South Africa’s main stocks benchmark rose for a second day after U.K. health authorities approved a coronavirus vaccine developed by AstraZeneca and the University of Oxford, an inoculation that’s expected to support emerging economies’ efforts to fight the pandemic.
The FTSE/JSE Africa All Share Index was up 1% as of 10:15 a.m. in Johannesburg, propelled higher by a rebound in shares of Naspers and its unit Prosus NV from Monday’s lows that followed a Chinese antitrust probe of companies including Tencent, where Prosus is the largest shareholder.
Precious metal miners rose, with Anglo American Platinum Ltd. +2.9%, Impala Platinum Holdings Ltd. +1.5%, AngloGold Ashanti Ltd. +1.6% Gold Fields Ltd. +1.3%Spot Platinum up 0.8%; spot gold broadly neutral.
South African Stocks Rise Amid Naspers Rebound, New Vaccine
Lukas Strobl, Bloomberg News A logo stands on the wall in the reception area of the Johannesburg Stock Exchange (JSE) in the Sandton district of Johannesburg, South Africa, on Monday, Sept. 3, 2018. The emerging-market sell-off may have already battered South Africa s rand, but it could get worse as traders fret about a push for land reform that may have far-reaching economic consequences and is catching the attention of world leaders. Photographer: Waldo Swiegers/Bloomberg , Bloomberg
(Bloomberg) South Africaâs main stocks benchmark rose for a second day after U.K. health authorities approved a coronavirus vaccine developed by AstraZeneca and the University of Oxford, an inoculation thatâs expected to support emerging economiesâ efforts to fight the pandemic.
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TICKERS: BRO; BRKCF, BBB, BU, CXB; CXBMF, CTM, CXN; CHN, AIR; CLRMF, DEG, DRR, GGD, IMP, IVN; IVPAF, KNT, MGR; MGLQF, MMX, MENE; MENEF, MTA; EXCFF, NNO, PLUG, RVG; RVLGF, ROXG, SAU
Looking Back at 2020, Looking Ahead to 2021: Outstanding Resource Performers
Interview
Streetwise Reports (12/29/20) Ralph Aldis, portfolio manager at U.S. Global Investors, in this interview with Streetwise Reports, discusses resource companies that have been top performers in 2020 and, looking ahead to 2021, names companies that he expects to outperform.
Streetwise Reports: Ralph, thanks for joining us today. 2020 has been a year that no one predicted. What lessons have you learned from the last year?
Adelaide Changole Financial stock exchange market display screen board on the street
South Africa’s main stock benchmark drops for a fourth day, falling 0.2% by 9:42 a.m. in Johannesburg, with weakness in index giant Naspers Ltd, and a downturn in miners countering a resurgence in banks and gains in heavyweight Richemont.
Naspers, with an 18% weighting on the index, falls for a second day, down 0.5% to provide the biggest drag to the index, as partly owned Tencent Holdings Ltd retreats in Hong Kong.
BHP Group Ltd. (-0.7%) leads 0.4% drop in the index for mining stocks.
Sub-index for gold companies falls for a second day, down 1.9%, as the rand price of bullion drops to the lowest since March 20.
South African Stocks Fall as Weak Miners Eclipse Rising Banks bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.