Famous Brands has decided to recognise an impairment of R874m pre-tax at Group level, with the basic loss per share expected to be up to 623 cents per share for the six months ended August 31, 2018.

The rand has strengthened further after Moody's Investors Service held off on its ratings review.

The UK and the European Union are on course to miss a key milestone on the road to a Brexit deal after talks hit a roadblock. Negotiations are now paused, putting pressure on leaders to step into the breach later this week.