Now what do they want?

Now what do they want?

If you've been watching government bond yields, from the US to Europe to Japan, and wondered what's going on them look no further for incisive analysis...

Budget blues

Budget blues

Ingham Analytics have issued their latest Banking Monitor.

Booming along

Booming along

In "Booming along" Ingham Analytics reveal some extraordinary statistics in their equity and credit markets analysis.

Carnival or just a Bloody Circus?

Carnival or just a Bloody Circus?

Andrew Kinsey says Carnival is to bond investors what GameStop is to equity gamblers.

Mining Monitor - Dividend delight

Mining Monitor - Dividend delight

Is there more juice to squeeze?

 Is there value to be had in Tencent or has it run too far?

Is there value to be had in Tencent or has it run too far?

What to expect from Tencent for the next set of results?

Stop the Game – I want to get off

Stop the Game – I want to get off

The note by leading international trader and analyst Andrew Kinsey strips away the popular narrative on the saga to give the real picture.

All that glitters?

All that glitters?

Ingham Analytic says that the Sasol trading statement for the six months ended 31 December 2020 seems quite good at first glance but less so in...

Elevator to the stratosphere?

Elevator to the stratosphere?

If you are exposed to US equity markets, you'lll want to get their take on valuations and what's driving behaviour.

The gift that keeps on giving for BHP

The gift that keeps on giving for BHP

Is the share price fair? What’s up with iron ore?

Lithium's Tesla disconnect - A report not to be missed

Lithium's Tesla disconnect - A report not to be missed

Ingham Analytics new research note says that the dizzying rise in the Tesla share price isn't matched by the prices of key commodities that go into...

2020 Redux?

2020 Redux?

Top trader Andrew Kinsey shares his valuable insights as we head into 2021

Saxo’s outrageous predictions for 2021 and our take

Saxo’s outrageous predictions for 2021 and our take

Ingham Analytics say that Saxo Bank's inclusion of South Africa in its annual "outrageous predictions" was another timely reminder to investors to heed warning signals.

Wither portfolio management, or not?

Wither portfolio management, or not?

Top trader Andrew Kinsey has some surprising statistics and outcomes to share.

Credit where credit is due?

Credit where credit is due?

Ingham Analytics unpack the quirks of this listing.

Gaming for change

Gaming for change

For investors in Tencent (or Prosus or Naspers for that matter) Ingham Analytics latest note on Tencent entitled “Gaming for change” will be of interest.

Will antitrust action spoil the US tech party?

Will antitrust action spoil the US tech party?

If you are exposed to US Tech shares like Facebook, you’ll want to read what top trader Andrew Kinsey has to say...

Stuck between the devil and the deep blue sea

Stuck between the devil and the deep blue sea

Ingham Analytics say that a $2bn rights issue is appearing more likely by the day.

Dr Copper gives a diagnosis

Dr Copper gives a diagnosis

Ingham Analytics say that copper, along with other industrial and agricultural commodity prices, has been on a strong run.

Neither a borrower nor a lender be

Neither a borrower nor a lender be

Ingham Analytics have issued “Neither a borrower nor a lender be” which looks at South African banks from a macro view.

Froth back

Froth back

Ingham Analytics have updated their assessment of Capitec in "Froth back?" in which they analyse the financial situation and flesh out the valuation metrics.

BHP scopes up

BHP scopes up

ESG, short for environmental, social, governance may seem touchy-feely say Ingham Analytics but fund managers and even private investors are taking it seriously.

A blemished trading jewel?

A blemished trading jewel?

Gold shares have weakened from August highs but is it time to revisit?

Added weight

Added weight

Ingham Analytics point out that two major indices are increasing their weighting in gold for a second year.

What a drag

What a drag

Prosus and Naspers report both report interim earnings on 23 November.

Did your seatbelts go to waste?

Did your seatbelts go to waste?

Andrew had warned of volatile times to come and the markets did not disappoint.

Ingham Analytics are shifting more of their analytical gaze toward this huge and growing sector...

