SA Market Highlights | 22 - 16 April
Outline
● The downturn in gold prices, touching a more than two-week low on Tuesday, was driven by easing concerns about an escalation in the Middle East crisis and potential profit taking activities.
● The Department of Statistics South Africa reported a 0.8% year-on-year decrease in retail sales for February 2024
Overview
● Tencent Holdings’ share price rallied after an earlier than anticipated debut of one of the year's most eagerly awaited mobile games. Naspers and Prosus shares increased 10% and 9%, respectively, since Monday the 22nd.
#NPN#PRX
● Mondi shares surged 9.2% on Friday after the company announced its decision to abandon the fight to purchase industry peer DS Smith. The board concluded that the proposed deal would not offer shareholders sufficient value.
#MNP
● The banking regulator approved Old Mutual’s banking licence. The insurer plans to call its new lender OM Bank.
#OMU
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