Naspers’s 31%-owned Hong Kong-listed associate Tencent rose 1.78% to H$411.20 on Monday morning, lifted by a rising tide of Asian stocks following better than expected US employment data released on Friday.
Tencent’s rally should help Naspers sustain its R3,198.95 closing price on Friday following a 5.72% jump.
Naspers should help the JSE’s all share index achieve its third trading day of gains following Friday 2% rally and Thursday’s 1% rise.
Sydney’s ASX 200 rose 0.48% following the release of better than expected Australian retail sales growth in April.
The rand was trading at R12.65 to the dollar, R14.79 to the euro and R16.92 to the pound at 7am.
Extract Group said on Thursday — its deadline day for its interim results for the six months to end-February — that it expected to release its results on Monday.
Extract sold most of its operations to enX, leaving it a mining contracting business, which it sold to Tharisa and Concor. A proposed reverse listing into the remaining cash shell by Wild Rose Capital was called off in February.
Other companies that may release results on Monday include Delta Property Fund, computer group Micromega, Tanzania-focused Kibo Mining, and radio station owner African Media Enterprises,