JSE Large Caps with Great Dividend Yields

🎙️ Worldwide Markets Ep. 652 — “Dividends, Gold, and Gearing Gone Wild”
📅 15 October 2025 | Hosted by Simon Brown | Powered by Standard Bank SHYFT

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🪙 Gold Rush Continues

Gold is unstoppable! 🚀
Now trading above R4,100/oz, the yellow metal has clocked eight consecutive green weeks — the longest winning streak since early 2024.

Simon digs into:

• 📈 Historical patterns since the pandemic: jump → consolidate → jump again
• 🏦 Central banks as persistent buyers — but what happens if they ever stop?
• 🤔 With gold having doubled in three years, central banks’ reserves are now worth far more — will they slow purchases?

Gold weekly chart

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🧬 ASP Isotopes & the Renegen* Deal

🔥 The small-cap buzz continues!

ASP Isotopes (📊 JSE-listed) soared 34% after being added to a Morgan Stanley National Security Index, thanks to its defense-related tech.

• 🧪 ASP will acquire Renegen at a ratio of 0.09i ASP shares per Renegen share.
• 📈 The stock was badly mispriced at listing, now settling into realistic levels.
• 🧠 Simon’s take: it’s partly a meme stock, but still delivering products and momentum.

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🌍 Tariff Turmoil & Trump Tactics

🗞️ Trump shocked markets promising 100% tariffs on China, triggering a:

• 📉 2% drop on the S&P 500
• 📉 3% drop on the Nasdaq
  …before walking it all back two days later. Classic “art of the deal.” 🎭
  💬 China’s latest export data (+8.4% YoY) shows resilience, finding new global buyers despite tensions.

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💥 Crypto Carnage: Over-Geared Traders Wiped Out

📉 Bitcoin slid 10%, altcoins dropped 20–50% — and many over leveraged traders got liquidated.
Simon’s tough love 💬:

“If a 10% move wipes you out, you’re not trading — you’re gambling.” 🎲

He explains gearing simply:

• 💰 10× gearing = a 10% drop → total wipe out.
• 💰 50× gearing = just a 2% drop → goodbye capital.
• Crypto’s already volatile — no need for extra leverage.

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💸 JSE Large Caps: Great Dividend Yields

Following last week’s small-cap value picks, Simon scans big JSE names offering strong income 📊:

🏦 Banks

• Nedbank (9%) – solid and cheap.
• ABSA (8%) – attractive and trading below NAV.
• Standard Bank (7%) – quality but pricier.
• FirstRand (5.2%) – premium quality, lower yield.
• Investec (6.5%) – decent, but less excitement.

🏭 Industrials & Commodities

• Tungela (50%) – monster yield, but coal outlook uncertain.
• Omnia (special dividend) – mixed on chemicals.
• AVI (9%) – steady margins, strong chart 📊.
• Tiger Brands (7%) – turnaround story under new management.
• Reunert – defense & cabling play; value emerging.

🏠 Property

• Equites, Growthpoint, Fairvest, Hyprop, Resilient – 6–8% yields, but NAV discounts vary.

🎰 Leisure & Retail

• Sun International (10%) – betting becoming core growth area 🎲
• Mr Price* (4%) – comeback potential.
• Woolies (2.5%) – still struggling with fashion 👗
• Shoprite* (2.7%) – premium, low yield.

💼 Asset Managers

• Old Mutual (9%), Coronation (8%), Sygnia – benefit from rising markets.
• Alexander Forbes – solid income play.

📡 Telcos & Others

• Telkom – undervalued, post-Swiftnet debt cut, potential MTN suitor 📶
• Grindrod – ports booming, Africa trade tailwinds 🌍
• Bitvest (4%) – cash generative, debt manageable, chart support at R200.

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🧾 Key Takeaways

✅ Gold’s bull market still strong — no legs down yet.
✅ ASP Isotopes & Renegen merger heating up.
✅ Beware leverage — crypto is wild enough.
✅ Dividend stocks offering serious income on the JSE.
✅ Buffett Power Hour this Thursday — don’t miss it! 💼✨

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Simon Brown

* I hold ungeared positions.

All charts by KoyFin | Get 10% off your order

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