Busy Tuesday for JSE watchers
BHP starts the big miner results week, followed by Glencore on Wednesday and Anglo American on Thursday
In a busy week for mining results, Tuesday started with BHP releasing its interim results in Australia ahead of the JSE’s opening. BHP will be followed on Wednesday by Glencore, and then Anglo American on Thursday. All the big miners are expected to report bumper profits, boosted by a rally in iron ore and other commodities. BHP, with a market capitalisation of R691bn at Monday’s closing price of R327.29, is the top 40 index’s second-largest constituent, behind Naspers. Although BHP is smaller than Glencore, which has a market cap of R809bn at Monday’s R55.47 closing price, Glencore is excluded from the top 40 index because it is deemed to be a foreign company by SA’s pension fund laws. Anglo American, which once dominated the top 40, has slipped to fourth place, with a market cap of R499bn at Monday’s R355.05 closing price.
Anglo American subsidiary Kumba Iron Ore said on January 24 that it expected to report on Tuesday that headline earnings per share (HEPS) for its 2018 fin...