The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
South Africa’s main stock index climbs 1.6% by 9:43 am in Johannesburg as gains in diversified miners and a rally in Richemont counters weakness in index giant Naspers Ltd. It’s the market’s first trading session of the week following Monday’s holiday.
Sasol reverses earlier weakness to be 0.9% higher. Stock retreated as much as 3.1% after the company said it expects to swing to losses after write downs on US chemical assets contributed to $6.3 billion of charges and oil prices declined.
South African stocks joins peers in Asia and Europe in rising, as risk sentiment is boosted by a drop in coronavirus pandemic hospitalisations in some US states, and by strong Chinese economic data.