South Africa Stocks Rally to Record as Tencent Surge Boosts Naspers
By
January 25, 2021
(Bloomberg) South Africaâs main stocks index jumped 2.1% as of 10:07 a.m. in Johannesburg, setting a fresh intraday record, as Naspers Ltd. was lifted by a surge in partly owned Chinese online giant Tencent Holdings Ltd. Retailer Woolworths Holdings Ltd. was also among the leading gainers, soaring the most since 1998 after an upbeat trading statement.
Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic.
Naspers advanced as much as 8.1%, the most in 10 months, to a new all-time high as Tencent jumped 11% in Hong Kong, the most since 2011. Naspers subsidiary, Prosus NV, which holds the companyâs 31% stake in Tencent, climbed 7.4% to the highest level since the company was carved out of the tech investor in September 2019.
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(Bloomberg)
Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic.
Naspers advanced as much as 8.1%, the most in 10 months, to a new all-time high as Tencent jumped 11% in Hong Kong, the most since 2011. Naspers subsidiary, Prosus NV, which holds the company’s 31% stake in Tencent, climbed 7.4% to the highest level since the company was carved out of the tech investor in September 2019.
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Woolworths climbed 15% after saying it experienced improved trading momentum across all businesses in the final six weeks of the period ended Dec. 27.
South African Stocks Climb to 2018 High With Index Above 60,000
Dec 17 2020, 3:34 PM
December 17 2020, 1:35 PM
December 17 2020, 3:34 PM
(Bloomberg)
(Bloomberg)
South Africaâs main equities index rallied beyond the 60,000 points level for the first time since August 2018, benefiting from positive sentiment toward riskier assets as investors mulled speculation Washington lawmakers are edging closer to a U.S. stimulus deal.
The benchmark FTSE/JSE Africa All Share Index gained 1.5% to 60,353 at 10 a.m. in Johannesburg, with miners, banks and retailers prominent among gainers. South African markets were shut Wednesday for a public holiday.
An index of mining stocks was 2% higher, with diversified giants BHP Group Plc, up 2%, and Anglo American Plc, rising 2.5%, leading the gains.