| Sasol's shares rallied 15% to their highest level in almost two months yesterday after it announced the disposal of another non-core investment as it gets its balance sheet back in order. Its share price was also supported by a higher oil price in a risk-on environment that saw the much-watched Dow Jones index in New York top 30,000 for the first time ever. While US President Donald Trump took credit for the rise, Wall Street traders were calling it the 'Biden bounce'. It came after Pennsylvania certified Biden as the winner of the recent election in the state and followed news on Monday that the president-elect had chosen former Federal Reserve chair Janet Yellen as his Treasury Secretary. Back home, a number of other stocks also bounced, including Omnia, Coronation Fund Managers, Transaction Capital and Reunert after all four companies released their latest earnings reports. Tharisa plc climbed on the back of a trading statement ahead of full-year results next week. All the details are in today's newsletter. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics Gold is a theme this week from Ingham Analytics so watch out for top trader Andrew Kinsey's view on Thursday. This follows on from "Added weight" on Monday which relooked at the gold-backed ETF market. Some weeks ago, they raised the potential that gold long positions in both physical and stocks would go stale as the gold price plateaued. Whilst gold has broken through a support line the price retreat has been orderly. But, has one of the senior thematic trades of 2020 run its course or not? | 