Lack of confidence hurts the South African market

South African commodities are still drawing attention but there are concerns over the perceived unstable social situation in the region. In particular the 30% unemployment rate has been affecting sentiment. For the year ending 29 September the Johannesburg All-Share index was up 17.8%, in sterling terms, compared to the FTSE All-Share returns of 7.19. The largest portion of the Johannesburg All-Share Index is taken up by the mining, holding and houses sub-sector index at 16.09%, with banks making up 11.38% of the market, diversified industrial at 9.92% and insurance comprising 8.5%. The ...