- The Johannesburg All-Share Index fell 0.86% and the Top 40 Index fell 0.99%, while domestic stocks trailed global stocks. Among the decliners were mining companies, led by Anglo American down 3.10%, while the commodities index fell 1.68% on weaker commodity prices for gold, silver and palladium.
- The rand slipped on Wednesday under pressure from a firmer dollar and rising U.S. government bond yields, as nervousness that rising energy prices could fuel inflation and lead to interest rate hikes drove investors into safe-haven assets. At the close of trading, the rand was trading around R14.97 against the dollar, 0.01% firmer. On Wednesday, the focus turned back to global events, particularly U.S. jobs data, which will be released on Friday when investors will be looking for clues on the timing of Federal Reserve policy tightening.
- Gold prices were unchanged this morning as the dollar remained firm and investors retreated to the sidelines ahead of the U.S. jobs report, which is expected to provide insight into the Federal Reserve’s timetable. Oil prices fell for a second session today. They were pressured by an unexpected rise in US crude inventories, which raised concerns about demand after prices rose to multi-year highs.
CEDAR INVESTMENTS LIMITED – Unaudited Results
Net asset value per share increased by 19.3% from 373 cents per share at 31 August 2020 to 445 cents per share at 31 August 2021, mainly due to higher valuations of TLG, Capespan and Kaap Agri, offset by the special dividend paid to shareholders during the period. Earnings per share increased from a loss of 14.3 cents per share to a profit of 31.4 cents per share, mainly due to the higher valuations of TLG, Capespan and Kaap Agri since the last comparative period.
SIRIUS REAL ESTATE LIMITED – Trading update
Total annualised rental income increased by 3.3% to €99.7 million. While the contribution in the first half of the financial year was modest due to the timing of completions, the impact of acquisitions is expected to be greater in the second half of the year. Like-for-like occupancy remained broadly unchanged at 86%, while overall occupancy fell to 85% (March 2021: 87%), primarily due to the acquisition of 23,000 sqm of vacant space in Essen and Ohringen, which was completed during the period. In line with its strategy, the Company intends to leverage its asset management platform to increase occupancy and net operating income in these properties.