| The second wave of Covid-19 sweeping across Europe sent global equity markets lower last week as a number of countries announced new lockdowns, threatening the global economic recovery. The JSE followed, with the All Share decline 0.4% on Friday, taking its losses for the week to 6.6%. Friday's decline was cushioned by an 11% recovery in Sasol's share price and higher closes for Naspers and Prosus after the Amsterdam-listed offshoot of the internet and media group announced plans to buy shares of both companies to try and narrow the gap they continue to trade at relative to the value of their underlying investments. While the repurchases will only commence later this month after both companies have released interim results, investors already appear encouraged by the move. MTN's shares also went against the gloomy trend, rising on the back of positive third-quarter results and continued growth in subscriber numbers. Meanwhile, Texton Property Fund rallied after it said a consortium of property investors would make a mandatory offer to minority shareholders after recent share purchases pushed its holding above a key threshold. Also today, Rand Swiss wealth manager Viv Govender says many South Africans remain uninformed about the options available to them to make the most of their retirement savings. Finally, in The Week Ahead, Chris Gilmour looks back at the news that influenced the markets last week and what to look out for in the days ahead. I hope you have a good week. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics Last Friday, Prosus announced a share buyback of both Prosus and Naspers shares. A combined share repurchase worth $5 billion, $1.4 billion of Prosus stock and $3.6 billion of Naspers stock. Read the latest Ingham Analytics views in "Ant's away" and "Ant(icipating) a listing". Bank shares ended the week weak (see "Sink or swim?") and they'll be updating their views following the medium-term policy statement. | 