EDITORIAL: The market targets the green
It looks like the new political dispensation has been good for the JSE — so far
It’s early days. But, at the risk of invoking the dreaded “commentator’s curse”, the FM can state that the new political dispensation has, so far, been good for the JSE. The absence of load-shedding has helped too. While some pundits are a little disappointed that foreign buying has not been as enthusiastic as expected, the scorecard does make fairly encouraging reading.
The JSE’s all share index (Alsi) has, since roughly a month ago — when there was still a good deal of uncertainty about the political trade-offs needed to form a cabinet — gained about 8%. Since mid-March, when fears abounded about a possible radical shift in the political power dynamic, the Alsi is up about 14%...
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