TRADING STATEMENT
Exxaro confident on outlook even as shares dip
Investors are not battening down the hatches yet but the US-North Korea war of words has caused ripples
A positive trading statement was not enough to boost the Exxaro Resources share price, which fell 2.22% on Friday, as equity markets worldwide took a hit because of jitters over the brewing animosity between the US and North Korea. The JSE all-share index was off 0.98% to 55,155.10 points and the coal mining index was down 2.22% to 14,095.60. US President Donald Trump on Thursday threatened to retaliate if North Korea followed through on a promise to attack Guam‚ a Pacific territory where the US has a naval base. Rabobank International head of forex strategy Jane Foley told Business Day that while investors were not yet battening down the hatches, the reaction across asset classes was fairly noticeable last week. "If the US-North Korea conflict continues, it could have a significant impact on redirecting investments flows and therefore on the global economy." Exxaro, a coal-focused miner, said it expected headline earnings per share of 795c-925c, compared with 309c reported for the ...
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