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Full ETF Guide for South Africans available now in PDF format to download, print, or share. Find it in the telegram below - more to come
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TODAY'S MARKET BRIEF
JSE 🇿🇦
JSE All Share: +1.77%
JSE Top 40: +2.04%
Industrial 25: +2.23%
Financial 15: +0.68%
Resource 10: +3.11%
Mid Cap: +0.41%
Small Caps: -0.31%
USDZAR: R16.58
Biggest Winners (Large Caps):
- MTN Group +7.41%
- Gold Fields +5.87%
- Impala Platinum +4.47%
- Harmony Gold +4.10%
- Anglogold Ashanti +3.86%
Biggest Losers (Large Caps):
- Sasol -5.61%
- Discovery -0.86%
- Investec PLC -0.54%
- Investec Ltd -0.46%
- Shoprite -0.44%
USA 🇺🇸
Dow Jones +0.98%
S&P500 +0.73%
Nasdaq +0.95%
(Note markets are still open)
Rest of the world
Dax 🇩🇪 +0.64%
CAC 40 🇫🇷 +0.99%
AEX 🇳🇱 -0.02%
Euro Stoxx 50 🇪🇺 +0.78%
Nikkei 225 🇯🇵 -0.33%
Hang Seng 🇭🇰 +0.42%
KOSPI 🇰🇷 +2.24%
Commodities
Gold +1.83%
Silver +3.57%
Platinum +1.54%
Palladium -1.49%
Copper +1.43%
Brent Crude -6.40%
Crude Oil WTI -6.43%
Natural Gas +0.38%
Crypto
Bitcoin -0.94%
Ethereum -0.01%
XRP -0.13%
BNB -1.46%
JSE Midday Brief 🇿🇦
JSE All Share: +1.07%
JSE Top 40: +1.18%
Industrial 25: +1.96%
Financial 15: +0.86%
Resource 10: +0.61%
Mid Cap: +0.43%
Small Caps: +0.25%
Biggest Winners (Large Caps):
- MTN Group +6.71%
- Growthpoint Properties +2.83%
- Anheuser-Busch InBev +2.46%
- Clicks Group +2.38%
- OUTsurance +2.18%
Biggest Losers (Large Caps):
- Sasol -4.23%
- Glencore -0.45%
- ABSA Group -0.04%
- Discovery +0.18%
- Pan African Resources +0.22%
USDZAR: R16.64
Gold +0.19%
Silver +2.12%
Platinum -0.10%
Palladium -1.29%
Copper +0.69%
Brent Crude -4.24%
Crude Oil WTI -4.18%
Upcoming Ex-Dividend Dates on the JSE this Week
Vunani Ltd
Telemasters Holdings
Equities Property Group
PSG Financial Services
Bytes Technology
Prosus
Purchasing shares on or after Ex-Divi date means you won’t receive that dividend
*Ex-Dividend date: The first trading day on which a share trades without entitlement to the declared dividend
Not financial advice, information purposes only
StockWave retweeted
Who moved the Top 40 in 2026:
Naspers, Gold Fields and Prosus cost 7.6 pp between them.
Sasol’s +173% added just 1.45 pp, because it was only ~1.5% of the index.
A concentrated index means a few names decide your return.
stockwave.co.za coming soon
StockWave retweeted
The JSE Top 40 is down -7.9% this year.
Yet 27 of its 41 shares have beaten it, and the median share is actually up 0.3%.
