Sour results expected from sugar producer

The JSE received mixed signals from Asian markets on Tuesday morning.

South Korea’s Kospi index was down 0.13%, uninspired by the summit between US President Donald Trump and North Korean dictator Kim Jong-un.

Hong Kong’s Hang Seng index was up 0.28%, with Naspers’s 31%-owned Tencent rising 0.05% to HK$419.20.

Sydney’s S&P ASX 200 was flat, with BHP falling 1.12% to A$33.70 and South32 falling 2.21% to A$3.76.

The rand was trading at R13.16 on Tuesday morning, relatively calm against a strengthening dollar ahead of Wednesday night’s anticipated interest rate increase from the US central bank.

The rand was at R15.49 to the euro and R17.58 to the pound at 7am.

Farming group Crookes Brothers said on June 1 that it expected to report on Tuesday that it fell into a loss for the year to end-march.

“Earnings for the year have been materially affected by a sharp decline in the rand value sugar price,” Crookes said in the trading statement.

Crookes said it expected to report a headline loss per share of up to 59c from the previous year’s headline earnings per share (HEPS) of 424.1c.

Real estate investment trusts Stor-Age and Schroder are also expected to release results on Tuesday.