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South Africa Stocks Rally to Record as Tencent Surge Boosts Naspers By January 25, 2021 (Bloomberg) -- South Africa’s main stocks index jumped 2.1% as of 10:07 a.m. in Johannesburg, setting a fresh intraday record, as Naspers Ltd. was lifted by a surge in partly owned Chinese online giant Tencent Holdings Ltd. Retailer Woolworths Holdings Ltd. was also among the leading gainers, soaring the most since 1998 after an upbeat trading statement. Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Fe...

Word Count: 510 (Bloomberg) —  Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic. Naspers advanced as much as 8.1%, the most in 10 months, to a new all-time high as Tencent jumped 11% in Hong Kong, the most since 2011. Naspers subsidiary, Prosus NV, which holds the company’s 31% stake in Tencent, climbed 7.4% to the highest level since the company was carved out of the tech investor in September 2019. Tencent Jumps as Citi Boosts Target, Kua...

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Private-equity investors in southern Africa are closing deals again after a virus-induced lull, tapping a cash pile that stood at more than R30 billion rand in June, according to an industry association. Businesses in the education, health care and retail sectors operating online are among the top picks for investors seeking to take advantage of market gaps amplified by the Covid-19 pandemic, Tanya van Lill, chief executive officer of the Southern African Venture Capital and Private Equity Association, said by phone. “From a venture-capital perspective, we are seeing a lot of activity in Ea...

South Africa Stocks at Record in Best Start to Year Since 1999 Bloomberg 1/8/2021 South Africa’s main stock index rose for a fifth day and headed for a third consecutive record close, with banks rallying as optimism over a global economic rebound fueled appetite for riskier assets. Local market giant Naspers Ltd. added impetus to the advance, rebounding from Thursday’s losses as global technology shares rose. The FTSE/JSE Africa All Share Index advanced 1% as of 4:07 p.m. in Johannesburg, extending its gains this week to more than 7%, the best performance over the first five trading ses...