|Bid||1,965.20 x 0|
|Ask||1,963.80 x 0|
|Day's Range||1,899.20 - 1,966.60|
|52 Week Range||1,018.20 - 2,266.00|
|Beta (5Y Monthly)||1.25|
|PE Ratio (TTM)||11.62|
|Forward Dividend & Yield||0.59 (3.07%)|
|Ex-Dividend Date||Aug 20, 2020|
|1y Target Est||N/A|
As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. With temporary mine closures at risk of becoming permanent, diamond miners are seeking ways to extract more value from their stones. The lone bright spot has been steady demand for large, high-quality diamonds from affluent investors, according to financiers and sales data.
* Global diamond supply chains convulsed by pandemic * Diamond polishers in India switch to farming * Miners seek new supply deals to boost margins * Mines from Canada to Lesotho still shuttered By Helen Reid, Tanisha Heiberg and Rajendra Jadhav JOHANNESBURG/MUMBAI, Aug 12 - As the coronavirus pandemic upended the global diamond industry, shuttering mines from Lesotho to Canada and disrupting supply chains, Rajen Patel swapped diamond polishing for peanut farming. Patel, who worked for a decade in India's Surat where about 80% of the world's diamonds are polished, joined the exodus of gem workers leaving the city as cases of the virus shot up.
(Bloomberg) -- South Africa’s main stock index climbs 1.6% by 9:43 a.m. in Johannesburg as gains in diversified miners and a rally in Richemont counters weakness in index giant Naspers Ltd. It’s the market’s first trading session of the week following Monday’s holiday.Sasol reverses earlier weakness to be 0.9% higher. Stock retreated as much as 3.1% after the company said it expects to swing to losses after write downs on U.S. chemical assets contributed to 112 billion rand ($6.3 billion) of charges and oil prices declined.NOTE: Sasol Sees Loss With $6.3 Billion in Write-downs, Oil Slump South African stocks joins peers in Asia and Europe in rising, as risk sentiment is boosted by a drop in coronavirus hospitalizations in some U.S. states, and by strong Chinese economic data.Richemont rises for a fifth session, up 2.9% in the biggest gain since June 23. British American Tobacco Plc +3.6%, MTN Group Ltd +4.7%, and Mondi Plc +3%Stronger rand lifts index for bank stocks up 2.6%FirstRand Ltd. +1.5%, Standard Bank Group Ltd. +1.9%, Absa Group Ltd. +3%, Nedbank Group Ltd +4%, Capitec Bank Holdings Ltd. +2.6%, Investec Plc +3.6%Diversified miners BHP Group Plc and Anglo American Plc climb as iron ore prices rise, pushing gauge for mining stocks up 0.9%NOTE: Iron Ore Futures Gain as China’s Economic Recovery Fuels DemandBHP +3.1%, Anglo American +3.6%, Glencore Plc +3.7%, African Rainbow Minerals Ltd. +1%Exxaro +3.4%, even as company says headline earnings may decline as much as 34% in the six months to June 30NOTE: Exxaro Sees 1H HEPS Decreasing Between 18% & 34% y/yWeaker bullion prices push sub-index for gold producers to its lowest in more than two weeksGold Fields Ltd. -4.9%, AngloGold Ashanti Ltd. -3.7%, Harmony Gold Mining Co. -5.2%, DRDGold Ltd. -3.4%, Pan African Resources Plc -2.8%Naspers, with a 18% weighing on the index, falls 2% to its lowest intraday level since June 17 to provide biggest drag on the market. Naspers subsidiary Prosus NV falls 2.5%Foreigners were net sellers of South African stocks on Friday, disposing of 156 million rand worth of shares, according to bourse operator JSE Ltd.NEWS:Africa’s First Electric Bus Plant Industrializes a RegionFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.