SE-listed construction group Stefanutti Stocks is making some progress in its disputes with Eskom after the utility claimed it had overpaid almost R4 billion to various contractors at the Kusile power station, including an estimated R1 billion to two of Stefanutti Stocks' joint ventures (JVs). Read more.
Gold (XAU/USD) hit a 2 week low on Friday and on Monday trading the price stabilised however it was struggling to gain significant upward momentum. The precious metal was trading at levels around $1845 at the time of writing (12:00 pm). Read more.
Gold retreated from a bullish week on Fed Governor Waller hawkish comments on the need for faster tapering of the quantitative easing (QE) program. Subsequently markets have had an upshift in the expectation of the US interest rate path going into 2022. This expectation has also been reflected in the Treasury yields curve with a steepened front end with the belly and the long end of the curve flattened. Read more.
Shares in self-storage property fund Stor-Age rose just over 6% on the JSE on Tuesday after its half-yearresults to the end of September 2021 showed another strong set of financial results. As well as paying an interim dividend of 56.60 cents per share, Stor-Age announced an 8.85% increase in its dividend per share and chose to give the market an "outlook" by forecasting full-year dividend growth of between 6% and 8%. Read more.
Vodacom has agreed to buy a majority stake in Vodafone Egypt from its UK parent for $2.7 billion. (R40.86 billion), expanding the South African operator's operations into the north of the continent. Read more.
Clothing and homewares retail giant Mr Price Group expects its half-year profit for the period ending October 2 to rise 30% to 40%, driven by improved retail performance. Read more.
Covid-19 has dealt a massive financial blow to state-owned port and rail logistics group Transnet. The company on Friday reported a record net loss of R8.4 billion for its financial year to the end of March 2021, compared to a profit of R2.9 billion in the previous financial year (FY2020). Read more.
Technology services provider EOH has turned around from an operating loss of R1.3 billion in the 2020 financial year to a profit of R147 million for the financial year ending July 31, 2021. Read more.
Stephen Saad, CEO of JSE-listed Aspen Pharmacare Group, on Monday called on government to consider developing a new special economic zone (SEZ) around its manufacturing facility in Gqeberha (formerly Port Elizabeth. Read more.
South Africa's largest healthcare retailer, JSE-listed Clicks Group, continues to expand despite ongoing Covid 19 pressures and the impact of the July riots on its business. Read more.
Airports Company South Africa (Acsa) - the state-owned monopoly that controls nine of the country's major airports - on Tuesday reported a loss of R2.6 billion for the financial year ending March 31, 2021. Read more.
On the daily timeframe, HK50: D1 broke up the downtrend resistance line. A number of technical analysis indicators have formed signals for further growth. We do not rule out a bullish movement if HK50: D1 rises above the last high: 25700. Read more.
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