The JSE All Share index slid 0.45% in a mixed bag of trading, with short-term insurer Santam, logistics group Super Group, and tile retailer Italtile among the top gainers. US-based Montauk Renewables was the top loser, clawing back losses to end the day down 6.4% at R109.99 following a BNK Invest report that the stock was entering …
Markets Wrap: JSE dips in mixed bag of trading, rand trading at R14.33/$ Read More »
US-based Montauk Renewables dropped more than 15% in early trade on the JSE following a BNK Invest report that the stock was entering oversold territory. By 1pm on the JSE, the stock was trading down 10.64% at R105,01, more than 100% lower than its listing price of R215 in January this year. Montauk is one of the …
JSE’s first listing for 2021 – Montauk – drops 15% on oversold report Read More »
In a rare interview following the disappearance of the brothers Cajee of Africrypt, older sibling Raees (21) told the Wall Street Journal that the crypto firm’s portfolio was never as remotely as big as the $3.6bn (R51bn) investors claimed to have vanished. He told the WSJ’s Anna Hirtenstein that less than $5m (R71.3m) of the …
The JSE ended in the green on Thursday, with Old Mutual and mining and metals firm South32 leading the gains. Old Mutual hit a seven-month high before settling up 6.12% at R13.70 following its announcement that it would further unbundle its stake in Nedbank to only 7%, returning about R10bn in value to shareholders. South32 …
Markets Wrap: Old Mutual, South32 lead JSE higher Read More »
The share price of diversified financial services provider Old Mutual surged 8% in brisk trade on Thursday after the company announced it would further decrease its shareholding in Nedbank to just 7.2%. In 2018, Old Mutual decreased its stake to 19.4% from a majority 53% share in Nedbank. The shares traded 8.1% firmer at R13.96 …
Old Mutual share price surges 8% as shareholders cheer Nedbank bonanza Read More »
Bitcoin is having everyone on edge. While it recovered from a dramatic rout that briefly wiped out gains for the year a day before, the cryptocurrency staged a comeback. And as global regulators are stepping up scrutiny of the crypto industry, South African investors saw their boon turn to bane after the owners of their …
While you were asleep: R51bn Bitcoin boon turns to bane for local investors Read More »
A surge in mining shares on the back of strong commodity prices boosted the JSE All Share and Top-40 to both close up over 0.4% on the day. Among the winners were Barplats (+6.44%), Angloplat (+4.71%), Exxaro (+3.54%) and Sibanye Gold (+3.73%). Virgin Active owner Brait surged almost 13% after reporting a profit of R446m …
Markets Wrap: Rand firms on dollar dip, while miners fuel JSE jump Read More »
The rand traded back on the back foot as the dollar pushed the local currency back above R14.30 during the US session. By local markets close, the rand was hovering close to a one-month high, testing the mid-R14.30s yet again, writes TreasuryONE. “With not much news out locally nor elsewhere, the local unit continued to …
Markets Wrap: Weaker rand, higher oil bad news for motorists Read More »
Massmart has seen its localisation efforts benefit not only the group but has also helped to benefit more local suppliers. Over the last nine months, the group has struck up a fruitful partnership with the Department of Trade Industry and Competition (DTIC) and determined which of its imported products could be competitively manufactured by local …
With 69% of South Africa’s close to 10,000 Covid-19 infections as of yesterday, overflowing hospitals and desperate calls for oxygen, there is no doubt that Gauteng and its 15.6 million inhabitants are in great difficulty. Dr Imtiaz Sooliman, the founder of Gift of the Givers who had come to South Africa’s aid in many crises, …
While you were sleeping: Gauteng is in deep crisis, but there is hope Read More »
