|Bid||7.15 x 30000|
|Ask||7.20 x 30000|
|Day's Range||7.15 - 7.15|
|52 Week Range||1.23 - 20.20|
|Beta (5Y Monthly)||2.21|
|PE Ratio (TTM)||6.83|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar. 14, 2019|
|1y Target Est||N/A|
The Turkish lira resumed its sharp fall on Wednesday on investor worries of a full-blown currency crisis and as a firm dollar made it more vulnerable to a squeeze, while emerging market stocks fell on doubts over coronavirus aid in the United States. The lira weakened 1.7% to 7.32 against the greenback, as investors looked for more substantial moves from the Turkish central bank to stave off a meltdown in the currency amid concerns over depleted reserves and costly state FX interventions. The central bank's decision to halt cheaper funding that had allowed primary dealers to borrow well below its policy rate helped support the lira in the previous session but the optimism did not carry through to Wednesday.
(Bloomberg) -- Sasol Ltd. said it will swing to a full-year loss per share after writedowns on U.S. chemical assets contributed to 112 billion rand ($6.3 billion) of charges and oil prices declined.The South African fuel and chemical maker’s results for the year ended June 30 were “impacted by the Covid-19 pandemic and a severe decline in crude oil and chemical product prices,” Sasol said in a trading statement.Lower demand for fuel due to the coronavirus pandemic, along with a battering for oil prices, weighed on a company already reeling from mismanagement and cost overruns at the Lake Charles Chemicals Project in Louisiana. Sasol has accelerated an asset disposal program aimed at reducing debt and avoiding a last-resort rights offer.Sasol shares rose 2.6% as of 10:04 a.m. in Johannesburg as crude oil futures in New York climbed for a second day on signs that the spread of the pandemic is decelerating in the U.S. The gains trimmed Sasol’s retreat in 2020 to 48%, still on course for the worst year since 1998.Sasol’s base chemicals business will take an impairment of 71.3 billion rand, with an additional 27.7 billion rand charge for performance chemicals, mainly in the U.S. Its energy operations will write down 12.5 billion rand across the portfolio.The rand price of Brent crude oil declined by 18% for the financial year and was coupled with softer global chemical and refining margins, Johannesburg-based Sasol said Tuesday. The company expects a loss per share of between 146.75 rand and 148.75 rand, compared with earnings per share of 6.97 rand for the previous financial year.Sasol’s annual results will be released Aug. 17.(Updates with shares higher in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- South Africa’s main stock index climbs 1.6% by 9:43 a.m. in Johannesburg as gains in diversified miners and a rally in Richemont counters weakness in index giant Naspers Ltd. It’s the market’s first trading session of the week following Monday’s holiday.Sasol reverses earlier weakness to be 0.9% higher. Stock retreated as much as 3.1% after the company said it expects to swing to losses after write downs on U.S. chemical assets contributed to 112 billion rand ($6.3 billion) of charges and oil prices declined.NOTE: Sasol Sees Loss With $6.3 Billion in Write-downs, Oil Slump South African stocks joins peers in Asia and Europe in rising, as risk sentiment is boosted by a drop in coronavirus hospitalizations in some U.S. states, and by strong Chinese economic data.Richemont rises for a fifth session, up 2.9% in the biggest gain since June 23. British American Tobacco Plc +3.6%, MTN Group Ltd +4.7%, and Mondi Plc +3%Stronger rand lifts index for bank stocks up 2.6%FirstRand Ltd. +1.5%, Standard Bank Group Ltd. +1.9%, Absa Group Ltd. +3%, Nedbank Group Ltd +4%, Capitec Bank Holdings Ltd. +2.6%, Investec Plc +3.6%Diversified miners BHP Group Plc and Anglo American Plc climb as iron ore prices rise, pushing gauge for mining stocks up 0.9%NOTE: Iron Ore Futures Gain as China’s Economic Recovery Fuels DemandBHP +3.1%, Anglo American +3.6%, Glencore Plc +3.7%, African Rainbow Minerals Ltd. +1%Exxaro +3.4%, even as company says headline earnings may decline as much as 34% in the six months to June 30NOTE: Exxaro Sees 1H HEPS Decreasing Between 18% & 34% y/yWeaker bullion prices push sub-index for gold producers to its lowest in more than two weeksGold Fields Ltd. -4.9%, AngloGold Ashanti Ltd. -3.7%, Harmony Gold Mining Co. -5.2%, DRDGold Ltd. -3.4%, Pan African Resources Plc -2.8%Naspers, with a 18% weighing on the index, falls 2% to its lowest intraday level since June 17 to provide biggest drag on the market. Naspers subsidiary Prosus NV falls 2.5%Foreigners were net sellers of South African stocks on Friday, disposing of 156 million rand worth of shares, according to bourse operator JSE Ltd.NEWS:Africa’s First Electric Bus Plant Industrializes a RegionFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.