SA Company News:
Naspers and Prosus have both lost more than 7%, with their shares trading at more than one-year lows on Tuesday.Chemicals and explosives group AECI is due to report its results for the half year to end-June later, having said in a recent trading statement it expects headline earnings per share (HEPS) to more than double, due to the costs of restructuring in the year-earlier period, from which it is now benefiting.
S&P Global Ratings said on Tuesday that it did not expect SA’s credit rating to be affected in the immediate term by the recent looting and violence but that if it were to be prolonged or repeated, ratings could be at risk.SOUTH African state-owned ports and freight-rail company, Transnet, on Tuesday said it had made “significant progress” in restoring its IT systems after disruptions caused by a cyber attack.
Investor focus will be on the Fed, however, as markets wait to see just how quickly monetary conditions will tighten as the world’s largest economy recovers and inflation accelerates.Apple fell in after-hours trading after warning that sales growth may slow.General Electric reported on Tuesday second quarter earnings that beat analysts forecasts and revenue that topped expectations.
Gold was up 0.34% to $1,804.97/oz while platinum had added 0.67% to $1,059.98. Brent crude was up 0.15% to $74.83 a barrel.
The rand was flat at R14.77/$.
Bitcoin had traded in a range of $38,946.6 to $40,295.4 in the previous twenty-four hours.
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