Ingham Analytics are shifting more of their analytical gaze toward this huge and growing sector...

These stocks sold off heavily this week on regulatory concerns. Ingham Analytics highlight in this note the relevant implications.

US bounce

US bounce

Monday, 9 November witnessed one of the largest ever market rotations between value versus growth. Find out more here.

What do Standard Bank, Ant Group and Alibaba have in common?

What do Standard Bank, Ant Group and Alibaba have in common?

Ingham Analytics believe that Ant could come back to seek a listing but investors would be more inclined to rate it less richly than a pure...

Buckle up?

Buckle up?

Top trader Andrew Kinsey has sage words for investors in the light of the pandemic lockdowns in Europe and the US presidential elections.

Ant’s away

Ant’s away

Ant and Tencent's WeChat Pay are formidable competitors. Ingham Analytics believe that Tencent has been positively affected by the Ant buzz.

Sink or swim?

Sink or swim?

Ingham Analytics gives a precursor to what they think Tito Mboweni will have to say and give a backdrop to the data.

Irish eyes aren’t smiling

Irish eyes aren’t smiling

Bank share prices look cheap, are they cheap enough?

Road to nowhere?

Road to nowhere?

Warnings signs abound, as was pointed out in "Gold a must?" , and investors need to take heed with the investment choices they make.

Nickel for Elon?

Nickel for Elon?

Last week, Ingham Analytics issued an Energy Monitor, a new theme on developments in the broad energy basket, and today they are issuing their first Mining...

Gold a must?

Gold a must?

Top trader Andrew Kinsey takes this a step further in "Gold a must?" in which he examines historic and current factors affecting gold.

Over a barrel?

Over a barrel?

Ingham Analytics have issued an Energy Monitor, a new theme that looks at developments in the broad energy basket.

Fuhgeddaboudit!

Fuhgeddaboudit!

Investors would be well advised to take stock of labour force, consumption, and savings patterns when tailoring their investment strategies.

Outsized Big Five

Outsized Big Five

Ingham Analytics examines the phenomenon, not of Kruger Park animals, but of the large tech stocks in the US that have been the driver of the...

Ant(icipating) a listing

Ant(icipating) a listing

With Ant Group, an associate company within the Alibaba stable, planning an IPO in Shanghai and Hong Kong the financial services company is opening up disclosure.

All that glitters?

All that glitters?

Ingham Analytics have published their latest thinking on the gold market.

Uh-ho!

Uh-ho!

The tech rally has confounded even the most optimistic bulls. But where to now?

BA(D) 900 news?

BA(D) 900 news?

Ingham Analytics analyses the July 2020 BA900 returns for the South African banking system.

Steel yourself

Steel yourself

If you're a shareholder in Kumba (of which Anglo American owns 70%), BHP, Fortescue and Rio Tinto you'll be interested in what is driving iron ore...

The devil incarnate, Softbank?

The devil incarnate, Softbank?

In the recent US tech market gyrations, the name Softbank has cropped up to take on the role of villain of the piece.

Looking for dips - Capitec

Looking for dips - Capitec

Yesterday, Capitec issued a trading statement. Ingham Analytics have handily issued a Searchlight...

Powell-ing along

Powell-ing along

Ingham Analytics has published a thought-provoking Equity and Credit Markets Insight

Gold Bug?

Gold Bug?

For investors keen on diversifying into gold at a time of worldwide fiscal and monetary stimulus there is a universe of alternatives say Ingham Analytics...

Skin on the bones

Skin on the bones

It is time to revisit banking. Three of the big four have all reported...

An Apple a day…?

An Apple a day…?

Ingham Analytics in "An Apple a day...?" has some thought-provoking stats to consider.

Fed fortune cookie follie

Fed fortune cookie follie

Andrew Kinsey's latest note analyses the Federal Reserve's latest minutes...

Stimulus surge takes the sting out of COVID-19

Stimulus surge takes the sting out of COVID-19

Moody's, the ratings agency, made the point recently that COVID-19 is driving business activity in America.

Rolling in the Deep...

Rolling in the Deep...

