At one point yesterday, the JSE's All Share Index had erased all its losses for the year, recovering from March's massive slump after the Covid-19 pandemic escalated and countries across the globe went into lockdown. Bloomberg ran with the story, highlighting the contribution made by Naspers following a 44% rise in its share price this year.

While Naspers and Amsterdam-listed subsidiary Prosus have benefitted from demand for the online services and games that are provided by Chinese associate Tencent, Datatec has also done well out of the lockdown. Demand for remote access solutions and network security has been on the rise as companies try to function with their employees stuck at home. Its shares rallied on the back of a positive business update.

Brait also closed higher after saying that its Virgin Active health club chain was getting back into shape following lockdown conditions, while food group Premier had continued its strong operating performance. News from Capital & Counties was less positive as it marked down the value of its London properties due to Covid-19.

Also today, Wescoal has slumped into a loss due to a number of issues at its collieries, including Covid-19, while MC Mining has secured more funding as it moves ahead with its Makhado coal project in Limpopo.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect

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