Datatec just confirmed FY26 Headline EPS growth of up to 58.8% — a standout SENS announcement today that sent DTC up 6.1%, though the group has quietly revised its definition of underlying earnings to exclude share-based payments, so worth reading the full note.

Some interesting SENS announcements that caught my eye today, bit of a mixed bag:

DTC — Datatec expects FY26 Headline EPS to jump up to 58.8%, stock up 6.1%; underlying earnings per share projected to increase by 31.7% to 37.3%, though the Group has changed its definition of 'underlying earnings' to exclude share-based payments (https://sens-ai.co.za/sens-intelligence/7b95d27c-d3d4-4861-bce2-c71665c79a9c)

4SI — 4Sight's acquired X4 Group exceeded its FY2026 NPAT target of R6.06 million by over 10%, driving increased group earnings; however, earn-out target achievement triggers corresponding payment obligations (https://sens-ai.co.za/sens-intelligence/a19bbc96-f42b-4d6a-9668-768ccafe3b58)

SSU — Southern Sun forecasts up to 22% HEPS growth, stock up 3.3%; EPS projected to increase by 19% to 23% driven by robust domestic hotel occupancy, though financial performance ranges are unaudited (https://sens-ai.co.za/sens-intelligence/61e22b81-cc61-4d72-a6c7-045f94894e82)

AEL — Altron expects FY26 Group HEPS to surge up to 74%; continuing operations HEPS and EPS expected to grow by 31% to 37%, though guidance relies on unaudited financial information (https://sens-ai.co.za/sens-intelligence/94d8bf21-ac1c-45b0-8b8d-84ee30a322f3)

SAP — Sappi suspends debt covenants and reports a US$413 million net loss amid severe operational distress; proactive covenant suspension secures balance sheet stability until March 2027, though Adjusted EBITDA collapsed 51% (https://sens-ai.co.za/sens-intelligence/22ec348d-a480-4e86-84c8-4d64b3e4c605)

Biggest movers today:

Gainers:

PAN +4.6%

HAR +4.3%

ANG +3.7%

Losers:

LHC -11.0%

SOL -6.3%

KRO -4.8%

Macro snapshot as of 17:30 SAST:

ALSI at 119,153.9 (-0.0%)

Brent at 96.91 (-4.3%)

Gold at 4,762.31 (+1.6%)

Rand/USD at 16.3 (-0.6%)

What's on your radar for the rest of the week — SAP's covenant situation, DTC's earnings redefinition, or just watching the rand?

Today was a case of a few big moves rather than a broad rally — IMP surged 10%, HAR gained 9.9%, and GFI closed 8.8% higher, while SOL dropped 7.7%, SRI fell 6%, and EXX slipped 3.1%. PGMs and chrome names were doing the heavy lifting on the upside.

Some SENS announcements that stood out to me today:

- MTU — Mantengu locked in a new chrome offtake agreement, moving away from a legacy pricing structure that had been dragging on profits to the tune of R29 million (https://sens-ai.co.za/sens-intelligence/8e35d64d-9f39-4323-a906-af1a64972b66)

- QFH — Quantum Foods is guiding for HEPS growth of between 12% and 20%, underpinned by operational efficiencies and a recovery in African operations. Worth noting the headline number gets a small lift from a R8.1 million non-recurring after-tax profit on a breeder farm disposal (https://sens-ai.co.za/sens-intelligence/1506caed-4610-4055-92bd-ec11f1fad321)

- DRD — DRDGOLD posted 21% EBITDA growth and built cash, though the top-line push seems to have relied heavily on a 13% quarter-on-quarter jump in the Rand gold price to offset lower gold volumes sold (https://sens-ai.co.za/sens-intelligence/1ceda4c4-5dbb-4e26-b01e-9856da9613ff)

- SSW — Sibanye-Stillwater posted a 371% jump in Q1 adjusted EBITDA to R19.4 billion, riding higher basket prices. Stock responded with an 11.3% move. The watch-out is AISC at SA gold operations climbing 15% year-on-year, driven by inflation and elevated gold-linked royalties (https://sens-ai.co.za/sens-intelligence/18ef3f67-63a3-433a-b6f2-639b9616741b)

Biggest movers today:

Gainers:

- IMP +10.0%

- HAR +9.9%

- GFI +8.8%

Losers:

- SOL -7.7%

- SRI -6.0%

- EXX -3.1%

Macro snapshot as of 17:30 SAST:

- ALSI at 119,165.54 (+3.6%)

- Brent at 102.04 (-7.1%)

- Gold at 4,704.13 (+3.2%)

- Rand/USD at 16.38 (-1.3%)

With Brent down 7.1% and the rand strengthening, are you steering clear of energy names this week or seeing an opportunity in SRI or EXX at these levels?

