017 12 min

The Mining Charter

The main focus of Thursday was the Mining Charter, which weighed on resources and our market in general. The All Share Index was down 1.3%. It was a huge day on the market thanks to Derivatives Close-Out; $5.4bn (R69.5bn) traded. Naspers released a trading statement, core headline earnings per share…
19 Jun 2017 9 min

Global Markets & Downgrades

Despite falling into recession, Moody’s decided to downgrade SA by only one notch, leaving us at investment grade. But that does not mean we can relax, there is nothing stopping them from downgrading us again in a couple of months (weeks if we do something stupid). Our local market managed…
12 Jun 2017 14 min

Ratings, PPC & US jobs

Fitch kept our rating unchanged, which sent the Rand to 12.80 vs the US Dollar and weighed on our market. For the week the local market fell 2.2% despite a flat to slightly positive close. PPC put out a trading update which led us to talk about other companies that…
5 Jun 2017 10 min
120 – 140