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10/06/2026

Corporate Update | SPAR Group

SPAR Group reported interim revenue growth of 3.6% to R67.5 billion for the 26 weeks ended 27 March 2026, but operating profit declined 45.3% to R740.5 million and HEPS fell 53.9% to 199.9 cents per share.

Earnings were impacted by disruptions at the KwaZulu-Natal distribution centre, elevated Black Friday promotional activity, and higher debtor costs. No interim dividend was declared. Management noted that Ireland delivered stable performance, while the second half is expected to improve as once-off pressures ease and operations stabilise. The group also welcomed its new CEO and CFO, both appointed in March 2026.

10/06/2026

Market Open | Inflation Data Takes Centre Stage

Global Markets

• US Central Command launched fresh airstrikes against Iran following the downing of a US Army Apache helicopter in the Strait of Hormuz.
• Markets continue to weigh ceasefire prospects against ongoing military escalation.
• President Trump downplayed the severity of the incident, although military action followed shortly thereafter.
• Wall Street closed lower overnight in a volatile session.
• Technology and semiconductor stocks led declines amid renewed selling pressure and concerns around valuations and future capital expenditure trends.

Commodities & FX

• The dollar is broadly steady this morning.
• Precious metals are trading sharply lower.
• Expectations of tighter US monetary policy are outweighing traditional safe-haven demand.
• Oil prices are softer despite escalating tensions between the US and Iran.
• Markets are increasingly focused on the interest rate outlook rather than geopolitical developments alone.

South Africa

• The rand is weaker against the dollar this morning.
• The JSE All Share Index is expected to open marginally lower.
• Precious metal counters may come under pressure following weakness in underlying commodity prices.
• Tencent is up more than 3% in Hong Kong trade.
• The move could help support Naspers and Prosus and offset some broader market weakness.

Today’s Key Events

• US CPI Inflation Data
• Middle East Developments
• US Treasury Yield Movements
• Federal Reserve Rate Expectations

Desk View

Today’s US inflation print is likely to be the key market catalyst. Following last week’s stronger-than-expected jobs data, investors are increasingly concerned that inflation may remain too sticky for the Federal Reserve to ease policy. Any meaningful surprise in the CPI data could drive significant moves across equities, bonds, currencies and commodities.

Tech Tuesday | Markets Tread WaterMarkets remain caught in a mixed technical environment, with the J40 struggling below ...
09/06/2026

Tech Tuesday | Markets Tread Water

Markets remain caught in a mixed technical environment, with the J40 struggling below former support, USD/ZAR extending its move towards 16.75, and commodities continuing to test key support levels.

Gold has broken below a major support zone, while Brent crude remains trapped in a sideways range. On the JSE, Naspers, Remgro and Shoprite are showing early bullish reversal characteristics, while Spar continues to point lower.

View the full charts, levels and trade ideas here:
https://ow.ly/kl5U50Z9sgT

Webinar | Are You Getting the Most Out of Velocity Trader?Join our free training session tomorrow (10 June) at 1 PM and ...
09/06/2026

Webinar | Are You Getting the Most Out of Velocity Trader?

Join our free training session tomorrow (10 June) at 1 PM and learn how to:

• Improve your trading workflow
• Access platform-based trade ideas
• Make better use of charting tools
• Understand order types
• Monitor margin and exposure

Register now: https://ow.ly/lJPA50Z9hyH

Can't attend live? Register anyway, and we'll send you the recording

09/06/2026

The demand for AI model makers is astronomical, with top talent like Ilya Sutskever commanding offers in the tens of billions. Meta reportedly paid $15 billion for a company and offered engineers $100 million signing bonuses. Such figures shift motivation from money to purpose and team dynamics, impacting leaders like Elon Musk's appeal compared to figures like Dario Amodei or Demis Hassabis.

Watch the full episode here: https://youtu.be/0XdW_51C1Mg

09/06/2026

Market Open | Markets Welcome A Pause In Tensions

Global Markets

• The S&P 500 closed marginally higher overnight despite most individual stocks finishing the session in negative territory.
• Investor sentiment improved after reports that Israel and Iran agreed to halt attacks on each other for now.
• Semiconductor stocks, which came under significant pressure last week, staged a partial recovery.
• OpenAI filed for a US initial public offering on Monday, joining Anthropic in seeking fresh capital.
• SpaceX is also expected to list later this week, adding further focus to the technology sector.

Commodities & FX

• Oil prices are lower this morning as geopolitical concerns ease.
• The dollar has softened in early trade.
• Bond yields are also moving lower.
• Metal prices are firmer, supported by improving risk appetite and a weaker dollar.
• Commodity markets are reflecting a broader shift toward a more constructive market tone.

South Africa

• The rand has recovered some of its recent losses against the dollar.
• Improved global sentiment is providing support for local assets.
• The JSE All Share Index is expected to open slightly firmer this morning.

Today’s Key Events

• Middle East Developments
• Technology Sector Updates
• Global Bond Yield Movements
• Commodity Market Reaction

Desk View

Markets are showing tentative signs of stabilisation as geopolitical tensions ease and technology shares recover from recent weakness. While investors remain alert to developments in the Middle East, the focus is gradually shifting back toward growth themes, capital markets activity and the broader AI investment narrative.

SA Earnings to Watch This WeekSeveral South African companies report results this week, including SPAR, Omnia, PPC, Alex...
08/06/2026

SA Earnings to Watch This Week

Several South African companies report results this week, including SPAR, Omnia, PPC, Alexander Forbes, Premier Group and Burstone.

Global Earnings to Watch This WeekA lighter earnings week in global markets, with several notable consumer and technolog...
08/06/2026

Global Earnings to Watch This Week

A lighter earnings week in global markets, with several notable consumer and technology companies reporting results.

Highlights include Oracle, Adobe, Lennar, Campbell’s, J.M. Smucker and Casey’s General Stores.

Global Data to Watch This WeekSeveral important economic indicators could move markets in the days ahead.Key releases in...
08/06/2026

Global Data to Watch This Week

Several important economic indicators could move markets in the days ahead.

Key releases include:

• South African GDP data for Q1
• US inflation (CPI) figures
• The European Central Bank’s interest rate decision
• German industrial production and inflation data
• US existing home sales

05/06/2026

Unexpectedly strong employment figures show over 170,000 jobs created, significantly exceeding forecasts. While the unemployment rate remained steady, understand the impact of fewer new entrants into the economy on labour market tightness and inflation.

Watch the full episode here: https://youtu.be/0XdW_51C1Mg

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