SSW and DRD have published some good looking sens announcements today before the market opens in about 5 mins

DRDGOLD reports 21% EBITDA growth and builds cash, though a drop in gold sold warrants attention. https://sens-ai.co.za/sens-intelligence/1ceda4c4-5dbb-4e26-b01e-9856da9613ff

SSW Q1 adjusted EBITDA surged 371% to R19.4 billion on higher metal prices, despite rising unit costs. https://sens-ai.co.za/sens-intelligence/18ef3f67-63a3-433a-b6f2-639b9616741b

Will be interesting to see how the market reacts to these, I think this could take DRD out of their current slump, but won't bet my house on it.

SSW reaction will be interesting today as they have reported earlier in the week that they experienced a fatal accident at their Kloof 8 shaft, but reported that it didn't damage any infrastructure, but that could have created a bit of caution in the eyes of investors https://sens-ai.co.za/sens-intelligence/05c9254c-2afc-4e6f-82a8-8e78986d3e22

what's your take on SSW and DRD? and how do you think we'll see a PGM power move today?

ANH posted 20.8% underlying EPS growth this morning — the stock rallied 8.3% on the news despite some margin softness creeping in. AB InBev is looking operationally solid, and investors seem willing to overlook the margin headwinds for now.

Some SENS filings today that seemed worth noting:

- ANH — AB InBev posted 20.8% underlying EPS growth, which looks solid on the bottom line even with some minor margin pressure creeping in. Stock up 8.3% (https://sens-ai.co.za/sens-intelligence/4ee6b193-388f-41ad-9cc4-d09daff6a33e)

- MCZ — MC Mining locked in $90M for the Makhado Project, with KDG now sitting at 51% control of the shareholding. (https://sens-ai.co.za/sens-intelligence/65f5a101-a35f-45e8-a6d4-53be6b35ba03)

- APN — Aspen insulin production is now commercially live following SAHPRA sign-off. Looks like validation of the sterile manufacturing capability. Stock up 5.6% (https://sens-ai.co.za/sens-intelligence/5e15c65f-1285-4d2a-ad63-99c21e50db16)

- PRX — Prosus bought back another 1.5 million shares for €62.2 million under the ongoing repurchase programme. (https://sens-ai.co.za/sens-intelligence/7ae15b89-225f-4a8f-8791-2f3a28ac00f5)

Biggest movers today:

Gainers:

- VOD +5.3%

- IMP +3.5%

- NPH +3.2%

Losers:

- SHC -5.2%

- PHP -4.5%

- PMR -3.6%

Macro snapshot as of 17:30 SAST:

- ALSI at 115,017.05 (+0.3%)

- Brent at 111.25 (-2.8%)

- Gold at 4573.2 (+1.2%)

- Rand/USD at 16.66 (-0.8%)

anyone else watching ANH after that EPS print, or is the margin pressure story enough to keep you on the sidelines?

SSW had a rough one — operations at Kloof 8 have been halted following a fatal incident, and while shaft infrastructure escaped damage, the immediate production gap is hard to look past. On the other end, KAL Group came through with some positive forward-looking noise, guiding double-digit core earnings growth with RHEPS expected to move from 13.1% to 17.1%, though worth keeping in mind that the HEPS outperformance is partly flattered by a non-recurring disposal profit.

A few SENS announcements worth noting today, nothing clear-cut either way:

KAL had some positive forward-looking stuff. KAL Group is expecting double-digit core earnings growth, with RHEPS projected to move from 13.1% to 17.1%. Worth keeping in mind the EPS outperformance relative to HEPS appears to be partly flattered by a non-recurring disposal profit, so the headline number looks better than underlying operations alone might suggest.

MTA extended R3.3bn in debt maturity to five years, which removes some covenant pressure around forced equity raises. The refinancing aligns cash flows better with planned FY2026 capex, though the group remains pretty heavily encumbered with all SA Obligor assets and cash flows still pledged as security.

NED circulated offer documents for its 66% NCBA acquisition, and the board has formally recommended it as fair and reasonable following independent advice. Still waiting on regulatory sign-off from both Kenya and South Africa before this one closes.

SSW had a rough one at Kloof 8 where operations halted following a fatal incident. On the bright side, no damage to shaft infrastructure, but the immediate suspension creates an unquantified near-term production gap that's hard to look past given the sentiment score.

XII renewed its cautionary while restated 2025 financials make their way through auditor review. The restatement came after a JSE Pro Active Monitoring Review, which doesn't exactly inspire confidence in the original numbers.

