South African News and Market Update: ArcelorMittal South Africa Ltd – Trading Statement, and more

 South African News and Market Update: ArcelorMittal South Africa Ltd – Trading Statement, and more

South African News and Market Update.

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Shares on the Johannesburg Stock Exchange edged higher yesterday as investors turned away from fears over the possible Ukraine conflict and focused on the expected Fed meeting and local interest rate decision. The benchmark All-Share index closed up 0.21% at 72,315, while the blue-chip Top 40 index closed up 0.33% at 65,870. The government’s benchmark 2030 bond fell, with the yield rising 2 basis points to 9.36%.

The rand trended firmer on Tuesday, although concerns about a possible military conflict in Ukraine and monetary tightening by the U.S. Federal Reserve boosted the dollar and dampened appetite for riskier assets. At the close of trading, the rand was trading around R15.25 against the dollar, 0.1% firmer. The currency showed little reaction to data showing that a leading economic indicator rose 0.6% in November from the previous month.

Gold prices were little changed this morning ahead of the U.S. Federal Reserve meeting to decide on interest rate hikes this year, while the safe-haven bullion was supported by concerns over the Russia-Ukraine conflict. Meanwhile, oil prices eased this morning as investors took profits ahead of the Federal Reserve meeting, although fears of tightening supply due to tensions in Ukraine and the Middle East limited losses.


Based on currently available information, shareholders are advised that the Company expects earnings per share to improve from a loss of R1.80 per share in the comparative period to a profit within a range of R5.80 and R6.10 per share in the period (representing an improvement of more than 100%). Earnings per share are expected to improve from a loss per share of R1.90 in the comparative period to earnings per share within a range of R6.00 and R6.30 in the reporting period (representing an improvement of more than 100%).

MOTUS HOLDINGS LIMITED – Further trading statement and operational update

Vehicle sales continue to recover despite erratic vehicle deliveries by Original Equipment Manufacturers (OEMs). In South Africa, the Automotive Business Council for South Africa (naamsa) reported total annual industry sales of 464,122 new vehicles for the 12 months ending December 31, 2021, compared to 380,206 vehicles for the comparable period, a 22% increase for the calendar year. Motus expects earnings per share (Heps) for the half-year to be between 763 cents and 815 cents per share. The importer and dealer of vehicle brands such as Hyundai, Kia and Mitsubishi Motors expects operating profit for the period to rise between 20% and 26% to between R2.1 million and R2.2 million. The group will release its interim results for the six months ended December 31, 2021 on Tuesday, February 22, 2022.

Mandy Nunes

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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