Very few stocks have shown the consistency to remain within the FTSE/JSE Top 40 Index for the last 20 years, but 11 companies have managed the impressive feat. There are an elite group of businesses that have managed to stay in the top 40 of the Johannesburg Stock Exchange since 1996. Here are the 11 companies that have remained within the FTSE/JSE Top 40 Index for 20 years.
AFKI Market Journal: Latest News
Lynda Davies, 1:38 am AFKI Original
Brent and WTI crude oil futures fell to four and three-year lows respectively as OPEC cut its forecast for the call on its crude next year; gold clawed back losses from the 4⅟2-year low recorded last week but remains in negative territory. Among soft commodities, ICE raw sugar made strong gains on short-covering while arabica coffee was also higher on a global deficit forecast from the International Coffee Organization
Ryan Hoover, 2:17 am AFKI Original
The African IPO market cooled off dramatically in the wake of the global financial crisis. Many stock exchanges went years without adding any new local listings. Now, however, with share prices recovering, an increasing number of African firms are looking to go public. In the past 12 months, nearly two dozen companies debuted on the continent’s stock markets. So, which companies will be in the next wave of debutantes? Here’s a list of six African businesses that have announced their intention to list within the last month.
Jeffrey Cavanaugh, 4:37 am AFKI Original
So far this year two African countries deemed to be on the growth bandwagon have had to turn to the IMF for assistance in meeting a pressing current account problem. Zambia turned to the international body in June after low prices for copper pressured the kwacha lower, while in August, Ghana, too, made overtures to the IMF on seeking a bailout. Now, three more countries are continuing Africa’s currency woes. First, Ethiopia this past week devalued the birr by 17 percent against the US dollar after the World Bank recommended it do so in order to shore up struggling exports.
Ryan Hoover, 11:10 am AFKI Original
Oscar Onyema has worked tirelessly since 2011 to build investor confidence in the Nigerian Stock Exchange as its CEO. The NSE’s All Share Index has risen 61.1 percent in U.S. dollar terms over the past 36 months, and trade volumes have increased from an average of $71 million per week three years ago to $139 million today. Onyema has provided inspired, responsible leadership that keeps investor excitement alive about the African growth story, says says AFKI columnist and investment analyst Ryan Hoover.
Ryan Hoover, 11:03 am AFKI Original
No African top-performers list is ever complete without the requisite sin stock, and British American Tobacco Uganda represents the class here. The company’s 2013 earnings actually dropped 11 percent, but sharp-eyed Uganda investors recognized that this was due to a couple of one-off expenses. With operating profit up 56 percent in 2013 and margins set to widen, I suspect they’ll make out just fine. Read on for sub-Saharan Africa’s top-five stock performers of 2014 thus far.
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