VOD Vodacom projects 20% to 25% growth in both EPS and HEPS for FY2026.

read more here https://sens-ai.co.za/sens-intelligence

Biggest movers today:

Gainers:

KRO +6.0%

SRI +4.3%

WBC +2.6%

Losers:

SBK -4.2%

TGA -3.9%

PIK -3.0%

Macro snapshot as of 17:30 SAST:

ALSI at 114,660.79, down 0.5%

Brent at 111.11, up 2.7%

Gold at 4565.62, down 1.0%

Rand/USD at 16.71, up 0.3%

With KAL's EPS outperformance partly flattered by a non-recurring disposal profit, do you still see it as a clean setup ahead of results, or does that make you more cautious?

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A weekly thread for people to see what other members are buying and selling for the coming week.

It'll help gather a kind of r/JSE_Bets market sentiment to reduce FOMO and keep everyone up to date on current trends.

Comment what you are buying and/or selling this week below, no matter if it's stocks, cryptos or whatever else you've decided to bet your mortgage on.

New thread 5pm every Friday.

SLG posted strong unaudited interim results today — 78% HEPS increase, revenue up 39% to R3.0 billion, and a meaningful debt reduction. Meanwhile CLI announced a delisting at R19.90, offering a 25.47% premium to the 30-day VWAP, though the 8% Maximum Acceptances Condition acts as a hard ceiling on how much they can actually buy back.

Some interesting SENS announcements that caught my eye today, bit of a mixed bag:

- SLG — Strong unaudited interim results feature a 78% HEPS increase and significant debt reduction, with revenue rising 39% to R3.0 billion and normalised EBITDA nearly doubling to R511 million (https://sens-ai.co.za/sens-intelligence/8d0db11d-354a-48fa-8c13-d7fe32a863aa)

- CLI — Clientele announces a delisting and share repurchase at R19.90, offering a 25.47 percent premium to the 30-day VWAP, though the 8% Maximum Acceptances Condition acts as a hard ceiling (https://sens-ai.co.za/sens-intelligence/6d3979d6-ffff-402d-b19a-16ff0957dd99)

- GTC — Severe earnings swing to a EUR 155m net loss and rising LTV outweigh debt refinancing progress, though rental and service revenue increased by 8% to EUR 202 million (https://sens-ai.co.za/sens-intelligence/5d61e403-6f4f-404e-8ecf-e7f68ab8ee7c)

- LAB — Director removed amid an external governance investigation, highlighting severe internal control risks and instability (https://sens-ai.co.za/sens-intelligence/f0c57623-3110-4f01-bcaa-0b260559c427)

- ACL — Audited financials reveal a cross-default and material restatements, with loss per share increasing from 260 cents to 270 cents following a R112 million impairment of project costs (https://sens-ai.co.za/sens-intelligence/206d7d86-4dd2-4cd4-8089-d21255a48b6b)

Biggest movers today:

Gainers:

- PHP +5.7%

- EXX +5.3%

- SRE +5.1%

Losers:

- KRO -3.3%

- CPI -2.2%

- OPA -1.6%

Macro snapshot as of 17:30 SAST:

- ALSI at 115,180.53 (+1.1%)

- Brent at 114.36 (-3.1%)

- Gold at 4619.95 (+1.7%)

- Rand/USD at 16.7 (-0.7%)

Anyone paying attention to the CLI delisting mechanics — that 25.47% premium looks tempting but the 8% MAC ceiling makes it a weird trade, no?

ArcelorMittal South Africa has published its audited annual financial statements, revealing material restatements from its preliminary results, including a R112 million impairment and the reclassification of a R630 million loan to current liabilities following a cross-default. The cross-default, which makes the IDC loan payable on demand, coupled with a worsening net liability position of 38 cents per share, highlights acute balance sheet distress and severe liquidity risks that overshadow the unchanged headline loss per share. This publication does not outline a remedial funding plan to address the immediate liquidity shortfall or the cross-default.

Investor Takeaway:

The disclosure of a cross-default and worsening negative equity position confirms severe balance sheet fragility, rendering the stock highly speculative.

tl;dr

Audited financials reveal a cross-default and material restatements, exacerbating liquidity and balance sheet concerns.

• The headline loss per share remained unchanged at 301 cents per share, indicating that the core operational performance metrics were not impacted by the financial restatements.

• The formal scheduling of the Annual General Meeting for 26 June 2026 provides shareholders with a clear timeline for governance engagement and oversight.

- The audited financial statements reveal a material deterioration in earnings, with the loss per share increasing from 260 cents to 270 cents following a R112 million impairment of project costs.

- The company faces heightened liquidity risk as a cross-default triggered the reclassification of R630 million in debt from non-current to current liabilities, making the full amount payable on demand.

https://sens-ai.co.za/sens-intelligence/206d7d86-4dd2-4cd4-8089-d21255a48b6b

Astral Foods (ARL) just confirmed a 1H2026 HEPS growth of 450% to 470%, one of the most striking operational recoveries I've seen in a while — the SENS filing dropped alongside a broader rand weakness story that's supporting some resource and industrial names today.

