- Stocks advanced, with the Johannesburg Stock Exchange’s Top-40 Index rising 1.47% to 60,391 points and the broader All-Share Index climbing 1.26% to 66,846 points. Miners topped the blue- chip index for the second day in a row as gold continued to rise to a one-month high. Platinum and other precious metals were also on the up. Impala Platinum was the biggest winner, rising 4.42%, followed by Glencore, Anglo American and BHP Group, all up more than 3%.
- The rand was steady against the dollar on Thursday, taking a breather after two days of strong gains. At the close of the session, the rand was trading around R14.78 to the dollar or 0.21% firmer. This week the rand has been boosted by market bets that the South African central bank would raise its main lending rate at its next monetary policy meeting in November, as well as an increase in the gold price XAU= and demand for local bonds.
- Gold was set for its best week in more than five months as a retreat in the U.S. dollar and Treasury yields lifted the metal’s appeal despite a looming Federal Reserve taper. Oil prices climbed earlier today, heading for gains of more than 2% for the week, on increasing signs of tight supply over the next few months as rocketing gas and coal prices stoke a switch to oil products. The International
Energy Agency on Thursday said the energy crunch is expected to boost oil demand by 500,000 barrels per day (bpd).
PSG GROUP LIMITED – Unaudited financial results
At 31 August 2021, PSG Group’s net asset value per share was R110,09, representing an increase of 50% and 20% when compared to the net asset value per share of R73,27 and R91,76 as at 31 August 2020 and 28 February 2021, respectively; and sum-of-the-parts (“SOTP”) value per share was R110,50, representing an increase of 17% when compared to the R94,24 per share as at 28 February 2021. At 8 October 2021, PSG Group’s SOTP value per share was R112,13. For the six months ended 31 August 2021, PSG Group’s headline earnings per share amounted to R18,04 (2020: loss of R14,14) and fair value gains on investments at fair value through profit or loss amounted to R3,4bn (2020: loss of R5,2bn).
LONG4LIFE LIMITED – Results for the six months ended 31 August 2021
Group revenue of R1.8 billion was in line with the 2019 period, and gross profit of R771 million is a 7% increase on the 2019 period’s R719 million. Trading profit of R214 million exceeded the 2019 period by 6% with improved trading margins of 11.6% (Aug 2019: 10.9%). Headline earnings of R143.1 million translated into a 55% increase in headline earnings per share (‘HEPS’) of 22.5 cents from 14.5 cents in the 2019 period. HEPS is calculated on a weighted average number of shares in issue of 636.6 million (Aug 2019: 875.2 million shares).