South African Stocks Rise Amid Naspers Rebound, New Vaccine

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South Africa’s main stocks benchmark rose for a second day after U.K. health authorities approved a coronavirus vaccine developed by AstraZeneca and the University of Oxford, an inoculation that’s expected to support emerging economies’ efforts to fight the pandemic.

The FTSE/JSE Africa All Share Index was up 1% as of 10:15 a.m. in Johannesburg, propelled higher by a rebound in shares of Naspers Ltd. and its unit Prosus NV from Monday’s lows that followed a Chinese antitrust probe of companies including Tencent Holdings Ltd., where Prosus is the largest shareholder.

  • Precious metal miners rose, with Anglo American Platinum Ltd. +2.9%, Impala Platinum Holdings Ltd. +1.5%, AngloGold Ashanti Ltd. +1.6% Gold Fields Ltd. +1.3%
    • Spot Platinum up 0.8%; spot gold broadly neutral
  • South Africa’s currency rose 0.3% to 14.6747 rand against the dollar
  • Foreign investors bought a net 0.29 billion rand ($19 million) of South African stocks according to the Johannesburg Stock Exchange

©2020 Bloomberg L.P.

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