It seems an eternity since West Texas Intermediate (WTI) May Futures traded at minus $40/bbl.

Iron ore up, all else down

Iron ore up, all else down

How high can BHP go? It is already a shade below AUD40 on the Australian exchange whilst on the JSE the stock is up 20% year...

Sasol is in the spotlight

Sasol is in the spotlight

Ingham Analytics say that if Sasol management keep flogging the shareholders' silver as they're attempting to do...

Bedazzled

Bedazzled

Gold is rising at the same time as Treasury interest rates are falling. Odd?

Forever blowing bubbles...

Forever blowing bubbles...

If central bankers were football fans, they would have appropriated the West Ham chant of "Forever Blowing Bubbles" a long, long time ago.

Tencent on top of its games

Tencent on top of its games

International mobile games are increasingly important for Tencent, growing ahead of its China revenues.

Tech and the Treasury 10s

Tech and the Treasury 10s

Andrew Kinsey sums up a broken relationship between equity and fixed income and how you'd be well advised to head for cover.

Saudi Arabian stalking horse

Saudi Arabian stalking horse

What is Barloworld worth and what could it be bid for?

Sign up to Ingham Analytics Weekly Research

Sign up to Ingham Analytics Weekly Research

Welcome to Ingham Analytics weekly research summary, highlighting pertinent local and international financial newsflow.

US data provides a chink of light in COVID-19 gloom

US data provides a chink of light in COVID-19 gloom

Savings rates in the United States have mushroomed say Ingham Analytic...

(I)n (M)y (F)ace... and yours

(I)n (M)y (F)ace... and yours

COVID-19 isn't the cause of the swift descent into imminent national bankruptcy...

Rating retreat

Rating retreat

Substantial market share gains have been made by Capitec relative to the Big Four banks.

Fighting inflation

Fighting inflation

For those investors seeking to keep their purchasing power intact, Ingham Analytics examine an inflation-linked bond, similar in design to the States.

Is the Reserve Bank Father Christmas?

Is the Reserve Bank Father Christmas?

Financial plumbing is one the Ingham Analytics core competencies and this latest note on the South African Reserve Bank.

Cold on coal

Cold on coal

Ingham Analytics has issued an updated note on Anglo American.

iQIYI - a s(c) or (t)reaming deal for Tencent?

iQIYI - a s(c) or (t)reaming deal for Tencent?

Ingham Analytics say speculation that Tencent is in talks with Baidu to take a majority shareholding in iQIYI has boosted the share price of Tencent and...

Tito’s shocker less of a shocker for Capitec

Tito’s shocker less of a shocker for Capitec

Of the listed JSE banks, which would you regard as having a lower risk profile, ABSA or Capitec?

BA900 isn’t a British Airways service to Jo’burg

BA900 isn’t a British Airways service to Jo’burg

If you are a shareholder in a listed JSE bank you'd want to be up to speed with the newest data at the best of times...

New hands on the financial tiller

New hands on the financial tiller

Which JSE listed mining company has a market capitalisation 40% larger thank Anglo America...

Kumba, qaphela!

Kumba, qaphela!

The word qaphela gives a clue to Ingham Analyitcs's thinking on Kumba. Do you stay? Do you go? Do you invest more.

What are volatility traders afraid of?

What are volatility traders afraid of?

Volatility returned with a vengeance to US and world markets this week.

What do the currencies say?

What do the currencies say?

Those who understand the nature of foreign exchange will still find profitable niches...

Henry sends a message

Henry sends a message

Sasol is up around 35% in a month. Is this the beginning of a major recovery?

South African banks’ balance sheets surge

South African banks’ balance sheets surge

The question is can South African banks weather liquidity challenges? What about future loan losses?

Illusory value

Illusory value

Ingham Analytics issues a Trader note entitled "Illusory value'which tackles the topic of Prosus and by extension Naspers and Tencent.

Are interest rates in South Africa higher than they could or should be?

Are interest rates in South Africa higher than they could or should be?

