Mr Price to list on A2X

The Mr Price Group is set to become the latest South African company to list on the A2X Markets exchange.

A2X, which has been active since October 2017, is a licensed stock exchange which provides secondary listings for SA companies.

In an update to shareholders on Tuesday, Mr Price said it would retain its primary listing on the Johannesburg Stock Exchange. Its issued share capital will be unaffected by the secondary listing on A2X.

Mr Price Group’s ordinary shares will be available to be traded on both the JSE and A2X from the A2X listing date of May 2, 2019.  

Asian stocks fluctuate; dollar edges higher

Andreea Papuc, Bloomberg

Stocks in Asia fluctuated Tuesday as investors look to a deluge of earnings for reasons to carry an equity rally further. The dollar and 10-year Treasuries rose.

With all the region’s markets on deck after the Easter holiday, equities posted modest gains in Japan, while they swung from gains to losses in narrow ranges in Hong Kong and China.

Australia had the biggest advance, led by energy producers. Energy stocks on the MSCI Asia Pacific Index also outperformed after oil jumped to a six-month high as the White House said it will scrap waivers that allow the purchase of some Iranian crude.

Volumes were below 30-day averages throughout Asia ahead of Japan’s Golden Week extended holiday.

European futures signaled stocks will rise after the Easter holiday weekend shut trading in much of Europe Monday.

Traders have a week full of company earnings releases to look forward to, in particular from major technology firms. They’ll also be focused on the US economy, with first-quarter gross domestic product data due Friday.

With corporate reporting season in full flow, investors are looking for clues as to whether the dovish policy pivot from the world’s central banks can shore up global growth enough to outweigh any weakness in earnings.

In the previous session, the S&P 500 Index closed about 1 percent below its all-time high.

“Some of the world’s biggest technology companies are reporting earnings this week as well as a raft of the big European banks,” Nick Twidale, chief operating officer at Rakuten Securities Australia, said in a note to clients Tuesday. “Investors will be hoping for some better-than-expected results from both groups to keep the topside momentum in global equities. If the data starts to show a significant slowing across these key industries then expect both stocks and risk trades to start to come under some heavy pressure.”

Elsewhere, Sri Lankan stocks plunged and bonds fell for a second day after terror attacks on Easter Sunday killed more than 300 people. The Colombo All-Share Index tumbled as much as 2.6 percent, the most in more than four years, as the Colombo Stock Exchange reopened for trading.