Finweek English Edition - - In Brief -

South African eq­ui­ties have un­der­per­formed the MSCI Emerg­ing Mar­kets Eq­uity In­dex by 5.4 per­cent­age points from May un­til 15 Au­gust, ac­cord­ing to UBS Wealth Man­age­ment’s chief in­vest­ment of­fice (CIO). The CIO up­graded South African stocks this month from un­der­weight to neu­tral, say­ing it sees the mar­ket as close to a low point and that eq­uity val­u­a­tions are in­ex­pen­sive on av­er­age. “De­spite the con­tin­u­ing chal­lenges af­fect­ing the coun­try’s econ­omy, SA’s stock mar­kets still boast highly com­pet­i­tive com­pa­nies in fields like health­care as well as ex­trac­tive in­dus­tries. For in­vestors, re­cent weak­ness in South African stocks may present an op­por­tu­nity to bol­ster hold­ings on a tac­ti­cal ba­sis,” UBS said.

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