Warren ThompsonThe JSE reported rising interim profits as sentiment and volatility linked to the pandemic and associated economic fallout drove higher levels of activity on the group’s various markets in the first half of the year.
“We are very pleased with the results, both due to the increase in earnings but also the quality of earnings, which were strongly cash generative. I am also delighted that none of our markets experienced any down time during the record volumes traded on the exchange from March onwards while most of our staff were operating from home,” said JSE CEO Leila Fourie.
In March alone, the local equity market saw nearly R1.5-trillion in value traded, while March’s volumes were only narrowly eclipsed by trading in June during the period. The company noted that as a result of the sovereign credit-rating downgrade that led to SA exiting the World Government Bond Index at the beginning of May, net foreign outflows for the first six months of the year amounted to R45bn and R68bn in the equity and bond market, respectively.
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