Bad Christmas retail figures may knock JSE
December’s retail statistics will add another piece to 2018’s GDP puzzle, and DRDGold and Curro release interim results
The JSE may be in for a bad Wednesday, judging by the all share index’s two largest constituents. In Hong Kong ahead of the JSE’s opening, the dominant asset of Naspers, Tencent, was down 1% to $348. In Sydney, its second-largest constituent, BHP, was down 0.8% to A$35.99 despite oil prices rising after Saudi Arabia said it would reduce its output in March.
JSE investors received bad news on Tuesday when construction group Wilson Bayly Holmes Ovcon (WBHO) warned that an Australian road project may drag it into a loss. WBHO’s share price closed 12.5% lower at R115.50 after issuing a statement saying it expected to make a loss on the project due to the “interpretation of the technical specifications within the contract bid design resulting in the underestimation of the physical construction works required under the design and construct contract”. The construction group is scheduled to release results for the first half of its 2019 financial year on February 26. A further piece o...
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