Markets

JSE may follow stronger Asian markets as global tension eases

The JSE was under pressure on Tuesday, as renewed global political tension made investors risk averse — hammering equities but benefiting safe-haven assets like gold.

But Wall Street closed higher overnight on Tuesday, and Asian markets took their cue from that on Wednesday.

Gold also rose in Asian trade on Wednesday, ahead of the JSE’s opening, up 0.3% to $1,313.10/oz, Reuters reported.

Among companies reporting results on Wednesday are miner Sibanye, real-estate investment trust Growthpoint and Torre Industries.

Sibanye jumped 6.94% to R21.89 on Tuesday‚ as the sector in general soared. The company has warned it will report an interim loss of R4.8bn.

Growthpoint shares were unchanged at R24.72 on Tuesday. The company will report final results to June on Wednesday‚ having previously reported a 26.1% increase in gross revenue‚ and a dividend per share of R1.83.

Torre Industries was unchanged at R1.26 ahead of its full-year results on Wednesday.

It warned shareholders earlier in August that headline earnings per share (HEPS) would be between 25% and 45% lower than the previous period’s 16.61c.

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