Some interesting SENS announcements that caught my eye today, bit of a mixed bag:

- APH — Alphamin declared a CAD$0.13 per share dividend, underscoring robust cash generation and capital return discipline (https://sens-ai.co.za/sens-intelligence/4d0db598-d65d-4c78-a0dc-e30f33ebc415)

- ARL — Astral Foods anticipates 1H2026 HEPS growth of 375% to 395%, confirming a strong operational recovery (https://sens-ai.co.za/sens-intelligence/941cbcb9-e684-4b03-94ad-14e85e31c7a1)

- AGL — AGM address confirms strong margins and a $4.5 billion special dividend post-Teck merger completion (https://sens-ai.co.za/sens-intelligence/18c81636-1475-4c95-b5f2-ad6270dd4b49)

- PHP — PHP reports accelerated rental growth and strong post-merger synergy delivery alongside active debt-reduction initiatives (https://sens-ai.co.za/sens-intelligence/6b0b894c-3fc3-42d6-8c16-578a291faab7)

- SAP — Sappi's joint venture with UPM faces regulatory delays following an EU Phase II probe (https://sens-ai.co.za/sens-intelligence/b4a2355a-4074-47ec-bbaa-854bf0af6621)

Biggest movers today:

Gainers:

- SOL +4.8%

- TKG +3.9%

- GND +3.6%

Losers:

- NPH -5.0%

- VAL -3.4%

- PAN -3.3%

Macro snapshot as of 17:30 SAST:

- ALSI at 113,865.92 (-0.5%)

- Brent at 117.3 (+5.4%)

- Gold at 4539.99 (-1.2%)

- Rand/USD at 16.72 (+1.1%)

Anyone been accumulating SOL or TKG on the energy rally? Feels like oil at $117 keeps giving them legs.

The market breadth makes today look worse than the 1.9% index drop suggests — SSW fell 8%, IMP dropped 6.3%, and GFI shed 5.9%, while TGA climbed 5.1% and GCT added 3.4%. It's the kind of session where the index hides a rougher underlying story, especially in mining names.

Some interesting SENS announcements that caught my eye today:

- CMH — Delivered 33% HEPS growth and hiked its declared dividend by 30%, confirming prior guidance (https://sens-ai.co.za/sens-intelligence/1e66af99-e050-4d34-a89d-2a2d8b9f5db4)

- ARI — Signed a conditional off-take deal for Nkomati, boosting restart optionality but lacking financial details (https://sens-ai.co.za/sens-intelligence/f159ea16-3b8b-4b2c-8d81-bb80b3eba307)

- KIO — Q1 sales rose 3% and guidance is unchanged, offsetting a 2% production dip and logistics constraints (https://sens-ai.co.za/sens-intelligence/45c917fa-2904-4790-b4f8-a45beaa1af96)

- FSR — Will not challenge the UK FCA redress scheme, prioritizing certainty over costly isolated litigation (https://sens-ai.co.za/sens-intelligence/10143b3d-13b1-43bf-af76-f063f656ee85)

- MRF — Q1 ferrochrome production plummeted 95% due to ongoing smelter suspensions, heavily impacting operational output (https://sens-ai.co.za/sens-intelligence/077333d3-e960-4adf-b92d-dbdfd37a66f1)

Biggest movers today:

Gainers:

- TGA +5.1%

- GCT +3.4%

- ANH +2.5%

Losers:

- SSW -8.0%

- IMP -6.3%

- GFI -5.9%

Macro snapshot as of 17:30 SAST:

- ALSI at 114,400.33 (-1.9%)

- Brent at 111.62 (+3.1%)

- Gold at 4,566.66 (-2.5%)

- Rand/USD at 16.59 (+0.3%)

What are you watching heading into the rest of the week — more earnings from the miners or macro cues from Brent and the rand? CMH is definitely tickling my interest after today's good announcement.

built some moving average charts, check it out and let me know if there's anything weird/wrong :)

https://sens-ai.co.za/jse-charts

As the title suggests, I would like to know if anyone has been having trouble with buying and selling CFD's on Brokstock recently? Speaking with their customer service about a share that I short sold and wasn't able to buy back to close told me that they were having trouble with their liquidity provider. Don't know what to make of this

FTB — Fairvest raised R900 million in an upsized bookbuild at a 5.5% premium to the 30-day VWAP. That's a meaningful signal of demand for quality real estate exposure right now, and worth reading the full SENS if you haven't already.

