Calm day expected after a traumatic week
Real estate investment trust Resilient — embroiled in accusations of manipulating its share price — is expected to release results after 5pm
Asian markets were buoyant on Friday morning, indicating the JSE may continue Thursday’s rebound, when the all share index gained 1.65% to 56,562 points. In Hong Kong, Naspers’s 31%-owned Tencent was up 3.25% to HK$336.40 on Friday. The rand was trading at R14.64 to the dollar, R16.67 to the euro and R18.63 to the pound early on Friday morning. After a traumatic week — which started with the rand breaching R15 to the dollar in the early hours of Monday and Naspers crashing 10% on Wednesday — Friday will hopefully be quiet, with little diarised. Real estate investment trust Resilient said on its website it will release its 2018 financial year results on Friday. Resilient, which tends to release its results after 5pm, has not released a trading statement, indicating earnings will be within 20% of the prior year’s. The property group’s share price fell from over R150 in December to about R50 in March following criticism that it used money loaned to an education trust, Siyakha, to prop ...
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