Top trader Andrew Kinsey argues that South Africa has had to deal with the pernicious effects of multiple major central banks pursuing colossal programs.

Say buddy, can you spare a dime?

Say buddy, can you spare a dime?

Ingham Analytics caution that South African sovereign debt is increasingly priced for default - how does that impact the banking sector?

Poseidon and the other banking gods

Poseidon and the other banking gods

Poseidon is an appropriate figure of speech as the mythological god was grumpy and powerful - and these are grumpy COVID-19 times.

Iron ore and steel defies COVID-19 macro gloom

Iron ore and steel defies COVID-19 macro gloom

So, the COVID-19 lockdowns around the world must surely have had a devastating impact on mining?

Why do central banks do what they do?

Why do central banks do what they do?

What could the South African Reserve Bank do that would be a fool's errand that will end badly for the country? In "Why do central banks...

Lower for longer on rates?

Lower for longer on rates?

Ingham Analytics poses an interesting question for investors.

Eurozone Stress Fractures – Déjà vu all over again

Eurozone Stress Fractures – Déjà vu all over again

The eurozone members are squabbling among themselves (yet again) around the economic and financial fallout of coronavirus.

A raw state

A raw state

Can Sasol make savings, what about the feasibility of a gigantic rights issue?

Whose telling fibs, equity or credit ?

Whose telling fibs, equity or credit ?

“A negative endowment”

“A negative endowment”

Ingham Analytics have repeatedly warned about exposure to banking stocks in several notes and they say the recent cuts in interest rates reinforce their bearish stance.

Earnings, Earnings, Earnings - What will you pay for them now?

Earnings, Earnings, Earnings - What will you pay for them now?

How far will earnings fall because of COVID-19? And, what would the market be prepared to pay for those earnings?

Ingham Analytics issues an Equity Insight entitled “The volatility of low volatility”

Ingham Analytics issues an Equity Insight entitled “The volatility of low volatility”

On 24 March we observed that the intensity and speed with which the equities meltdown has unfolded has shocked even the most bearish of traders and...

The Market’s Twin Towers” Part 2: Volatility

The Market’s Twin Towers” Part 2: Volatility

Top trader Andrew Kinsey explains why volatility is often overquoted and substantially misunderstood.

The JSE All Share isn’t alone, and neither is the rand

The JSE All Share isn’t alone, and neither is the rand

Ingham Analytics issues an Equity Searchlight entitled "The JSE All Share isn’t alone, and neither is the rand."

The Market’s Twin Towers

The Market’s Twin Towers

Ingham Analytics issues a note on the role of liquidity in the efficient function of markets.

Ingham Analytics issues a note on South African banks entitled ““COVID-19 coup de grâce for banks”

Ingham Analytics issues a note on South African banks entitled ““COVID-19 coup de grâce for banks”

Ingham Analytics has warned in several notes that the poor fiscal situation has repercussions for the big four banks in South Africa.

What do fixed income and equities have in common? A lot says Ingham Analytics.

What do fixed income and equities have in common? A lot says Ingham Analytics.

In another timely Macro Insight at a time of turmoil in markets is titled "Fixed income leads the way for equities" offers valuable pointers- and lessons.

OPEC – minus 1

OPEC – minus 1

Sasol is under considerable pressure, with massive loss of value for shareholders. Ingham Analytics issues a timely Macro Insight on the oil market.

Ingham Analytics issues an Equity and Credit Markets Insight note. The note is titled “In the darkness of tumult a possible chink of light”.

Ingham Analytics issues an Equity and Credit Markets Insight note. The note is titled “In the darkness of tumult a possible chink of light”.

Ingham Analytics say that such is the immediacy and savagery of the international equities sell-off that even if you wanted to liquidate to cash in an...

Investors looking for a bargain-basement JSE opportunity find out more...

Investors looking for a bargain-basement JSE opportunity find out more...

Ingham Analytics issues their latest note on Sasol. The note is titled "What a gas".

2020 budget - backdrop to an outrageous prediction

2020 budget - backdrop to an outrageous prediction

This analysis, timed to take stock of the implications of the 2020 government budget, is a must-read too.

