Letlole leads in tough H1

Letlole la Rona topped the list of gainers on the Botswana Stock Exchange (BSE) for the first half of the year, putting on 3.6 percent in a difficult six months of trade. By June 30, the BSE’s primary platform, the Domestic Companies Index (DCI) had shed 4.5 percent largely reflecting the downward trend in global equities due to the impact of the coronavirus. By comparison, over the same period last year, the DCI had shed three percent and would go on to close 2019 having lost 4.7 percent. For the first six months of this year, Letlole swam against the tide, gaining a net of eight thebe since January 2020. The only other counters that gained on the DCI during that period were Sefalana and Cresta, which put on 1.3 percent and 0.8% respectively. Letshego Holdings, which led the DCI for most of the first half of the year, slipped out of the list of gainers on the final day of the six months. Letshego lost two thebe on June 30, to end the six months on 70 thebe, lower than the 71 thebe at which the group began its year on the BSE. At the opposite end of the table, Minergy led the DCI’s biggest losers for the first six months of the year, having shed 22.7% in value, followed by Standard Chartered Bank Botswana (-16.8%) and First National Bank Botswana (-15.8%). Chobe Holdings, which began the year strongly jumping from P11.10 to P11.50 between January and March, slumped thereafter, losing 60 thebe by the end of the half year. For the first six months of the year, Chobe Holdings shed 5.4 percent as a result of its late slump.