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Shares in companies that earn most of their income in South
Africa – so-called SA Inc shares – exploded on Friday after the ANC, DA and the
IFP signed a framework agreement to form a government of national unity (GNU).
Global investors have been nervous about the prospect of a
ruling coalition involving pro-nationalisation parties like the EFF and MK. Bloomberg
reported that the index of South African bank stocks reached a record high
earlier on Friday, at one stage gaining almost 6% – the biggest rally since
November 2020.
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