The standout move on July 2, 2026 in Johannesburg did not come from the usual technology heavyweights or gold miners. It came from Sappi Limited, which surged 8.0% to ZAR 9.67, making it the top gainer on the day by a wide margin. That rally stood out even in a firm session, with the JSE All Share Index rising 0.76% to 110,449.25.
What makes the move more notable is that it happened while one of the market’s biggest index drags was firmly in reverse. Naspers fell 4.2% to ZAR 800.28, while Prosus lost 2.9% to ZAR 696.92. Given the outsized weight those two names carry on the JSE through their Tencent exposure, the broader market’s ability to finish higher says a lot about the strength underneath the surface.
Key figures
- SAP +8.0% at ZAR 9.67
- JSE All Share +0.76% at 110,449.25
- JSE Top 40 +0.80% at 102,083.88
- 36 stocks up versus 16 down
- USD/ZAR 16.271, down