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Sanlam surges nearly 6%

Johannesburg - Shares in Sanlam jump nearly 6 percent, on course for their biggest daily gain in more than two years, after South Africa's second biggest insurer gave a forecasts-beating full-year profit guidance.

Sanlam said diluted headline earnings per share are likely grow between 35 and 40 percent in the year to end-December, above a 23 percent increase pencilled in by six analysts polled by Reuters.

Sanlam's Bellville head office in the Western Cape. Picture: David Ritchie. Credit: INDEPENDENT MEDIA

Shares in the Cape Town-based firm are up 5.51 percent to 50.48 rand. - Reuters

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