Here’s what caught our attention on Thursday:
1. Zuma to hear judgment on legal funds
The Pretoria High Court will give its verdict on Thursday on whether former president Jacob Zuma must pay legal fees for his corruption cases. The state says that, so far, Zuma has used between R15 million and R30 million of taxpayers money to fund his own legal battles.
Update to follow.
2. Trans Hex results
Diamond mining company, Trans Hex released its results for the period ended September 30, 2018, in which headline earnings per share amounted to 41.5 cents, from a loss of 195.1 cents recorded in 2017. Earnings per share amounted to 37.6 cents, also from a loss of 188.4 cents in 2017. The company says, during the period, shareholders approved the sale of the Lower Orange River operations for a cash consideration of R72 million. The company has resolved not to declare a dividend for the period.
3. Amplats trading statement
Anglo American Platinum expects growth in its mining production for the 12 months ended December 31, 2018, as it forecasts that headline earnings and headline earnings per share will be at least 20% higher than the previous period, to R777 million and 297 cents, respectively. It is also flagging a 20% increase in basic earnings and basic earnings per share to R302 million and 149 cents, respectively. Results will be released on February 18, 2019.
4. African Oxygen trading statement
Industrial gases company, African Oxygen is flagging a decrease in earnings for the period ending December 31, 2018. Afrox says basic earnings per share is expected to be between 31.6% and 20.8% lower to 139.3 cents and 161.3 cents; while headline earnings per share is expected to fall between 25.1% and 13.3% to 150.0 cents and 174.3 cents. The decrease is being attributed to the 2018 fiscal year restructuring and impairment costs. Results will be published around March 4, 2018.
5. November PPI
Producer Price Index for November is expected to be released on Thursday. In October PPI increased 6.9% following a 6.2% gain in September.
Update to follow.