The JSE. Picture: SUNDAY TIMES
The JSE. Picture: SUNDAY TIMES

The JSE is likely to open higher on Monday morning, taking its cue from Asian markets, which rose in early trade despite the prospect of a delayed resolution to the trade war between the US and China.

The Shanghai Composite rose 1.3%, while Hong Kong’s Hang Seng index was 0.7% up at the lunch break, boosted by Tencent’s 2.1% gain. The technology company is 31% owned by Naspers, implying a strong opening for Africa’s largest public company on the local bourse.

Japan’s Nikkei 225 index was 0.6% higher. Australian stocks were 0.2% up, with JSE-listed resources giant BHP Group 1.3% higher in that market.

On the JSE, Sun International and AdvTech are due to report annual results on Monday, while Ascendis Health is scheduled to report interim numbers.

Sun International said last week its adjusted diluted headline earnings per share (HEPS) would fall by between 275c and 330c, versus 298c the prior year.

Ascendis, which will present its financials to analysts at 10am, said in early March that its normalised headline earnings from continuing operations, a metric that excludes capital profits of R19.6m from the sale of its Isando manufacturing facility, would decline by between 4% and 9%.

Concerns about tepid organic growth and high debt levels have weighed on Ascendis’s shares. The decline has been compounded by forced selling on the part of its mainstay investor, Coast2Coast.

Grand Parade Investments (GPI), the local representative of Burger King, is also due to release interim numbers. GPI said last week it would report a loss for the six months ended December owing to the failed Dunkin’ Donuts and Baskin-Robbins brands.

It expected to report a basic loss per share of up to 8.52c, from earnings of 2.92c a share a year before.

Meanwhile, the rand was slightly stronger on Monday morning, trading 0.17% firmer against the dollar at R14.40/$. Versus the pound, the local currency was 0.24% stronger at R19.13/£, and against the euro it was 0.06% firmer at R16.32/€.

hedleyn@businesslive.co.za