The rand, which strengthened to R12.77/$ on Friday after S&P Global Ratings held its credit rating of rand-denominated government bonds a notch above junk, held on to most of its gains at the weekend. The rand was at R12.85/$, R14.47/€ and R16.53/£ at 7am. The London Bridge attack on Saturday night, which Islamic State (IS) has claimed responsibility for, along with a blockade against Qatar by Saudi Arabia, Bahrain, the United Arab Emirates (UAE) and Egypt set a gloomy tone for stock exchanges trading ahead of the JSE’s opening on Monday morning. Sydney’s S&P/ASX 200 index was down 0.76% and the Shanghai composite index was down 0.47% at 7am. Telkom said on May 11 it expected to report on Monday that headline earnings per share (HEPS) for the year to end-March more than doubled from the previous year’s R3.30. The big jump is due to retrenchment costs of R2.2bn in its 2016 results. Excluding the severance and early retirement payouts in the matching period’s results, HEPS grew by up ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.