JSE reaches 52-week high

The JSE reached a 52-week high after the JSE ALL Share Index (Alsi) hit the 59 240 mark just before 12pm on Friday, December 4, 2020.

This represents an impressive recovery after the index collapsed by 20 000 points between February 18 and March 19, falling from 57 900 points to about 37 900 points over the month. The sharp fall was driven by the fallout of Covid-19 crisis and the resulting national lockdown to stem the spread of the virus.

The recovery in the Alsi mirrors the steady opening up of the economy, as the country lifted lockdown restrictions, which started at the end of March.

Anglo American Plc shares showed one of the biggest recoveries over the 52-week period. It was trading at R389.66 a year ago and has since risen to its current price of R507.68. This rise comes despite it falling to as low as R210 on March 19.

There was a similar story at mining house Glencore. It was trading at R52 a year ago, saw its share price more than half to R24 and has since seen it recover to around R47.

One of the biggest winners over the past year has been the Naspers spin out, Prosus. The technology holding company was priced at around R975 back then but has since risen to R1 729 a share.