Defensive South Africa benefits from volatility

South Africa is seen as a defensive market, especially in times of such global volatility, according to Suresh Sadasivan, emerging markets analyst at Old Mutual. The Johannesburg All-Share has risen 13.26% in sterling terms for the year to the end of June compared to a fall of 7.06% in the FTSE All-Share over the same time period. Financials and retailers are doing better than resources, which were taken up by the domestic market last year, Sadasivan says. Two companies he favours are Iscore Sappia, a resource company specialising in platinum, and Impala Sappi, which specialises in ...