30 « May « 2008 « Investment Postcards from Cape Town

SA Inflation – another shock

By Prieur du Plessis, on May 30th, 2008 posted in: South Africa

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By Kevin Lings

In April 2008, headline CPI inflation rose by a very substantial 1.8% m/m, with the annual rate rising to 11.1% y/y from 10.6% y/y in March. This was much higher than market expectations of a rise to 10.8%. CPIX inflation also rose by a significant 1.6% m/m in April, [...]

Financials offer good value compared to resources

By Prieur du Plessis, on May 30th, 2008 posted in: South Africa

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Investors have been surprised by the FTSE/JSE All Share Index’s strong rally of 24,9% since the market’s low on 23 January 2008. What is even more surprising is the large difference in the improvement of the major sub-indices. Resources companies have rallied by an incredible 44,8% on the back of only a few [...]

Pictures du Jour: Banks to indicate direction for stock market

By Prieur du Plessis, on May 30th, 2008 posted in: Investment, Markets, Money

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The big question investors are grappling with at this stage is whether the rise in prices has simply been a bear market rally, or whether we are back in a primary bull market. This post alerts one to the factors at play regarding the performance of banking stocks – factors beginning to point to the possible initial stages of the long-term bottoming-out of the relative performance of banking stocks and, ultimately, to better prospects for stock markets as a whole. [...]

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Roach on U.S. economy, Fed policy, China, Europe
Stephen Roach, non-executive chairman of Morgan Stanley Asia, discusses the U.S. economy, Federal Reserve monetary policy,… »
Prieur’s Readings (Jan 30, 2012)
As part of my daily routine, I publish all my reading (including snippets from other well-known commentators) in an Internet… »
How best to play the China story
Helen Zhu, chief China equity strategist of Goldman Sachs, believes the mainland will see policy normalization in 2012. In… »
European choices
The article below is a guest contribution by Cees Bruggemans, Chief Economist of First National Bank. Last week, the Euro area… »