With the rather insular “Brexit” debate getting to fever pitch, ahead of an in-out referendum tomorrow, South African investors are taking note and perhaps wondering what the implications are for their British American Tobacco, Old Mutual, Investec or Capital & Counties shares, to name a few. About one-fifth of the companies on the JSE’s main board are dual listed, many in London.
Over the week ending 05 February 2016 we saw local markets carry on their positive form. The Local market was up 1.24% represented by the All Share Index. The benchmark Top 40, up 0.88% for the week, while returns for the year are now -2.93%.
A week ago we sent out a rather pessimistic market review which noted our concerns and importantly concluded that a heightened level of market monitoring was required.