why is sasol share price dropping

“Nobody understands why it has to be like this.”“We can’t really get to the bottom of what is really driving people’s decision-making, and to really get a grip on what their actual fears are.“We have never experienced anything in our lives like this before,” says Shapiro.What he finds most concerning about Sasol however is its lack of communication to investors.“What worries me is that we have heard nothing from the company.



Sunday’s crash spooked markets that were already panicked by the impact of the coronavirus outbreak on the global economy and the demand for oil. "It is, however, important to emphasise that no material or unexpected scope changes to the project have taken place. Do you think it was a good idea for the government to Its share price dropped by 12% in minutes, as the market - scarred by the legacy of Steinhoff and Tongaat - took fright. (Stephanie de Sakutin, AFP) Vestact portfolio manager Michael Treherne said the drop was a direct result of the Ninety One spin-off. On Friday morning, Sasol shocked the market with an announcement that independent consults found "control weaknesses" at its embattled US project, and that it has to postpone its results. All rights reserved.

Already have a profile? Future vision/strategy Sasol's strategic agenda is our blueprint over the near to medium term to achieve the Group's definition of victory, which is to grow shareholder value sustainably. A plunge in commodity prices has left Sasol share price vulnerable and exposed to a volatile market, making the shares an unpopular buy of late. Johannesburg - Sasol, the oil from coal pioneer, had lost R111 million in a share buyback scheme, the company revealed yesterday. The price of Brent crude dropped nearly 30% after oil producers failed to reach agreement on cuts.Market watcher David Shapiro of Sasfin says it’s very difficult right now to get a grip on what is in investors’ minds. How can I diversify my investments?MONEY CLINIC | Can I buy a house while under debt review? We’ve heard nothing from the stock exchange.“There has been no reporting or communication … the market capitalisation of Sasol today is R33 billion, which is insane. A snapshot of the biggest breaking business stories, market indicators, access to portfolios, and more, by Fin24 deputy editor, Jan Cronje. Brent crude, to which the producer’s revenue is linked, has dropped 20% in the period. "As of 30 April 2016, the capital expenditure to date on the LCCP is $4.5bn and the overall project completion has progressed beyond 40%, Sasol said. We’ve just come from R450 billion.“It is creating a massive amount of destruction,” says Shapiro.There is a lot of confusion about what impact the coronavirus is going to have on the global economy, and against that backdrop people are incredibly nervous. Find real-time SSL - Sasol Ltd stock quotes, company profile, news and forecasts from CNN Business. "The project will continue to be funded from existing facilities and ongoing group cash flow," it said. All JSE data delayed by at least 15 minutes Overall construction on the project continues on all fronts, with most engineering activities nearing completion and procurement well advanced.

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