Picture: Thobile Mathonsi
Picture: Thobile Mathonsi

7 things you need to know today

By Dhivana Rajgopaul Time of article published Nov 16, 2020

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CAPE TOWN - Good morning. This is all the latest business news that you need to know today.

1. Telkom’s mobile business grows

The market last week cheered the growth in Telkom’s mobile business during the six months to September as the group said it was looking to unlock shareholder value through looking at third party investors at Gyro, its mast and towers business.

2. Anchor Group is latest company to delist from JSE

Wealth and asset management company Anchor Group has become the latest company to announce its intention to delist from the JSE early next year amid a “difficult South African listed equity market”.

3. Rand continues to strengthen against the greenback

The South African rand ended the week on a strong footing, briefly teetering on the R15.5/$ threshold before giving up some gains towards the end of the European session according to NKC Research.

4. Tsogo Sun hails end to travel ban, but still not out of woods

Tsogo Sun Hotels said on Friday that it welcomed the lifting of the international travel ban as announced by President Cyril Ramaphosa last week after it suffered a loss for the six months to the end of September.

5. Gemfields sells its stake in Sedibelo Platinum Mine

JSE- AND AIM-listed coloured-gemstone producer Gemfields was selling its minority stake in Sedibelo Platinum Mine (SPM) in the North West province, the group reported on Friday.

6. Novus profits severely knocked by Covid-19

Novus Holdings said on Thursday that its profits slid by more than 83 percent for the six months to end September, hurt by the reduced demand across all product categories as a result of the Covid-19 outbreak.

7. Prosus shares claw back previous day's losses

Prosus’s share price climbed 6.72 percent to R1 657.11 on the JSE at midday on Thursday, reversing the previous day’s 6.1 percent decline.

BUSINESS REPORT ONLINE

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