The JSE pushed to a four-month high on Tuesday, but eased off the psychologically important 57,000 point level in the afternoon, as the banking index slid.
Rand hedges fared well, however, while diversified miners extended Monday’s gains. Some miners have been boosted by a rising oil price, which earlier climbed above $68 a barrel for the first time in 2019. Oil has risen on continued pledges of production cuts by Saudi Arabia, while Venezuelan production continues to fall as a political crisis unfolds in that country.
Ascendis slumped 11.56% to R3.98, extending Monday’s 4.66% fall, when it reported that normalised HEPS fell 6% in the six months to end-December.
Source: News Formal (newsformal.com)
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