Johannesburg - The woes of Sasol [JSE:SOL] continued on the JSE on Thursday when the share price fell another 3.7% in morning trade after losing more than 5% of its value on Wednesday.
The stock dropped sharply after the company announced that it was reviewing its generous dividend policy to conserve cash, due to pressures caused by the lower oil price.
The news spooked investors because it gave the first indication of how hard Sasol has been hit by the much lower oil price. Sentiment fell further when the oil price started to slide again after a promising rebound, again firmly trading below $60 per barrel.