South African banking index falls over 4% after SARB advises against dividends

PUBLISHED: Tue, 07 Apr 2020 11:30:53 GMT
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JOHANNESBURG (Reuters) – South Africa’s banking index opened 4.3% lower on Tuesday, a day after the country’s central bank said it had advised lenders not to pay dividends or bonuses amid the coronavirus outbreak.

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The decline in the banking index, which recovered slightly by 0703 to stand 3.7% lower, compared to a 1.36% rise across the Johannesburg Stock Exchange overall.

(Reporting by Emma Rumney; Editing by Catherine Evans)

This article was first published on Reuters Africa https://af.reuters.com/article/investingNews/idAFKBN21P0VK-OZABS and is republished with its permission.