Steinhoff offices. Picture: BLOOMBERG/DWAYNE SENIOR
Steinhoff offices. Picture: BLOOMBERG/DWAYNE SENIOR

The JSE is set for a busy day of reporting on Tuesday, with Steinhoff, MultiChoice Group, Brait and Alexander Forbes expected to publish financial statements.

SA’s main bourse is likely to open mixed, in line with Asian stocks, ahead of a two-day Federal Reserve meeting that begins later on Tuesday, and after US President Donald Trump sent 1,000 troops to the Middle East amid tensions with Iran.

Hong Kong’s Hang Seng Index rose 0.7% on Tuesday, while Japan’s Nikkei 225 fell 0.8%. The Shanghai Composite was flat, while Korea’s Kospi added 0.4% and Australia’s main benchmark gained 0.5%.

Chinese internet and gaming giant Tencent rose 1.4% in Hong Kong, suggesting a positive opening for major shareholder and JSE-heavyweight Naspers.

JSE-listed miner BHP Group was flat in Australia.

Steinhoff, which is still reeling from an accounting scandal, is finally due to report results for the year to end-September 2018.

In May, the retailer reported a net loss of €4bn for the year to end-September 2017, versus a loss of €279m in the previous 15-month period.

Meanwhile, MultiChoice Group, which recently flew the Naspers coop, is due to report results for the year to end-March. The pay-TV operator has said core headline earnings per share in the year rose by 8% to 12%.

Brait is also due to report numbers for the year to end-March. The group has warned that its reported net asset value per share was expected to fall by 23.4% to 27%.

Alexander Forbes, which is going through a restructuring process, will publish statements for the same period. The financial services group has said that headline earnings per share from total operations, after adjusting for write-offs, were 3.8% lower to 2% higher compared to a year before.

Landlords Adrenna Property Group and Schroder European Real Estate Investment Trust are also expected to report on Tuesday.

Statistics SA will release tourist accommodation, land transport and food and beverages statistics for April.

Elsewhere, the EU will publish consumer inflation and trade balance data and the US is due to release housing starts figures.

The rand was flat on Tuesday morning at R14.79/$, R18.55/£, and R16.62/€.

hedleyn@businesslive.co.za