The JSE is likely to record a third day of gains on Monday, judging by a strong rally in stock markets trading ahead of it. Both Hong Kong’s Hang Seng and Sydney’s S&P/ASX 200 indices were nearly 1% stronger, helped by rising oil prices. Brent was trading 0.39% higher at $54 a barrel and West Texas Intermediate 0.37% higher at $51 a barrel. Stronger oil prices along with a slightly weaker rand at R13.23/$ are likely to help Sasol rebound from Friday’s 0.66% drop to R409. The JSE’s all share index gained 0.42% on Friday, joining a global rally in which the S&P 500 gained 0.68%. The South African life insurance subsidiary of Old Mutual had its credit rating affirmed at BBB- with a negative outlook by S&P Global Ratings on Friday night. "We factor into our rating the consolidated view of Old Mutual Emerging Markets (Omem) group, of which we regard Old Mutual Life Assurance Company SA (Omlacsa) as a core subsidiary. The ultimate parent, Old Mutual, is still undergoing a managed separati...
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