Episode 531
Load shedding impact revealed by weaker GDP (#531)
WorldWide Markets with Simon Brown · JustOneLap.com
March 8, 202317m 33s
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Show Notes
Simon Shares
- The local Q4 GDP came in at -1.3%, worse than expected -0.4% and shows the real pain of load shedding and Transnet issues. Q1 2023 not expected to be any better. Every set of results mentions load shedding and retailers are spending ±R1billion a year on diesel.
- Rand is looking weak, very weak.
- Grindrod (JSE code: GND) had good results and are clearly benefiting from the failure of Transnet ports.
- Bank results are looking good with Firstrand (JSE code: FSR) very strong and Nedbank (JSE code: NED) good and doing a R5billion share buy back.