WORLDVIEW: Why are investors dumping London-listed SA miner Petra Diamonds?

While the gems sparkle with opportunity for Chinese consumers, the future is evidently less certain for Petra Diamonds investors who might find better bets elsewhere.

Published on:

20 Jan 2017, 5:30 am

As you may know, I'm flat out following developments in Davos and will have plenty to share in the weeks ahead. I'm fully focused in the Alpine discussions so today's Worldview comment comes to you from Jackie Cameron. In this piece she goes digging for diamonds, and assesses why they might not 'be forever' as investors dump London-listed SA miner Petra Diamonds. And the sell-off looks to be company-specific as Chinese millennials are set to boost demand in the east as diamonds are the new status symbol. – Alec Hogg

By Jackie Cameron

UK asset manager M&G Investment Funds has been offloading shares in Petra Diamonds, the South African miner listed on the London stock exchange (ticker: PDL). Petra Diamonds announced on 16 January that an open-ended investment fund in the M&G stable had reduced its stake to just under 5% in indirect voting rights.

___STEADY_PAYWALL___

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