Vaccine News May Keep Giving JSE Direction Today

The Johannesburg Stock Exchange faces higher Asian markets this morning, but a sharply lower Tencent, as investors consider the prospect of a Covid-19 vaccine by year-end.

Drugmakers Pfizer and BioNTech announced on Monday that the preliminary results of their vaccine show it prevents more than 90% of infections, boosting the hope that there may be a return to economic normality in coming months. Tencent, which gives direction to the JSE via shareholder Naspers, had fallen 3.3%.Telkom is expected to report a rise in profits for its half year to end-September later, amid growth in its mobile business. The group said in a recent trading update that headline earnings per share are expected to rise by between 15% and 25%.

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