JSE falls 1.34% as Nedbank and Sibanye drive the session

The JSE All Share fell 1.34% to 115942.72 on Aug. 11, while the Top 40 dropped 1.38% to 108085.6. Nedbank dominated the flow with first-half profit described as flat to slightly higher by Moneyweb, EWN and Business Day, while its AI strategy has unlocked 375 million rand in value, according to ITWeb, and the group wants to invest $842 million in NCBA to deepen its East Africa push, according to Dabafinance and The Asian Banker. Sibanye-Stillwater completed its 1.4 billion rand acquisition of Metallix Refining, while BlackRock increased its stake, reports GuruFocus. On the primary market side, the JSE listed the Benguela AI fund on Aug. 7, according to Africa Business Communities, while Dangote could consider a South African listing after the planned $5 billion IPO of its Nigerian refinery, according to Business Insider Africa.