SA Midday Market Report 29 September with Leigh Riley
It's been an interesting start to the trading week with political protests in Hong Kong kicking off some concerns in emerging markets.
https://www.youtube.com/watch?v=W9NXeRTHYto&feature=youtu.be
Our local bourse is weaker in morning trade down 0.13%, led once again by resource stocks.
In company news, a number of stocks have gone ex-div today including Kap Industrial Holdings, African Rainbow Minerals, MMI Holdings and Spur.
Capitec Bank released its unaudited results for the six months ending 31 August. Headline earnings were up 21% to R1.173 billion, Headline Earnings Per Share (HEPS) up 21% to 1018 cents, the interim dividend per share up 21% to 246 cents. Return on equity was 25%, and the growth in net transaction fee income was up 34%.
The Rand is at its weakest in over 8 months to the US currency, trading at R11.30 to the Dollar, R18.34 to theBritish Pound and R14.32 to the Euro. In commodities Gold is trading at $1,219/oz, Platinum at $1,303/oz andBrent Crude at $96.60/barrel.
In economic news we are expecting pending home sales from the USA this afternoon.
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