JSE and global markets still going ‘BATS’
Friday’s focus is on resources, with Patrice Motsepe’s African Rainbow Minerals reporting up to 54% HEPS growth
This week’s slide of global stocks — blamed on the emerging market "BATS" (Brazil, Argentina, Turkey and South Africa) — showed no sign of abating on Friday morning.Tokyo’s Nikkei 225 index was down 1.1%, and Hong Kong’s Hang Seng index was down 0.86%, with Naspers’s 31%-owned Tencent falling 1% to HK$311.40. In Sydney, BHP was down 1.05% to A$31.07, contributing to a 0.62% drop in the ASX 200 index.The rand was relatively calm at R15.34 to the dollar, R17.84 to the euro and R19.85 to the pound at 6.30am.Miners African Rainbow Minerals and Northam Platinum are scheduled to release results on Friday.African Rainbow Minerals, founded and chaired by Patrice Motsepe, said on August 22 it expected to report on Friday headline earnings per share (HEPS) for the year to end-June would grow by up to 54%.The mining group said it benefited from higher commodity prices and a fair value of gain of R977m after restructuring its debt.Northam said it expected to report its headline loss per share w...
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