More juice to squeeze, or not?

More juice to squeeze, or not?

Ingham Analytics issues a note on the iron ore sector of mining and features Kumba but also includes BHP, with both companies releasing results on the...

Ingham Analytics issues a note on Sasol. The note is titled “Brent Burden”

Ingham Analytics issues a note on Sasol. The note is titled “Brent Burden”

Brent oil has fallen by 20% since the first week of January and if this persisted for a full financial year it would significantly knock earnings...

Rightsized for better times...

Rightsized for better times...

Ingham Analytics says the building and construction sector of the JSE is a shadow of what it was before the football world cup a decade ago.

Ingham Analytics issues a note on Prosus entitled “Hunger Games”

Ingham Analytics issues a note on Prosus entitled “Hunger Games”

Ingham Analytics has issued a fascinating insight into Prosus.

Ingham Analytics issues a note on Sasol. The note is titled “Here’s why Sasol is likely to bump along at decade lows”.

Ingham Analytics issues a note on Sasol. The note is titled “Here’s why Sasol is likely to bump along at decade lows”.

Ingham Analytics say Sasol has a new CEO and the interim results to be released on his watch on or around 24 February will be weak.

Ingham Analytics issues a note on South African banks entitled “Saxo’s electrifying message”

Ingham Analytics issues a note on South African banks entitled “Saxo’s electrifying message”

Every December for almost two decades, Saxo Bank, a Copenhagen headquartered specialist trading and investment bank, publishes its annual "Outrageous Predictions".

Ingham Analytics issues a note on Kumba Iron Ore Ltd entitled “Earnings forecast to double in 2019”

Ingham Analytics issues a note on Kumba Iron Ore Ltd entitled “Earnings forecast to double in 2019”

Ingham Analytics have updated their earnings on Kumba. Find out more here.

Ingham Analytics issues a note on Prosus entitled “It’s all in Tencent”.

Ingham Analytics issues a note on Prosus entitled “It’s all in Tencent”.

Ingham Analytics has a fascinating insight into Prosus less than three months after the restructuring that resulted in a Euronext listing of Prosus, in which Naspers...

Ingham Analytics issues a note on the big four banks titled

Ingham Analytics issues a note on the big four banks titled "Valuation Update"

For those invested in the banking sector this note from Ingham Analytics is another must-read, providing a balanced perspective and assessment.

This

This "Outperformer" in the banking sector has proven to yield the best result to date...

It has been two months since Ingham Analytics last issued a note on FirstRand.

Ingham Analytics issues a note on Sanlam entitled “Digital driver”.

Ingham Analytics issues a note on Sanlam entitled “Digital driver”.

Since Ingham Analytics issued their previous note on Sanlam the share price has soared by 12% to R81.

Sasol: When mega-projects turn into mega-challenges this share still has value...

Sasol: When mega-projects turn into mega-challenges this share still has value...

Sasol shares have been under pressure since 22 May. Find out more here.

Is this a new dawn for the building and construction sector?

Is this a new dawn for the building and construction sector?

Ingham Analytics issues a note on Construction & Materials company Raubex.

Ingham Analytics issues a note on the healthcare sector of the JSE

Ingham Analytics issues a note on the healthcare sector of the JSE

Ingham Analytics issues a note on the healthcare sector of the JSE.

Ingham Analytics issues a note on BHP

Ingham Analytics issues a note on BHP

Ingham Analytics says that for investors looking to play the recent oil disruption theme, BHP is one stock that benefits from higher oil prices.

Get a compendium of 5 of the latest Ingham Analytics latest Sasol notes absolutely free today only.

Get a compendium of 5 of the latest Ingham Analytics latest Sasol notes absolutely free today only.

Ingham Analytics is close to the action at Sasol and has issued several insightful notes.

Ingham Analytics issues a note on BHP entitled Earnings outlook remains encouraging

Ingham Analytics issues a note on BHP entitled Earnings outlook remains encouraging

Ingham Analytics says that a visit to Port Hedland in the Pilbara region of Western Australia reveals the sheer enormity of iron ore exports from Australia.

