Axe Capital Investments

Clear market notes built around the JSE, the rand, and what matters locally.

Axe Capital Trading News shares simple market takes on the stories moving South African shares, the rand, and a handful of major currency pairs.

What you will find here:

1. JSE shares, South African companies, and the local knock-on effects of big market news.

2. The rand, interest rates, and a small group of forex pairs, with USD/ZAR at the centre.

3. Global stories only when they can actually change how a local investor might act.

Latest market stories

Nokia Oyj vs. AT&T: Which Technology Stock Is a Better Buy in 2026?

2026-09-30 14:35 • The Motley Fool Positive Axe Cap view: Selective

The article compares Nokia Oyj and AT&T as investment options in 2026. AT&T offers better current valuations, higher profitability margins (21.2% operating margin), and a strong 4.5% dividend yield, but carries significant net debt of $146 billion. Nokia trades at a premium valuation (26.5x forward P/E) with lower profitability (11.1% operating margin) but has no net debt and is positioned to benefit from AI infrastructure buildout. The analysis concludes that value/income investors should favor AT&T, while growth-oriented investors should consider Nokia.

Axe note: Choosing between Nokia’s future growth promise and AT&T’s solid income remains a classic tech sector trade-off.

Could This Company Challenge Eli Lilly and Novo Nordisk in the Weight Loss Market?

2026-09-30 14:24 • The Motley Fool Positive Axe Cap view: Selective

Roche's weight loss drug candidate enicepatide has shown promising Phase 2 results with 22.5% mean weight loss over 48 weeks, potentially competing with Eli Lilly's Zepbound and Novo Nordisk's semaglutide. However, while enicepatide demonstrates competitive efficacy, Roche is unlikely to overtake the market leaders due to their deeper pipelines. Roche remains a solid investment opportunity with diversified healthcare products and consistent growth prospects.

Axe note: Roche’s enicepatide shows promise but may struggle to unseat market leaders in weight loss treatments.

Bill Ackman Just Said 4 Words Blasting the Fed's Latest Rate Hike: "Just Made a Mistake." Here's Why He Thinks Higher Rates Could Backfire on AI-Driven Inflation.

2026-09-30 14:23 • The Motley Fool Neutral Axe Cap view: Selective

Bill Ackman criticizes the Federal Reserve's September 2024 rate hike, arguing that higher interest rates may backfire in the AI era. He contends that tech companies racing for artificial general intelligence will continue massive spending on AI compute regardless of borrowing costs, making demand inelastic. This could cause higher interest rates to be reflected only in AI product prices, potentially increasing rather than decreasing inflation.

Axe note: Higher rates may fail to cool AI-driven inflation, says Bill Ackman, with local implications for rand and tech sectors.

See all market stories →

What we follow

We keep the focus on JSE shares, the rand, and the currency moves that matter most to South African investors.

JSE and rand