Markets trading ahead of the JSE’s opening on Monday morning were relatively flat. Tokyo’s Topix index rose 0.11%, relatively unmoved by airbag maker Takata announcing it had filed for bankruptcy protection in the US. Takata also announced a US subsidiary of China’s Ningbo Joyson Electronic, Key Safety Systems, would acquire it for $1.58bn. Other merger and acquisition news on Monday morning was Glencore had raised its bid for an Australian coal mine owned by Rio Tinto. Glencore raised its bid for Coal & Allied to $2.7bn, topping a $2.45bn offer from China’s Yancoal. Glencore’s share price in Hong Kong rose 1.09% to HK$27.85 on Monday morning. On the JSE on Friday, Glencore closed 0.3% lower at R46.06. Engineering consumables group Invicta said on June 20 that it expected to report on Monday headline earnings per share (HEPS) for the year to end-March increased between 35% and 40%. Invicta said in its trading statement that it expected attributable profit to increase between 25% and...
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