Hits&Misses

Mr Price offers shares on A2X as consumer confidence tumbles

THE A2X exchange, which launched a platform for secondary listings in October 2017, has won over another JSE top 40 company, Mr Price Group. Mr Price shares will be tradable on A2X from May 2. The retailer said it would retain its primary listing on the JSE and its issued share capital would be unaffected by the secondary listing on A2X.

STANDARD Bank Group said earnings attributable to shareholders were 8% higher in the three months to end-March compared to the year before, thanks in part to “strong growth” in the rest of Africa. The performance of the South African banking business “continued to be impacted by the difficult domestic operating environment”.

LOAD-SHEDDING during the first quarter of 2019 would have been far worse without the contribution made to the grid by renewable energy, a study by the Council for Scientific and Industrial Research has found.

CONSUMER confidence declined to its lowest level in more than a year in the first quarter as expectations of an economic recovery dimmed. The consumer confidence index was at 2, dropping from 7 in the previous quarter, First National Bank said.

Though a net majority of consumers remain positive, the gauge is at its lowest level since the final quarter of 2017.

SUGAR and property group Tongaat Hulett has confirmed it is likely to have to restate previously released financial information due to the findings of the strategic and financial review launched in March. It told shareholders the restatement “might have a material effect on the price of the company’s securities”.

COAL producer Wescoal said the dismissal of all 274 contract mining workers at its Vanggatfontein mine after a violent strike would reduce its supply to Eskom in coming weeks.