The JSE pushed higher on Wednesday, with much of the gains due to Naspers, amid a lack of major catalysts on the day.
Global news was also downbeat. The Organisation for Economic Co-operation and Development earlier downgraded its global forecast for 2019 growth to 3.3% from 3.5% previously. Stadio leapt another 5.14% to R3.89, pushing gains for the week to 16.82%. It said on Monday that revenue for the year to end-December jumped five-fold to R632m from the same period in 2017.
In addition to all this, there have been allegations that there were irregularities in the initial granting of the cellular licence to MTN Irancell, at the expense of Turkcell, and litigation is ongoing.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE flat as Naspers offsets slump by banksGlobal equities have been buoyed by further signs that a US-China trade deal is imminent, while local banks and gold miners came under pressure
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE slips as rand pushes to R14.40/$Local bourse tracks weaker world markets, despite an 18% surge by MTN, while the euro and rand slide
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE falls despite better-than-expected GDP growthThe local bourse brushes off positive local economic news, with miners, retailers and industrials under the most pressure on the day
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE kicks off new month positivelyAfter gaining 3.41% in February, the all share began March with broad-based gains, with rand hedges leading the pack
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE remains flat as miners gain and banks fallNaspers fell 4% after unbundling MultiChoice, which largely offset its parents losses, but a softer dollar overnight supported local miners
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: Flood of disappointing results keeps JSE underwaterThe JSE edged lower as Massmart fells 6% and Blue Label Telecoms 25%, although AB InBev surged 5% and local economic data on the day was positive
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand softer as market waits for new catalystsThere are few major events on Wednesday to give the rand its direction, with focus on Thursday's European Central Bank policy announcement
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand softer as market waits for new catalystsSouth Africa's economy grew by 1,4% in the last quarter of 2018, however, the rands continues to be volatile in 2019.
Source: eNCA - 🏆 49. / 51 Read more »