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’Citi’s high carbs diet
It seems like more or less anything can be deemed an asset class these days.
Here’s the latest one from Citigroup analysts: ‘Carbs’. No that’s not McDonalds and Coca Cola, but Canada, Australia,
Old Greek bank risk in New Europe, again
In which FT Alphaville gets to ask once more why the sovereign crisis in Greece, where Greek banks are in danger, isn’t setting off contagion in Emerging Europe.
Where exposure to Greek banks happens to be rife.
[South Africa 2010] Two very different quant models say Brazil will win World Cup
Continuing our recent theme of financial analysts-turned-football-experts, we bring you a Friday edition of 2010 World Cup predictions. This time the conjectures come from two different financial outfits,
[South Africa 2010] World Cup beer goggles = 180bps
A World Cup without beer is like cricket without Pimm’s.
Or a night out in Essex without an alcopop.
But how much does hosting a World Cup football tournament actually boost local beer sales?
According to Sanford Bernstein analysts Trevor Stirling,
[South Africa 2010] South Africa: back of the net – not
What happens when your favourite emerging market gets the nod to host a major world sporting event? Sadly, surprisingly little; trends matter more.
A Citi note on Tuesday cuts through South Africa’s World Cup fever:
[South Africa 2010] The Germans always win
The joys of the World Cup are plenty.
Those in England can beam with pride as Wags go shopping, chairs are thrown through restaurant windows, and much of the country’s media succumb to collective hysteria and mouth-foaming jingoism.
[South Africa 2010] World Cups good for tourism, bad for industrial production, BofAML says
The 2010 World Cup will add at least 0.5 percentage points to South Africa’s GDP growth, analysts at Bank of America Merrill Lynch said in a note on Monday.
But while the sporting event will boost retail sales and other consumption spending as well as tourism,
The graphic global stimulus
From UBS, showing size of fiscal stimulus against interest rates.
Making the most ‘stimulised’ economies: South Africa, Singapore and China.
Emerging (markets) squeeze
Speaking of emerging market economies in the 1990s, we may be having a repeat.
This is from Sean Corrigan, chief investment strategist at Diapason Commodities Management.
Public sector surpluses
Old Mutual sells stake in insurer to Bafokeng
Old Mutual is to sell its controlling stake in South Africa’s second-largest short-term insurer to the Royal Bafokeng Nation, a rural community whose ancestral lands cover some of the world’s largest platinum deposits.
PE growing in SA, despite a cool welcome
Private equity is just getting going in South Africa. The value of funds under management jumped almost a third last year to R56.2bn from R42.5bn in 2005, according to industry body Savca.
The profile of private equity funding has grown in South Africa,
Is the buyout wagon headed for South Africa?
There was a flurry of excitement last week. Could private equity be poised to launch its most ambitious foray to date into South Africa, dwarfing other deals in the country with a $12.5bn takeover of iconic miner Gold Fields? Alas it was not to be.
Bain bids for S African fashion chain
Bain Capital has offered R25bn ($3.5bn) for the South African fashion retailer, Edgar’s Consolidated Stores, in the largest private equity deal to date for the country. Bain, offered R46 a share, a 51 per cent premium to the share price the day before the company revealed it was in talks.
Anglo American to spin off assets for SA licences
Anglo American is to spin off R7bn ($979m) of its South African coal assets and sell 27 per cent of the shares to black groups to help it secure new coalmining licences. The creation of the new group, Anglo Inyosi Coal,