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

Robinhood Set Records on Revenue, Net Deposits, and Gold Subscribers. The Stock Is Still 44% Below Its High.

2026-07-31 11:26 • The Motley Fool Neutral Axe Cap view: Selective

Robinhood reported record Q2 results with $1.31B revenue (up 32% YoY), 4.8M Gold subscribers (up 39%), and record trading volumes. However, the stock fell 3.6% post-earnings and remains 44% below its October high. The market is concerned about revenue sustainability, particularly as crypto trading revenue declined 38% while newer prediction markets business is unproven at scale. At 38x earnings, the valuation already prices in significant growth.

Axe note: Robinhood posted record revenue and subscriber growth but faces skepticism over revenue sustainability and valuation.

1 Stat That Makes MercadoLibre Stock Hard to Ignore Before Aug. 5

2026-07-31 11:05 • The Motley Fool Positive Axe Cap view: Selective

MercadoLibre's revenue grew 49% last quarter, its fastest pace in four years, driven by strong performance in Brazil (56% increase) and improved logistics efficiency (17% drop in unit shipping costs). Despite Wall Street's initial concerns about margin compression from growth reinvestment, the stock is trading at attractive valuations with a PEG ratio of 1.15, suggesting the market may be undervaluing the company's long-term potential in Latin America's e-commerce and fintech markets.

Axe note: Strong growth in Latin America’s e-commerce giant hints at parallels for local tech plays.

ASML: Is a New Chinese Competitor a Major Threat? (NASDAQ: ASML)

2026-07-31 10:30 • The Motley Fool Positive Axe Cap view: Neutral

An unnamed Chinese company has begun manufacturing deep ultraviolet lithography (DUV) machines, a key semiconductor fabrication equipment. While the news initially impacted ASML shares, analysts argue the threat is overstated. The Chinese competitor plans to ship only 5 machines this year and 20 in 2027, compared to ASML's 130 units this year and planned capacity of 220 units annually by 2028. ASML's technology lead and product reliability give it a significant advantage, though long-term competition from China remains a potential concern.

Axe note: ASML's lead in semiconductor machine manufacturing remains solid despite news of Chinese competition.

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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