Flash Briefing: Telkom's shift in focus bears fruit; Ramaphosa goes slow; Naspers' Tencent; Aspen chill
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In today's headlines:
Telkom was a big mover on the JSE as its share price jumped nearly 14% to an all-time high of just over R98 per share after it released its Group Provisional Annual Results for the year ended 31 March 2019.
Other JSE stocks that gained in value on Monday included Pioneer Foods, which rose about 4%, and Sappi, which gained about 2.5%. Losers of the day included pharmaceuticals company Aspen, which shed about 4.5%.
The big political story on Monday set out likely candidates for deputy president. With President Cyril Ramaphosa’s inauguration over, the focus is on who he will appoint to his new cabinet.
In global news, Chinese technology stock Tencent suffered a blow as one of its big investments, China Literature, continued to fall in value.
Global stocks gained Monday after voters in European Union parliamentary elections showed broad but more fragmented support for pro-EU parties, while populist factions gained less ground than expected.
Also benefiting from an improvement in the Euro was the rand, which closed at R14.44 to the greenback on Monday afternoon.
Telkom was a big mover on the JSE as its share price jumped nearly 14% to an all-time high of just over R98 per share after it released its Group Provisional Annual Results for the year ended 31 March 2019.
Other JSE stocks that gained in value on Monday included Pioneer Foods, which rose about 4%, and Sappi, which gained about 2.5%. Losers of the day included pharmaceuticals company Aspen, which shed about 4.5%.
The big political story on Monday set out likely candidates for deputy president. With President Cyril Ramaphosa’s inauguration over, the focus is on who he will appoint to his new cabinet.
In global news, Chinese technology stock Tencent suffered a blow as one of its big investments, China Literature, continued to fall in value.
Global stocks gained Monday after voters in European Union parliamentary elections showed broad but more fragmented support for pro-EU parties, while populist factions gained less ground than expected.
Also benefiting from an improvement in the Euro was the rand, which closed at R14.44 to the greenback on Monday afternoon.
