Banking stocks rally in SA
JOHANNESBURG –
Banking stocks rallied more than 4 percent on Tuesday after opening weaker following the South African Reserve Bank’s (SARB) published relief measures for the banking industry.
Banking stocks rallied more than 4 percent on Tuesday after opening weaker following the South African Reserve Bank’s (SARB) published relief measures for the banking industry.
The banking index was 5.36 percent higher at noon to 5 488.28 points.
This was despite the fact that SARB on Monday advised banks to not distribute dividends and put bonuses for senior executives on hold amid the coronavirus outbreak.
Source: iol.co.za