Absa shares fell almost 7%, their biggest one-day drop since 2024, after the bank flagged a stronger rand and weaker Africa-region earnings.
SOUTH AFRICA · BANKING
Key Facts
—Sharp fall: Absa shares dropped 6.63 percent to 227.92 rand, the biggest one-day fall since June 2024.
—Value wiped: The bank shed more than 14 billion rand of market value in a single session.
—Stronger rand: Absa said a firmer rand would slightly reduce group revenue, costs and headline earnings in the first half.
Absa Group share price lower after forecasting modest earnings growth
Absa expects strong SA performance to offset softer Africa regions
Moody’s sees Absa’s R4bn Kenya deal as credit positive for the group
Oil price falls to lowest levels in four months
South Africa secures $14bn Afreximbank deal amid xenophobic attacks - Businessday NG
Absa Group's share price fell over 5% following a forecast of mid- to high single-digit headline earnings growth, impacted by a…
Absa becomes the second major listed lender to report lower earnings after Standard Chartered Bank Kenya’s net income declined…
Group expects first-half headline earnings growth of mid- to high single digits
Absa Bank becomes the latest lender to stage major share price gains catalysed by mergers and acquisitions announcements.
South Africa's Absa is offering about $239 million to raise its Absa Bank Kenya stake to 85%, the latest South African banking…
The proposed offer price comes after Absa Bank Kenya’s share price had rallied to hit an all-time high of Sh33 before easing to…