FNB in the driving seat

FNB in the driving seat

The reported results for the twelve months ended 30 June 2019 were good with FNB in the driving seat in percentage growth and overall contribution.

Old Mutual - Softness in the H1 F2019 result

Old Mutual - Softness in the H1 F2019 result

Ingham Analytics says that the reported results for the six months ended 30 June 2019 are weak and are off an already tepid historic base.

Sanlam - “A sound result from Sanlam’s Santam stake”

Sanlam - “A sound result from Sanlam’s Santam stake”

Ingham Analytics issues a note entitled "A sound result from Sanlam's Santam stake" following the release of interim results from the short-term insurer, which Sanlam owns...

Sasol - Confidence takes a knock

Sasol - Confidence takes a knock

However, whilst there is noise and angst in the market at this time, depressing the share price to level seen ten years ago, Ingham Analytics do...

Kumba - Where to from here?

Kumba - Where to from here?

Interestingly, in 2016, Anglo American changed its mind about disposing of its large stake in Kumba. There must be good reason for that so does that...

In conversation with Mark Ingham

In conversation with Mark Ingham

Always good to have expert insights in challenging economic times with Ingham Analytics

Sasol - Implications of the Rand at R14/USD

Sasol - Implications of the Rand at R14/USD

Ingham Analytics has adjusted earnings estimates and assume a lower oil price and chemicals prices. Whilst there is negative free cash flow after expansion capital expenditure...

All you need to know on Sasol to politics proof your portfolio

All you need to know on Sasol to politics proof your portfolio

Sasol, despite short-term volatility in the share price, should continue to be considered as a core portfolio holding for South African investors.

Amber light on Imperial

Amber light on Imperial

Imperial Logistics, listed in the Industrial Transportation sector, is forecast to underperform for the foreseeable future. Is there potential for recovery or not? What is the...

Sanlam a preferred Insurance sector stock for Ingham Analytics

Sanlam a preferred Insurance sector stock for Ingham Analytics

Ingham Analytics rate Sanlam, together with Discovery, as the two preferred stocks in the life insurance sector. Sanlam’s income yield is both secure and attractive

Sasol stock still to pump

Sasol stock still to pump

The overreaction to the cost overruns at Sasol’s Lake Charles Chemical Project are correcting as predicted in Ingham Analytics note of last week.

Big four likely to bank 8% growth despite headwinds.

Big four likely to bank 8% growth despite headwinds.

The performance of South Africa's major banks continues to compare favourably to banks in the USA, Canada, and Australia.

Sasol. Market overreaction opens a gap for investors

Sasol. Market overreaction opens a gap for investors

Ingham Analytics hold a view that a price of R450 for Sasol stock is closer to fair value. The market' overreaction has pushed the share price...

Politics-proofing your portfolio – part 2

Politics-proofing your portfolio – part 2

Ahead of the election, the stock market, foreign exchange market, and bond market were relatively calm and post the election there has been relative calm, with...

On the pricey side

On the pricey side

Ingham Analytics has issued a “Trader” note on BHP. This is a good example of a very short report that alerts an opportunistic investor to short...

Politics-proofing your portfolio

Politics-proofing your portfolio

Ahead of the national and provincial elections, the stock market, foreign exchange market, and bond market are relatively calm; but markets can turn in a jiffy.

Shoprite. Deferred compensation

Shoprite. Deferred compensation

Shoprite’s proposal to acquire and cancel its deferred shares to align voting power with economic value and fall in line with good governance practices will require...

The mechanics of the Oceana unbundling

The mechanics of the Oceana unbundling

Tiger Brands recently sold 8 million Oceana shares to Brimstone, a black-controlled and managed investment holding company, thus bolstering BEE ownership credentials. The Group will now...

Pain at the pump, gain on the share

Pain at the pump, gain on the share

The price of 93 ULP petrol in Gauteng is now R15.94 per litre, up from R13.79 per litre in January, a rise of 15,6%. The oil...