First National Bank

Youth employment is more critical as economies transitionThe latest Stats SA’s Quarterly Labour Force Survey (QLFS) shows that the country’s official unemployment rate remains stubbornly...

The calm before the stormLocally, there are no major releases scheduled for next week. On the corporate actions front, Tuesday marks the last day to trade British American Tobacco (JO:SNHJ), Netcare...

Your essentials this winterThe latest consumer price inflation data for May 2022 revealed a faster pace of price acceleration than previously anticipated. Headline inflation posted 6.5% y/y, the...

Another quiet week of corporate earnings releases aheadLocal heavyweights Naspers (JO:NPNJn) and Prosus (JO:PRXJn) are set to release full-year results: As per a recent trading statement, core...

Consumer inflation accelerated to 6.5% y/y in MayHeadline inflation was 6.5% y/y in May, up from 5.9% in April. This outcome was a shock to our and the consensus expectation of 6.0% and 6.1%,...

Taking a pulse on the consumerIn our previous reports, we have shown that living costs are on the rise, with inflation expected to breach the upper-level target. Correspondingly, we have argued that...

Local releases lead the wayWe expect the following companies to report full-year results next week: Stor-Age Property (JO:SSSJ): According to a previous update, SA self-storage rental income grew 10%...

The current account, seasonally adjusted and annualised, recorded a surplus of R143 billion in 1Q22, widening from a surplus of R132 billion (revised up from R120 billion) in 4Q21. As a percentage of...

Locally, we expect the following companies to report results: Sirius Real Estate (Full-Year Results): As per a previous update, the total dividend per share is expected to range between 4.39 cents and...

Stats SA’s Quarterly Labour Force Survey (QLFS) data (not seasonally adjusted) showed that the economy gained 370 076 jobs between 1Q22 and 4Q21, taking the level of employment to 14 914 207....

This year has been tumultuous, with demand-supply imbalances exacerbated by geopolitical tensions, rising inflation - which has led to the withdrawal of monetary policy stimulus, and slowing economic...

A few companies are expected to report results next week: Famous Brands (JO:FBRJ) (Full-Year Results): As per recent guidance, headline earnings per share (HEPS) will be between 320 cents and 392...

After raising interest rates by 25 basis points (bps) in January and March, the Monetary Policy Committee (MPC) continued its policy rate normalisation path and increased rates by 50bps at their May...

A host of companies are expected to report results next week: Barloworld (LON:BWOB) (Interim Results): According to the company’s latest trading update, normalised headline earnings per share...

18 May 2022 – Headline inflation was 5.9% y/y in April, flat from the print in March. This outcome was in line with the consensus expectation, but slightly below our expectation of 6.0%....

Total mining output (not seasonally adjusted) was materially down by 9.3% y/y in March after falling by 5.8% y/y in February. This was mainly on a statistically higher base in March last year but also...