SA stocks end worst year since 2008 on positive note

South African stocks climbed 0.6% in the final session of 2018 after President Donald Trump reported "big progress" in trade talks with China, paring losses for a year that’s still the market’s worst since 2008.

BHP [JSE:BIL] contributed to gains in Monday’s shortened trading, advancing 1.1%.

MTN [JSE:MTN] rose for a fourth day, extending its rally since Africa’s largest wireless carrier resolved a dispute with the Nigerian central bank over $8.1bn of fund transfers.

Johannesburg’s FTSE/JSE Africa All Share Index ended the year down 11%, its worst performance since 2008. Naspers [JSE:NPN] was the biggest drag on the benchmark, in terms of index points, dropping 16% for the worst annual performance by Africa’s largest company by market value since 2001.

worst year

Anglo American Platinum [JSE:AMS] was the best-performing index member, climbing 52% in 2018. Property investor Lighthouse Capital was the worst, dropping 85%.

Troubled retailer Steinhoff International’s [JSE:SNH] Johannesburg-traded shares fell 63%. An index of South African gold stocks soared 25% in December as investors turned to bullion as a haven. Over 2018, AngloGold Ashanti [JSE:ANG] was the sector’s best performer, climbing 41%.

haven rally

The South African benchmark index fared better than the 17% decline in emerging markets. In dollar terms, however, Johannesburg stocks delivered a 24% loss for investors.

ZAR/USD
17.36
(-0.25)
ZAR/GBP
22.84
(-0.49)
ZAR/EUR
20.61
(-0.28)
ZAR/AUD
12.48
(-0.13)
ZAR/JPY
0.16
(-0.33)
Gold
2050.10
(+0.75)
Silver
27.68
(+3.16)
Platinum
981.00
(+1.78)
Brent Crude
45.33
(+1.67)
Palladium
2197.00
(+1.05)
All Share
57803.86
(+0.30)
Top 40
53430.08
(+0.28)
Financial 15
9994.77
(+0.66)
Industrial 25
75989.50
(-0.23)
Resource 10
60289.29
(+0.83)
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