Rising oil prices may boost Sasol on Monday
The health of SA’s telecoms industry will be in focus this week, with Vodacom scheduled to release results on Monday and Telkom on Tuesday
Monday may be a good day for Sasol and other oil-price related shares, but another bad day for Naspers, which is likely to follow Tencent lower. The Brent crude oil price was 2.42% higher at $71.31 a barrel and West Texas Intermediate (WTI) was 1.9% higher at $60.88 a barrel ahead of the JSE’s opening. Oil prices halted a four week slide after a meeting of producing nations at the weekend failed to reach an agreement to reduce supplies. Standard Bank’s WTI price tracking exchange-traded note reached a peak of R16.57 on October 4 and has since lost nearly a quarter of its price.
Naspers’s main asset, Tencent, was down 1.93% to HK$273.80, taking its cue from the Nasdaq composite index, which fell 1.65% on Friday. The health of SA’s telecoms industry will be in focus this week, with Vodacom scheduled to release its interim results on Monday and its former parent, Telkom, on Tuesday. Vodacom has not issued a trading statement, as would be required if its earnings differed by more ...
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