Tesla could help drive JSE higher
Glencore, MTN, Mpact, Quilter and South Ocean Holdings are scheduled to release interim results before the JSE closes for Women’s Day
It is a busy Wednesday ahead of the JSE closing for Thursday’s Women’s Day public holiday, with a flood of results.
Companies diarised to release interim results include Glencore, MTN, Mpact, Quilter and South Ocean Holdings.
Of these, only electrical cable maker South Ocean released a trading statement, saying it expected its headline loss per share for the six months to end-June to be about a tenth of the 10.2c it reported in the first half of its 2017 financial year.
On Nasdaq, Teslas’s share price jumped 11% to $379.57 after CEO Elon Musk tweeted: "Am considering taking Tesla private at $420. Funding secured."
Tesla helped the Nasdaq composite index rise 0.31%, which in turn buoyed Asian markets.
Naspers’s 31%-owned Tencent was up 2% to HK$364, a good augur that the JSE’s top 40 will build on Tuesday’s 1.56% gain to 51,578 points.
In Sydney, BHP was up 0.89% to A$33.92, helping the ASX 200 index gain 0.37%.
The rand was trading at R13.30 to the dollar, R15.46 to the euro and R17.23 to the pound at 6.30am.
See here for more on Tesla’s latest surprise.