Eskom cuts diesel spending by R4.8 billion, and Nvidia’s record $235 billion buyback

Eskom's drastic reduction in diesel spending, cut by 81% between April and September 2026, has been largely attributed to the US-Iran war's impact on fuel prices in South Africa. As the rand plummeted to R16.44 against the US dollar, South African equities suffered sharp declines, with the JSE All Share Index and Top 40 Index dropping by 1.55% and 1.76%, respectively. Meanwhile, Nvidia's board has approved a $150 billion boost to its share repurchase programme, bringing the total to $235 billion, a move that may further fuel market volatility.