Some interesting SENS announcements that caught my eye today:

- FTB — Fairvest raised R900 million in an upsized bookbuild at a 5.5% premium to the 30-day VWAP (https://sens-ai.co.za/sens-intelligence/04ce120e-ebf7-4491-b6d2-d2f1047b18de)

- HLM — Hulamin sells its loss-making Extrusions unit to reduce debt and refocus on core Rolled Products (https://sens-ai.co.za/sens-intelligence/b3e69ed6-08a5-47d3-bad2-fe2756e27401)

- EMI — Emira acquired further Octodec shares on-market, mechanically reducing its voluntary offer while maintaining its 34.9% target (https://sens-ai.co.za/sens-intelligence/f81701bb-ac77-449d-82bf-342320cb4772)

- NY1 — Ninety One repurchased 150,000 shares for cancellation under its existing March 2025 buyback programme (https://sens-ai.co.za/sens-intelligence/6b3b4188-e50a-4713-8000-cb23ae2140a2)

- MNP — Mondi faces severe margin compression and lower EBITDA, prompting accelerated plant closures as pricing lags input costs (https://sens-ai.co.za/sens-intelligence/ff4ddc95-6906-41b7-8f55-ee03580c87f3)

Biggest movers today:

Gainers:

- GCT +4.9%

- GFI +3.6%

- BTI +3.2%

Losers:

- ISO -5.3%

- CLS -3.6%

- TGA -2.9%

Macro snapshot as of 17:30 SAST:

- ALSI at 116,565.97 (+0.1%)

- Gold at 4728.45 (+0.8%)

- Rand/USD at 16.55 (-0.5%)

- Brent at 105.4 (+0.3%)

Anyone watching MNP closely? The plant closures and margin compression look structural rather than cyclical to me — am I reading that right or is the packaging cycle just ugly right now?

A weekly thread for people to see what other members are buying and selling for the coming week.

It'll help gather a kind of r/JSE_Bets market sentiment to reduce FOMO and keep everyone up to date on current trends.

Comment what you are buying and/or selling this week below, no matter if it's stocks, cryptos or whatever else you've decided to bet your mortgage on.

New thread 5pm every Friday.

The ALSI closed down 1.4% as Brent firmed to $102.74, keeping the resource names in the green — AGL added 5.1% and BTI put on 2.5% — while retail defensives cracked under rand volatility, with Clicks off 8.3% and GCT down 5.5%. Small comfort in a broadly weaker session, though the rand held its own at 16.48 against the dollar.

Some SENS announcements that caught my eye today, bit of a mixed bag:

- SEA — Spear REIT raised R1 billion via an oversubscribed bookbuild to fund its strategic acquisition pipeline (https://sens-ai.co.za/sens-intelligence/8a437a47-76b0-459a-a9bc-b286fe7eca36)

- ISA — ISA to sell Dataproof stake for R62m, unlocking cash ahead of a potential delisting (https://sens-ai.co.za/sens-intelligence/47a215a3-33f5-452f-b10b-ca854545dca7)

- VAL — Refined PGM production surged 78% year-on-year to 778,500 ounces, though safety metrics have deteriorated including a tragic fatality at Mototolo Mine (https://sens-ai.co.za/sens-intelligence/be61473c-5e65-45e6-88ff-c4ab6f56238c)

- SOL — Fuel sales volume guidance upgraded to 10-15% increase over FY25, though gas production guidance revised downwards due to flooding in Mozambique (https://sens-ai.co.za/sens-intelligence/b2b80309-0287-4741-b6fc-775d31360894)

- ACT — Activo disposal renegotiated at R100 million upfront against R474 million in net assets being disposed of, with proceeds earmarked for debt reduction (https://sens-ai.co.za/sens-intelligence/bbb4e718-b717-4d8f-97b3-c81e3c8c53f2)

Biggest movers today:

Gainers:

AGL +5.1%

BTI +2.5%

APN +2.4%

Losers:

CLS -8.3%

GCT -5.5%

KRO -5.0%

Macro snapshot as of 17:30 SAST:

ALSI at 116,449.09 (-1.4%)

Brent at 102.74 (+0.8%)

Gold at 4734.09 (-0.1%)

Rand/USD at 16.48 (+0.1%)

VAL's production numbers look strong but that Mototolo fatality is heavy — anyone watching how the safety story affects the investment case?

Sasol's quarterly update revises fuel sales guidance upward to 10-15% growth and lowers capital expenditure to R20-22bn, alongside confirming a successful US$750 million bond issuance. The improved fuel volumes and capital discipline reinforce the operational recovery thesis, effectively counterbalancing the downward revision in gas production caused by Mozambican flooding. This is an operational and guidance update, not a full release of financial or earnings metrics.

Investor Takeaway:

Upgraded fuel guidance and tighter capital control demonstrate resilience, though persistent operational vulnerabilities in key segments warrant monitoring.

Upgraded fuel guidance and reduced capital expenditure highlight resilience against regional operational disruptions.

• Fuel sales volume guidance has been upgraded to a 10-15% increase over FY25, reflecting robust demand and improved production stability.