How does an index fall when most of its shares beat it? 🧵
Note: The following data was calculated in RStudio using quantmod -> yahoo finance
JSE Morning Brief 🇿🇦
JSE All Share: +0.46%
JSE Top 40: +0.50%
Industrial 25: +1.05%
Financial 15: +0.26%
Resource 10: +0.15%
Mid Cap: -0.07%
Small Caps: +0.18%
Biggest Winners (Large Caps):
- MTN Group +4.66%
- Naspers +1.27%
- Woolworths +1.22%
- Valterra Platinum +1.21%
- Growthpoint Properties +1.16%
Biggest Losers (Large Caps):
- Sasol -2.63%
- Glencore -0.74%
- Investec Ltd -0.60%
- Discovery -0.50%
- Bid Corporation -0.45%
USDZAR: R16.65
Gold +0.26%
Silver +2.09%
Platinum -0.36%
Palladium -0.53%
Copper +0.57%
Brent Crude -2.71%
Crude Oil WTI -3.20%
Altron Unaudited Consolidated results for the six months ended 31 August 2026 Summary
🔹 Continuing operations revenue increased by 5% to R5.1 billion from R4.8 billion in HY26
🔹 Continuing operations HEPS increased by 14% to 109 cents from 96 cents in HY26
🔹 Total operations HEPS was 108 cents, up 24%, compared with 14% growth for continuing operations, as HY26 included Nexus within discontinued operations for five months
🔹 Netstar revenue increased 6% to R1.3 billion, with annuity revenue growth partially offset by lower hardware sales
🔹 Platforms annuity revenue increased 11% to R2.2 billion, representing 92% of Platform revenue (HY26: 89%)
🔹 Altron FinTech, the largest contributor to operating profit in HY27, increased operating profit by 17% to R300 million
🔹 Interim ordinary dividend of 55 cents per share, up 15% from 48 cents in HY26, with a pay-out ratio of 50%
🔹 The CEO states the Group has confidence in its medium-term growth prospects and sees attractive opportunities to invest behind Netstar and Altron FinTech
🔹 Cash generated from continuing operations increased 32% to R1.0 billion from R762 million in HY26
🔹 Closing net cash position of more than R800 million, after a R755 million dividend payment in June 2026 for the FY26 final ordinary and special dividends
Invicta Holdings Trading Statement for the six months ended 30 September 2026
🔹 Basic earnings per share expected to be between 213 cents and 227 cents, a decrease of between 15% and 21% from 268 cents for the six months ended 30 September 2025
🔹 HEPS expected to be between 189 cents and 199 cents, a decrease of between 25% and 29% from 265 cents for the six months ended 30 September 2025
🔹 The Group states that it has continued to operate in a challenging macroeconomic environment across its markets
🔹 Management states that it has already implemented a number of measures in response to the decline in earnings and operational performance
🔹 Management expects the full benefits of these initiatives to become evident in the next financial year
🔹 The financial information on which the trading statement is based has not been reviewed or reported on by the external auditors
🔹 The Company expects to publish its interim financial results for the six months ended 30 September 2026 on or about 23 November 2026
Best & Worst Performers JSE TOP 40 2026
Top Performers
1️⃣ Sasol +176.30%
2️⃣ Aspen Pharmacare +39.29%
3️⃣ BHP Group +29.56%
4️⃣ Anheuser-Busch InBev +27.17%
5️⃣ Shoprite +25.74%
6️⃣ Glencore +25.34%
7️⃣ OUTsurance +22.36%
8️⃣ Discovery +21.93%
9️⃣ Anglo American +19.68%
🔟 MTN Group +16.77%
Worst Performers
1️⃣ Sibanye-Stillwater -41.19%
2️⃣ Impala Platinum -39.20%
3️⃣ Prosus -39.14%
4️⃣ Naspers -38.96%
5️⃣ Clicks Group -36.14%
6️⃣ Northam Platinum -34.27%
7️⃣ Pepkor -31.33%
8️⃣ Valterra Platinum -25.52%
9️⃣ Harmony Gold -24.45%
🔟 Gold Fields -23.10%
StockWave retweeted
Replying to @StockWaveNews
Exactly it. Naspers started the year at 11% of the Top 40 and is down 39%, costing more than the top six gainers added. Concentration risk is real, and equal weight tells the true story.
The JSE Top 40 is down -7.9% this year.
Yet 27 of its 41 shares have beaten it, and the median share is actually up 0.3%.
How does an index fall when most of its shares beat it? 🧵
Note: The following data was calculated in RStudio using quantmod -> yahoo finance
Add up every share’s contribution, weighted by its size at the time:
📉 Fallers knocked 14.4 pp off the index
📈 Gainers added back 6.2 pp
Naspers alone cost 4.3 pp, more than the top 6 contributors added combined.
Who moved the Top 40 in 2026:
Naspers, Gold Fields and Prosus cost 7.6 pp between them.
Sasol’s +173% added just 1.45 pp, because it was only ~1.5% of the index.
