SA rally is set to be brief – BofA

The Citizen (KZN) - - Business -

SA as­sets could en­joy a first-quar­ter rally, sup­ported by al­lur­ing val­u­a­tions and more up­beat global sen­ti­ment.

But that’s set to evap­o­rate as lo­cal risks de­ter in­vestors, ac­cord­ing to Bank of Amer­ica Se­cu­ri­ties.

“... longer-term re­al­i­ties such as Eskom load shed­ding, lack of con­sumer and busi­ness con­fi­dence, leads to the rally pe­ter­ing out,” said BofA re­searcher Michael Jacks. – Bloomberg

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