Tencent’s 4% drop augurs badly for the JSE

The rand was trading at R16.06/€ and R18.47/£.

JSE-listed companies diaries to release results on Friday include Richemont and Telkom.

Ahead of its interim results for the six months to end-September, Richemont released a sales report at its annual general meeting (AGM) that covered the first five months of the reporting period, showing total sales grew 22% to €5.7bn from €4.6bn in the matching period.

“All regions, with the exception of the Middle East, posted growth, led by solid momentum in Asia-Pacific and the Americas. Hong Kong, Korea and Macau all generated double-digit increases while China showed good growth,” Richemont said in the sales update.

“Europe had mixed performances throughout the region and was impacted by the strength of the euro and a challenging year-on-year comparison in the UK. In Japan, growth reflected both higher domestic and tourist spending.”

Telkom has not issued a trading statement ahead of its interim results for the six months to end-September, as would be required if earnings differed by more than 20% from matching period.

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Source: businesslive.co.za