US and Chinese holidays likely to thin JSE trade on Monday
Trading is likely to be slow on Monday with both the US and China closed for holidays. US markets are closed for President’s Day and Chinese markets for new year celebrations
Judging from Tokyo, where the Topix index was up 2%, and Sydney, where the ASX 200 index was up 0.7%, the JSE is likely to recover from Friday’s 0.7% stumble.
President Cyril Ramaphosa appeared to have unsettled the rand slightly by mentioning expropriation of land without compensation in Friday night’s state of the nation address.
The rand, which reached R11.56 against the dollar before Ramaphosa’s speech, was trading at R11.65 to the dollar, R14.46 to the euro and R16.35 to the pound at 7am.
Anglo American Platinum (Amplats) said on February 6 that it expected to report on Monday that its headline earnings per share (HEPS) for the year to end-December had doubled.
Amplats said it expected to report HEPS between R13.92 and R15.26 from the previous year’s R7.13.
"The expected increase in headline earnings and basic earnings is primarily a result of a strong operational performance, strict cost control and higher platinum group metal sales volumes, together with a 2% increase in the rand basket price," Amplats said in its trading statement.
Chemical producer Rolfes warned shareholders on February 15 that its interim HEPS would halve.
Rolfes said it expected to report on Monday HEPS of between 13.2c and 16.2c for the six months to end-December from the matching period’s 29.9c
"The 2018 interim results were negatively impacted by once-off legacy issues, as well as a poor first quarter. The second quarter showed a significant improvement and recovery which has continued post the period," Rolfes said.
Software group Silverbridge also warned shareholders it expected to report halved interim HEPS on Monday.
Statistics SA is scheduled to release December’s tourist accommodation report at 10am, its land transport survey at 11.30am, and food and beverages sales figures at 1pm.