MTN appears to be firing on all cylinders, with its South African business continuing its strong recovery to match its operations in Nigeria and Ghana. A quarterly update from the network operator was well received by the market yesterday, sending its shares more than 13% higher at their best.

While MTN led the JSE's leaderboard, there were a number of other big gainers, including Steinhoff International after it gave an indicative pricing range for Pepco Group when it lists its European subsidiary on the Warsaw Stock Exchange in three weeks' time.

DRDGOLD topped the loser board after it released an operating update. Following a strong first half to its financial year, production declined in the third quarter and it also received a lower rand gold price, putting pressure on earnings.

More on those stories to follow, along with a positive trading statement from Transaction Capital, which expects to resume dividend payments this year. Good news, too, from Murray & Roberts. Subsidiary Clough has won another contract in Australia, adding to a growing order book. And Tharisa Plc is expanding outside of South Africa with the acquisition of Salene Chrome Zimbabwe.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect