JSE could open lower on Tuesday as Omnia reports
SA stocks could open weaker on Tuesday as investors shift their attention to geopolitical tensions in the Middle East and the much-anticipated Group of 20 (G20) summit later in the week.
US President Donald Trump imposed fresh sanctions against Iran on Monday after the Middle Eastern nation shot down a US drone. Meanwhile, traders are awaiting talks between Trump and his Chinese counterpart, Xi Jinping, at the G20 summit in Japan starting on Friday.
Hong Kong’s Hang Seng index was 1.3% down on Tuesday, while the Shanghai Composite lost 1.8%. Japan’s Nikkei 225 declined 0.67%, Korea’s Kospi 0.5%, and Australia’s main benchmark 0.2%.
Chinese internet and gaming giant Tencent was 1.7% down in Hong Kong, suggesting a weak opening for major shareholder and Africa’s biggest public company, Naspers, on the JSE.
JSE heavyweight BHP Group was 0.2% lower in Australia.
Fertiliser and chemicals maker Omnia, which has come under fire for announcing a planned share sale soon after saying it was adequately capitalised, is due to report financial results for the year to end-March on Tuesday. The group has warned that it expects to report a headline loss per share of up to 139c, versus headline earnings per share of 991c previously.
Digital technology company Etion is also expected to report results for the year to end-March. The group has warned that it expects to report a loss.
Statistics SA will publish financial statistics of national government for 2018 on Tuesday, as well as quarterly employment statistics for March.
The SA Reserve Bank is due to release composite business cycle indicators.
The rand was flat on Tuesday morning at R14.35/$, R18.31/£, and R16.38/€.
Source: businesslive.co.za
