Capitec’s share price slumped to a 10-and-a-half month low as spiralling global inflation and rising interest rates conspired to exacerbate concern sparked earlier in September by the bank’s earnings guidance, which the market deemed to be short of expectations.
Shares in the Stellenbosch-headquartered lender fell as much as 1.7% to R1,800.07, the lowest level since end-November 2021. The share price later pared losses to trade 1.5% down at R1,803.32, taking its decline since the September 8 trading statement to 5.2%. For the year to date Capitec has lost 11.1%, which compares to a 4.3% rise in the JSE banks index...
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