Thursday is an extremely busy day for market watchers, with at least a dozen JSE-listed companies scheduled to release results.These include the largest company measured by market capitalisation in the JSE’s indices — British American Tobacco (BAT). Although Anheuser-Busch InBev, with a market capitalisation of R2.1-trillion, is bigger than BAT’s R1.8-trillion, AB InBev is excluded from the JSE’s indices to avoid the complication that its JSE-listed shares are viewed as foreign for institutional investors by the government. The foreign investment limit set for pension funds was raised to 40% from 35% in Wednesday’s budget.BAT’s share price closed 1% lower in London at £445.0 and 1% lower at R726.50 on the JSE on Wednesday.BAT is scheduled to release its results for the year to end-December on Thursday. It has not issued a trading statement, as would be required if its earnings differed by more than 20% from the previous year.Nor has Anglo American. The parent group releases its resu...
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