An almost 10% jump in Nedbank on expectations of a bumper increase in interim earnings and the subsequent surge in the banking index was not enough to counter a slide in heavyweight miners dragging the JSE down 0.76% to end the day on 68371.23 points. Nedbank’s shareholder Old Mutual (+5.35%) and banking peers Absa (+8.28%), …
Market Wrap: JSE slips as surge in banks fail to counter mining rout Read More »
A rebound in Naspers and Prosus and a strong showing from Vukile Property lifted the JSE into the green, with the All Share index ending 0.28% higher on 68,898.04 points. The tech counters tracked a comeback in Chinese tech giant Tencent, adding 2.81% and 3.15% respectively, while Vukile jumped 3.5% on optimism for a quick …
Market Wrap: JSE tracks rebound in Naspers, while rand gives up gains Read More »
A carnage in JSE tech heavyweights Naspers and subsidiary Prosus has dragged the JSE into the red, with the All-Share index closing down 0.17%. Naspers lost 7.40% and Prosus, through which it has a 29% exposure to Tencent, lost 6.97% after the Chinese gaming and tech behemoth suffered a fresh attack after a state media …
Market Wrap: Banks, rand-hedges buoy JSE as yet another Tencent selloff hits Naspers Read More »
The JSE started the week off on the back foot, dipping 0.21%, with the mining sector weighing on the bourse. Anglo American (+1.38%) was a rare spot of green amid a sea of red, with Sibanye Stillwater (-1.21%), Gold Fields (-0.09%) and Kumba Iron Ore (-0.03%) all losing some ground. Platinum players Angloplats (-1.27%), …
Market Wrap: Anglo bucks trend as miners lead losses on weaker JSE Read More »
The JSE reversed its fortunes of the last two days, ending down 0.85% on broad stock losses with Anglo American and BHP the biggest drag on the index for industrial miners. Other miners tracked the 2.72% and 2.18% drop in the pair respectively, with Kumba Iron Ore (-0.17%) and Implats (-0.74%) losing some ground. Gold …
Markets Wrap: JSE closes the week on a low amid mixed stock performance Read More »
The JSE extended its two-day winning streak, adding 1.52% on a share-surge in bourse-heavyweights mining giant Anglo American and internet behemoth Naspers. The diversified miner gained 4.37% as it banked $12.1bn (~R177.5bn) in earnings in the first half of 2021, reaping the rewards of the current commodity price boom, while Naspers (+4.08%) and subsidiary Prosus (+3.93%) continued …
Market Wrap: JSE extends winning streak on surge in Anglo and Naspers Read More »
The JSE gained almost 2% after bourse heavyweight Naspers strapped up its boots to claw back almost 8% as investors kept calm and bought on the dip after a two-day selloff in the tech giant. Subsidiary Prosus, through which it has a 29% exposure to China’s tech woes, also stemmed the bleeding, gaining 6.86% on …
Market Wrap: Naspers comeback gives JSE a solid boost Read More »
Losses in Naspers and Prosus dominated the JSE as the local tech heavyweights continued to bleed from yet another blow from social media and gaming giant Tencent. Adding to uncertainty in the midst of a two-day selloff in the technology sector, the most valuable company in China announced it was suspending new user registrations for …
Market Wrap: Tencent-ravaged Naspers and Prosus dominate trade on weaker JSE Read More »
A massive 7.88% gain in Amplats as the platinum miner recorded a 572% increase in first-half earnings and declared a record interim dividend, has buffered an equally huge drop in Naspers and subsidiary Prosus, leading the JSE to end flat. Shares in online giant Tencent, in which Naspers (-7.18%) holds a 29% stake through Prosus (-7.60%), …
Market Wrap: JSE flat as a surge in Amplats buffers hit on Naspers and Prosus Read More »
The JSE ended the week on a high note, gaining another 0.98% to close at 68,063.70 points in a busy corporate news day. Telkom dropped 2.55% after announcing its CEO will step down next year, while Vodacom jumped 1.12% on its 14% gain in first quarter revenue. Retailers Pepkor gained 4.26% after announcing that sales rebounded almost 14% as it …
