JSE slips 0.3% as Nedbank and Sibanye lead the newsflow
The JSE All Share fell 0.29% to 118068.33 points and the Top 40 lost 0.35% to 110203.2 points on April 22. Nedbank drove much of the corporate flow, expanding its payments partnership with Mastercard according to Africa Business Communities, advancing a sustainable finance framework according to Windhoek Observer, and launching a Data Masters challenge with a 500000-rand prize according to Bizcommunity, while also saying Namibia remains a promising market according to Windhoek Observer. Sibanye-Stillwater led mining headlines, asking the EU for concessions as it ramps up what would be Europe's first lithium mine, according to Reuters, and saying PGM prices should remain underpinned by investment and speculation, according to Mining Weekly. On the market side, the JSE suspended a 500000-emalangeni fine for a breach of listing requirements, according to Eswatini Positive News, while BoTong Civils reported a 418% revenue jump through the JSE's SME programme, Mail & Guardian reported.
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The JSE All Share rose 1.15% to 115180.53 on April 30, while the Top 40 added 1.16% to 107229.42. Canal+ confirmed a Johannesburg listing for June 3, a move that would make it the first French company to list on the JSE, according to The Citizen, Advanced Television, Deadline and TV with Thinus. Sibanye-Stillwater stayed in focus across sector coverage, with reports on new palladium applications, sustainability and a higher JPMorgan stake, according to Mining Review Africa, Mining Weekly and Geomechanics.io. In corporate news, Shoprite released its 2024 annual report and set a virtual AGM date, while Absa Investment Bank hired Deutsche's South Africa CEO and Aspen Pharmacare disclosed the resignation of an executive director, according to MSN, Moneyweb and an April 30 filing.