The Week Ahead

The Week Ahead

31 March - 4 April

The Rand

While the Rand has experienced some volatility, it has remained relatively stable over the past week. Global trade tensions, including the U.S. announcement of tariffs on imported vehicles, have contributed to market volatility. However, the direct impact on the Rand has been limited compared to other currencies more closely tied to the automotive industry.

Commodities

Over the past week, gold prices have surged to record highs, driven by increased demand for safe-haven assets amidst rising global trade tensions. The U.S. announcement of tariffs on imported vehicles has escalated these tensions, prompting investors to seek refuge in gold. Additionally, strong central bank demand and inflows into gold ETFs have further bolstered gold's appeal.

Oil prices have also experienced a notable increase due to concerns about tightening global supplies. The decline in U.S. crude inventories and ongoing sanctions on Venezuelan and Iranian oil have exacerbated supply constraints. Furthermore, threats of tariffs on countries purchasing Venezuelan crude have added to the uncertainty surrounding global oil supplies. Despite plans for gradual production increases by OPEC+, current supply constraints remain a key focus.

Copper prices have seen a significant surge, driven by a combination of supply constraints and robust industrial demand. Disruptions in major copper-producing regions, such as Chile and Peru, have limited supply growth. Additionally, anticipation of U.S. tariffs on copper imports has led to stockpiling, further tightening global supply and driving prices higher.

Companies

Datatec Limited: in its FY24 trading update, announced that total group profit is expected to be approximately $910.00m from $862.00m recorded in the previous year.

Metair Investments Limited: FY24 results showed diluted EPS to have increased to 138.00c from 11.00c in the previous year.

Remgro Limited: its interim results for the six months ended 31 December 2024, showed diluted EPS to have increased to 653.00c from a loss per share of 295.00c in the prior year’s comparative period.

Barloworld Limited: in its voluntary trading update for the five months to 28 February 2025, guided that group EBITDA declined by 12% from R1.90bn to R1.60bn while operating profit from core trading activities declined by 20.5% from R1.30bn to R1.10bn.

Oceana Group Limited: in its voluntary trading update for the 5 months ended 23 February 2025, revealed that Lucky Star Foods achieved a 5.0% increase in sales volumes during the period, driven by sustained demand for affordable protein and the continued brand and range expansion strategy. Moreover, production volumes doubled in Fishmeal and fish oil (Africa) segment, following the successful upgrades to the West Coast facilities and their respective closures in the prior period.

ADvTECH Limited: FY24 results showed diluted EPS increased 15.5% from the prior year.

Raubex Group Limited: in its FY24 trading update expects HEPS to be between 15.0% and 25.0%, higher than in the previous year.

Astral Foods Limited: in its 1H25 trading update expects HEPS to be between 55.0% and 60.0%, lower than in the prior year’s comparative period.