The JSE received mixed signals from stock markets trading ahead of its opening on Monday morning. The Australian Securities Exchange’s S&P/ASX 200 was down 0.6% while Shanghai enjoyed a 1.3% rise. Restaurant franchisor Famous Brands appears to be a beneficiary of the pound’s crash. Its interim results, scheduled for release on Monday, will include a R141m windfall from a rand hedge it took for its £120m acquisition of UK chain Gourmet Burger Kitchen. Famous Brands said in a trading statement on October 11 it expected to report on Monday headline earnings per share for the six months to end-August grew between 67% and 74% from the matching period. Its UK gain was offset slightly by a R20m impairment on its Nigerian investment, UAC Restaurants Statistics SA is scheduled to release August’s tourist accommodation data at 10am, its land transport survey at 11.30am, food and beverages at 1pm and September liquidations and insolvencies data at 2.30pm.
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