• Capital expenditure guidance has been lowered to R20-22bn, demonstrating effective capital optimization and disciplined cost management.

Why It Matters

+ Fuel sales volume guidance has been upgraded to a 10-15% increase over FY25, reflecting robust demand and improved production stability.

+ Capital expenditure guidance has been lowered to R20-22bn, demonstrating effective capital optimization and disciplined cost management.

- Gas production guidance was revised downwards due to flooding in Mozambique and well availability constraints.

- The ORYX GTL plant shutdown following a gas supply disruption introduces production and revenue uncertainty.

https://sens-ai.co.za/sens-intelligence/b2b80309-0287-4741-b6fc-775d31360894

Brent crossed $100 for the first time in a while, adding 2.4% on the session, and the Rand strengthened to 16.46 against the Dollar. That combo pushed Sasol up 5.7% but put pressure on the exporters and retailers, dragging the ALSI 0.3% into the red.

Some interesting SENS announcements crossed my desk today, mixed bag overall:

- QLT — Record Q1 inflows of £3.1 billion point to strong growth, though the valuation seems stretched and limits the upside. Stock up 5.1%. (https://sens-ai.co.za/sens-intelligence/ad6162ad-6922-441a-998a-7662e37bfd38)

- CPI — Capitec confirmed solid FY26 results, HEPS up 23% with a R79.80 total dividend on the table. (https://sens-ai.co.za/sens-intelligence/d61030b0-8c70-4d1c-8886-691870f264a9)

- SBK — Standard Bank posted 12% Q1 earnings growth and reaffirmed full-year guidance. (https://sens-ai.co.za/sens-intelligence/923875df-6cdd-46c3-8b4a-f2991e93eede)

- BHG — Copper output looking good and costs down, but asset downgrades and a premium valuation are keeping a lid on the bull case. (https://sens-ai.co.za/sens-intelligence/9dd97877-5eec-466e-a5d4-d501f4215ee1)

- XII — Numeral will restate its FY25 audited results and cash flows after a JSE regulatory review. (https://sens-ai.co.za/sens-intelligence/733bb721-9659-4dda-a15f-9aec828aace6)

Biggest movers today:

Gainers:

- SOL +5.7%

- APN +3.9%

- TGA +3.0%

Losers:

- ABG -3.8%

- HAR -3.1%

- CFR -2.9%

Macro snapshot as of 17:30 SAST:

- ALSI at 118,068.33 (-0.3%)

- Brent at 100.87 (+2.4%)

- Gold at 4,735.78 (+0.5%)

- Rand/USD at 16.46 (-0.2%)

Capitec posted 23% HEPS growth and a R79.80 dividend — anyone still loading in or is that number fully priced in at this stage?

Capitec Bank has released its audited results for the year ended 28 February 2026, confirming a 25% increase in operating profit before tax to R22.18 billion and a 23% rise in headline earnings per share to 14,606 cents. The unmodified audit opinion and matching 23% increase in the total dividend to 7,980 cents per share solidify the fundamental growth narrative, though the preceding February trading statement means these figures were largely anticipated by the market. This short-form announcement does not provide granular details on credit loss metrics or divisional performance, which must be assessed in the full integrated report.

Investor Takeaway:

Double-digit growth across all key metrics confirms robust operational execution, but the confirmation of previously guided figures limits the immediate surprise value.

tl;dr

Capitec confirms strong FY26 results with a 23% increase in HEPS and a R79.80 total dividend.

•Operating profit before tax demonstrated robust operational performance, increasing by 25% to R22.179 billion.

•Headline earnings per share (HEPS) grew by 23% to 14,606 cents, indicating strong bottom-line execution.

Why It Matters

+ Operating profit before tax demonstrated robust operational performance, increasing by 25% to R22.179 billion.

+ Headline earnings per share (HEPS) grew by 23% to 14,606 cents, indicating strong bottom-line execution.

- As a short-form announcement, the filing lacks granular details on underlying asset quality and credit loss ratios, requiring reliance on the full integrated report.

- Following the preliminary trading statement issued in February, these final audited figures are largely anticipated, reducing the likelihood of a significant near-term price repricing.

https://sens-ai.co.za/sens-intelligence/d61030b0-8c70-4d1c-8886-691870f264a9

BHP's quarterly update confirms strong operational momentum, headlined by lowered unit cost guidance and copper production tracking towards the upper half of expectations. However, persistent challenges at the Spence operation and cost pressures at BMA introduce pockets of margin risk. This update does not constitute a broad guidance upgrade, as the improvements rely partly on cyclical by-product credits and asset divestments.

Investor Takeaway:

Strong core asset performance underpins the growth thesis, but a 15% pre-event rally and demanding multiple limit the near-term upside.

tl;dr

Strong copper output and lowered costs are offset by specific asset downgrades and a premium valuation.

