The JSE reopens on Tuesday after a long weekend to gloomy global markets taking their cue from the Nasdaq index’s 0.88% drop on Monday.Besides fear of war between the US and North Korea, markets were jittery ahead of a speech US President Donald Trump is scheduled to give on Wednesday on his tax proposals.Construction group Aveng, which delayed releasing its results to account for a R2.4bn write-down following an adverse settlement of a disputed Australian project, said on September 20 it expected to report on Tuesday a headline loss for the year to end-June of up to R16.63.Aveng said it would write down the values of its Kenmare Resources and Mokolo Crocodile Water Augmentation projects, taking the total to R2.7bn.Furthermore, the results will include an impairment charge of R272m for Aveng Steel which it failed to sell along with a R531m deferred tax write-down. These write-downs would increase its basic and headline loss per share by R6.67, Wednesday’s trading update said.Aveng ...
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