The JSE ended the month of February 2.19% weaker, dragged lower by precious metals (-15.22%), resources (-13.23%) and industrial metals (-11.32%).
In yesterday’s trading session, Mr Price (JO:MRPJ) traded at the lowest level since November 2020 and is slightly above R150 per share. Sibanye-Stillwater (JO:SSWJ) fell 3.72% to R43.24, the most in a week, after reporting an almost 50% decline in annual profit, mostly because of a three-month long strike at its SA gold mines and flooding at its platinum operations in Montana in the US.
Figure 1: Mr Price's Historical Share Price Chart (Source: ThinkTrader Web)
This morning, Woolworths (JO:WHLJ) (ASX:WOW) released half-year results for the period which ended on the 25th of December 2022. Turnover increased by 15% and profit before tax increase by 63.3%. The half-year dividend per share has been increased by 96.9% to 158.5 cents.
Harmony Gold (JO:HARJ) also released its half-year results for period which ended on the 31st of December 2022. Net profit increased by 36% and no dividend was declared due to the allocation of capital towards near-term copper and growth projects, the miner said.
CashBuild (JO:CSBJ) also reported it’s half-year results for the period ended on the 25 of December 2022. Revenue declined by 4% and the dividend per share fell 32% to R4 a share.
In economic news, South Africa’s unemployment rate was released yesterday. The annual rate fell slightly to 32.7% from 32.9% in the last quarter of 2022 reaching the lowest level in two years. The unemployment rate is still above prepandemic levels however.
Market Moves (28 February 2023)
Key companies expected to release results this week
28.02
01.03
- Harmony Gold (JO:HARJ)
- Cashbuild (JO:CSBJ)
- Aspen (JO:APNJ)
- Impala Platinum (JO:IMPJ)
- Curro (JO:COHJ)
- Santam (JO:SNTJ)
- Mustek (JO:MSTJ)
- FirstRand (JO:FSRJ)
- Grindrod (JO:GNDJ)
- Sasfin (JO:SFNJ)
02.03
03.03
- AB Inbev (JO:ANHJ)