SA Company News:
The Johannesburg Stock Exchange All-Share Index closed 0.24% higher at the 89 927 level.
Anglo American Plc said that they have begun initial discussions with major banks regarding a potential initial public offering (IPO) for its De Beers diamond unit. This move is part of Anglo’s broader restructuring plan, which aims to exit non-core businesses following pressure from shareholders and a $49 billion takeover attempt by BHP Group. While the company is also exploring selling De Beers to a private buyer, the IPO serves as a backup option. CEO Duncan Wanblad emphasized that the company will not rush to offload De Beers, aiming to avoid destroying shareholder value while the market remains weak. Although Anglo does not expect major progress on the De Beers exit in the first half of 2025, it remains hopeful that the process will accelerate later in the year.
In a trading update from Datatec Limited for the year ended 28 February 2025, the company said that they expect gross profit for FY25 to be approximately US$910 million (FY24: US$862 million), representing a year-on-year increase of 6%, driven by strong demand for technology solutions, particularly in cyber security and hybrid cloud infrastructure. Earnings per share (EPS) and headline earnings per share (HEPS) showed positive growth compared to the previous financial year. EBITDA increased due to improved operational efficiencies and cost control measures. Datatec intends to release its FY25 results on SENS on or about 27 May 2025.
Ascendis Health Limited reported an improved financial performance for the six months ended 31 December 2024, reflecting its ongoing turnaround strategy. Revenue increased by 9% to R795 million, driven by strong growth in the Consumer Health and Pharma segments. Gross profit margins improved slightly to 44.5%, supported by better pricing strategies and cost efficiencies. The company posted an operating profit of R72 million, compared to an operating loss in the prior period, reflecting improved profitability. Headline earnings per share (HEPS) rose to 12.4 cents from a loss of 3.8 cents per share in the previous year. The net debt position was significantly reduced to R320 million, strengthening the balance sheet and improving financial flexibility.
SA Economy:
Real take-home pay reached a three-year high in February 2025, driven by easing inflation and steady wage growth, according to the latest BankservAfrica Take-home Pay Index (BTPI). The average real take-home pay increased by 10.7% year-on-year to R15 799, up from R15 665 in January. This rise follows a 12.8% increase the previous month, reflecting the positive impact of a low-inflation environment, with consumer inflation forecast at 3.6% for 2025, the lowest since 2020. While nominal take-home pay only rose slightly from R18 141 in January to R18 241 in February, it remains well above the R15 983 recorded a year earlier. However, fiscal pressures persist, with higher VAT rates and the absence of personal income tax bracket adjustments weighing on consumer confidence, which dropped notably in the first quarter of 2025.
Global Economy:
Mortgage applications in the US fell by 2% in the week ending March 21, following a 6.2% drop in the previous period, according to the latest data from the Mortgage Bankers Association.
U.S factory orders for business equipment unexpectedly fell in February amid tariff and tax policy uncertainty. Core capital goods orders dropped 0.3%, while shipments rose 0.9%.
Profits of China’s industrial firms declined by 0.3% y-o-y to CNY 910.99 billion in the first two months of 2025, reflecting ongoing deflationary pressures and rising trade tensions with the US.
Global Company:
The FTSE 100 closed 0.3% higher at 8 689, as oil exporters led gains, boosted by rising copper and crude prices amid global concerns over Trump’s tariff plans.
The Hang Seng Index is trading 0.85% higher at 23 679.
Hong Kong stocks rose as investors shrugged off tariffs on car imports by US President Donald Trump. Li Auto rose 4.4%, BYD was up 2.9% and Geely Auto traded 0.5% higher, while Xiaomi fell 2%.
In China, the Shanghai Composite is up 0.22% at 3 376.
The Dow Jones Industrial Average closed 0.31% lower at 42 454, while the S&P 500 closed 1.13% lower at 5 712.
President Donald Trump announced a 25% tariff on foreign-made cars, effective April 2. General Motors and Ford fell by approximately 6% and 5%, respectively, following the news. Technology stocks were also lower, with Tesla (-5.6%), Nvidia (-5.7%), Meta (-2.5%), Palantir (-4.4%) and Amazon (-2.2%).
Commodities:
Gold is trading higher by 0.31% at $3 032/oz, while Platinum is higher by 0.55% to $975/oz.
Brent crude was 0.61% higher at $73.71 a barrel.
Currency:
The rand traded at R18.21 against the US Dollar, R23.53 against British Pound and R19.63 against the Euro.
The Euro is slightly weaker against the US Dollar to trade at $1.0778.
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| Market Indicators | |||||||
| Commodities $ | Cross Currencies ($) | Major Indices | |||||
| Gold | 3032.58 | 0.31% | USD/ZAR | 18.21 | Top40 | 82541.04 | 0.28% |
| Platinum | 975.20 | 0.55% | GBP/ZAR | 23.53 | Dow 30 | 42454.79 | -0.31% |
| Brent | 73.71 | 0.61% | EUR/ZAR | 19.63 | S&P 500 | 5712.20 | -1.13% |
| Copper | 5.25 | -0.57% | EUR/USD | 1.0778 | FTSE | 8689.59 | 0.30% |
| Palladium | 967.25 | 0.98% | USD/JPY | 150.27 | DAX | 22389.03 | -3.22% |
| Iron Ore | 102.75 | 1.22% | BITCOIN | 87428.45 | Shanghai | 3376.18 | 0.22% |
| Source: FACTSET | |||||||