A concentrated index means a few names decide your return.
stockwave.co.za coming soon
TODAY'S MARKET BRIEF
JSE 🇿🇦
JSE All Share: -2.20%
JSE Top 40: -2.42%
Industrial 25: -0.06%
Financial 15: -1.95%
Resource 10: -5.12%
Mid Cap: -1.32%
Small Caps: -0.56%
USDZAR: R16.70
Biggest Winners (Large Caps):
- Anheuser-Busch InBev +2.30%
- British American Tobacco +1.88%
- Sasol +1.19%
- Remgro +1.02%
- MTN Group +1.00%
Biggest Losers (Large Caps):
- Northam Platinum -7.28%
- Pan African Resources -6.95%
- Sibanye-Stillwater -6.43%
- Gold Fields -6.42%
- Harmony Gold -6.32%
USA 🇺🇸
Dow Jones -0.72%
S&P500 -1.64%
Nasdaq -2.65%
(Note markets are still open)
Rest of the world
Dax 🇩🇪 -0.83%
CAC 40 🇫🇷 -0.13%
AEX 🇳🇱 -0.58%
Euro Stoxx 50 🇪🇺 -1.16%
Nikkei 225 🇯🇵 -2.12%
Hang Seng 🇭🇰 +0.86%
KOSPI 🇰🇷 -3.48%
Commodities
Gold -3.07%
Silver -5.87%
Platinum -3.88%
Palladium -2.59%
Copper -1.77%
Brent Crude +2.46%
Crude Oil WTI +1.96%
Natural Gas -2.20%
Crypto
Bitcoin -0.68%
Ethereum -1.38%
XRP +0.98%
BNB +0.06%
JSE Midday Brief 🇿🇦
JSE All Share: -1.03%
JSE Top 40: -1.10%
Industrial 25: +0.53%
Financial 15: -0.71%
Resource 10: -3.14%
Mid Cap: -0.68%
Small Caps: -0.36%
Biggest Winners (Large Caps):
- MTN Group +3.05%
- Anheuser-Busch InBev +2.48%
- British American Tobacco +2.45%
- Sasol +1.18%
- Discovery +0.89%
Biggest Losers (Large Caps):
- Northam Platinum -4.72%
- Sibanye-Stillwater -4.60%
- Impala Platinum -4.35%
- Valterra Platinum -4.18%
- Anglogold Ashanti -4.07%
USDZAR: R16.64
Gold -0.86%
Silver -3.29%
Platinum -3.33%
Palladium -2.89%
Copper -1.39%
Brent Crude +2.35%
Crude Oil WTI +2.13%
Collins Property Group Financial Statements for the Six Months to 31 August 2026 Summary
🔹 Headline earnings per share increased by 27.1% to 75 cents from 59 cents for the six months ended 31 August 2026
🔹 Distributable income per ordinary share was 64 cents for the six months ended 31 August 2026, compared with 63 cents
🔹 Revenue excluding straight-line rental income decreased by 2.2% to R611.05 million from R624.98 million
🔹 The company attributes the revenue decrease to a deliberate and planned outcome of its strategy of selling properties to reduce loan-to-value (LTV)
🔹 Employee benefit expenses increased as a result of the once-off settlement of an old, outdated long term incentive scheme for management
🔹 Group vacancy rate was 1.6%, unchanged from August 2025
🔹 Collection rate was 100%, up from 99% in the previous period
🔹 Net asset value per share increased by 8.8% to 1 774 cents from 1 631 cents
🔹 Approximately R2.7 billion of investment properties are in the process of being sold, which the company expects to reduce LTV from 49% to 43% as disposals complete
🔹 Interim dividend of 55 cents per ordinary share declared, compared with 52 cents for the prior period
Kore Potash Review of Operations for the Quarter ended 30 September 2026
🔹 Kore Potash held $6.4 million in cash as at 30 September 2026
🔹 The Company continues to engage with OWI-RAMS GmbH on the basis of non-binding term sheets signed on 10 June 2025 for the total funding requirement of the Kola Project
🔹 The ESIA was temporarily paused, which the Company attributes to a lack of visibility as to the final design changes to be requested by the new strategic investors; works were suspended at the end of May 2026 to allow finalisation of the FSP
🔹 FEED for the underground design continues due to a change in the supplier of the vertical hoisting system
🔹 The Mining Convention requires construction to commence by 8 June 2027, following the new Mining Law (Law No. 1-2026 of 18 April 2026)
🔹 Discussions with the RoC Government on formalising the way forward on the Mining Convention are continuing
🔹 Two parties are currently engaged in the Formal Sale Process; a new party approached the Company on 8 June 2026 and has begun its due diligence exercise
🔹 The Company released its Half-Year Report for the six months ended 30 June 2026 on 11 September 2026
🔹 The Government has confirmed that the Ministry of Finance shall hold the 10% shareholding of Dougou Potash Mining S.A. and Kola Potash Mining S.A., and the legal process is ongoing
🔹 The ESIA is expected to resume once the strategic investors confirm their required design changes











