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JSE reaches 52-week high

Anglo and Glencore recover from big fall offs.
Photographer: Waldo Swiegers, Bloomberg

The JSE reached a 52-week high after the JSE ALL Share Index (Alsi) hit the 59 240 mark just before 12pm on Friday, December 4, 2020.

This represents an impressive recovery after the index collapsed by 20 000 points between February 18 and March 19, falling from 57 900 points to about 37 900 points over the month. The sharp fall was driven by the fallout of Covid-19 crisis and the resulting national lockdown to stem the spread of the virus.

Jse Alsi over 12 months

The recovery in the Alsi mirrors the steady opening up of the economy, as the country lifted lockdown restrictions, which started at the end of March.

Anglo American Plc shares showed one of the biggest recoveries over the 52-week period. It was trading at R389.66 a year ago and has since risen to its current price of R507.68. This rise comes despite it falling to as low as R210 on March 19.

There was a similar story at mining house Glencore. It was trading at R52 a year ago, saw its share price more than half to R24 and has since seen it recover to around R47.

One of the biggest winners over the past year has been the Naspers spin out, Prosus. The technology holding company was priced at around R975 back then but has since risen to R1 729 a share.

Anglo, Glencore and Prosus over 12 months

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Wait for the Glencore results.

Pays no dividends.

Look at its balansheet, looked horrendous for June 2020.

Had impairments of $3.2 billion.

Did not care about investors, paid no dividends but went on a buying spree.

Cannot wait to see the results today.

Nice. There are two things that make the stock market profitable.

Volatility (thanks to the disruption from Covid 19) and steady growth resulting from good operational management.

The former is still around, the latter I do not know of well run companies on the JSE: Any suggestions?

What can go wrong?

It’s as if Covid-19 never happened.

I think 2021 will be a year of reckoning.

End of comments.

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