Business

JSE slips with US Fed leery of more rate cuts

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At 5.20pm, the rand was flat to R14.6827/$, while it had weakened 0.17% to R16.2297/€, and was unchanged at R18.3379/£. The euro had firmed 0.22% to $1.1053.

Gold added 0.29% to $1,498.39/oz and 1.42% to $939.91. Brent crude was up 1.42% to $64.50 a barrel.

Shortly after the JSE closed, the Dow was up 0.35% to 27,242.67 points. In Europe, the FTSE 100 added 0.62%, France’s CAC 40 0.65%, and Germany’s DAX 0.57%.

Earlier, the Shanghai Composite rose 0.46% and Japan’s Nikkei 225 0.38%, while Hong Kong’s Hang Seng fell 1.07%. 

The JSE all share fell 0.17% to 56,123.80 points and the top 40 0.11%. Platinum miners dropped 1.04% and industrials 0.18%. 

Blue Label Telecoms gained 3.77% to R2.75 after it said on Thursday that it expects its headline and core headline earnings per share (HEPS) to decrease by more than 20% in the year to end-May. 

Mr Price rose 0.79% to R159.05. The retailer said earlier that it faced potential financial exposure of between R10m and R20m in an investigation into a relationship between two senior managers and one of its suppliers.

Texton climbed 4.73% to R3.10, after the property fund said on Thursday that its diluted earnings and HEPS grew 107.5% to 55.61c in the year to end-June.

Caxton jumped 8.38% to R7.50. The publishing company said on Thursday that its HEPS fell 6.8% to 101.6c  in the year to end-June.

Altron climbed 4.17% to R25 after it said on Thursday that Thobela Telecoms, of which it is a minority shareholder, has been granted leave to appeal a July court judgment that set aside the City of Tshwane’s municipal R1.2bn broadband contract.

Remgro gained 1.56% to R177.43, this despite it earlier reporting that its HEPS fell by 4.2% to 1,448.9c in the year to end-June.

Kumba Iron Ore slumped 5.33% to R392.90 and Assore 6.16% to R277.52.

– BusinessLIVE



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