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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
- SA stocks (+16.57% YTD) the key outperformer vs Turkey (4.31%) & Russia (5.79%) in 2021
- SA stocks (shown in candles), have been buoyed by high commodity prices, balanced inflation/central bank stance and relatively low-profile geopolitical presence relative to Turkey (red) & Russia (blue)
- Despite Turkey's growth coming well above the others at +1.8% for FY20 & projected at 7% for 2021, equity valuations remain compressed on FX, geopolitical and human rights risks.
- Similarly, Russia has failed to realise equity upside in Brent/commodities due to geopolitical concerns and de-anchored inflation limiting scope for CBR easing to support growth.
- JPM remains extremely bullish on SA equities in 2021, given the anticipated commodity super-cycle and better than expected budget.
- Additionally, close correlations to Chinese equities (Naspers/Tencent component of Top40) also a key consideration in leveraging off China's strong growth/manufacturing projections.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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