Traders to keep a close eye on election results and news of higher US tariffs on Chinese goods
SA’s largest stock exchange is likely to open mixed on Friday, with the ANC expected to have won SA’s elections by a narrower margin than before and as investors digest the news that the US has raised tariffs on Chinese goods.
Meanwhile, global markets were mixed on Friday after the US and China failed to reach a trade deal, meaning higher US tariffs on Chinese goods kicked in. Hong Kong’s Hang Seng index was 0.6% up on Friday, and the Shanghai Composite gained 1.5%. But Japan’s Nikkei 225 was down 1% and Korean and Australian stocks were marginally lower.
Kaap Agri said in April that despite “the lingering pressures from the recent drought” and the struggling retail sector, it increased revenue in the six months to March 2019 by 28.7% to R4.4bn.
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