Casablanca, Abidjan, Lagos ... At the beginning of 2019, Jeune Afrique takes stock of the past year in the main financial centers of the continent. In South Africa, the main index of the Johannesburg Stock Exchange fell by 11,4% against a backdrop of rising economic tensions worldwide.
The main index of the South African stock exchange, the Johannesburg Stock Exchange (JSE) All Share Index, fell 11,4% in 2018, its worst performance since 2008. The indicator had experienced an increase of 17,5% in 2017.
The JSE All Share Index suffered investor concerns over rising US interest rates, trade tensions between China and the United States, and slowing global growth. In 2008, the year of the outbreak of the global financial crisis with the bankruptcy of US investment bank Lehman Brothers, the Johannesburg Stock Exchange fell by 27%.
Good performance of mining companies
The fastest growing stock is that of Montauk Holdings, a subsidiary of a US company specializing in the capture of methane from landfills, with an increase of 55%.
Then follow the companies Anglo American Platinum (platinum production) and Altron (telecoms and IT), with respective increases of 54% and 51%. Also noteworthy is the good performance of the AngloGold Ashanti gold company (+ 41%) and the Telkom mobile operator (+ 35%).
Steinhoff and Aspen back
Ascendis Health's (-76%) health care company, and Rebosis Property Fund (-72%) and Fortress Reit (-65%), all scored lower.
In the biggest declines of the year are also Steinhoff (-66%), in turmoil since the departure of general manager Markus Jooste at the end 2017, and Aspen (-51%), which sold 2018 its infant nutrition division to Lactalis.
Among the transactions that marked the Johannesburg Stock Exchange in 2018, are the IPOs of the distributor Libstar and the tanker Vivo Energy in May, Grindrod Shipping in June and Motus Holdings dealer.
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