Tuesday, 20 October 2026

Nedbank's acquisition of a 66% stake in Nairobi-listed NCBA is now complete, adding about 60 million clients across Kenya, Uganda, Rwanda and Tanzania and contributing around 11% of earnings.

The JSE closed 1.3% higher after a strong push around 2pm, as investors grew hopeful of another Middle East deal, which pushed the oil price down and lifted risk assets.

Analysts expect oil to oscillate between $100 and $120 a barrel until the reported ceasefire is confirmed, with inflation staying elevated and interest rates likely higher for longer.

DRD Gold reported first-quarter revenue up 31% and a 14% increase in gold sold, with the rand gold price up 14% year on year, making it the standout of the day's production updates.