| Apologies if you received an empty newsletter this morning - it seems the gremlins have jumped aboard early this year. But it gives me the opportunity to update you on Sasol's share price, which bounced more than 9% by lunchtime. That's after the energy and chemicals group's shares failed to respond to a sharp rise in the oil price and a much weaker rand yesterday, declining by as much as 5% before recovering to close just slightly lower. The company's fortunes are very much tied to the dollar price of oil and chemicals, which means it gets an additional benefit when the rand weakens. While that didn't reflect in yesterday's price movement, it is coming through today. Brent crude oil has also added to yesterday's more than 4% gain, with Reuters reporting that OPEC and other large oil producers were nearing a compromise to hold production steady next month and after Saudi Arabia offered to make voluntary production cuts to support the oil price. The rand weakened by over 2% against the dollar, the euro and the pound, with rumours of the return to Level 5 lockdown restrictions and the resultant economic impact said to be weighing on the currency. Hyprop was also one of yesterday's big losers. Apart from the potential impact of a new lockdown on its shopping centres around the country, the property fund was forced to withdraw a circular outlining last year's distribution - and issue a new one. That's after the JSE said its plan for paying the distribution didn't comply with minimum requirements for real estate investment trusts. More on that to follow, along with Mondi's latest acquisition as it strengthens its position in the Turkish corrugated packaging market. Also, Tsogo Sun Hotels continues to build its shareholding in Hospitality Property Fund ahead of the close of its general offer at the end of the month. Have a good day. Stephen Gunnion Managing Editor, InceConnect
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