Sun International expects a strong recovery in earnings during the six-month period until the end of June this year.Headline earnings per share are expected to improve by more than 100% compared to the prior period to a profit of between 83 and 101 cents per share.
All eyes are on a symposium in Jackson Hole, Wyoming where Fed boss Jerome Powell will deliver a speech that traders will follow for an idea about the bank's next moves. He said on Friday the policy board would"do what it takes to get there", but warned:"There's a path to getting inflation under control but a recession could happen in the process."
And National Australia Bank's Rodrigo Catril added that the Fed chief will likely say that"while we may be close to the end of the beginning of the current tightening cycle, we are still a long way from the end".Hong Kong, Tokyo, Sydney, Seoul, Mumbai, Taipei, Manila and Jakarta dropped. The stronger greenback was helping to keep oil prices down, while downward pressure was being enhanced by speculation rising about a possible Iran nuclear deal that could ease a supply crisis caused by Russia's invasion of Ukraine.
Major port and logistic companies from the UAE, Saudi Arabia, China and Europe, as well local players like Grindrod, and the Johann Rupert-chaired Remgro have made the shortlist of private partners for Transnet’s R100 billion upgrade to the crucial Durban port.This followed a request for information by Transnet last year to gauge interest from potential private bidders for infrastructure at the largest and busiest shipping terminal in sub-Saharan Africa.
An account of the July meeting due on Thursday may offer some insight, and about half of the ECB’s 25 rate setters -- including Executive Board member Isabel Schnabel and Bundesbank chief Joachim Nagel -- will get a chance to share their views during the Kansas City Fed’s annual Economic Policy Symposium in Jackson Hole, Wyoming.
South African data will probably show that inflation in July remained above the 6% top of the central bank’s target range for a third straight month, fueled by gasoline prices. The institution, which is scheduled to meet next on September 22, told lawmakers in a recent presentation that a return to the target band was"likely to be sluggish," with risks tilted to the upside.Powell at Jackson Hole on Friday morning is the week’s main event.