Briefs

Midday Report 17 Sept with Leigh Riley

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The JSE all-share is up 0.2% with resources having climbed 0.83%, followed by financials up 0.68% in morning trade.

https://www.youtube.com/watch?v=KuDW1qMT0ao&feature=youtu.be

In company news; EOH's consolidated results for the year ending 31 July indicated an increase in revenue of 42%, with headline earnings per share up 32% to 446,6 cents. Cash was up 63% to R1.065 billon.

Richemont reported for its five months ending 31 August that sales rose 4%, missing analyst's estimates. This is largely due to a decline in Asia which was the source of over 40% of the company's sales last year.

The rand is trading weaker against the majors R10.94 to the Dollar, R14.18 to the Euro and R17.84 to theBritish Pound. Commodities are mostly weaker this morning; Gold is trading at $1,235/oz, Platinum at $1,367/oz and Brent Crude at $98.76/ Barrel.

In economic news the Chinese central bank has committed to injecting the equivalent of $81 billion to their banking system to curb the slowdown in the economy. Locally, we are expecting CPI numbers and retail sales data, and later in the USA the FOMC rate decision for 19:00 SA time.

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