JOHANNESBURG (Reuters) -The South African rand weakened on Tuesday after data showed the country’s second-quarter economic growth was slightly weaker than expected. At 1537 GMT, the rand traded at 17.9725 against the dollar, about 0.9% softer than its previous close. Gross domestic product expanded 0.4% in quarter-on-quarter seasonally-adjusted terms in April to June, below the …
By Sfundo Parakozov JOHANNESBURG (Reuters) -South Africa’s biggest vehicle dealership, Motus Holdings, on Tuesday reported a 28% slide in annual profit, sending its shares down. Motus’ shares were down 5% at 1452GMT, after its headline earnings per share – the country’s main profit measure – declined to 14.79 rand ($0.8286) in the year to June …
JOHANNESBURG (Reuters) -South African supermarket group Shoprite said on Tuesday that full-year headline earnings rose by 7.2% and announced the sale of its furniture business to discount retailer Pepkor. Headline earnings per share from continuing operations rose to 12.50 rand in the 52 weeks to June 30, up from 11.66 rand the previous year. The …
South African supermarket group Shoprite lifts annual profit by 7.2% Read More »
JOHANNESBURG (Reuters) – South Africa’s biggest grocery retailer, Shoprite, has agreed to sell its furniture business including the OK Furniture and House & Home brands to discount retailer Pepkor, the companies said on Tuesday. “The purchase consideration represents about 4% of Pepkor’s market capitalisation and will be settled in cash,” Pepkor, whose market value was …
South Africa’s Shoprite to sell furniture business to Pepkor Read More »
CAIRO (Reuters) – Egypt’s non-oil private sector activity expanded in August for the first time in well over three years, as demand stabilised and the economy improved, a survey showed on Tuesday. The S&P Global Purchasing Managers’ Index for Egypt improved to 50.4 in August from 49.7 in July, edging above the 50.0 threshold separating …
Egypt’s non-oil sector returns to growth in August, PMI shows Read More »
By Nia Williams and Arunima Kumar (Reuters) -Oil prices edged higher on Monday, recovering some losses from late last week, as Libyan oil exports remained halted and concerns about higher OPEC+ production from October eased. U.S. West Texas Intermediate crude rose 49 cents, or 0.7%, to $74.04 by 1924 GMT. Brent crude futures settled up …
Oil edges higher as halted Libyan exports balance expected OPEC+ supply boost Read More »
JOHANNESBURG (Reuters) -The South African rand was steady on Monday ahead of the release of second-quarter gross domestic product (GDP) data. At 1506 GMT, the rand traded at 17.86 per dollar, near its previous close of 17.85. Domestic investors will focus on the country’s second-quarter GDP figures due at 0930 GMT on Tuesday for signs …
By Stefano Rebaudo (Reuters) -The dollar edged down on Monday but remained within striking distance of its highest level in almost two weeks as investors’ focus moved to a U.S. jobs report due at the end of this week. U.S. payrolls, due on Friday, will be crucial after Federal Reserve chair Jerome Powell pivoted from …
Dollar eases after hitting highest in two weeks, US job data looms Read More »
By Harry Robertson and Wayne Cole LONDON/SYDNEY (Reuters) -Share markets fell slightly on Monday as investors braced for a data-packed week culminating in a U.S. jobs report that could decide whether a rate cut expected this month will be regular or super-sized. Survey data released on Saturday showed Chinese manufacturing activity sank to a six-month …
By Marwa Rashad, Francesca Landini, Mohamed Ezz and Sarah El Safty (Reuters) – Saudi Arabia and Libya have financed the purchase of gas cargoes worth at least $200 million to help Egypt ease its energy crisis this summer amid a steep decline in domestic gas output, two industry sources familiar with the matter said. Egypt …
Exclusive-Egypt counts on foreign funds to buy gas as power crisis worsens Read More »
