(Nigel Jared/Getty Images)
In a fairly busy day for the JSE, Harmony reported its good news streak continues, while Standard Bank is seeing earnings growth as well. Sasol got some good news as well, while Transnet, Trustco, and Ascendis didn’t. In international news, German EV sales plunged 30% in May, the latest data shows, dragging down Europe by 12%. This may help drive competition for more affordable vehicles.
Gold miner Harmony said it expects total production for its year to end June to exceed the guidance of 1.55 million ounces (48 210kg) while all-in-sustaining costs will come in comfortably below R920 000/kg, as guided. “Operational excellence, alongside our safety efforts, has ensured that we recorded another stellar year,” CEO Peter Steenkamp said in a statement. “We continue delivering excellent underground-recovered grades from our South African operations. I commend each operation for its positive performance. Total underground recovered grades will be higher than the guided 6g/t for full year 2024,” he said. Harmony, valued at about R104 billion on the JSE, was up about 2% late on Thursday afternoon and has just over doubled in the past year.
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