The value of SA companies with earnings linked mainly to economic conditions, such as banks, insurers and retailers, rose by billions of rand on Friday after it became clear that the ANC, DA, IFP and smaller parties would form a government of national unity (GNU) and co-operate in the key provinces of KwaZulu-Natal and Gauteng.

Standard Bank’s share price surged 5.58%, Capitec’s 5.36% and Nedbank’s 4.28%. Among insurers that rallied were Sanlam (3.76%), Old Mutual (7.51%) and Discovery (6%). Shoprite’s stock rose 4.51%, while Pick n Pay added 6.14%...

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