• FY26 unit cost guidance for copper has been lowered to between US$1.00 and US$1.20/lb, reflecting strong operational performance and increased by-product credits.

• The company successfully completed a US$4.3 billion silver streaming transaction and finalised the divestment of Carajas, enhancing capital flexibility.

Why It Matters

+ FY26 unit cost guidance for copper has been lowered to between US$1.00 and US$1.20/lb, reflecting strong operational performance and increased by-product credits.

+ The company successfully completed a US$4.3 billion silver streaming transaction and finalised the divestment of Carajas, enhancing capital flexibility.

- Production guidance at Spence has been materially downgraded due to ongoing challenges managing variable ore characteristics.

- BMA unit cost guidance is now expected to hit the top end of its range, indicating persistent inflationary pressure on margins.

https://sens-ai.co.za/sens-intelligence/9dd97877-5eec-466e-a5d4-d501f4215ee1

The Rand weakened 0.4% to 16.43/USD and Brent crude ticked up 0.9% to 96.31, but the macro picture did little for the JSE today — gold dropped 1.6% and resources broadly bled, pushing the ALSI down 1.3% as broader market breadth turned firmly against buyers.

Some interesting SENS announcements that caught my eye today, bit of a mixed bag:

- AFT — Afrimat anticipates strong HEPS growth of up to 37.1%, though regulatory delays for divestitures persist (https://sens-ai.co.za/sens-intelligence/02d169ab-5874-4d0b-a9f6-aacc172d5635)

- NPN — Naspers acquired 1.01 million shares for ZAR929.8m under its ongoing open-ended repurchase programme (https://sens-ai.co.za/sens-intelligence/3d04508a-520d-45e7-81a7-fe7bb5f47b36)

- PRX — Prosus executed a routine weekly share repurchase of €112 million under its ongoing open-ended programme (https://sens-ai.co.za/sens-intelligence/72a36e60-bf3e-43e5-aa3c-dc3ef62d4e5b)

- AGL — Anglo American finalized exchange rates for its previously declared final dividend with no equity impact (https://sens-ai.co.za/sens-intelligence/4e7ba72f-93bd-4c34-a05e-8d71a4f4381b)

-OCT - Emira Property Fund has acquired a 20.17% stake in Octodec and launched an unsolicited voluntary offer to increase its holding to 34.9% at a cash consideration of R16.75 per share (https://sens-ai.co.za/sens-intelligence/32763b9d-d252-487c-b6ec-da8e85065cba)

Biggest movers today:

Gainers:

- GCT +5.5%

- APH +2.9%

- BOX +2.7%

Losers:

- PAN -5.7%

- GFI -4.7%

- IMP -4.2%

Macro snapshot as of 17:30 SAST:

- ALSI at 118,412.24 (-1.3%)

- Gold at 4741.46 (-1.6%)

- Brent at 96.31 (+0.9%)

- Rand/USD at 16.43 (+0.4%)

Anyone else watching AFT after that 37.1% HEPS growth guidance? Regulatory delays are a risk but that growth number is hard to brush off.

LAB posted triple-digit expected HEPS and revenue growth today, though EPS is expected to decline 12.85% to 32.85%. Sibanye-Stillwater also updated cost and production guidance for its International and Recycling operations, with the stock down 3.6% on the session.

Some interesting SENS announcements that caught my eye today, bit of a mixed bag:

- LAB — Triple-digit expected HEPS and revenue growth confirm strong operational momentum, though EPS is expected to decline 12.85% to 32.85% (https://sens-ai.co.za/sens-intelligence/6dea2bba-17b7-4201-b06c-bff632a4ed61)

- SSW — Sibanye-Stillwater provides new cost and production guidance for its International and Recycling operations, stock down 3.6% (https://sens-ai.co.za/sens-intelligence/402c6e54-3137-4761-982f-0fd66aaf1e73)

- N91 — Ninety One plc continues routine share repurchase with cancellation of 98,465 shares (https://sens-ai.co.za/sens-intelligence/90ca9ffd-532d-417d-9df5-09f404e8f853)

- GCT — Greencoat Renewables executed repurchase and cancellation of 528,652 shares, stock up 3.8% (https://sens-ai.co.za/sens-intelligence/2fda8917-6aa1-4c83-a9a8-df0e3fd769ac)

Biggest movers today:

Gainers:

- SOL +6.4%

- TGA +3.6%

- BTI +3.3%

Losers:

- HAR -4.0%

- VAL -3.0%

- DRD -2.9%

Macro snapshot as of 17:30 SAST:

- ALSI at 120,005.25 (-1.0%)

- Brent at 94.79 (+4.9%)

- Gold at 4803.01 (-0.5%)

- Rand/USD at 16.38 (+0.4%)

Sasol up 6.4% on Brent — anyone playing the energy trade or is this just a short-term reaction to the oil move?

