START YOUR MORNING BY LISTENING TO TODAY’S BIZNEWS BREAKFAST BRIEFING – Shares on best run since March; Peter Major on gold v rest; SA State spied on Greenpeace; Bye-bye BoJo
Catch up with the latest on BizNews.com
- Eskom running out of spares to fix substations
- Government prods union bear – public sector strike?
- SLR: Clingon Bo-Jo resigns, set to go go in October…
- Streaming what you need is way to go. Here’s how.
- Recession is the new buzzword
- St Francis Villas: Man with nature is sustainable
- CrypTalk: Smart contracts could replace banks
- Modern milkman: Lekke Fresh’s Henk vd Merwe
- Russia’s tactical shift in Ukraine raises prospect of protracted war (Premium)
Sasol and Steinhoff lead the JSE’s Top40 winning and losing stocks
The JSE’s Top 40 Index houses stocks accounting for the value of over 80% of all locally listed companies – and an even higher proportion of the daily trade. As a result, professionals focus their attention – and their portfolios – on this elite grouping. So everyone with a retirement fund has a disproportionate interest in the Top40.
Good news is that during the first half of 2022, SA did much better than the 21% smashing posted by the index measuring Wall Street’s 500 leading companies. The bad news is the JSE Top40 index still lost 10.5%, with some of its members taking even more punishment than the US average.
As the table below illustrates, punter’s favourite Steinhoff lost virtually half of its value, while recently rebounded fallen angel PPC came back to earth with an awful bump. Barloworld’s price was hammered by the Ukraine War (its major asset is in Siberia) while pharma group Aspen bet big on Covid continuing – and lost.
On the flip side, nice to see Fleetwood Grobler’s steady hand at Sasol being rewarded with the company’s shares far and away the JSE’s star performer so far this year, the price rising 44% to R370. Hard to believe it’s hardly two years since the shares were being flogged for barely R20. Mr Market never ceases to amaze, does he?
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