The JSE ended 2019 in far better shape than it entered it, while the rand also made some gains for the year.
The rand has been buffeted by a number of international and local factors, including Brexit, the US-China trade war, and problems at local state-owned entities such as Eskom and SAA. Eskom remains the biggest danger to SA’s fiscus, with debt in excess of R450bn, while SAA can see some light at the end of its very dark tunnel, having been put into business rescue recently.
— this after a fall of 11.37% previously. It rose 17.47% in 2017, lost 0.08% in 2016, and eked out a marginal gain of 1.85% in 2015. Its average gains for the past 20 years now stand at 11.41% per year. If the past five years are excluded, which were somewhat disappointing, the average gain rises to 14.12%.
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