JSE slips 0.19% as Nedbank pushes ahead with R13.9 bln NCBA deal

The JSE All Share fell 0.19% to 109904.12 on July 28, while the Top 40 lost 0.27% to 101832.16. Nedbank secured strong shareholder backing and lifted its stake in NCBA to 66% in a R13.9 billion deal, equivalent to $794 million, according to News24, BusinessTech and Financial Afrik. Corporate flow stayed active, with Ninety One extending its share buyback programme, UBS raising its stake in Sibanye Stillwater to 5.15%, and Sasol adding 330 MW of renewable power to take capacity above 500 MW, according to Moneyweb, Bitget and Stock Titan. Primary market activity also continued, with the Oribi South Africa Top 30 Index Prescient ETF listing on the JSE, according to african markets and Serrari Group.