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05 January 2021
Hello Voornaam,

The JSE kicked off 2021 with a 1.8% gain - putting it back within reach of the all-time high of 61,685 it hit three years ago. Reuters credited last week's landmark Brexit trade deal and coronavirus vaccination campaigns for a rally in European shares on the first trading day of the year - although it will take longer for the vaccines to reach South Africa. Still, the sentiment was positive yesterday.

While Sasol's shares rose in early trade after it announced the completion of the sale of its stake in the Gemini high-density polyethylene joint venture in the US, they declined later in the day as the price of Brent crude oil fell. Santam, on the other hand, rose after saying it was going ahead and processing claims for some customers whose businesses were affected by the Covid-19 lockdown.

More on those stories to follow, along with news of Sirius Real Estate's latest purchases as it kicks off the new year on an acquisitive note. Also, Labat Africa's full-year results, which have been well telegraphed to the market.

Finally, Conduit Capital Sean Riskowitz says he won't take any pay until shareholder value in the company has been restored. Perhaps something other CEOs should consider?

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect



Todays Latest Headlines
Sasol closes Gemini sale
The cash proceeds from the transaction will be used to repay near-term debt obligations.
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Santam starts assessing lockdown claims
The short-term insurer will continue with its application for leave to appeal the Ma-Afrika judgment, specifically regarding the indemnity period.
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Conduit CEO to defer compensation
Sean Riskowitz says he will delay all personal remuneration until shareholder value is restored.
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Sirius acquires three new business parks
The German-focused real estate group says it continues to benefit from a strong cash position as it makes further acquisitions.
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Labat Africa recovers on healthcare investments
The investment company has moved out of the fuel business as it focuses on growing its healthcare assets.
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