OLD MUTUAL LIMITED – Acquisition of securities by Blackrock Inc, and more

 OLD MUTUAL LIMITED – Acquisition of securities by Blackrock Inc, and more

OLD MUTUAL LIMITED – Acquisition of securities by Blackrock Inc.

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The Johannesburg Stock Exchange’s Top 40 index slipped 0.17% to 67,578 points Friday, while the broader All-Share index fell just 0.03% to 74,325 points. Gold and platinum companies dragged down the blue-chip index as a drop in spot gold and platinum prices erased some of Thursday’s gains. Northam Platinum was the biggest loser in the index for the second day in a row, down another 8.45% on Thursday’s decline as the company’s shares were pressured by a disappointing trade report.

The rand weakened against the dollar from a five-month high on Friday, although it still posted a weekly gain after the central bank raised the repo rate, citing inflation risks related to the Ukraine crisis. At the end of the day, the rand was slightly firmer against the dollar at R14.53, or 0.04% higher. The rand has been among the best performing emerging market currencies since Russia’s invasion of Ukraine a month ago. It has been supported by higher prices for commodities such as gold, palladium, platinum and coal, which have benefited resource-rich South Africa.

Gold prices fell this morning as hopes for progress in peace talks between Russiaand Ukraine scheduled to take place this week dampened safe-haven demand for gold, while a stronger U.S. dollar and higher yields continued to weigh on the metal. Oil prices fell about $4 this morning as concerns grew about lower fuel demand in China after authorities in Shanghai announced they would close the country’s financial centre for a COVID -19 test period over nine days.

OLD MUTUAL LIMITED – Acquisition of securities by Blackrock Inc

Shareholders are advised that Old Mutual has received formal notification that BlackRock Inc. has acquired an aggregate interest in the Company’s common stock, such that BlackRock Inc.’s aggregate interest in the Company’s common stock is now 5.01% of the Company’s total common stock outstanding.

EASTERN PLATINUM LIMITED – Full Year Results

Revenues increased 21.5% to $68.2 million, from $56.1 million in the corresponding period last year. Loss per share attributable to Eastplats shareholders decreased to $0.01 per share, from $0.09 per share in the prior period. Loss per share attributable to Eastplats shareholders decreased to $0.01 per share, from $0.08 per share in the corresponding period last year.

Mandy Nunes

https://gvmarkets.com/

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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