Rand jittery on Ramaphosa rumours
The rand, which slid 1.2% on Friday on rumours that Deputy President Cyril Ramaphosa would be replaced by Nkosazana Dlamini-Zuma within the next few weeks, was trading at R13.67/$ at 6.50am on Monday morning.
Against the euro, the rand was at R16.09 and it was R18.05 against the pound.
The rand is likely to remain jittery on Monday following weekend reports speculating that President Jacob Zuma intends replacing Ramaphosa with his ex-wife despite his office denying this on Friday.
The JSE may be buoyed on Monday by a rally in Japanese stocks after the "Abenomics" party retained its two-thirds majority in an election on Sunday. Tokyo’s Nikkei 225 index was up 1.2% and the Topix index was up 0.85% on Monday morning.
Logistics group enX warned shareholders on October 18 that it expected to report a headline loss per share for the year to end-August of between R2.98 and R3.08 from the previous year’s headline earnings per share (HEPS) of R2.49.
If not for its former mining contracting subsidiary eXtract, which enX separated itself from by distributing 21.4 eXtract shares for every enX share held, HEPS would have been between R1.40 and R1.50, enX said in the trading statement.