DA Leadership Shift and Mixed Market Close Mark Weekend News Flow
Cape Town Mayor Geordin Hill-Lewis is now the leader of the Democratic Alliance (DA), confirming a leadership transition that places him at the helm of South Africa’s main opposition party as it operates inside the Government of National Unity. The appointment comes at a time when the party is trying to balance its governing role with internal renewal, and it immediately reshapes the political centre of gravity within the DA.
South African financial markets ended the final trading session of the week in positive territory. The Johannesburg Stock Exchange closed higher on Friday, with the All Share Index (ALSI) gaining 0.69% to finish at 119,025. The move reflected broad-based strength across sectors, led by financials and industrials, while global markets remained relatively steady and commodities delivered a mixed performance. Cryptocurrencies, however, came under renewed pressure heading into the weekend.
JSE Finishes Week Firmer With Broad Gains
The JSE ended Friday’s session on a stronger note, with the ALSI rising from an opening level of 118,458 to close at 119,025. The index traded in a relatively wide range between 117,696 and 119,646 but held onto gains through the final stretch of the session.
A single sector did not drive the advance; rather, it was a general uplift across the board. Financials and credit services led with a 2.45% gain, followed by industrial materials up 2.12%. Pharmaceuticals and biotechnology added 1.98%, beverages rose 1.71%, and personal goods increased 1.69%. Property stocks also ended firmer, up 1.49%.
The Financial 15 index gained 0.89%, while the Industrial 25 rose 0.81%. Mid-cap and small-cap shares also participated, adding 0.88% and 0.58% respectively, reinforcing the broad nature of the session’s gains.
HEAVYWEIGHTS AND MINERS SUPPORT SENTIMENT
Large-cap counters added weight to the positive close. AB InBev advanced 1.71%, Richemont gained 1.67%, AngloGold Ashanti rose 1.63%, Naspers added 1.14%, and BHP climbed 1.04%.
Resource-linked shares also contributed to stability in sentiment, with Anglo American, Glencore, and Gold Fields all ending the session higher. The mining complex helped offset intermittent weakness in parts of the industrial and telecom space.
Among individual performers, Alphamin led the gainers with a 4.34% rise. Redefine, Thungela, Optasia, and South32 also posted solid advances, while Sasol added nearly 2%. On the weaker side, Telkom fell 3.55%, making it the worst performer of the session, with Datatec, Reunert, Vodacom, and selected platinum counters also finishing lower.
LIQUID STOCKS DOMINATE TRADING ACTIVITY
Trading volumes remained heavily concentrated in large, liquid shares. AngloGold Ashanti led activity with turnover exceeding R1.35 billion, followed by MTN Group at just under R940 million. Naspers, FirstRand, and Gold Fields also ranked among the most actively traded counters.
The flow suggested continued investor focus on established large caps, particularly in financial services and resources, even as smaller companies contributed to the broader upward drift in indices.
RAND STEADY, COMMODITIES MIXED
Commodity markets were mixed. Gold was unchanged at $4,780 per ounce, while silver slipped 0.48% from the previous day. Platinum and palladium recorded modest gains. Brent crude rose almost 0.91% to $96 per barrel, offering mild support for energy-linked shares.
GLOBAL MARKETS QUIET BUT POSITIVE
Global equity markets ended the week on a steady footing. The Hang Seng edged higher, while major US and European indices, including the S&P 500, Dow Jones, DAX and CAC-40, remained broadly stable near recent levels.
MICHELANGELO HOTEL REMAINS EMPTY AMID LEGACY DISPUTE
The property, part of the Michelangelo Towers complex, has not reopened since the COVID-19 lockdown period. Security personnel stationed at the site say the building is fully maintained and could resume operations, but remains shut due to unresolved ownership tensions.
At the centre of the dispute is a struggle for control of Legacy Hotels. Ensemble, backed by the Libyan Investment Authority, holds 39.79% of the company, while founder Bart Dorrestein controls 40.84% through Legacy Management Holdings. A further 19.39% is held by associates aligned with Dorrestein.
Both sides are seeking control, with the matter now heading toward the Supreme Court of Appeal after a Johannesburg High Court ruling in late 2025 favoured Ensemble’s position for a private auction process.
The disagreement now hinges on whether control should be decided through competitive bidding or a court-directed valuation process, with both outcomes carrying significant implications for ownership of one of South Africa’s major hospitality groups.
SME SALARIES AND BENCHMARKING UNDER SCRUTINY
Job Crystal CEO Sasha Knott said many small and medium-sized enterprises still rely on internal budgets rather than detailed market data when setting salaries, largely due to cost and access constraints.
She noted that new digital tools, including AI-based systems, are making it easier for smaller firms to compare salary ranges against broader market data.
While SMEs often cannot compete directly on pay, Knott said they tend to attract staff through broader roles, faster exposure to responsibility and greater flexibility.
However, she warned that consistently underpaying staff can lead to higher turnover and longer recruitment cycles, ultimately increasing costs for employers.
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