JSE rises 1.6% as Nedbank deal and new ETF listings drive focus

The JSE All Share rose 1.6381% to 110109.6 on July 27, while the Top 40 gained 1.7648% to 102102.83. Nedbank led corporate headlines with a planned acquisition of a 66% stake in NCBA for $794 million, or R13.9 billion, after securing strong shareholder backing, according to Financial Afrik, News24 and The Kenyan Wallstreet. The exchange also saw fresh product activity, with the Oribi South Africa Top 30 Index Prescient ETF debuting on the JSE on July 23, according to african markets and Serrari Group, while additional Satrix MSCI World Islamic Feeder ETF and AMI ETF securities were listed on July 27. On the corporate side, Ninety One extended its share buyback programme on July 22, according to Moneyweb, while Sasol said on July 21 it added 330 MW of renewable power, taking capacity above 500 MW, according to Stock Titan.