Rand starts the week poorly, back above R12/$
The rand was trading at just under R12.10 to the dollar on Monday morning — a poor start to the week a few days after it looked like it was heading back under R11.90.
The South African currency was trading at R12.09 to the dollar, R14.83 to the euro and R16.94 to the pound at 6.45am.
It is a busy results week for S&P 500 constituents, with Google’s parent Alphabet scheduled to release results on Monday, Facebook on Wednesday, and Amazon and Microsoft on Thursday.
But on the local front, few companies are scheduled to release results in the run-up to Friday’s Freedom Day holiday, followed by Workers’ Day on May 1.
The only JSE-listed company scheduled to release results on Monday is Club Mykonos Langebaan owner Trematon Capital.
Trematon warned shareholders on April 13 it expected to report an interim headline loss per share for the six months to end-February of about 0.9c.
Trematon reported headline earnings per share (HEPS) of 1.8c in the matching period, which was boosted by a R91.8m one-off profit from the sale of Mykonos Casino.
Statistics SA is scheduled to report on February’s tourist accommodation at 10am, its land transport survey at 11.30am, food and beverage sales at 1pm, and March liquidations and insolvencies at 2.30pm
Asian shares were generally down ahead of the JSE’s opening on Monday morning, with Naspers’s 31%-owned Tencent 1.45% weaker at H$394.40.
Tencent is preparing to unbundle its music arm into a separately listed company.
Tencent Music is expected to list in the US and have a market capitalisation of over $25bn, Dow Jones reported on Sunday.
Steinhoff closed 7.3% down in Frankfurt on Friday, at €0.16, following its annual general meeting — indicating it is likely to drop from R2.61 to about R2.37 when the JSE opens.