Global markets opened the new week with a sea of green screens with some Asian markets closed for a holiday while investors are awaiting US inflation figures due out later on Tuesday as they look for any indication of possible interest rate hikes from the Federal Reserve.
The JSE added 1.55% to see the All Share Index close just below the 70,000 point mark.
In the currency markets, the dollar retreated further on Monday ahead of the US CPI numbers.
“Economists forecast an 8.1% YoY print vs last month’s 8.5%. A lower number would see the Fed’s odds of another 75 bps rate hike later this month decline,” comments forex trading house TreasuryONE.
Back on the local bourse, Lesaka Technologies (-4.41%), recently rebranded from Net1 UEPS, reported a revenue jump of 70.1% to R3.38 billion to end-June.
The firm completed a R3.8 billion acquisition of Connect Group in April, bringing about 44,000 new merchant clients to its business
Brait (5.94%), the majority owner of gym chain Virgin Active, said the recovery in its SA gym business had seen sales recover to above pre-pandemic levels.
In a voluntary trading update, Brait said operating conditions remain difficult for Virgin Active while its consumer goods business Premier Foods has recently seen a strong operating performance.