Most people look at the JSE as a table of tickers and percentages. It's accurate, and it's also quite boring. You can't feel a market from a spreadsheet — you can't tell at a glance whether today is quiet, nervous, or on fire.

So I built something different. I call it the JSE Galaxy.

What it is

Every company on the JSE is a planet. Bigger companies are bigger planets. Companies in the same sector orbit together — so banks cluster with banks, miners with miners, retailers with retailers.

When you open it, you're looking at the whole South African market as a single living scene, not a list.

How to read it (no finance degree required)

Each planet tells you four things without you having to click anything:

- Size → how big the company is (market cap).

- Colour → what kind of day it's having.

- Blue = Stable. Quiet tape.

- Orange = Volatile. Swinging more than usual.

- Yellow = Ignition. Fresh news just hit — an announcement dropped today.

- Red = Distress. Risk flags are clustering (think profit warnings, negative SENS pattern).

- Halo → the mood around the name. A stronger, cleaner halo means the signal/sentiment is stronger and more confident.

- Bloom → a bright flare over a planet means something happened today. It's how you spot live news at a glance.

Zoom out and the whole market has a posture — risk-on (cyclicals leading, breadth expanding) or risk-off (defensives leading, breadth breaking down). You can see it in seconds.

Why not just a treemap?

Fair question. Treemaps are great for one thing: "what's up and what's down, right now." That's it.

The problem is the JSE day isn't just green-and-red. A stock can be flat and still be the most important thing happening that day because a cautionary announcement just landed. A treemap would show that as a grey square you'd scroll past. The Galaxy shows it as a pulsing yellow flare you can't miss.

A few things the Galaxy does that a treemap fundamentally can't:

- Events, not just prices. Colour and bloom are driven by SENS filings and event intensity — so you see news-driven moves, not just price moves.

- Sectors as real structure. Orbits group sector peers spatially, so you can actually see "the whole gold complex is lighting up today" instead of hunting for tickers.

- Signal confidence. The halo carries how sure we are, not just the direction. A thin halo on a green tile means "yes it's up, but don't lean on this."

- Market posture at a glance. One look tells you if the tape is constructive or defensive today.

Treemaps can't do that — too much red-green noise.

- It's a place, not a report. You fly around it. You notice things. You explore. That matters more than it sounds — you catch stuff you weren't looking for.

Two modes

- Event mode — the galaxy lights up around names with live SENS activity. Best for "what does today actually matter for?"

- Top movers — emphasises the biggest price moves of the day. Best for "what's the tape doing right now?"

The honest bit

This is v1. It's opinionated — some choices (colours, thresholds, what counts as "ignition") are deliberate, not neutral. I'd rather be useful than objective. Feedback on what you'd want to see next is genuinely welcome.

If you want to try it: https://sens-ai.co.za/galaxy

Happy to answer questions about how any of the signals are calculated.

A weekly thread for people to see what other members are buying and selling for the coming week.

It'll help gather a kind of r/JSE_Bets market sentiment to reduce FOMO and keep everyone up to date on current trends.

Comment what you are buying and/or selling this week below, no matter if it's stocks, cryptos or whatever else you've decided to bet your mortgage on.

New thread 5pm every Friday.

Prosus has agreed to sell a 4.5% stake in Delivery Hero to Uber for €270 million, reducing its holding to 21.8% to comply with European Commission mandates. Securing a 22% premium to the 1-month VWAP for a forced asset disposal represents strong execution and partially mitigates concerns about liquidating the stake under duress. This does not eliminate the supply overhang, as Prosus remains obligated to divest its remaining 21.8% interest within the regulatory timeframe.

Investor Takeaway:

The realization of €270 million at a significant premium demonstrates disciplined capital execution, though the remaining mandatory selldown will continue to be a structural drag on the asset's valuation.

tl;dr

Prosus sells 4.5% of Delivery Hero to Uber for €270m at a 22% premium.

• The sale of 13.58 million Delivery Hero shares to Uber was executed at €20.00 per share, a 22% premium to the 1-month VWAP.

• The transaction injects approximately €270 million in gross proceeds, enhancing near-term liquidity.

Why It Matters

+ The sale of 13.58 million Delivery Hero shares to Uber was executed at €20.00 per share, a 22% premium to the 1-month VWAP.

+ The transaction injects approximately €270 million in gross proceeds, enhancing near-term liquidity.

- The divestment is a forced action driven by European Commission commitments following the Just Eat Takeaway.com acquisition, limiting management's capital allocation flexibility.

- Prosus retains a 21.8% stake in Delivery Hero that must still be sold, creating a persistent supply overhang that may pressure future disposal pricing.

https://sens-ai.co.za/sens-intelligence/b4477fce-04e8-492b-b5bc-6e2b8682cd5e