Naspers is looking at ways to reduce its dominance of the JSE, an issue that is hampering efforts to narrow a widening valuation gap between the company and its stake in Chinese Internet giant Tencent.
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South Africa’s main share index jumped 2.1% as of 10.07am in Johannesburg, setting a fresh intraday record, as Naspers was lifted by a surge in partly owned Chinese online giant Tencent.
In Christian Klein’s first year as sole CEO at SAP, the company’s shares had their worst performance in 12 years. The pandemic damaged sales. And he lost his co-CEO in a high-profile ouster.
Hong Kong’s equity traders can’t get enough of Tencent Holdings, the $926-billion giant that’s on pace for its biggest ever monthly gain.
In the waning days of Donald Trump’s presidency, Jeremy Grantham warned that US stocks were in an epic bubble. He now predicts Joe Biden’s economic recovery plan will propel them to perilous new heights, followed by an inevitable crash.
Intel gave an upbeat forecast for the current quarter on continued demand for PCs that enable working and studying from home. The stock jumped.
Cape Town-founded agritech start-up Aerobotics has raised $17-million in a series-B funding round led by Naspers.
Elon Musk, the outspoken South African-born entrepreneur behind Tesla and SpaceX, is now the richest person on the planet.
Cartrack, whose shares more than doubled in value in 2020, plans to delist from the JSE and file for an initial public offering on the Nasdaq, the company announced on Thursday.
Investors are weighing how big to go on US technology stocks in the coming year, as pricier valuations, regulatory risks and a revival of the market’s beaten-down names threaten to dim their allure.