2. Libstar, the food group which owns Lancewood dairy products, Denny and other brands, tanked in its first day on the JSE.
3. The rand weakened to a low point of R12.72/dollar amid a global sell-off after US President Donald Trump’s decision to pull out of an international nuclear deal with Iran. But the local currency strengthened somewhat to R12.55 by late last night. The rand is still performing better than its peers.
4. MTN will be the South African company worst affected by the US decision to reinstate sanctions against Iran. The group said yesterday that the sanctions may restrict its ability to repatriate cash from MTN Irancell, its subsidiary.
5. The German investor ATON yesterday filed a notification with the Competition Commission that it wanted to buy Murray & Roberts. M&R execs are still resisting the offer of R7.2 billion, saying it “materially undervalues” the company.