JSE Top 40 drops 3.5% as Absa targets 85% stake in Kenya unit

The JSE Top 40 fell 3.5007% to 104258.73 points on June 19, while the JSE All Share dropped 2.9424% to 112610.79 points. Absa Group offered R3.93 billion, or $238.6 million, to raise its stake in its Kenyan unit to 85%, according to Moneyweb and The Africa Report. On the corporate front, Naspers issued a trading statement and Datatec announced a refinancing of Westcon International alongside a minority investment, according to JSE filings. The day's regulatory flow also included the listing of RLN181, an additional listing for the Satrix MSCI Emerging Markets Feeder, and notices covering ARM, RMB Holdings, Mr Price and BIACSA, according to market announcements.