JSE likely to rise on Cyber Monday
The JSE will have a buoyant Cyber Monday, judging by Tencent, which was up 1.92% to HK$296.80.
Hong Kong-listed Tencent is the main asset of the top 40 index’s largest constituent, Naspers.
The top 40’s second-largest constituent, BHP, however, was down 3.55% to A$30.43 in Sydney ahead of the local bourse’s opening.
JSE-listed companies diarised to release results on Monday include Pepkor.
The retail group warned shareholders on November 20 that it expected its basic and headline earning per share for the year to end-September to fall by about 37%.
Pepkor, which was split from Steinhoff International a few months before its parent group’s share price crash in December 2017, said reasons included increasing its shares in issue by 28% and booking a R500m provision for debt.
In its interim results, the group, which was then called Steinhoff Africa Retail (Star), said it was party to a guarantee of third-party debt underpinned by Steinhoff International’s share price.
“Since the decline of the Steinhoff share price, the risk of liability in this regard can no longer be considered remote,” the interim results statement said.
Other companies that may release results on Monday include radio station owner African Media Enterprises and property groups Vukile and Accelerate.
The rand held was trading at R13.83/$, R15.67/€ and R17.71/£ at 6.35am, holding on to last week’s gains.
Source: businesslive.co.za
