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B. G., Opalesque Geneva: South Africa's stock market has been doing well over the past year even though domestically, concerns persist over a possible new wave of the Covid-19 and the return of Eskom's power cuts. That has permitted a long/short equity hedge fund to make positive gains.
The FTSE/JSE All-Share Index (ZAR) was up 14% YTD at the end of April, after returning 7% in 2020. As of 19th May, it has increased by 26% in the last year. The index has 139 constituents.
The South African Reserve Bank declared on 20th May that following an expansion of 6.3% in Q4-2020, its forecast for first quarter's growth stands at 2.7%, much stronger than the 0.2% contraction expected in March. The economy is expected to grow by 4.2% in 2021, up from 3.8%.
The stronger growth forecast for 2021 reflects better sectoral growth performances and more robust terms of trade in Q1-2021, the Bank says. Despite rising oil prices and a higher total import bill, commodity prices have risen to new highs, strengthening income gains to the economy. Household spending is expected to be he...................... To view our full article Click here
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