Flash Briefing: Ramaphosa cabinet cull begins; Pioneer plummets; GOT set-back knocks Naspers
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President Cyril Ramaphosa has moved quickly to show he is serious about cleaning up his cabinet following May 8 elections.
On the JSE, Pioneer Foods was the big loser of the day. Its share price plunged about 12% after the release of its half-year results.
Also dragging down the JSE FTSE All-Share Index was Naspers, which dropped about 4% on Monday. South Africa’s Naspers, with 31%, is the biggest shareholder in Hong Kong listed Chinese tech giant Tencent, which took a hit earlier in the day.
Also hammering Hong Kong stocks were concerns about US sanctions against Chinese mobile phone company Huawei.
The top gainers on the JSE on Monday were Liberty Holdings and Harmony, up around 3% by the end of trading. The rand was trading at just over 14 to the US dollar, and 16 to the Euro, while R18 could get you one pound.
On the JSE, Pioneer Foods was the big loser of the day. Its share price plunged about 12% after the release of its half-year results.
Also dragging down the JSE FTSE All-Share Index was Naspers, which dropped about 4% on Monday. South Africa’s Naspers, with 31%, is the biggest shareholder in Hong Kong listed Chinese tech giant Tencent, which took a hit earlier in the day.
Also hammering Hong Kong stocks were concerns about US sanctions against Chinese mobile phone company Huawei.
The top gainers on the JSE on Monday were Liberty Holdings and Harmony, up around 3% by the end of trading. The rand was trading at just over 14 to the US dollar, and 16 to the Euro, while R18 could get you one pound.
