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(Bloomberg) -- A 60% rally in South African banking stocks from an eight-year low in May has further to run due to valuations far below levels before the coronavirus, according to JPMorgan Chase & Co. “The banks are actually very, very cheap,” John Storey, an equities analyst at the U.S.
The main Johannesburg index gained 5.2% in January.
South African stocks have made their best start to the year since 2012, even after last-week’s pull-back, and JPMorgan Chase & Co. and Bank of America are among those predicting further gains.
JPMorgan, BofA See Scope for Longer S. Africa Stock Rally Bloomberg 2/1/2021 Adelaide Changole (Bloomberg) -- South African stocks have made their best start to the year since 2012, even after last-week’s pullback, and JPMorgan Chase & Co. and Bank of America are among those predicting further gains. A global appetite for riskier assets has propelled emerging market inflows and the Johannesburg exchange is set to benefit from its heavy weighting in mining stocks as China’s economy emerges from the pandemic. Add to this a global tech rally driving gains in index giant Nas...
Skip to main content Currently Reading With the big Williams Selyem deal, a California wine icon aims to avoid a common fate: a soulless private equity future Making sense of a different sort of winery acquisition, in this week's Drinking with Esther newsletter FacebookTwitterEmail Williams Selyem will change hands for a second time.Peter DaSilva / The Chronicle 2006 We’re two weeks into the new year, and already there’s been a lot of merger-acquisition news in the California wine industry. Following O’Neill Vintners’ purchase of Rabble Wines and an $810 million handoff of value-price...