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
112 – 132

The Steinhoff drama isn't over yet

Despite being halfway through December, the volumes have not dropped, on Friday alone $4.4bn traded – no surprise really as the Steinhoff drama is not over; still lots of short covering and on Thursday Christo Wiese alone had a R1bn margin call. Naspers hosted their first Investor day in NYC…
18 Dec 2017 16 min

The Steinhoff saga continues & Naspers not out of the woods yet

Some good news with SA's Q3 GDP coming in at 2%. The Steinhoff saga continues: since Jooste’s resignation R223.8bn has been wiped off the exchange. Naspers is not out of the woods yet as US-based legal firm, Pomerantz starts an investigation and calls for shareholders to come to them for…
10 Dec 2017 17 min

Credit Ratings Agencies & more

CPI inflation was released, coming in slightly lower than expected. SARB kept rates unchanged – the uncertainty was too much for them to handle... and there is lots to talk about credit ratings agencies. PPC rejects Fairfax offer, Mr Price looks like it is getting back on its feet, and…
26 Nov 2017 18 min

Tencent, Tongaat & Vodacom

The market gained three quarters of a percent last week, mostly driven by Naspers on the back on Tencent’s exceptional results. Consolidated Infrastructure fell 60% in one day last week. Tongaat reported results, and Vodacom reported results - the share was punished for a disappointing dividend. We look forward to…
19 Nov 2017 14 min

Record sales for Alibaba & Steinhoff in "trouble"

The JSE hit an all-time high last week, but has subsequently retraced a bit. Macro: SACCI Business Confidence figures were released last week, and it’s just not getting better. Steinhoff is in “trouble” with the German authorities again - this time because they did not disclose a “material” transaction. Brait…
13 Nov 2017 17 min

Trump's new candidate & US company news

The Rand fell 4% for the month of October, but it translated into a 5.7% gain on the stock market. Some good and some bad news on the economic data front for SA, and the Bank of England raises interest rates for the first time in 10 years. In the…
6 Nov 2017 21 min

Rand reacts, Companies report & Amazon amazes

The Rand reacted swiftly to the very disappointing budget, but at least the weaker Rand had a positive effect on the Stock market. Rand hedges were higher this week (Naspers now R3407 per share), and both Clicks and Dis-Chem reported some decent numbers. Also reporting, was ABInBev – saved by…
30 Oct 2017 17 min

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
112 – 132